All Posts Tagged With: "jumbo"
Who Won’t Be Helped Under The Obama Foreclosure Prevention Plan
The Obama Administration has come out with a new plan to both prevent foreclosures and to help those who are now struggling with home payments. If you read the documents the Administration has posted to date, you can see that the plan offers real benefits to millions of borrowers and provides for federal cash to [...]
19Feb2009 | Peter G. Miller | 0 comments | Continued
Foreclosure Numbers at New Highs: Are Toxic Loans To Blame?
Foreclosures used to be a rarity and for the most part that’s still the case. As of the second quarter of 2008 only about 2.75 percent of all loans were in the process of being foreclosed, according to the Mortgage Bankers Association. That term “in the process of being foreclosed” is important. Neither borrowers nor [...]
19Sep2008 | Peter G. Miller | 0 comments | Continued
Super-Jumbo Loans Face Hard Times
It must have seemed like a good idea at the time: Not only could you get 100 percent financing for your home, you could do better — 110 percent, 125 percent, and sometimes even more. If you bought or refinanced a $200,000 home you could borrow $220,000, $250,000, or perhaps a higher figure. Such loans [...]
14Sep2008 | Peter G. Miller | 0 comments | Continued
How can I apply for a conventional mortgage?
Question: What does applying for a conventional loan mean? Is it a federally-insured loan? Can you get a conventional loan when you first buy a home and when you refinance? Answer: “Conventional– loans are mortgages that meet certain standards established by big loan buyers such as Fannie Mae and Freddie Mac. Fannie Mae and Freddie [...]
3Sep2008 | Peter G. Miller | 0 comments | Continued
Do Higher Mortgage Limits Matter?
The huge debate in Washington regarding whether or not conventional loan limits should be raised is over. Those who wanted higher limits won with passage of the new stimulus package, a big deal because higher loan limits mean that big-ticket buyers will be able to get larger loans at less cost. Note: The numbers in [...]
20Aug2008 | Peter G. Miller | 0 comments | Continued
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