With the release of President Obama's Making Home Affordable plan, many new loan modification and foreclosure prevention scams have started to surface. So much so that HUD (Department of Housing) issued a press release and sent an e-mail to all HUD partners warning of the potential destruction of these foreclosure scams.
How much can you SAVE with today's crazy low mortgage rates? Find out now!
Tag Archives: Treasury
Yahoo! Finance: Mortgage Rates at 38-Year Low
Yahoo! News: Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
Avoid Stimulus Scams and Ripoffs
Consumer protection groups are reporting a surge of complaints about scams associated with Loan Modification and the Housing Stiumulus. Learn how to protect yourself and avoid these ripoffs!
Details of $75 Billion Loan Modification & Refinancing Programs Released
The details of the federal government's $75 billion loan modification plan to were released this morning. According to Housing Secretary Shaun Donovan, the plan will help financially stabilize up to 9 million homeowners.
Fed Poised to Take Unprecedented Action to Spur Mortgage Lending
Having already cut its target Fed Funds Rate to a range of 0 – .25 percent, the Federal Open Market Committee (FOMC, Fed) today announced that it will maintain the funds rate and will continue, and perhaps expand, its current plan of purchasing mortgage-backed securities. The Fed went even further, stating its prepared to purchase long-term Treasury bonds as a means to help free up credit for consumers.
Long-term mortgage rates hit 2005 lows
The average interest rate on a 30-year U.S. mortgage with no upfront points fell to 6.0 percent on Monday, the first time since late 2005 that it?s been at that level. In addition, 15-year fixed rate mortgages can now be obtained at rates not seen since early 2006.
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