On March 4, 2009, President Barack Obama announced a $75 billion mortgage rescue plan providing affordable mortgage terms for countless American at-risk homeowners.

Filed under: Home Equity, Home Mortgages, Mortgage Industry, Real Estate, Refinance | No Comments »

As a presidential candidate in 2008, Barack Obama announced an immense stimulus package proposal of $175 billion.  After taking office, President Obama is now considering a much larger proposal package that could exceed $500 billion.  There are a few stipulations in this proposal that President Obama has considered in past proposals that could directly affect [...]

Filed under: Mortgage Industry, Mortgage Rates | 3 Comments »

Is the boom in FHA Lending a cause for concern? Nearly 20% of all new mortgages now insured by government agency. The Texas mortgage shakedown of the subprime mortgage industry and its fallout on conventional lenders has led to such a boom in business at the Federal Housing Administration that the agency is now insuring nearly [...]

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Are you worried that the failure for Congress to pass the Federal bailout will create you to have a tougher time to get a home or auto loan? Well, you should be. The credit crisis has banks less willing to lend money to each other, which ultimately means it will be harder for borrowers to [...]

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Fannie Mae and Freddie Mac sound like an aging aunt and uncle, but these are both “government-sponsored enterprises”. This means that they are privately owned, but receive support from the Federal Governement, and assume some public responsibilities. The recent mortgage crisis and fallout from sub-prime lending has gotten both Freddie & Fannie in dangerous waters [...]

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