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June 20, 2010

Loan Relief Available for Gulf Coast Homeowners

Homeowners residing in the Gulf Coast finally got some good news.  Bank of America, Freddie Mac and Wells Fargo announced they were extending mortgage relief to distressed borrowers in the region.  Freddie Mac forbearance policies allow its servicers to suspend a borrower’s loan payments for up to three months or reduce payments for up to six months. BofA and Wells Fargo company policies also call for an initial 90-day forbearance of payments in a disaster situation.  Read the original article > Gulf Coast Borrowers Offered Mortgage Relief From BofA, Freddie Mac, Wells Fargo

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June 7, 2010

Home Refinancing Tips

Mortgage Refinancing Buzz posted another article offering home refinance advice to consumers shopping for a refinance loan online.  The article looks back a few years to the mortgage crisis and chronologically leads up to 2010 and the lowest refinance rates that our country has seen in 50-years.  They reminded us how we got here with thousands of lending companies and banks going out of business and the federal government deciding to take on a larger role in home loans.  Yes mortgage lenders continue to tightened refinance guidelines because foreclosures and loan defaults continue to mount across the country.  Mortgage Refinancing Buzz noted that a few of the with government loan programs continue to take risks.   Mortgage refinancing tips are available online so go to the MRB blog to get the insight.  Read the original article > Mortgage Refinancing Advice for 2010

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