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Interest Rate Update: the 5/1 LIBOR ARM

by Irene Moustakas | Mar 10, 2009 | Loan Programs and Products, Rates

I’ve mentioned in previous posts that interest rates on 30 Year Fixed mortgages have been better and more competitive than any other loan products, namely Adjustable Rate Mortgages (ARMs). This has been the trend for the past 6 months or so. It is...

Obama’s Making Home Affordable Plan: The Most Recent Details

by Irene Moustakas | Mar 5, 2009 | General Market News, Industry News, Loan Programs and Products

There are two sub-plans to The Homeowner Affordability and Stability Plan. The first provides homeowners who lack sufficient equity the ability to refinance their loans. The second helps homeowners who have fallen behind on their mortgage payments the ability to...

Your Payment Responsibilities as a Homeowner

by Irene Moustakas | Feb 26, 2009 | 1st Time Homebuyers

Part of Homebuying 101 is what your payment responsibilities are as a homeowner. There are either 3 or 4 items, depending on how much you have to put down. Your Mortgage Payment Mortgage Insurance (not necessary when you have 20% or more as a down payment) Homeowners...

Homeowner Affordability and Stability Plan: FAQs

by Irene Moustakas | Feb 23, 2009 | General Market News, Industry News

Part of Obama’s attempt to stabilize our housing market is the Homeowner Affordability and Stability Plan.  There are two initiatives that are included within this plan.  One is for homeowners that have between an 80% and 105% Loan-to-Value ratio in their home...

2009 Loan Limits Set to Increase

by Irene Moustakas | Feb 16, 2009 | General Market News, Industry News

Many of you know that the high balance conforming loan limit decreased from $729,750 to $625,500 in January 2009.  This has hurt many people whose loans fall into that bracket.  But there is good news!  The House and Senate passed the American Recovery and...
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