All articles about Loan-to-value ratio

Private Mortgage Insurance helps lead the way in the Housing Recovery

Private Mortgage Insurers leading the way in housing recovery

Here's a link to Ricardo Cobos's mobile tool kit for mortgages: http://raleigh.mortgagemapp.com/mobile
Example of how PMI stretches your home-buying dollar.

 

One of the earliest indicators of the housing meltdown which began in 2007 was that issuers of Private Mortgage Insurance (PMI) began to contract their underwriting guidelines for issuing PMI policies.  In fact, so bad was the meltdown that many PMI companies either stopped issuing policies altogether while some were even forced file for bankruptcy protection. Continue reading Private Mortgage Insurance helps lead the way in the Housing Recovery

President Obama Urges Congress to expand HARP to ALL Homeowners

President Obama calls on Congress to expand HARP to ALL homeowners.

In his June 1, 2013 weekly address to Americans posted to the White House Youtube channel the president made the following assertions about the US economy.

  • Businesses have created nearly 7 million new jobs over the past 38 months.
  • An auto industry that was flat lining is once again the heartbeat of American manufacturing – with Americans buying more cars than we have in five years.
  • Within the next few months, we’re projected to begin producing more of our own crude oil at home than we buy from other countries – the first time that’s happened in 16 years.
  • Deficits that were growing for years are now shrinking at the fastest rate in decades.  The rise of health care costs is slowing, too.
  • And a housing market that was in tatters is showing new signs of real strength.  Sales are rising.  Foreclosures are declining. 
  • Construction is expanding.  And home prices that are rising at the fastest rate in nearly seven years are helping a lot of families breathe a lot easier. Continue reading President Obama Urges Congress to expand HARP to ALL Homeowners

Important Changes to Home Affordable Refinance Program (HARP)

Today the federal government  announced new rules that may allow homeowners who are struggling borrowers to refinance their mortgages at today’s ultra-low rates by  reducing monthly payments for some homeowners. The goal is that the monthly savings could provide a modest boost to the economy. It is important to note this help is NOT available to persons struggling to make the payments, in other words if you are behind on your payments you need not apply. Continue reading Important Changes to Home Affordable Refinance Program (HARP)

FAQ – First Time Home Buyer definition

a first-time home buyer is defined as someone who has not owned a primary residence in the three-year period ending on the date of purchasing the home. Married couples are considered first-time buyers if neither spouse has owned a residence in the previous three years.”