In an effort to "catalyze the securitization market", the Federal Reserve has announced it will launch the Term Asset Backed Securities Facility (TALF) on March 25.
The program has the potential to spur $1 trillion in lending for businesses and households, which will provide up to $200 billion to investors especially in Missouri. The operations will be made on a monthly basis and will extend until at least December 2009, after which the program will be reconsidered. This will assist missouri mortgage company to produce more mo fha loans.
read the entire article here: http://www.vandykstl.com/extras/mortgage-blog.html
Sunday, March 8, 2009
Thursday, March 5, 2009
Federal Home Affordable Refinance Program Guidelines
This program officially goes into effect on April 4th 2009. It is meant to assist homeowners that have been making their mortgage payments on time but have been unable to refinance to take advantage of lower rates due to decreasing housing values.
It is not geared for people that are currently or recently have been behind on their mortgage payments. For those people there is a new Government backed loan modification program in effect today that can help you lower your payments and save your home. We will discuss the federally backed modification program in another article in detail shortly.
If you think you may qualify and want to get information about the new Federal Florida Affordable Home Refinance Program please call us today at 800-871-2636 or Apply Online NOW!
Eligible Mortgage Loans: - Any loan owned by Fannie Mae, Freddie Mac
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Multiple Mortgages To the Same Borrower: - No Limit
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Read the full explanation at: http://www.fivestarsmortgage.com/mortgage-articles/31/
It is not geared for people that are currently or recently have been behind on their mortgage payments. For those people there is a new Government backed loan modification program in effect today that can help you lower your payments and save your home. We will discuss the federally backed modification program in another article in detail shortly.
If you think you may qualify and want to get information about the new Federal Florida Affordable Home Refinance Program please call us today at 800-871-2636 or Apply Online NOW!
Eligible Mortgage Loans: - Any loan owned by Fannie Mae, Freddie Mac
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Multiple Mortgages To the Same Borrower: - No Limit
Occupancy: - Occupancy of the property securing a Refi Plus loan may be a primary residence, second home, or investment property.
Read the full explanation at: http://www.fivestarsmortgage.com/mortgage-articles/31/
Tuesday, February 3, 2009
Senate Version of Stimulus Package Looks Bigger and Faster Acting Then House Bill
So it appears that Government may actually be able to function under an Obama administration.
First reports indicate that the Senate has streamlined and improved the House version of the 2009 Stimulus package.
The Senate version of the bill looks to spend about $64B more than the house version. The Senate version has more money for tax cuts and infrastructure spending than the House bill. The senate plans to spend 78% of the funds by 2010 compared to the House bill which was only planning to utilize 64% of the funds in the same timeframe.
Like the $6M Man the Senate version appears to be bigger, stronger, faster. We have the technology!
One of the biggest areas of attention about to be debated is the housing crisis. Obama wanted to deal with the housing crisis with a second follow up package after he got this one passed. It appears the Republicans feel that it should be addressed with this stimulus package since housing is at the heart of our economic problems. We feel finally some people on the hill get it! Surely Democrats will be opent to adding provisions to help out the troubled housing market with the stimulus package. This fact makes the likelihood of a Stimulus bill being passed by the Senate sometime next week highly likely. Perhaps Obama will have a nice Valentines day suprise he can sign into law he can give to his supporters as a V-day gift!
Look for some kind of interest rate or possibly waving of the tax credit repayment to be included this week in the stumulus package from the Senate. Even better would be if they allowed the $7K new home buyer tax credit to be immediately applied to downpayment assistance or closing cost assistance. Lets keep our fingers crossed that the talking heads are as eager as the rest of American to grease the wheels of the housing market and turn this thing around finally.
First reports indicate that the Senate has streamlined and improved the House version of the 2009 Stimulus package.
The Senate version of the bill looks to spend about $64B more than the house version. The Senate version has more money for tax cuts and infrastructure spending than the House bill. The senate plans to spend 78% of the funds by 2010 compared to the House bill which was only planning to utilize 64% of the funds in the same timeframe.
Like the $6M Man the Senate version appears to be bigger, stronger, faster. We have the technology!
One of the biggest areas of attention about to be debated is the housing crisis. Obama wanted to deal with the housing crisis with a second follow up package after he got this one passed. It appears the Republicans feel that it should be addressed with this stimulus package since housing is at the heart of our economic problems. We feel finally some people on the hill get it! Surely Democrats will be opent to adding provisions to help out the troubled housing market with the stimulus package. This fact makes the likelihood of a Stimulus bill being passed by the Senate sometime next week highly likely. Perhaps Obama will have a nice Valentines day suprise he can sign into law he can give to his supporters as a V-day gift!
Look for some kind of interest rate or possibly waving of the tax credit repayment to be included this week in the stumulus package from the Senate. Even better would be if they allowed the $7K new home buyer tax credit to be immediately applied to downpayment assistance or closing cost assistance. Lets keep our fingers crossed that the talking heads are as eager as the rest of American to grease the wheels of the housing market and turn this thing around finally.
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