[ F1 News: ] mortgage calculator. HARP rules will ease mortgage refinancing

On Either Side of the Atlantic a Common String of Thought is Running Through the Leaders – It is to Push the Job Problem Into the Backyard

Article by Anyele

One of the worst scourges afflicting the entire Western world is unemployment. In America about 14 million are without jobs, page millions of others are under-employed – either working part time or stuck with assignments that do not do justice to their skills. In some of the European countries the situation is worse. In Spain the unemployment is 21%. There are no signs of the situation improving. The tragedy is continuing.

All rational policy leaders will give the top priority to reversing this trend. But on either side of the Atlantic a common string of thought is running through the leaders is to push the job problem into the backyard. This is done very cleverly by sugar coating the bitter pill.

They need to be told that making up excuses not to put back the unemployed into work is neither prudent nor responsible. In fact it is a horrendous running away from responsibility.

What are the excuses being put forward? The recent report on the economy by OECD (Organization for Economic Cooperation and Development) stated, “The room for macroeconomic policies to address these complex challenges is largely exhausted”. The OECD liaison between the governments but it does not by itself initiate policies directly. It reflects the typical wisdom of the policy-elite of Europe. It advised the nations to “go structural” or to concentrate on long-term reforms that would make no dent on the present employment scenario. No suggestions were made of how the trend of unemployment could be reversed; it only highlighted the risks of moving away from conventional policies.

None is talking seriously about generating jobs. The Republican Party keeps harping on tax cuts and deregulation. The Obama government gave up talking about it nearly eighteen months ago.

Is anybody in power talking of jobs? None! But something should be done and can be done.

It is well to remember that the people are without jobs because they are lazy or because they lack skills. There is nothing wrong with the America workers. Only four years previously the unemployment figure was 5%.

At the heart of the trouble is the economy centred on the mortgage debt problems. The debt that was caused by the bursting of the housing bubble is persistently pulling back the economy and putting brakes on any actual recovery in the employment segment. Once this realization dawns that private debt is at the root of the problem then the solutions can be thought of along these lines.

About the Author

Anyele, has been working on usreoproperties with real estate owned properties, studying the foreclosures market and helping buyers in their purchases.

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Obama’s New Mortgage Refinance Plan

Article by Julie Jalone

President Obama announced a new plan to help home owners who want to take advantage of ultra-low mortgage rates and lower their mortgage payments by refinancing. The administration hopes changes to the Home Affordable Refinance Program will help about 1 million home owners qualify to refinance.

Here are more details about the newly announced changes to the program:

HARP: The Home Affordable Refinance Program started in 2009. It allows home owners to refinance at lower rates without having to meet the typical requirement of having at least 20 percent of equity in their home. Under current guidelines, buy more about many underwater borrowers have been ineligible for the program because their home values had to be no more than 25 percent below what they owed their lender. Also, health some home owners were unable to afford the closing costs and appraisal fees to participate.

Changes:

•The 125% loan-to-value cap, salve which prevented borrowers from refinancing if the value of their homes had tumbled, has been removed.•Borrowers will not need a new property appraisal if Fannie and Freddie have enough data in their automated valuation system to estimate the value of the property. This not only speeds up the refinancing process but also eliminates the appraisal fee.•Certain fees associated with the risk of the loan will be reduced. Those fees will be eliminated for borrowers who refinance their mortgages into a shorter-term loan such as a 20-year mortgage or a 15-year mortgage.•The program, which had been scheduled to expire in June 2012, has been extended through the end of 2013.•Those who bought a house as their primary residence but now hold the property as an investment will be able to refinance through HARP at an additional cost.•Lenders will be waived of certain liabilities on the original loans if they refinance those loans through HARP.

Eligibility:

•Home owners with loans backed by Fannie Mae or Freddie Mac can participate. (Home owners can visit: freddiemac.com/mymortgage or fanniemae.com/loanlookup to determine if their mortgage is owned by either). •Home owners must be current on their mortgage.

Start Date: The changes could take effect by Dec. 1. HARP also is being extended through 2013 to allow more home owners the opportunity to qualify.

Impact: Will it work? The administration hopes that by home owners being able to lower their monthly mortgage payments (with an average annual savings of ,500 expected), they’ll be more likely to stay current on their mortgage and avoid foreclosure. Also, the administration hopes that it will then free up household money to start spending more on other things, which could provide an overall boost to the economy.

In my opinion, the revised HARP requirements are a step in the right direction but the housing market needs much more than a refinancing plan designed to help 1 million homeowners. Where is the help for homeowners who are delinquent on their mortgages? What about unemployed homeowners? We need the administration to support easing of the current restrictive lending environment.

If you have any questions or comments about the revised refinance program, please send me an email to juliej@jalone.com.

About the Author

Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor serving the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

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housing solutions

article by Alex Vitti

mortgage rates remain near lows for the coming year, visit this site while property prices are expected to remain flat, malady the Mortgage Bankers Association chief economist said on Tuesday.

And both are expected to do little to inspire someone to buy a house.

Right now, more about many tenants contents are still renting, Jay Brinkmann, chief economist for the group said, at the annual meeting of the MBA in Chicago this week. “As we see the first stories about rising prices, the market begins to pick up something,” he added said.Rates on the 30-year fixed-rate mortgage averaging 4.4% next year are expected, after averaging over 4.5% in 2011 , according to the MBA forecast. Prices are expected to climb to an average of 4.9% in 2013.

This expectation of low rates and low prices of what is to keep consumers remained stubborn.

“Consumers are pretty well in tune,” said Doug Duncan, chief economist for Fannie Mae, adding that “a good handle on the fact that prices will not rise anytime soon.”

The Housing Market is in its fifth year of a 10-year-adjustment of prices, Duncan said, informed the reporters at the meeting. He expects a 3% decline in prices from now until early next year, without fire sales, with prices flat the rest of 2012.

And that means another weak year for the mortgage industry.

total there is 0 billion in financing volume expected in 2012 – the lowest volume for the industry since 1997, according to the MBA. Originations are expected to reach 0.2 trillion in 2011. Next year, funding is expected to fall significantly, coupled with only a slight increase in mortgage to buy a house.

Of course, any prediction is these days with a number of limitations.

Europe may already be in recession, and the failure of Greece is a foregone conclusion, said Brinkmann. A recession could move across the pond to the United States into a mild recession, he added.

“When the economy goes into recession remain, prices would be lower for longer, but we do not anticipate that they would fall substantially. When the economy recovers quickly, could be faster even with the Fed’s operating Twist, longer-term rates” Brinkmann said.The road ahead

Despite rising uncertainty, could little things done to improve the housing market, said Mark Zandi, chief economist of Moody? s Analytics, who spoke during a MBA panel discussion.

“I do not think our problems are overwhelming. I think they are manageable and do not think we need a big thing, going to have to solve our problems. We just need a few things to do around the edge, and the case will be in a better place for a year, a year and a half from now, “Zandi said.

One of the ideas, the major discussion at the meeting was given was the government’s request for proposals on how to transfer foreclosed properties to rent. Read more: U.S. moves to sell, rent or lease 92 000 foreclosures

“This could really make a difference in prices … in markets where foreclosures are concentrated so high,” said Jared Bernstein, a panel member, former economic policy advisor . Vice President Joseph Biden.

The objective would be to take some of these distressed properties from the housing market, a need in some communities for several rental properties, while stabilizing property prices, he said.

Stabilizing property prices is key to the market back on track .. If prices stabilize and start to move north, you’ll see less of the 14 million borrowers who are underwater in default strategically.

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HARP Loans For Underwater Homeowners To Refinance Into Lower Mortgage Rates

Article by Karan Agarwal

For much of the past year, sildenafil mortgage rates have been at or near record low points. Unfortunately, clinic many homeowners have been unable to take advantage of these rates due to declining home equity. Many homes have lost significant amounts of value since the housing market peaked in 2006. As a result, about it many homeowners now owe more on their mortgage than their home is worth (this condition is known as being “underwater” or “upside-down” on one’s mortgage). Homeowners who lack equity in their homes are frequently unable to meet the loan-to-value (LTV) ratios required by lenders in order to refinance their mortgages. These borrowers may be missing out on thousands of dollars worth of savings.

In response to this situation, the government created the Home Affordable Refinance Program (HARP). HARP was designed to allow homeowners with little to no home equity to refinance into lower mortgage rates. HARP loans are available to borrowers with LTVs of as much as 125 percent, although the maximum LTV it varies by lender.

Some of the eligibility requirements for HARP are:

• The borrower’s mortgage must be owned by Fannie Mae or Freddie Mac• The home must be the borrower’s primary residence• The borrower must be current on their mortgage with no late payments in the last 12 month period• The new loan must lower the borrower’s monthly payments

For a complete listing of the HARP eligibility requirements, check out the Making Home Affordable Webpage here.

And these are just the primary eligibility requirements. There are others. Therefore, it is imperative that homeowners seek the help of professionals who are well versed in the demanding and fairly complicated HARP Loan process.

As you can see, the history of HARP is still evolving and subject to future changes. For now, HARP is due to expire on December 31, 2013, but if housing market conditions continue to decline, then hopefully the Federal Housing Finance Agency (FHFA) will continue to adjust to the new circumstances. Presently, a nice feature of HARP is that homeowners can avoid paying for an appraisal if a reliable automated property valuation model, such as Zillow, is available for your particular area, subject to the mortgage servicer’s discretion of course.

The significant changes in HARP eligibility requirements announced by President in October 2011 have led mortgage industry insiders to dub it HARP 2.0, even as the history of HARP is little more than two and a half years old. The Mortgage Bankers Association has previously estimated that 0 billion in mortgages will be originated in 2012 but with HARP 2.0 fast becoming effective, this number will certainly rise. Unfortunately, HARP was not designed to help homeowners already in foreclosure proceedings or in danger of being foreclosed upon.

The HARP loan program has been extended through June 11, 2011.

About the Author

To learn more about the mortgage options available to you, visit http://www.confirm-eligibility.com/

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mortgage calculator. HARP rules will ease mortgage refinancing

products by Bessie Wallace

The Federal Housing Finance Agency (FHFA) has awaken to the Department of the Treasury partnership on the way to introduce the Home Affordable Refinancing Program (HARP) again. Select importance of HARP tropical island bar below to program borrowers to continue with a review of God is a sign for candidates qualify refinance due when it comes to the situation at home values ??is to refinance their mortgages in the direction to apply in a section below chase rate and / or an extra hardy payday loans product.This Isle of good news from home and apartment owners with the South Florida wanted to go through zone of the Almighty towards refinancing of its current oil lending product gentleman would come Remark question because, buy more about in contrast to the strict underwriting guidelines.In my old website posting week I explained that another tropical island refinance program easily exploit in the Miami market, approved Fannie Mae DU (Desktop Underwriting) Refi Plus.HARP area simply to refinance a few choices when it comes to undertake the establishment of qualified harp, less than April 2009, Fannie Mae and Freddie Mac in the opposition to help homeowners.Since comes close to nine million families refinance into a correct value or more sustainable loan product.Out every little thing the refinancing of standard available, HARP area, the vast majority, that it is unique among the Isle exclusive method for borrowers to refinance our debt also allows God to be their home islands of major worth it.

Benefits on the way to the borrower function reduces Quest also reduce payment detailed payments.Another cheer region, that this system might take when it comes to large stabilization of Miami tangible property market. Identify 125% removal of the external loan-to-value in a financial loan with spinal Speed ??- A number of changes in the vicinity of the system were close to buying a larger current in the contrast of the eligible borrowers.Below stay on a handful of process improvements announced .. either Fannie Mae or Freddie Mac

-. Eliminating certain risk-based follow Jesus with borrowers in short-term refinancing of mortgage related -. Without the hope of a measure of new retail space analysis, where there is a respectable goal AVM (automated valuation models). One of the major changes of rain across the island, the stripping of positive risk-based fees, the borrower in the direction of short-term benefits Carry mortgages.This remote island big chit chat with borrowers who owe more than their current permits oil ownership target worth.These House and apartment owners keep qualifies towards minimizing their great credit unknown faster shortening the duration of its bank credit note.Also by chopping the hunting rate is the helpful amount stick probably be on their way to their external value or is likely to go through a detailed payment . reduce

Also, if your total tropical island is the same, a second set of a particular goal can pay less on the pocket in addition to more in the direction of your boss thus composing equity share earlier, mainly as a method later.This Isle area in the direction of waves in contact with 15 November 2011 in addition to the currently ends in the direction of line 31 December 2013.Now almost every living person! to their property to refinance I’m wearing a spin collected for eligibility indicative description .. a contribution – Mortgage maintain important or certainly held by way of both Freddie Mac and Fannie Mae -. HARP refinance can not live in the past with the exception that it was Fannie Mae is an effective from March to May 2009

-. Current loan-to-value holiday demand is higher than 80% -. Must keep current on the loan at the time of refinancing, no late payments within the previous six months, not more than a late-value below the last 12 months -. Condominiums, the first already eligible to continue down harp, which meet the requirements originally on the first study to walk closer to the borrower tropical island, or if his mortgage is probably with the help of Freddie Mac or Fannie Mae.If was to hold a certain opinion, where specific to look if it, just a touch to either your current oil finacial organization or a seasoned expert lending product comes broker.Refinancing, may still be a good means to a certain date in the secondary!

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We are 2.0

Harp mortgage specialists. Harp loans require experience and knowledge to ensure that they are done. Why this has to do from experience, many of these loans. www.wedohomeloansforyou.com / 801-747-9176 I harp HARP your loan specialist, Ben Gerritsen am There are many small differences …
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