“Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” NAR chief economist Lawrence Yun said in a statement. They say that the future favours the bold, and if the above statement is any indication, it is that Mr. Yun and the NAR are bold. What is more interesting is that the future …
No, the Senators in Washington are not trying to make the national instrument of Ireland larger, but what has been proprosed is to expand the amount of mortgages that can qualify for the Home Affordable Refinance Program (HARP). They want to extended the deadline backwards toward 2009 from it’s current standing in 2010 and in addition …
The Federal Housing Finance Agency (FHFA) today released its July Refinance Report, which shows a key milestone was reached when more than 519,000 loans were refinanced through Fannie Mae and Freddie Mac under the Home Affordable Refinance Program (HARP) since the beginning of this year. That is more than the 400,000 loans re-financed last year. …
At the risk of sounding cliche within this short composition of economics – doesn’t quality of life matter in economic equations? Apparently not if you are the head of the FHFA Edward DeMarco. Fannie Mae and Freddie Mac could save $1.7 billion if they forgave principal on some troubled mortgages, the companies’ regulator said DeMarco …
The year is 2012. 5 years removed from the housing market meltdown. Yet here we stand, with mortgage rates at all time lows, affordability at all time highs, and still we find that Americans are having trouble getting lending from their own domestic banks. So it is welcome news that we see a new version …
The HARP program (Home Affordable Refinance Program) was brought into place to help secure the mortgages held by Fannie Mae and Freddie Mac. When it was originally implemented, there was a limit on the loan to value ratio for underwater borrowers. In essence, here is what this new change to the HARP program will do …