Best time for borrowers to ask for help

Monday, December 1st, 2008

Read this interesting article in The New York Times on how lenders are willing to change the loan terms if homeownership costs exceed 38 percent of gross monthly income a measure known as the debt-to-income ratio. With the economy in full retreat and the jobless rate rising, borrowers and lenders ...

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Balloon amortization

Wednesday, November 12th, 2008

A balloon payment is a large onetime payment that is made to pay off a loan. A balloon amortization mortgage loan is offered by many lenders as a way to refinance your home loan if you can qualify certain credit worthiness. A mortgage amortization loan followed by a balloon payment is ...

Posted in Foreclosure News, Nation, Real Estate | 2 Comments »

President Obama’s plan to tackle housing crisis

Thursday, November 6th, 2008

In midst of nation's financial crisis a ray of hope has emerged with Barack Obama being elected as the nation's 44th President. The President's immediate focus is on deciding how to implement the $700 billion rescue program which the Congress had passed in October. He has proposed a 90-day foreclosure ...

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