Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its target range of 0.000-0.250 percent.

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For today’s home buyers and homeowners that can manage the higher monthly payments, 15-year fixed rate mortgage rates look attractive as compared to comparable 30-year products. The 15-year/30-year interest rate spread is near its 5-year high. As a result, the savings afforded by the 15 year mortgage is at its 5 year high also. Despite [...]

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Image via Wikipedia The First Time Home Buyer’s Tax Credit has had a great impact on the housing market this year. In the industry we have watched the market get better every quarter this year, due in large part to the numbers of first time home buyers that came into the market to get their [...]

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Image by mary hodder via Flickr Congratulations! Your loan modification is almost done. Here are just a few tips to wrap up the process. You’ll receive a loan modification packet from your bank that looks very similar to loan documents. Review them to ensure the following terms are what you agreed to: Interest rate Interest [...]

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Image by TheTruthAbout… via Flickr If you’ve gotten this far, congratulations! It means you’ve been approved as a loan modification candidate and the bank has or will be making you an offer very soon. This post will cover some ways to negotiate with your lender to get the best possible modified terms for your new [...]

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Image by TheTruthAbout… via Flickr So far we’ve discussed the basics as it relates to getting a loan modification. Now we’ll talk about a few tips that will help you qualify for a loan modification. These tips are centered around your hardship letter and the monthly expense worksheet. The hardship letter Called an LOE in [...]

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Image by TheTruthAbout… via Flickr So far we’ve discussed the basics as it relates to getting a loan modification. Now we’ll talk about a few tips that will help you qualify for a loan modification. These tips are centered around your hardship letter and the monthly expense worksheet. The hardship letter Called an LOE in [...]

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Image by taberandrew via Flickr So far in this series we’ve talked about the process of loan modifications, how to get started and how to collect the information you need to accurately complete your monthly expense worksheet. The monthly expense worksheet is going to be used by your lender to determine if you qualify for [...]

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Image by TheTruthAbout… via Flickr Once you’ve received your loan modification application from your lender it’s time to do your home work. What do we mean by “your homework?” We mean simply the collecting and ascertaining of your income and expenses in order to successfully complete your loan modification application. In brief – think back [...]

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Image by TheTruthAbout… via Flickr Getting Started with a Loan Modification The mortgage payments are soaring because your ARM reset, or your income was cut in half, or two-thirds, or completely by a recent layoff. The bills are piling up and the savings is disappearing quickly. You need relief, and you’ve heard a lot about [...]

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