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• New Mortgage Law Has Buyers Scrambling

  Housing industry observers expect that prospective buyers will scramble to take advantage of seller-funded down-payment assistance before a federal ban on such programs takes effect on Oct. 1. The federal housing bill signed into law in July sews up a Read More... Posted Tuesday, August 19, 2008 7:31 AM by Dave Recker | 0 Comments Filed under: Real Estate, loans, Legislation

• Little-Known Loans for Buyers

  Just because low- and no-down-payment conventional loans are hard to come by doesn’t mean home buyers with little cash can’t get a deal. Two lesser-known federally-sponsored mortgage programs are still available for home buyers with steady Read More... Posted Tuesday, July 29, 2008 6:07 AM by Dave Recker | 0 Comments Filed under: Real Estate, Buyer Information, Rocky Mount, loans, NC North Carolina

• Good Credit Is Step One for Buyers

  Potential home buyers inevitably must confront their credit scores. Here’s a primer for those who have never faced this issue before: A credit score, commonly known as a FICO score, is derived from a history of taking on debt and paying it off. Read More... Posted Wednesday, July 23, 2008 6:53 AM by Dave Recker | 0 Comments Filed under: Real Estate, loans, credit, FICO, buyers

• Fannie Mae Raises Credit Standards

  Fannie Mae has tightened standards for the home mortgages it guarantees or buys. The government-sponsored provider of home loan funding told lenders Monday it will require a minimum credit score of 580 for most loans it buys on an individual basis. Credit Read More... Posted Thursday, April 10, 2008 2:05 PM by Dave Recker | 0 Comments Filed under: Real Estate, Tips & Information, loans

• Will New Subprime Rules Stabilize Market?

  The significant number of objections to new rules designed to protect consumers from subprime mortgages will be given careful consideration, says Federal Reserve Board Gov. Randal Kroszner. But Kroszner argues that their adoption will restore confidence Read More... Posted Friday, April 04, 2008 5:58 AM by Dave Recker | 0 Comments Filed under: Real Estate, North Carolina, NC, Rocky Mount, Tips & Information, afforability, loans, interest rates, mortgages

• What is the Subprime Mortgage Crisis?

  Here are many reports and articles about the subprime mortgage crisis. However, many consumers simply don’t understand what it’s all about. Why? The news media is too busy creating an atmosphere of crisis to slow down and do a simple explanation. Read More... Posted Monday, January 28, 2008 8:45 AM by Dave Recker | 0 Comments Filed under: Real Estate, afforability, loans, interest rates, mortgages

• Bush Wins Agreement to Freeze Mortgages

  Major mortgage lenders have agreed to lock in interest rates for five years on adjustable-rate loans made to financially troubled home owners who obtained adjustable-rate subprime mortgages between Jan. 1, 2005, and July 31, 2007. The deal with the Bush Read More... Posted Saturday, December 08, 2007 8:10 AM by Dave Recker | 0 Comments Filed under: Real Estate, loans, interest rates

• Subprime Woes Hit Buyers With Good Credit

  The assumption that the subprime mortgage crisis is limited to buyers with poor credit is mistaken, according to an analysis prepared for The Wall Street Journal , which examined more than $2.5 million in subprime loans made since 2000. In 2005, the peak Read More... Posted Friday, December 07, 2007 6:32 AM by Dave Recker | 0 Comments Filed under: Real Estate, loans, subprime

• Credit Crunch Likely to Reform Mortgage Industry

  America's previous stock-market crashes and corporate accounting scandals have spawned new policy to deal with the fallout from these crises and prevent them from recurring, and the current mortgage-lending debacle is likely to undergo a similar process. Read More... Posted Saturday, September 29, 2007 7:19 AM by Dave Recker | 0 Comments Filed under: Real Estate, Finances, North Carolina, Rocky Mount, loans

• Do Troubled Homeowners Deserve a Government Bailout?

  I question why the government should bail out home owners caught up in the housing downturn when many of them are in trouble because of greed or irresponsibility. Many homebuyers lack down payments, money for closing costs, and want to buy large homes Read More... Posted Wednesday, September 26, 2007 6:37 AM by Dave Recker | 0 Comments Filed under: Real Estate, Finances, North Carolina, Rocky Mount, afforability, loans, Legislation

• Will Credit Turmoil Lead to Fed Rate Cuts?

  Economists predict that if market turmoil continues, the Federal Reserve’s next step will be to cut interest rates for the first time in four years. "With financial markets in disarray and the potential for a credit crunch, the Fed will have Read More... Posted Saturday, August 25, 2007 6:57 AM by Dave Recker | 0 Comments Filed under: Real Estate, Rocky Mount, loans

• Finding a Mortgage Is Getting Tougher

  Borrowers with good credit but without 5 or 10 percent to put down are likely to be shocked at the rate they're offered, if they're offered a mortgage at all. Lenders are eliminating certain products altogether as well as requiring higher credit Read More... Posted Friday, August 24, 2007 4:52 AM by Dave Recker | 0 Comments Filed under: Real Estate, North Carolina, Rocky Mount, loans

• Tough Standards Put Lending on Temporary Hold

  It’s getting harder for many Americans with less than stellar credit to buy a home simply because fewer banks are willing to offer them loans. "Every day I hear about a number of lenders that are reducing their products," said George Hanzimanolis, Read More... Posted Wednesday, August 22, 2007 4:20 AM by Dave Recker | 0 Comments Filed under: Finances, NC Real Estate Web, afforability, loans

• Preapproved or Prequalified: What's the Difference?

  Confusing prequalification with preapproval can mean disappointment for both a home seller and a buyer. Real estate experts say it's smart to urge buyers to become preapproved by their lender – not just prequalified. For buyers to obtain a bona Read More... Posted Saturday, July 28, 2007 12:40 PM by Dave Recker | 0 Comments Filed under: Real Estate, Finances, Tips & Information, loans

• North Carolina Passes Anti-Fraud Mortgage Bill

  The North Carolina General Assembly has approved a bill that would make it easier to prosecute residential mortgage fraud. The bill defines the practice and makes it a felony to knowingly misrepresent or omit information about the mortgage lending process. Read More... Posted Monday, July 16, 2007 3:38 PM by Dave Recker | 0 Comments Filed under: Buyer Information, loans