admin | February 21, 2010
On December 1, 2009, the Treasury announced that is was going to begin fining services that fail to permanently modify as many mortgages as the government thinks they should be. Servicers failing to meet performance obligation under the Servicer Participation Agreement will be subject to consequences which could include monetary penalties and sanctions. When a mortgage is modified, it must first go through a trial phase. The problem however is that in many cases these modifications were not made permanent.
Category: Loan Modification Series |
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Tags: Chase International, homeowner-assistance program, Loan Modification, mortgage, Nevada, NV, Real Estate, reno, Servicer Participation Agreement, Talayka, www.sellingnorthernnv.com
admin | January 7, 2010
We have been seeing a drastic decline in foreclosures across the country, many markets show signs of stabilization, and it is beginning to look like the end of our current housing crisis is in sight. However there is small group of mortgage products that may have been overlooked, the Option Adjustable-Rate Mortgages (ARMs) with five-year resets.
Category: Financing/Mortgage Topics, Short Sale & Foreclosures |
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Tags: 5 year ARM, Adjustable Rate Mortgage, Chase International, Loan Modification, mortgage, Nevada, NV, Option ARM, Real Estate, reno, Subprime, Talayka, www.sellingnorthernnv.com
admin | January 3, 2010
The Home at Last Program Is a Mortgage Credit Certificate (MCC) program that provides a dollar-for-dollar federal income tax credit equal to 20% (for loans over $190,000) or 30% (for loans under $190,000) of the interest paid on a mortgage loan. This credit is given to the homebuyer every year as long as they live in the home. This tax credit will provide an estimated annual savings of $2,000 a year per household.
Category: Financing/Mortgage Topics, Tax Credits |
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Tags: Chase International, Home at Last, Homebuyer, loan limits, mortgage, Nevada, NV, Real Estate, reno, Rural Housing, Talayka, Tax Credit, www.sellingnorthernnv.com
admin | September 28, 2009
The following FAQ may answer some of the concerns you may have on the new HERA mortgage requirements and how they will affect the timeline of your real estate transaction.
Category: Financing/Mortgage Topics |
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Tags: Chase International, FAQ, HERA, Homebuyer, Housing and Economic Recover Act, lending regulations, mortgage, Nevada, NV, Real Estate, reno, Talayka
admin | September 28, 2009
In 2008, the Housing and Economic Recover Act (HERA) was passed by Congress and became effective July 30, 2009. The Federal Reserve Board published the new regulations under the Truth in Lending Act.
Category: Financing/Mortgage Topics |
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Tags: Chase International, HERA, Homebuyer, Housing and Economic Recover Act, lending regulations, mortgage, Nevada, NV, Real Estate, reno, Talayka
