Wealth Disparities in U.S. Approach 1920’s Levels

ShareUpdate: A reader, who identifies himself as “Rob” says the powerful moneyed interests are American heroes as opposed to the “socialist cronies [who] have created a nation of parasites.” Rob threatens us with, “I don’t believe in a god, but am willing to play one.” Hey Rob, would you say your IQ is in the three-digit [...]

VA Mortgage applications surge as rates tumble

ShareVA Mortgage applications surge as rates tumble

Applications to buy a home hit highest level since early January
VA mortgage applications surged last week, with demand rising to its highest level since late-May as Veterans sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
While home refinancing loans dominated [...]

Vice President Biden Announces Expansion of Pentagon Homeowners Assistance Program Under Recovery Act

ShareSAN DIEGO, CA – Standing at the USS Ronald Reagan in San Diego today, with U.S. sailors and their families, Vice President Joe Biden today announced the Defense Department’s plan to temporarily expand its Homeowners Assistance Program (HAP), with $555 million in Recovery Act funds dedicated to helping military families and DoD civilians who recently [...]

VA Loan no guarantee to buying a home

ShareBy Fred Davis  
Laurie Lopez is exasperated with her family’s home search.
She and her husband John, a 4-year veteran of the United States Navy, are both in their early 30s, have good credit, good jobs and have already been approved for a $225,000 home loan by their mortgage company.
Problem for them is, they’re trying to use [...]

Lenders offer leniency

ShareBy Jessica Foster
Mortgage rates have hit historic lows, enabling home owners to slash their monthly payments by locking in a new rate.
But many people don’t qualify to refinance – either because they don’t have enough equity in their homes, their income has dropped or they’re behind on payments – and those are often the [...]

Military Homebuyers Seize Opportunity in California

ShareKitchen Table Conversations
by Nancy Farghalli
Military families are beginning to take advantage of falling home prices. A military salary has never been enough to buy into the overpriced housing markets in this part of the country, but that is changing because….
     
Bad news for the economy may mean good news for some homebuyers. Median home prices across [...]

Kerry Pushes for Foreclosure Protection for Military Families, Veterans

ShareWASHINGTON, D.C. – Senator John Kerry (D-Mass.) today offered legislation to strengthen protections against foreclosures for active duty military service members and veterans.  The legislation would help our military families by allowing the Secretary of Veterans Affairs to pay the balance on outstanding mortgage loans guaranteed by the Department of Veterans Affairs (VA.)  
“The brave [...]

Top 10 Veterans News from Around the Country 4-10-09

ShareWhat’s Inside Today’s Local News for Veterans
1. Obama Announces Joint Electronic Record System For Vets.   2. University Of Hawaii Nursing School Selected For VA Program.   3. Ribbon Cutting Ceremony To Be Held For Clinic In New York.   4. Caregiver Sentenced For Mistreating Vet.   5. VA Helping Provide Adult Day Care To Vets.   6. American Indian Memorial Planned At Riverside.   7. VA Employee [...]

Obama Urges Millions to Refinance Mortgages

Share‘People can really take advantage of this’ _ president says of low rates
WASHINGTON – Declaring "good news" in the midst of an economic meltdown, President Barack Obama on Thursday urged families to take advantage of record low mortgage rates by refinancing their homes.
"We are at a time where people can really take advantage of this," [...]

Q&A on the Obama Foreclosure Plan, and What it means for you

ShareQuestions and Answers for Borrowers about the Homeowner Affordability and Stability Plan from the U.S. Department of Housing and Urban Development.
Borrowers Who Are Current on Their Mortgage Are Asking:
1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?
Under the Homeowner Affordability and Stability [...]

White House may move to buy mortgages

ShareNew proposal could break logjam of foreclosure relief efforts
By John W. Schoen
The White House is considering a proposal to head off potentially millions more home foreclosures by using federal funds to buy up at-risk loans and then refinance them with more affordable terms.
Treasury Secretary Timothy Geithner and other Obama administration officials met Wednesday with a [...]

Do-it-Yourself Loan Modification for Veterans

ShareSuccessful Loan Modification
by John P. Allen
Many Military Veterans have adjustable subprime mortgages and are now desperately seeking solutions to their increased payments.  I take phone calls all day long from Veterans that say stuff like “I am Scared” “What a Mess I Got Myself Into” and “What an Expensive Lesson I Just Learned – Never [...]

Veterans: Legally Get Out of your Bad Home Loan with a Forensic Loan Audit

ShareLoan Forensic Audits: How To Legally Get Out Of Your Bad Loan
by John P. Allen, General Manager of the Veterans Today Network
Leverage!  Remember that buzz word!  You see when Veterans look for a mortgage, whether it be a VA Home Loan, FHA, or conventional, they rely on professional advice and the aid of a mortgage [...]

Home Loan Modification for U.S. Veterans

ShareVeterans with Hardships Get Help on their Home Loans with Loan Modification
by Jerred Bulstrom, USMC
Recently, in the media, you may have heard the phrase "Loan Modification" and it sounded intriguing.  But what is it and can it benefit you and your family.
Loan Modification is arguably the most effective tool you can use if you are behind [...]

VA Mortgage rates tumble to lowest since 1971

Share"A whole new game," mortgage broker says; but labor market still weak
MCLEAN, Va. – VA Mortgage rates are falling as this week’s dramatic action by the Federal Reserve provides a boost to the dismal housing market, but the nation’s unemployment rolls are stuck at historically high levels amid a deepening recession.  Jason Jabloski with Equity [...]

VA Home Loan Mortgage rates at lowest level since January

ShareVA Home Loan Mortgage rates at lowest level since January
Average now 5.49 percent — and further cuts could be on the way
by Ezell Johnson
WASHINGTON – Rates on 30-year VA Home Mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market.
Average rates [...]

Enhanced VA Mortgage Options Now Available for Veterans in Distress

ShareEnhanced VA Mortgage Options Now Available for Veterans Of Potential Benefit to Those in Financial Distress
WASHINGTON — Veterans with conventional home loans now have new options for refinancing to a Department of Veterans Affairs (VA) guaranteed home loan.  These new options are available as a result of the Veterans’ Benefits Improvement Act of 2008, which [...]

3 Major Changes to VA Home Loan Guaranty Program

ShareOn October 10, 2008, the President signed S. 3023, the Veterans’ Benefits Improvement Act of 2008. Following are the three major impacts to the VA Home Loan Guaranty Program:
1. Authority to guarantee adjustable rate mortgages (ARMs) and hybrid adjustable rate mortgages (HARMs) has been extended through September 30, 2012.
2. The maximum guaranty for cash-out refinance [...]

Untold Mortgage Crisis: Families Facing Military Foreclosures

ShareThe Biggest Untold Mortgage Crisis: Help for Families Facing Military Foreclosures
by Carla Douglin More and more military families are finding themselves in the middle of a mortgage nightmare. Soldiers are returning after several tours of duty, only to find they are on the verge of losing their homes. While trying to rebuild their lives, they face [...]

VA Loans Remain a Strong Option for Veterans

ShareVA Loans Remain a Strong Option for Veterans
Agency Sees Significant Increase in Loan Volume over Past Year
WASHINGTON – More servicemembers and veterans are using their Department of Veterans Affairs (VA) home loan guaranty benefit, as VA’s loan program remains a strong option in today’s housing market.
VA is experiencing a significant increase in home loan volume, [...]

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