Reduce Your Mortgage – 5 Things You MUST Know About The $75 Billion Housing Plan

February 23rd, 2009 by michael e. riley

Presently the banks are often unable to help reduce mortgage rates for homeowners that are current on their loans. The Obama’s proposed plan is designed to alleviate the situation by encouraging banks to refinance or modify mortgages for responsible homeowners even if they are not yet behind on their payments.

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Posted in In The News,Loan Modification Help Closed

Minorities Most Affected By Housing Crisis

February 20th, 2009 by michael e. riley

mortgage modification program – Nearly 9.5 million households, or nearly one out of every five of the nearly 52 million homeowners with a mortgage, spend 38 percent or more of their pretax income on their mortgage payment, property taxes and insurance, the AP’s analysis found. That’s the new threshold to qualify for the loan assistance program launched last month by Fannie Mae and Freddie Mac, the mortgage finance companies now under government control.

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