The News Review:
- Divorce can raise deed, loan issues on home
- FHA helps 400000 families find mortgage relief
- Mortgage Refinancing
- US needs to stand up to hedge funds
Divorce can raise deed, loan issues on home
San Francisco Chronicle, USA
In the divorce, I got one and he got one. We both signed quitclaim deeds to each other. However, I needed to refinance mine to pay off the bills I accumulated just to get my house back into livable shape. (It was a rental while we were married.
FHA helps 400000 families find mortgage relief
7thSpace Interactive (press release), NY
May 2008 – FHA helps200,000 families refinance their mortgages since September 2007. July 2008 – FHA expands FHASecure to help homeowners with adjustable rate subprime mortgages who can no longer afford their mortgages and missed up to three monthly mortgage payments over the past 12 months. Rather than go into foreclosure, eligible borrowers can refinance with FHA and lenders can voluntarily write down the outstanding subprime mortgage principal balances. August 2008 – FHA helps 300,000 families refinance their mortgages since September 2007. October 2008 – HUD launches the HOPE for Homeowners program to refinance mortgages for eligible borrowers who are having difficulty making their payments, but, after a write-down in principal, can afford a new loan insured by HUD’s Federal Housing Administration (FHA). October 2008 – FHA helps 400,000 families refinance their mortgages since September 2007. (202) 708-0980
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Mortgage Refinancing
Food Consumer, IL
But before deciding, you need to understandall that refinancing involves. Your home may be your most valuablefinancial asset, so you want to be careful when choosing a lender orbroker and specific mortgage terms. Remember that, along with thepotential benefits to refinancing, there are also costs. When you refinance, you pay off your existing mortgage and create anew one.
US needs to stand up to hedge funds
The Australian, Australia
The more blood they get in their nostrils, the more their authoritarian tendencies seem to be aroused. Letters Frank sent out on Friday are a case in point. The letters were prompted by a New York Times article about two hedge funds opposed to Washington’s plan to refinance troubled homeowners into government-insured mortgages. The program, which has always been voluntary, is predicated on investors agreeing to take a substantial haircut on their mortgage-backed investments. The hedge funds, Greenwich Financial Services and Braddock Financial Corporation, have instructed the servicers of their mortgages not to comply with the government program, on the grounds that it is against the best interest of their investors. So Frank sent off letters expressing his outrage. They were co-signed by five other Democrat committee chairs: the capital markets, insurance and government sponsored enterprises sub-committee chairman Paul Kanjorski; the financial institutions and consumer credit sub-committee chairwoman Carolyn Maloney; the housing and community opportunity sub-committee chairwoman Maxine Waters; the international monetary policy trade and technology chairman Luis Gutierrez; and the oversight and investigations sub-committee chairman Melvin Watt.
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