Fannie Mae removes debt-to-income requirements for HARP 2.0 loans

Fannie Mae reportedly has removed its ability to pay
requirements from the HARP 2.0 guidelines. That means that families
that have suffered from reduced income over the last few years
might be able to qualify for the HARP 2.0 program. The program will
still require no recent 30 day late payments on mortgages but
the

Mortgage interest rates remain near record lows as 2012 begins

While interest rates on mortgages have been relatively low
ever since the federal government began compressing rates in 2009,
mortgage interest rates have been especially low since about August
of 2011. The recent dip in rates was due to both global economic
factors and actions from the Fed. As we enter 2012 mortgage
interest rates

Operational details of HARP 2.0 to be announced this week

The details of the new changes to the HARP program are
reportedly going to be released on or before Tuesday November 15th.
The release of the operational details is a crucial step in the
roll out of the so-called HARP 2.0 program. However the program
will probably not be functional on the ground level for

Mortgage interest rates plumbing new lows

As we begin 2012 interest rates on mortgages are testing new
lows. Borrowers with excellent credit and plenty of equity are
seeing 30 year fixed rates below 4%. Rates are not quite that low
in cases where credit is less than excellent or when there is
little or no equity in the home but even

HARP 2.0 applications to officially begin December 1st

Beginning on Thursday December 1, 2011 applications for the
HARP 2.0 program can technically be started. We say technically
because as of now no authorized lender has implemented the program.
As we have discussed in the past, the HARP 2.0 program only applies
to loans that are currently backed (invested in) by Fannie Mae
or

After rising through most of October mortgage interest rates improve to start November

After hitting record lows at the end of September mortgage
interest rates climbed slowly but steadily through most of the
month of October. Rates increased in October in large part due to
the news that Europe had worked out a temporary fix to their debt
problems. But as October came to a close the European

Higher FHA loan limits reinstated

In 2008 the loan limits on FHA mortgages were increased to
allow more borrowers across the country qualify for FHA loans. On
October 1st of this year those loan limit increases expired and
reverted back to their original levels. After several weeks of
debates in congress a bill reinstating those higher loan limits
through the

HARP 2.0 guidelines

Here are the links to the HARP 2.0 guidelines just releases
minutes ago.
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2011/sel1112.pdf
http://www.freddiemac.com/sell/guide/bulletins/pdf/bll1122.pdf In
short, here are the changes these guidelines describe: - Starting
December 1, 2011 authorized lenders may begin the loan application
process for borrowers who have Fannie/Freddie mortgages with a
current loan to value greater than 125%. HOWEVER those HARP

On starting the refinance process in December

With interest rates near record lows and new
government-backed refinance programs being announced many Americans
have considered looking in to a refinance. If you are among those
people thinking about looking into a refinance, getting started in
December has some practical advantages. The most important of these
advantages is quite simple: shorter lines. Because of

Mortgage interest rates continue to hover near record lows

The wave of bad economic news from Europe has served to help
keep mortgage interest rates near record lows here in the US. As
worldwide investors seek safe havens for their money the yield on
the 10 year treasury note has remained low which in turn is keeping
mortgage interest rates stunningly low by historic