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Government Loan Modification Made Easy – Record Low Mortgage Rates!

admin — Fri, 20 Mar 2009 22:13:14 +0000

Big news was released earlier this week as once again the government has executed a plan to help reduce mortgage rates as well as people seeking loan modification. On Wednesday, The Fed met for their monthly FOMC meeting to discuss economic conditions and the future of the discount rate. The Fed announced that they will indeed be keeping the current discount rate at a range of 0-.25%, which was expected, but they continued to announce their new plan, which resulted in a huge upswing in trading, especially for banks.

The Fed plans to spend an additional $750 billion in purchasing mortgage backed securities from housing agencies such as Fannie Mae and Freddie Mac. In addition to that, The Fed will also be spending $300 billion on the purchasing of US Government bonds.

The announcement on Wednesday sent stocks flying and Treasury interest rates crashing. In turn, the lowering of Treasury rates should lead to a significant reduction in mortgage rates. This is great news for anyone seeking to modify their loan or refinance their mortgage. Rates are being quoted in the 4% range, which has not been seen in years. Due to increasing inflation concerns, these rates will most likely not stay long. If you have interest in loan modification or refinance, start now and CLICK HERE TO BEGIN THE LOAN MODIFICATION OR REFINANCE PROCESS.

The Fed To Meet Wednesday To Discuss Possible Trillion Dollar Bailout

admin — Tue, 17 Mar 2009 23:58:40 +0000

On Wednesday, March 18th, The Federal Reserve will meet for their FOMC meeting to discuss updates with the economy, the discount rate, and other economic variables. It is expected that The Fed will leave the discount rate at its current level, which is a range between 0-.25%. This means that, most likely, interest rates for homes will remain low, especially those that have good credit.

With the recent news of bank’s balance sheets shrinking 17%, The Fed has taken initiative to help inject liquidity into the credit markets. The Fed is considering a bailout structure in the amount of $600 billion, which would involve buying up bonds that are issued by US housing agencies, such as Fannie Mae and Freddie Mac. Other measures which are being discussed, are the possibilities of buying up US Treasuries and Corporate bonds to help bring stability to the equity markets. With the addition of these measures, the plan could amount to over a trillion dollars.

The Federal Reserve plans to make an announcement on Wednesday at 2:15pm Eastern to discuss the results of their meeting. Indeed such an announcement could have a huge impact on loan modification and mortgage refinance. With more help coming to housing agencies, it creates more incentive for lending institutions to work with your loan. We are still in the best of times to discuss ways to modify your loan, as banks are working more and more with their customers. Start now and CLICK HERE TO BEGIN THE PROCESS OF MODIFYING YOUR LOAN!

Banks To Endure Government “Stress Tests” – How Safe Is Your Mortgage?

admin — Tue, 03 Mar 2009 18:12:19 +0000

The government is requiring major US banks who are eligible for TARP funds to participate in frequent “stress tests” to show how stale the financial institution is in case of severe economic turmoil The tests will entail many scenarios of which is foreseeable in the near future if the economy continues on the trail it’s on, and show how well the bank will be able to perform in such an environment. Some aspects of the test include a scenario if:

Unemployment were to rise to 10.3%

Housing prices drop another 22%

Overall economic growth drops to -3.3%

The result of these tests will show how banks will respond to such conditions and, most importantly, what will be the outcome of the bank’s balance sheet. Hopefully, by doing so, the government will have a better understanding of how much more money banks will really need to get through the tougher times. It will also help in the transparency of these institutions to hopefully bring back some confidence in the financial sector.

It is important to know of the security of your lending institution and the security of your mortgage. We are in tumultuous times and by trying to foresee problems that lie ahead can put you in a strong advantage when dealing with your mortgage. Loan modification could be in your near future and it is in your best interest to know as much about the options you have in front of you with dealing with your loan. Talk to a loan modification or refinance specialist today!