The Rich are More Likely to Default on Mortgages

Recent research shows that 1 in 7 American with home loans of more than $1,000,000 have missed 3 consecutive mortgage payments. According to marketplace.org only 1 in 12 of home owners with loans less than $1,000,000 are in seriously deliquent. Large mortgages, called Jumbo loans, often carry a higher interest rate than a conventional loan. […]

Contact Alison

513-518-1140

New Home Affordable Foreclosure Alternatives Program Rules Impact Cincinnati Real Estate Market

The Federal Government has recently implemented another program designed to assist home owners in financial trouble. The government has already rolled out the Making Homes Affordable Modification Program (HAMP) designed to help homeowners modify their mortgages. The new Home Affordable Foreclosure Alternatives Program (HAFA) goes one step further. In the case where someone has already […]

Contact Alison

513-518-1140

Home Loan Modifications Impact Credit Scores in the Cincinnati Real Estate Market

The Making Homes Affordable program is designed to help individuals restructure their mortgages with their lenders. In lowering the monthly payments through renegotiating the terms of the loan, more people are able to avoid short sale and foreclosure situations. One unforeseen consequence is that the homeowners benefiting from the program may also be taking a […]

Contact Alison

513-518-1140

Federal Government Exerts Pressure on Lenders to Modify Mortgages

The Federal Government is looking to increase pressure on many mortgage lenders and banks to follow through with the loan modification that began under the ‘Making Homes Affordable Program‘. In the program borrowers renegotiate their┬ámonthly payments to a lower level for a trial period. If they can successfully pay that lower amount the bank should […]

Contact Alison

513-518-1140

Making Home Affordable Program

Cincinnati homeowners and homeowners around the U.S. need to be aware of the following information if they are looking to refinance and are having difficulty getting approved. There are options for refinance and loan modifications mandated by the federal government. The Making Home Affordable Program was created to assist homeowners whose home values have declined […]

Contact Alison

513-518-1140