Category Archives: Loans
Should Chicago Homebuyers Opt For New Adjustable Rate Mortgages?
Remember last decade’s adjustable-rate mortgages? You know, the subprime loans that led to millions of mortgage defaults across the country – and pretty much launched the whole recession? Well, they’re back. But this time around, lenders say they’re different – and depending on your financial situation, they may be able to help you afford a… Read More »
Atlanta Borrowers Taking Out Adjustable Rate Mortgages Again
Have adjustable-rate mortgages gotten a makeover? Lenders say the ARMs that once contributed to the housing market crash may now be an affordable option for Atlanta home buyers. Back in the 90s, adjustable-rate mortgages made up the large majority of home loans. The problem was, many of these loans came with risky perks intended to… Read More »
Is Loan Modification Or Bankruptcy A Better Choice for Atlanta Homeowners?
The good news is that a new FHA program could help underwater borrowers make their mortgages more affordable. The bad news? For many homeowners, it’s too good to be true, say Atlanta bankruptcy attorneys. Known as the Short Refi initiative, the program allows lenders and investors to agree on writing off a portion of a… Read More »
How Bankruptcy Can Pick Up Where New Loan Modification Program Leaves Off
There’s a new plan to help restructure the mortgages of underwater borrowers. The only catch? It won’t work for everyone, say Chicago bankruptcy attorneys. So far, more than 20 lenders have jumped on board the FHA-backed Short Refi program, which aims to help homeowners by getting lenders to write off 10 percent or more of… Read More »
Chicago Borrowers To Pay Higher Premiums For FHA Loans
Thinking about getting a little help from Uncle Sam for that mortgage or refinance? It might cost more than you think, say Chicago bankruptcy attorneys. This month the Federal Housing Administration announced it will raise premiums for its popular government loans by a quarter of a percentage point. It’s a tiny increase, for sure, but… Read More »