FHFA extends moratorium on foreclosures and evictions

The moratorium on foreclosures and evictions for Fannie Mae and Freddie Mac-sponsored mortgages has been extended until at least June 30, according to the Federal Housing Finance Agency. The FHFA said the moratorium, originally set to expire May 17, has been extended as the U.S. continues to suffer from the economic consequences of the COVID-19 […]

Fannie Mae & Freddie Mac to allow post-forbearance payments

Mortgage servicers Fannie Mae and Freddie Mac have said in a joint announcement that homeowners in forbearance will be able to request deferrals on their payments, and add any missed payments onto the end of their loan term without any penalty or additional interest. Forbearance simply gives homeowners who’re struggling to pay their mortgages a […]

Ways to Pay Off Your Mortgage Faster

There are several ways you can pay your mortgage off faster and save thousands if not tens of thousands of dollars in interest payments. None of these methods requires that you pay a third party to do it for you. It’s simple to do it yourself without the cost of paying someone or risk being […]

6 Crazy Good Reasons to Refinance a Mortgage

How and Why You Should Refinance Your Mortgage? Have you ever wondered what the reasons why so many people refinance their mortgage? Maybe you have heard friends and relatives discussing it and weren’t exactly sure? There are a few excellent reasons to get a new mortgage. Refinancing can reduce your monthly payments through lower interest […]

Federal Reserve says it won’t raise key interest rate

The Federal Reserve this week voted to maintain its benchmark interest rate unchanged at near zero, showing it has no interest in reversing course anytime soon, most likely due to the coronavirus pandemic. The Fed’s benchmark rate doesn’t directly impact mortgage rates, but it normally does influence them, so the decision is a key one […]

Experts warn against blindly accepting mortgage forbearance

Left unable to work due to the coronavirus pandemic, around 2 million American homeowners have sought to apply for mortgage forbearance from their providers. But experts warn that they should look closely at the terms they’re offering, or they could be in for a nasty shock in the months to come. The problem is that […]

Common Mortgage Myths Debunked

What Are The Most Common Mortgage Myths? Entering the realm of homeownership is likely to expose you to some of the common mortgage myths. When you tell someone that you are looking to get a mortgage, they may be keen to offer you advice. However, you could find that some of the things they tell […]

FHA borrowers to get more mortgage relief options

A wider set of tailored relief options are to be offered to people with Federal Housing Administration-insured mortgages who’re unable to make their payments due to the COVID-19 pandemic, the Department of Housing and Urban Development said last week. Under the new measures, mortgage servicers can extend deferred or reduced payment options to FHA borrowers […]

Fannie & Freddie’s new mortgage payment deferral plan

Fannie Mae and Freddie Mac have announced a new payment deferral option for homeowners who’re struggling to meet their mortgage repayments. The new option is available regardless of if homeowners are struggling to pay due to the coronavirus outbreak, HousingWire reported. The new option would enable homeowners to defer payments for up to two months, […]

Fannie Mae & Freddie Mac ease mortgage requirements

Fannie Mae and Freddie Mac have been told by the Federal Housing Finance Agency to come up with alternatives to appraisal requirements and employment verification on loans they service through May 17, in response to the COVID-19 shutdown. “To allow for homes to be bought, sold, and refinanced as our nation deals with the challenges […]