We Can Save Your Dream

We are an attorney backed organization designed to help you bring your mortgage payments up-to-date. Using proven tried and true methods, we stop the foreclosure process and work out an affordable payment plan for you.

Main Menu

Mortgage News Daily

How Did The Employment Report Affect Mortgage Rates?

Posted To: Mortgage Rate Watch
It is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report. This release provides four headline measures on the health of the jobs sector. Nonfarm Payrolls: totals the number of jobs that were added to or cut from employer payrolls in the prior month. Consensus Forecast: -100,000 vs. -131,000 in July (Private payrolls increased 71,000 in July and +41,000 expected today) Unemployment Rate: the percentage of working-age, mentally able-Americans who are jobless. Consensus Forecast: 9.6% of the labor force vs. 9.5% last month Average Hourly Earnings: the average amount of earnings per hour of labor performed. Consensus Forecast: +0.1% vs. +0.2% last month. Average Work Week: average amount of hours worked by an employee...(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
All Signs Point to Higher Rates in Week Ahead

Posted To: MBS Commentary
NFP has come and gone, let's see where things stand.... The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mortgage rates hit new lows on Wednesday has broken down and FNCL 4.0s have made their way back into the range that moderated price action for the majority of August. The falling knife found support and bounced higher directly in the middle of that range. 10s flagged lower for the entire month of August (all summer really) and are now flagging higher. The 2.625% coupon bearing 10 year TSY note is off its session price lows (98-24) at 99-07 yielding 2.715% (+8.8bps). 10s are the worst spot on the curve followed by 7s (+8.6bps) and the long bond (+7.6bps). Volume was heavy into...(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
FHFA Establishes New Housing Goals for GSEs

Posted To: MND NewsWire
The Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recovery Act of 2008 (HERA) to set such goals for targeted segments of the mortgage market The new rules establish three goals for single-family, owner-occupied home purchases; one for low-income families, another for very low-income families, and a third for families living in geographical areas with lower-income populations, areas with high concentrations of minority residents, or federal declared disaster areas. The goal for disaster areas contains a sub-goal to ensure that the needs of lower-income and minority areas are addressed. A goal has also been established for...(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.

NYTimes Real Estate News

Stop Foreclosure now!

Apply Online Today!

If you are new to the website and would like more information, please click here.

If you are on the phone with a representative and were instructed to fill out the long application, please click here.

Our Goal is Solely to Assist Homeowners

A s professionals who understand the mortgage industry from years of experience, we know how to help you. Put our expertise into action and you could become another one of our countless satisfied clients. Let our caring staff help you!
Read more...

There Is Help

Although we encourage you to work with your lender if you are a payment or two behind, the reality is that homeowners who have tried to negotiate on their own, with their mortgage company have usually come up with something worse than what they started with. According to HUD, a Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford.Mortgage Bankers are used to speaking with homeowners who know very little about their loan.

Also, these homeowners are generally taken advantage of for that very reason. In addition to negatively impacting the negotiation, homeowners also struggle making contact with a useful party at their mortgage company.