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IMPORTANT: Bing News RSS feed has moved!CHICAGO (MarketWatch) — Coming up with a down payment is often a first-time home buyer’s biggest challenge. That’s why many of them get a little help from relatives or friends. In 2010, 27% of first-time buyers received a gift from a ... Read moreDon’t let down-payment gifts delay mortgage loanThe City watchdog the Financial Services Authority has been looking at the mortgage market for the past two years. After a series of consultations it has published a report outlining how it wants to change the way lenders and mortgage brokers operate. Read moreQ&A: FSA's proposals to reform the UK mortgage marketIts Mortgage Market Review said loans should only be advanced where there is a reasonable expectation the customer can repay the loan without relying on "uncertain" future house price rises. Income will have to be verified in every application and lenders ... Read moreFSA unveils shake-up of mortgage marketYou do not say what the mortgage loan period is or what your age is, but by extending the length of your mortgage loan period over more of your expected working life, your actual mortgage payment may be lower, she said. Based on the numbers you ... Read moreBiz Brain: Low-income but still seeking a loanThe other key advantage for a term five years or longer is you get to use the rate on your contract to qualify for a mortgage as opposed to the current five-year posted rate of 5.39%. The difference means you'll qualify for a larger loan by locking in. Read moreVariable-rate loan no longer rulesThe rate on the 30-year home loan fell from 3.99 percent the previous week, Freddie Mac said Thursday. This week's 3.94 percent average matches the lowest on records dating to the 1950s. The average on the 15-year fixed mortgage fell to 3.21 ... Read more30-year loan rate ties record lowRandy Johnson, president of Independence Mortgage Co. in Newport Beach ... It has climbed quickly in the last few months to 0.63 percent. I have a loan tied to this rate and worry that it will continue to climb. Also, why are banks making ... Read moreGot LIBOR loan? Maybe it’s time for a fixed loanDec. 8 (Bloomberg) -- Bank of America Corp., the largest mortgage servicer, said lenders will meet with the overseer of Fannie Mae and Freddie Mac to discuss last month’s revamp of the federal Home Affordable Refinance Program, which ... Read moreBofA Says Obama Refinancing-Plan Details Trouble Home LendersWASHINGTON (Reuters) - Shirley Burnell, a community activist from Oakland, California, has been trying to get her subprime loan restructured since 2007. She never missed a payment, but the adjustable rate mortgage she got in 2004 shot up to a ... Read moreFor additional information, please see:
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