Mortgages: New Snags for the Self-Employed

  By LISA PREVOST – Borrowers who are self-employed may have a tougher time obtaining a mortgage under new federal regulations requiring lenders to verify applicants’€™ ability to repay. Effective this month, the rules, created by the Consumer Financial Protection Bureau as part of the Dodd-Frank lending reforms, set up standards for “€œqualified mortgages,”€ or mortgages…

Top 10 Home Staging Tips

With all the competition in today’s marketplace, professionally staging your home has never been more important. Here are some top tips from Sure Fit on how to beat your competition and allure the attention of buyers. 1. Consider curb appeal You may not have the funds for a professional landscaper, but homeowners should make sure…

Mortgage Rates Stay Largely Unchanged

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates little changed amid a week of light economic reports. The 30-year fixed-rate mortgage (FRM) averaged 4.51 percent with an average 0.7 point for the week ending January 9, 2014, down from last week when it averaged 4.53…

HUD Awards Millions to Promote Family Self-Sufficiency

The U.S. Department of Housing and Urban Development (HUD) recently awarded nearly $57 million in grants to help residents receiving housing assistance through the Housing Choice Voucher Program to gain access to education, job training and employment. HUD’s Housing Choice Voucher Family Self-Sufficiency Program (HCV-FSS) helps public housing authorities across the country to hire or…

Mortgage Applications Edge Up in Latest Week

  By Luciana Lopez – NEW YORK — Applications for U.S. home mortgages edged higher in the latest week, rebounding from a 13-year low set at the end of last year, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase…

Real Estate Industry Wary ahead of New Mortgage Rules

(MCT)—Real estate officials are bracing for new federal mortgage rules intended to press lenders to ensure that prospective borrowers are able to repay home loans. Starting Jan. 10, lenders will be required to scrutinize eight types of financial information about a borrower, including income and debts. The so-called ability-to-repay and qualified-mortgage requirements stem from the…