High Risk Mortgage Lending Still Being Promoted By GSEs

Sufficient Income Key To Sound Home Ownership In an effort to prevent delinquent home owners from losing their homes to foreclosure, the Department of the Treasury recently issued guidelines to lenders. Under the Making Home Affordable mortgage modification program, the Treasury stated that the mortgage loans for at risk home owners should be modified to result in a front end debt ratio of 31%. A front end debt ratio is the percentage of gross monthly income that is spent on housing costs,

Renting Versus Owning Costs

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).] July 01, 2009 : The big debate these days is whether home ownership is still everything it's cracked up to be. Yes, we still get a tax deduction on the amount of interest we pay, but the building of equity is no longer a given with a home mortgage. There are many areas around the United States with falling home prices, causing some people to be upside-down on their loans and leaving them unable to

Guide to Rent to Own Homes

by Brian Luyuna Rent to own homes are a great way for people to give home ownership a shot without actually having to get a loan. More and more people are giving this option a try considering loans are harder and harder to get and people are having reserves about buying a home. The way rent to own homes works is the seller will act like a lender to the buyer. The seller and the buyer agree on a final purchase price of the home. The buyer makes a down payment on the house, and makes monthl