Showing 4 ideas for tag "mortgage"
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Department of Housing and Urban Development

Change the title of HUD's Partial Claim Mortgage

HUD's Partial Claim program is designed to give extra fiscal life to homeowners in fear of foreclosure. When HUD extends funds to cover the delinquency of the senior mortgage, it has a mortgage recorded as security. However, the title of the Partial Claim mortgage is "Subordinate Mortgage". Unfortunately, many of the county clerks recording the mortgages miss interpret "Subordinate" as "subordination", and as a result... more »

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Department of Agriculture

Charge a funding fee for 502 Direct loans

I would like to suggest charging a funding fee to help offset the cost or even make the program self sufficient. The argument against this is that this is for very low and low income, but if the fee is financed in above the LTV like with VA, FHA, and Guranteed RH loans, it would not affect the borrower's payment by much…it would raise their payments less than $10 if it was a 1-2% fee for most loans. There is talk of defunding... more »

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Department of the Treasury

Stop Fannie Mae/Freddie Mac from forcing banks to make bad loans

Much of our current poor economy is from the ill-advised practice of Fannie Mae and Freddie Mac forcing banks to make loans to people that are unlikely to be able to repay the mortgage. You think we'd learn from experience. But, there they are again doing the same thing that got our country and the world in trouble in the first place! Once was too much! Doing it again is stupidity personified! Talk about jeopardizing... more »

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Department of Agriculture

Make the banks lower all interest rates to below 3.5% -(2% good)

Banks are just greedy, just like the rest of the America. Who in the Heck can really afford to pay a loan back at 5% + interest for 30 years, making minimum wage or even $25.00 an hour for a crummy house that costs $200,000 or more? Why are we forced to pay almost $400,000 for a two hundred thousand dollar house that we need to turn around and put another $90,000 worth of improvements into? With the costs of groceries,... more »

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