Iowa property owners are estimated to receive approximately $40 million from a large mortgage settlement involving 5 banks and negotiated by 49 states attorneys and the federal government. Specifically, Iowa’s share of this settlement breaks down like this: Iowa borrowers will receive an estimated $5,899,449 in benefits from loan term changes Iowa borrowers who lost their home [...]
The U.S. House and Senate have been at odds recently on whether a payroll tax cut and unemployment benefits should be extended and how to best pay for the associated costs. So how does this impact housing and property ownership? The Senate has devised a bill that extends the payroll tax cut and some unemployment [...]
Down payment assistance of up to $3,500 is now available for a limited time to eligible home buyers who purchase their homes using the Iowa Finance Authority’s FirstHome and FirstHome Plus program through the end of the year, an increase of $1,000 above the normal amount of $2,500. The Iowa Finance Authority is a self-supporting [...]
As the U.S. recovers from the effects of the finanicial crisis, regulators have been charged with determining what went wrong and how best to fix the issues to prevent problems in the future. One of the solutions proposed by regulators is to require home buyers to make a minimum of 20% down payment when purchasing [...]
A reverse mortgage is a program that allows older homeowners to tap into the accumulated value (equity) of a home. However, unlike a traditional mortgage where the balance owed is reduced with each monthly payment, with a reverse mortgage a lump sum or monthly payment is paid to the homeowner, and the balance owed actually [...]
Home owners whose mortgage payments are unaffordable and who are interested in transitioning to more affordable housing may be eligible for a short sale or deed-in-lieu of foreclosure through the Home Affordable Foreclosure Alternatives (HAFA) Program. HAFA is offered through MakingHomeAffordable.gov, a program of the Departments of the Treasury & Housing and Urban Development. A [...]
The qualified residential mortgage (QRM) proposed rule is currently being debated in the U.S. Congress. If passed, the rule will require a minimum of 20 percent down on all residential home sale transactions. Although people may be able to put slightly less down then 20 percent, they will have to pay a huge premium for [...]
Contact: Darin Leach, Public Information Coordinator Phone: (515) 284-4747 (office); (515) 669-5691 (cell) FOR IMMEDIATE RELEASE E-mail: Darin.Leach@ia.usda.gov USDA Rural Development Invites Applications for Renewable Energy and Energy Efficiency Projects Agricultural Producers in Non-Rural Areas Are Now Eligible Funding May Be Used for Flex-Fuel Pumps DES MOINES, Iowa – April 15, 2011 – Agriculture [...]
The Virginia Property Owners Alliance has a great article with tips for homeowners who are unable to make mortgage payments and therefore concerned about foreclosure. Read the article here: http://www.vahomeownersalliance.com/pages/how-work-your-loan-servicer-prevent-foreclosure For Iowa-specific mortgage help resources, please visit http://www.iowamortgagehelp.com/
The Obama administration recently released three proposals that outline possible solutions to the problems facing the U.S. home mortgage industry. Illustrating one issue in the industry, CNN reports that today government-sponsored entities like Fannie Mae, Freddie Mac, and the Federal Housing Authority now account for more than 90% of mortgage originations – up from 36% [...]
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