After the money taken by Citigroup from the TARP funds, the government decided today that we will increase our stake to 36% from 8% in the company without putting anymore cash into it.
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The Gross domestic product numbers were released today and the numbers fell further than expected for the fourth quarter of last year.
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According to Freddie Mac’s Primary Mortgage Market Survey that was released today, interest rates on a 30-year fixed-rate mortgage averaged about 5.07% with an average cost of .7 point this week.
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Both Fannie Mae and Freddie Mac have sent 90,000 letters to borrowers who have missed at least three payments, which offered for them to participate in a streamlined loan modification plan that was announced in November.
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President Barack Obama plans to announce details of a financial stability program and measures to revive the U.S. economy at a joint session of Congress tonight around 9 p.m. Eastern time.
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President Barack Obama announced last week a new $75 billion housing bill that will bail out some of the people that are suffering the most from the housing crisis.
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Florida Attorney General Bill McCollum announced yesterday that his office obtained a court order temporarily prohibiting a Orlando loan modification company from charging up-front fees for loan modifications.
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Bank of America announced today that they would be extending their moratorium on foreclosures until the details of President Obama’s Homeowner Affordability and Stability Plan have been released.
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With all of the changes we have seen from Congress with the economic stimulus package what should you be expecting now that it’s on the way to President Obama for his signature?
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According to research released by the Mortgage Bankers Association yesterday mortgage applications fell 25% last week.
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