Needed: Fourteen Epic Upgrades to HARP in 2014
Editor’s Note: The HARP program expired Dec. 31, 2018, but most homes have increased in value considerably since HARP rolled out. This means many homeowners may currently be…
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Tim Lucas
Tim Lucas (NMLS #118763) was an editor of MyMortgageInsider.com. He has appeared on Time.com, Realtor.com, Scotsman Guide, and more.
Articles by Tim Lucas
FHA Lowers Lending Limits, the Typical Borrower is Unfazed
The Department of Housing and Urban Development (HUD) made an official announcement that effective January 1, 2014, Federal Housing Administration (FHA) would be lowering lending limits for single-family…
It Now Takes 24% Less Time to Close Your Loan, Saving You Money
The news is full of reports of rising interest rates and lower loan volume at lenders. But these factors have contributed to a 24% drop in the time…
Fed Taper: Cuts to Interest Rate Reducing Program Coming
The Federal Reserve announced today that it will begin the long-awaited slow withdrawal from its mortgage rate reduction program in January 2013. The program, called Quantitative Easing, or…
Bitcoin Mansion: Why this Man is Selling a $7.85M Las Vegas Mansion for Bitcoin
Former casino mogul Jack Sommer is selling his mansion in Las Vegas for $7.85 million or the equivalent in bitcoin. Bitcoin, a virtual currency that was invented in…
Mel Watt is New Head of Fannie Mae & Freddie Mac, Bettering Chances of HARP 3.0
In a 57 to 41 vote, Mel Watt was confirmed to replace Ed DeMarco as the new head of the Federal Housing Finance Agency, or FHFA. The confirmation…
Big Step toward HARP 3.0 Possible by End of Year
We could see a big HARP 2.0 change that puts homeowners closer to HARP 3.0 by the end of 2013. The possible confirmation of Mel Watt (D., N.C.)…
New Home Sales up a Staggering 25%
The U.S. Census Bureau and the Department of Housing and Urban Development (HUD) released a joint report on Wednesday showing a 25.4% increase in sales of new homes…
Conventional 97 to Require 5% Down Payment
Update for December 2014: Fannie Mae and Freddie Mac have reinstated the 3% down conventional home loan as of December 2014. For details on the 97% LTV home…
“Merkley Mortgage” – A HARP 3.0 Prototype
Editor’s Note: The HARP program expired Dec. 31, 2018, but most homes have increased in value considerably since HARP rolled out. This means many homeowners may currently be…