Getting a mortgage after foreclosure

There are some additional hurdles for homeowners who have gone through a foreclosure, short sale or bankruptcy, but a little patience and some financial hard work will go a long way. Buying a home is a challenging goal for most hopeful homeowners. But for those who have experienced a bankruptcy, foreclosure or short sale, the …

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New loan limit would hurt home sales

Unless Congress takes action, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly, especially in high-cost areas such as California. Making sense of the story More than 30,000 California families could face higher down payments, higher mortgage rates, and stricter loan qualification requirements if conforming loan …

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California expands ‘Hardest Hit’ eligibility for distressed homeowners

California has expanded the pool of borrowers who could qualify for three programs aimed at helping families at risk of losing their homes, by making those who tapped their home equity or who took out loans after Jan. 1, 2009, eligible for assistance. The California Housing Finance Agency (CalHFA) is administering nearly $2 billion in …

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Mortgages are confusing!

A new survey shows that Americans’ confusion over mortgage applications has become one of the most challenging aspects of buying a home today. Nearly one-third of respondents said that understanding the mortgage process was the most difficult step in buying a home, according to the survey conducted by MortgageMatch.com, a unit of Move Inc.  That was higher than …

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