According to the Washington Post, mortgage rates were above 3 percent but only for a week before they slid back below that level. Questions: What is the 30-year fixed average percentage on a 30-year mortgage? What are points on a mortgage? What is Freddie Mac? How many lenders across the country are aggregated to come… Read more »
Posts Tagged: mortgages
New Mortgage Rules for Those with Student Debt
New rules could make it tougher to qualify for a low down payment mortgage from the Federal Housing Administration, particularly with respect to down payment gifts and deferments associated with student loans. Questions: 1. What is the role of debt-to-income ratios in this story, as they related to student loans? 2. What is the old… Read more »
The Clock is Ticking!
A new legal quirk could bring a surreal ending to foreclosure casess around the country; the debtors may get to keep their homes without ever having to pay another dime. Questions: 1. Why might tens of thousands of homeowners who have missed more than five years of mortgage payments get to keep their homes without… Read more »
Ninety-four percent of students who earn a bachelor’s degree borrow to pay for higher education. This is up from the 1993 statistics that show only 45 percent of students borrowed money to pay for a bachelor’s degree. This borrowing includes loans from the federal government, private lenders and relatives. Questions: 1. Explain why Rajeev V…. Read more »