Homebuyers in today's market are sometimes stumped when they see the potential in a home for sale but do not have the funds available for a down payment, closing costs and remodeling expenses. Homeowners sometimes find themselves in a similar bind: Home equity loans are difficult to obtain, so owners need to find other ways to fund home repairs and improvements.
A report Wednesday that new home sales plummeted to a record low after the federal housing tax credit expired added to worries that the broader economy could relapse after a spurt of growth in the last year.
ASSOCIATED PRESS
Profits from government-sponsored mortgage giants Fannie Mae and Freddie Mac - not taxpayers - would back up a home loan rescues for struggling borrowers under a plan approved by a key Senate committee yesterday.
House Democrats bring to the floor today a plan to stanch the home foreclosure crisis with measures that include government-backed mortgage refinancing and money for states to buy derelict homes, but Republicans say the $2.7 billion bill is nothing more than a "bailout scheme."
I want to describe a refinance my company recently made for a customer in South Carolina.
PRESIDENT BUSH
PRESIDENT BUSH
June was proclaimed National Homeownership Month by President Bush to recognize the importance of owning a home and to urge citizens to consider homeownership.
