Second Home Mortgage

Second Home Mortgage

A Second Home Mortgage is a mortgage taken out on a second home when the borrower has a current mortgage on their existing home. These second home mortgages could be for a vacation home, second home or for rental property. Lenders are stricter on borrowers applying for a second home mortgage as their finances are [...]

Florida existing homes sales up 23 percent

August 13, 2009 Mortgage Financing

Florida’s housing market has experienced four straight quarters of sales growth for existing single-family homes, a positive sign that the market could be turning the corner toward recovery, according to the Florida Association of Realtors (FAR).
Sales of existing single-family homes in Florida rose 23 percent in second quarter 2009 compared to the same period a [...]

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Housing prices likely to decline in 2010, says reports

December 21, 2009 Mortgage Financing

The U.S. housing market may be facing a best case scenario of stabilization and a significant chance of further declines in 2010, according to new research released by Credit Suisse last week.
After a first quarter of 2010 that the report predicted would build on figures from the end of 2009, the second quarter of 2010 [...]

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Mortgage rates decline as March gets underway, according to Freddie Mac

March 5, 2010 Mortgage Financing

The average interest rates for most types of mortgages enjoyed steady declines during the first week of March, according to a report released Thursday by Freddie Mac.
According to the latest Primary Mortgage Market Survey for the week ending March 4, the average interest rate for 30-year fixed-rate mortgages declined by 0.08 percentage points to hit [...]

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Mortgage rates have mixed week to begin February, says Zillow

February 16, 2010 Mortgage Financing

Interest rates for most mortgage types offset the prior week’s figures and declined in the first full week of February as the volume of mortgage applications declined once again, according to the Zillow Mortgage Rate Monitor.
The online real estate website reported that the average rate for 30-year fixed-rate mortgages declined by 0.06 percentage points to [...]

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Home prices continued to decline in final months of 2009

February 23, 2010 Mortgage Financing

While the housing market continued to show gradual signs of a recovery as 2009 came to an end, prices fell in the year’s final quarter, according to the latest S&P/Case-Shiller U.S. National Home Price Index.
While lukewarm news for those involved with the housing market, the continued price drops were likely well received by those looking [...]

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FHA mortgage lender launches ad campaign to educate borrowers

May 18, 2009 FHA Mortgages

Lend America, a direct-to-consumer Federal Housing Administration (FHA) lender, said today it is launching a new national advertising campaign to educate struggling homeowners facing foreclosure on the U.S. Government’s HOPE For Homeowners (H4H) foreclosure prevention program.
The new ad campaign – Relief Comes in the Form of Hope – premiered in the national print edition [...]

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