» HUD.gov http://www.mtgebroker.com Tue, 01 Jun 2010 05:56:10 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Home Improvements http://www.mtgebroker.com/home-improvements http://www.mtgebroker.com/home-improvements#comments Mon, 19 Oct 2009 14:21:45 +0000 24Seven http://www.mtgebroker.com/?p=345 Whether you want to fix a faucet or add a new addition to your home, you need to know the facts and the pitfalls of home improvements. Here are some sources that can help. (Source HUD.gov)

Federal Loan Programs

  • About HUD’s rehabilitation and repair home loan
    • Program description
  • Q&As about HUD’s rehabilitation and repair loan
  • HUD’s property improvement loan
  • Fixing up your home and how to finance it
  • HUD-approved lenders
  • Home Improvement Loans for Native Americans
  • Rural home improvement and repair loans/grants

Community-based Programs

  • HOME program
    • Contact a HOME representative in your community
  • Community Development Block Grant Program
    • Contact a CDBG representative in your area

Consumer Information

  • Household Energy Efficiency – Home Energy Briefs
  • Protect yourself: deceptive home improvement contractors
  • Home energy saver
  • Home Repairs by Readers Digest
]]> http://www.mtgebroker.com/home-improvements/feed 0 Fair Lending and Predatory Lending Laws http://www.mtgebroker.com/fair-lending-and-predatory-lending-laws http://www.mtgebroker.com/fair-lending-and-predatory-lending-laws#comments Mon, 19 Oct 2009 14:13:02 +0000 24Seven http://www.mtgebroker.com/?p=343 Discrimination in mortgage lending is prohibited by the federal Fair Housing Act and HUD’s Office of Fair Housing and Equal Opportunity actively enforces those provisions of the law. The Fair Housing Act makes it unlawful to engage in the following practices based on race, color, national origin, religion, sex, familial status or handicap (disability): (Source: HUD.gov)

  • Refuse to make a mortgage loan
  • Refuse to provide information regarding loans
  • Impose different terms or conditions on a loan, such as different interest rates, points, or fees
  • Discriminate in appraising property
  • Refuse to purchase a loan or set different terms or conditions for purchasing a loan

Filing a Complaint

If you have experienced any one of the above actions, you may be the victim of discrimination. Recognizing the signs of lending discrimination is the first step in filing a complaint. HUD investigates your complaints at no cost to you. If you believe you have experienced lending discrimination, visit our housing discrimination complaint website to learn more about the complaint process.

HUD Fair Lending Studies

Pre-application inquiries about mortgage lending financing options represent a critical phase in the homebuying process. If potential homebuyers cannot obtain full and fair access to information about mortgage financing, they may give up on their pursuit of homeownership, their housing search may be restricted, or they may be unable to negotiate the most favorable loan terms. HUD has conducted a number of studies to determine whether minority homebuyers receive the same treatment and information as whites during the mortgage lending process. Read more on mortgage lending discrimination studies .

Subprime Lending

Subprime loans play a significant role in today’s mortgage lending market, making homeownership possible for many families who have blemished credit histories or who otherwise fail to qualify for prime, conventional loans. A recent HUD analysis, based on HMDA and related data, shows that the number of home purchase subprime applications increased from 327,644 in 1997 to 783,921 in 2000.

While the subprime mortgage market serves a legitimate role, these loans tend to cost more and sometimes have less advantageous terms than prime market loans. Additionally, subprime lenders are largely unregulated by the federal government. Data shows blacks are much more likely than whites to get a subprime loan, and many of the borrowers who take out these loans could qualify for loans with better rates and terms. As such, many have expressed fair lending concerns about the subprime market. Read more on Subprime Lending .

Predatory Lending

Some lenders, often referred to as predatory lenders, saddle borrowers with loans that come with outrageous terms and conditions, often through deception. Elderly women and minorities frequently report that they have been targeted, or preyed upon, by these lenders. The typical predatory loan is: (1) in excess of those available to similarly situated borrowers from other lenders elsewhere in the lending market, (2) not justified by the creditworthiness of the borrower or the risk of loss, and (3) secured by the borrower’s home. HUD is working hard to fight against predatory lending .

Minority Homeownership

HUD is committed to increasing homeownership opportunities for all Americans. HUD is engaged in a special effort to boost the minority homeownership rate since the rate for black and Hispanic Americans lags behind that of others. Read more about HUD’s efforts to Increase Minority Homeownership

]]> http://www.mtgebroker.com/fair-lending-and-predatory-lending-laws/feed 0 How To Avoid A Foreclosure http://www.mtgebroker.com/how-to-avoid-a-foreclosure http://www.mtgebroker.com/how-to-avoid-a-foreclosure#comments Mon, 19 Oct 2009 14:00:50 +0000 24Seven http://www.mtgebroker.com/?p=340 Whether you’re in foreclosure now or worried (Source:HUD.gov)
about it in the future, we have information that can help.

Get Help Now!

Keep Your Home

Refinance Options

If You Can’t Keep Your Home

]]> http://www.mtgebroker.com/how-to-avoid-a-foreclosure/feed 0 Homeowners and Professionals http://www.mtgebroker.com/professionally-driven-real-estate-community-for-homeowners http://www.mtgebroker.com/professionally-driven-real-estate-community-for-homeowners#comments Thu, 11 Jun 2009 14:58:50 +0000 24Seven http://www.mtgebroker.com/?p=1 When it comes to financing it will affect each and every one of our lives, regardless of our backgrounds. This is the one universal component that links us all (besides the man upstairs offcourse).

With that said if you don’t get a handle on the definitions and breakdowns of the most important transaction in your life, it is not a question of will you get something wrong but what will you get wrong.

We are are putting together a comprehensive site that should just about cover all aspects of your homeownership.

If you are a Professional give good competent advice and if you are a Consumer (Homeowner) ask questions.

Professional help one Homeowner at a time …

]]> http://www.mtgebroker.com/professionally-driven-real-estate-community-for-homeowners/feed 2