American Mortgage Specialist

Wikepedia defines “deflation” as:

In economics, deflation is a decrease in the general price level of goods and services.^[1] Deflation occurs when the annual inflation rate falls below zero percent (a negative inflation rate), resulting in an increase in the real value of money – allowing one to buy more goods with the same amount of money. As inflation reduces the real value of money over time, conversely, deflation increases the real value of money – the functional currency (and monetary unit of account) in a national or regional economy.

Currently, mainstream economists generally believe that deflation is a problem in a modern economy because of the danger of a deflationary spiral (explained below).^[3] Deflation is correlated with recessions including the Great Depression, asbanks defaulted on depositors. Additionally, d

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Save your money

Would you like your Oregon FHA mortgage payment to be smaller? Would you like to be paying less interest on your Oregon FHA loan? An Oregon FHA Streamline Refinance is the answer.

Up until now, the FHA streamline program was a hard product to use because of having to bring money in to close. This was due to establishing a new impound/escrow account for taxes and insurance while your current lender held your escrow account until after they were paid off. However, that changes in October as do some other things.

In October, the current lender will be paying the taxes from the current impound account. I

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competition among lenders to gain maximum profit and compete to the fullest for enhancing business. However, in the present day numerous services are available on the net, which will allow you to find Connecticut mortgage loan quotes at low interest. In fact, there are a lot of online centers comprising plentiful of lenders, brokerage as well as bank houses that are in a race competing to the last extent for your business. The procedure followed by these online centers is very simple; you simply have to enter the entire information as per their requirement, so that they can generate a mortgage loan quote which includes various lenders as well as their contact number. Read full post…

A new FHA refinance program is targeting non FHA home owners that are upside down on their mortgage equity. There is now more information from FHA about the program and how it will work.

Here are the eligibility requirements:

• Existing loan to be refinanced is not FHA insured;
• Must owe more on their mortgage than the value of the property;
• Must be current on the existing mortgage to be refinanced;
• Must have a “FICO based” decision credit score greater than or equal to 500;
• Existing first lien holder must write off at least 10% of the unpaid principal balance (UPB);
• Loan-to-value (LTV) ratio of no more than 97.75%;
• Combined loan-to-value (CLTV) ratio must be 115% or less; and
• For manually underwritten loans, the qualifying ratios can be no greater than 31/50.

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