Foreclosure-Answers.org: Freddie Mac's Primary Mortgage Survey

Trouble Making Payments?

#1 - REALIZE HAVE A PROBLEM You first need to realize you have a problem that needs to be fixed. You would be amazed how many other households right now are also having problems and your loan servicer probably has several different options that can help keep you in your house. But, you need to realize you have a problem and then need to act!
#2 - GET DOCUMENTS Before you contact your mortgage servicer, you should get all the relevent information together of how your situation has changed, including paystubs and/or expenses.
#3 - CONTACT SERVICER Contact the loss mitigation group of your loan servicer. You are not the first to have a problem. But, if you have a plan, and all the supporting documents, there is a good chance you can work something out.

April 24, 2008

* the 30-year fixed-rate mortgage (FRM) averaged 6.03% compared to 5.88% last week. The year-ago level was 6.16%.

* The 15-year FRM averaged 5.62% compared to 5.40% last week and a year-ago level of 5.87%.

* Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.68% compared to 5.48% last week and a year-ago level of 5.88%.

When in the market for a new loan, you should compare you APR to these to make sure you are getting a good deal.

Posted at 01:47 PM | Permalink

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