David Kellermann, the acting Chief Financial Officer of Freddie Mac, was found dead, the apparent victim of suicide. Federal Housing Finance Agency (FHFA) put out a press release saying, “We at FHFA are very saddened by the death of David Kellermann. For many years, we have known David as a person of the utmost ethical [...]

Here is the question: Ken asks, “Does YSP apply to government mortgages as well creating higher than necessary FHA and VA mortgage rates?” “I have a friend who swears that FHA rates are FHA rates because of the assistance aspect- no more, no less. I am fairly confident that it does not matter and those [...]

Darrell asks, “I have a 1st & 2nd mortgage. The 2nd is with a different mortgage company and it has a balloon payment which is due December 2009. What happens if I can’t pay the full mortgage balloon payment amount by Dec. 09 on the second mortgage. They can’t make me sale the house when [...]

Here’s the question: Sunnie asks, “So here’s the deal. My husband and I are trying to refinance the house I owned with my ex-spouse. Salary and credit we are approved for the loan. The appraisal is fine. My husband still has a mortgage with his ex. The decree states that she is responsible for the [...]

Here’s the question: Rachael asks, “I am going through Echo Loans to do a loan modification. They advised me not to pay my mortgage this month. I am not behind on my mortgage, but owe more than my house is worth and my second mortgage is 12%. They advised me that my credit would be [...]

Mortgage interest rates are sitting on the bottom or so believes the interim head of Freddie Mac, CEO John Koskinen. Mr. Koskinen adds any subsequent drop from here would be “incremental”. After all the Fed buying in the mortgage backed securities and Treasuries markets in the last two weeks, I think he is probably right. [...]