What Happens if Fannie Mae and Freddie Mac go away?

waving goodbyeDissolving Fannie Mae, Freddie Mac may hurt borrowers
Source: The LA Times

What will the proposed elimination of Fannie Mae and Freddie Mac mean for consumers? In the absence of a government guarantee, experts contend that mortgage rates are likely to rise, and the widespread availability of 30-year mortgages would be jeopardized. Economists at Moody’s Analytics estimate the average mortgage borrower would see interest rates increase by one-half to three-quarters of a percentage point.
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Do you ask Mom and Dad for the cash to buy that home?

parent loanAsking Mom and Dad for Cash to buy that Home

Source: Wall Street Journal

Loans from family members could go the extra mile in making a down payment, but financial experts say parental help is most useful when it comes as a gift rather than a loan during the mortgage application process. A family loan may not be viewed favorably by a lender and could lead to disqualification for a mortgage since the loan is considered unsecured debt.  Read the full story.

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What Worries Buyers Most?

worried buyer7 Things That Worry Buyers Most about the Buying/Selling Process
Source: Chicago Agent Magazine

Tight supplies, rising rates and bidding wars have characterized market conditions for many buyers looking to secure the property of their dreams. A new survey conducted by Trulia and Harris Interactive shows that 41 percent of respondents are concerned that mortgage interest rates will rise before they are ready to buy. Finding a suitable home and qualifying for a mortgage were other major concerns. Read the full story

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