It seems like this would be challanged (sucessfully) in court since the laws when the contract was signed didnt allow modification. I can understand how they could mandate that future mortgages are capable of being modified but not those already written… seems kinda like ex post facto.
May 13 2011 | Posted in
Mortgage Q&A's |
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Hello, I am looking into purchasing a home using FHA the house was recently vandalized and there are holes in the wall, will the FHA inspector require the holes to be fixed prior to closing the loan ?We are not considering a 203K. Also, what appliances are required to close a loan I have getting [...]
Aug 26 2010 | Posted in
Loan Q&A's |
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About a month ago, Paulson was talking about a plan to freeze adjustable rate mortgages that meet a certain criteria? Was that plan passed? I haven’t heard much about it lately. If it was passed, how do you take advantage of it? Is your ARM automatically frozen or do you have to apply some how? [...]
Feb 26 2010 | Posted in
Mortgage Q&A's |
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