Category: Mortgage Rates
FHA All Day.Com Sued By State For Allegedly Fleecing Homeowners Facing Foreclosure
Attorney General Richard Blumenthal today announced he is suing FHA All Day.Com, Inc. for allegedly charging Connecticut homeowners tens of thousands of dollars and then failing to deliver on promises to help them avoid foreclosure.
Blumenthal sued the company in cooperation with Department of Consumer Protection (DCP) Commissioner Jerry Farrell, Jr. The lawsuit seeks restitution for consumers and civil penalties of up to $5,000 per violation of state consumer protection laws.
CtWatchdog’s Personal Finance Series: Tip 1 – Borrow NOW – Refinance Or Purchase A First Home
One thing I have learned that whenever I needed to borrow money it was always difficult and costly. But when I didn’t need the money, banks and credit card companies did their best to get me to borrow.
So if one combines that fact of life with the bet that interest rates and borrowing costs will more than likely rise in the next 12 to 36 months, you may want to think about borrowing money that you don’t need now.
One way to do it is to refinance your home if you are paying six percent or higher on your mortgage. It only makes sense to do that if you had your mortgage just for a few years, plan to live there at least five more years, and have more than 20 percent equity in your home.
Mortgage rates decline according to today’s Zillow report
www.zillow.com/Mortgage_Rates/.
Report from Zillow.com
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.19 percent, down from 5.30 percent the week prior, according to the Zillow Mortgage Rate Monitor.
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