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Fannie Mae has recently reported a third quarter loss and will be asking for help of $7.8 billion from the Treasury Department.  In a recent report, the government-sponsored enterprise had reported a net loss of $5.1 billion in the period between July and September. This loss is due to the defaults on loans which were made before 2009 and consequent losses that are linked to a decline in interest rates.

Good news for the borrowers!! :) Federal regulators and nation's largest mortgage servicers have announced that around 4 million borrowers, who had faced the problem of foreclosure since early 2009, will now have the chance to get their foreclosure cases reviewed for potential wrongdoing.  Some of the examples of financial injury can be the miscalculated fees charged to borrowers, foreclosure of property when borrower has filed bankruptcy, foreclosure of the property when borrower had applied for loan modification and so on.

The housing market has still not improved and as a result the homeowners have become desperate to get a mortgage and buy a property. Due to this, the homeowners are turning out to be an easy prey for the mortgage scammers. These scammers will say what you want to hear and you will start trusting them and then sign on the dotted lines. Con artists and scammers are duping a large number of homeowners in this way every year and the number has increased in the last few years.

The Federal Housing Finance Agency, Fannie Mae and Freddie Mac have announced an improved Home Affordable Refinance Program (HARP). Experts are of the opinion that this will allow quite a large number of delinquent borrowers to refinance their existing mortgages.

Buying a home is a dream come true, isn't it? We all want to own a home and when that dream comes true, it's the most wonderful day of our lives. However, it is the time when your credit is at risk. Your personal information is shared with a number of people such as your real estate agents, brokers, etc. Here are 5 ways in which you will be able to safeguard your credit before you buy your home:

When you apply for a mortgage refinance, it is very likely that the mortgage lender will ask you to order a property appraisal in order to assess the property value.  This property appraisal will cost you quite some dollars. However, apart from the cost of the property appraisal, there are certain pros and cons associated with it. Let’s take a look at it:

Advantages of property appraisal:

The advantages of property appraisal are as follows:

Refinancing a home mortgage will become quite expensive in the near future due to the credit risk retention rule. Moreover, those homeowners who don't have substantial equity in their property will have to take a decision even faster. However, it has been said that the rule governing "qualified residential mortgages" is still in fluctuation and may not come into effect until at least a year from now.

Credit cards play a very important role in today’s life. Credit cards are issued by a credit card company or a bank and they will send you a monthly bill of your transactions. As a credit card holder, you will be liable for paying all or part of your balance to the credit card company each month. Some of the credit cards will allow you to carry a part of your balance into the next statement period.

Unemployment and financial crisis have created havoc in our lives. In a recent survey, it has been found that there is a gap in Americans' ability to pay their mortgage after they became unemployed. Around 68% of the homeowners have claimed that once they lose their jobs, they wouldn't be able to make mortgage payments for more than 9-10 months.

Here is a list of 5 ways which will help you in dealing with this problem of mortgage gap:

Paying off the mortgage early is always a good option to go for provided you have the required money. A lot of people have seen the foreclosure crisis. Now people want be safe and secure to some extent by owning their home free and clear.

Here are 3 ways which will help you in paying off your mortgage in a safer and faster way. You can compare the options and go for the one which you think will suit you the best: