In a settlement reached in principle today between Countrywide and The State of Florida, Countrywide will work with thousands of Florida home owners moving them from adjustable rate mortgages to fixed-rate, fully amortizing loans.
The lender will suspend foreclosures that meet certain criteria while determining if they qualify.
Related Florida real estate views:
Florida vs Countrywide. Lawsuit filed.
Countrywide wants to help troubled home owners
Poor underwriting help fuel subprime mortgage mess
- Greg Staker 407-304-0255
Showing posts with label fixed rate mortgages. Show all posts
Showing posts with label fixed rate mortgages. Show all posts
Jul 29, 2008
Buyers are choosing fixed rate mortgages
The Mortgage Bankers Association reports that consumers increasingly chose fixed rate mortgage products during the last part of 2007.
Fixed rate loans accounted for 63.6 percent of loans in the second half of 2007.
The survey also noted that the first time purchaser's average loan amount was $215,185 during the last half of 2007.
Related Florida real estate views:
- Greg Staker Watson Realty Corp. 407-304-0255
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