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May 17

Mortgage Relief OK For Credit Rating

Posted on Sunday, May 17, 2009 in Mortgage Advice, Mortgage News, Taxes

Though millions of Americans have their fingers crossed for federal assistance when it comes to making their mortgage payments during these times of financial hardship, many have questions about the impact in the long run of such aid. One big question is this: will using the Obama Administration’s program hurt my credit score?

In a word, no. Since refinancing is really just rewriting a mortgage agreement, it doesn’t usually affect a homeowner’s credit score. (more…)

May 15

Job Loss Protection Program to Help New Buyers

Posted on Friday, May 15, 2009 in Mortgage News

Incentives for buying homes are coming out of the woodwork like pre-inspection termites, and Realty USA of Clifton Park, New York is getting in on the frenzy.

Buyers will receive an insurance policy–paid for by a one-time $500 fee at the seller’s expense–to cover mortgage bills in the case of involuntary job loss or economic hardship.

Up to $1,800 in mortgage bills, for up to six months, will be available for coverage under the company’s Job Loss Protection Program. (more…)