Mortgage costs for borrowers without big down payments and with less-than-perfect credit scores are set to rise next spring.
Freddie Mac and Fannie Mae, maybe you have heard of them, they just happen to be two of the larger mortgage / finance companies out there that are dominating the mortgage market. It seems that they will be raising the fees that they charge the lenders. The lenders will then pass along those fees to consumers in the form of higher interest rates.
Fannie had an update posted on its website that showed just how high rates could go. Click out the numbers on their website - Click the button below to view the page.

The Federal Housing Finance Agency, who regulates both Fannie and Freddie have been working together to make these changes. It Seems the FHFA wants to raise these fees in an effort to make non-government-backed lending more competitive, particularly for riskier loans. Even with the latest changes, Fannie and Freddie will be charging less than what the regulator believes a private investor would require to meet a traditional rate of return. Hurry hurry and get your financing now! Happy hunting.

That if a tenant abandons the rental property that the landlord can take possession?  The tenant must have indicated by word or deeds AND have unpaid rent before the landlord can declare the property abandoned.  If the tenant abandons any personal property that has either emotional or financial value it must be stored for 45 days and there is a process for notifying the tenant.

A judge can award a tenant up to $500 per day for every day a tenant is without his/her personal property if a landlord illegally removes a tenant’s property.  If a landlord disposes of the tenant’s property without due process, the landlord could also owe the tenant the stated value of the belongings.

Did you know…
 
That frozen pipes can occur even in occupied properties?  Here are some tips for prevention:

• Locate the main water shut off before a broken pipe occurs. 
• Disconnect all hoses; if the water freezes in the hose, it can break the spigot. 
• Most new spigots have a shut off valve inside the house or garage; shut off any spigots with this feature.
• Put spigot covers on all outside faucets.
• Make sure that there is some heat on in the house at all times, including when no one is home.
• Keep the garage door closed so any heat will be kept inside.
• If the temperature drops below 20° during the day, let water trickle in all the faucets.
• In periods of extreme cold, leave cupboard doors open under sinks on exterior walls so the heat will get to the pipes.

Hope this helps, stay warm its cold out there!

Looks like mortgage rates have moved a little lower to begin the week, continuing a positive move that began last week.  Today's improvement brings the total improvement over 4 days to one-eighth of a percent and also fully erases the damage done by the strong jobs numbers on Nov 8th.  It seems that today's rate sheets are as good as they've been since Thursday Nov 8th. Click the link below and read the full article. http://www.mortgagenewsdaily.com/consumer_rates/332340.aspx