The national unemployment rate has climbed to 5.8%. Citigroup has announced however that it plans on lowering payments for those recently unemployed. The bank, which is now 36% owned by the federal government, established the Homeowner Unemployment Assist program, which will modify those who are unemployed and are 60 days behind on payments to an average payment of $500 for three months. Customers must have a loan that is owned and serviced by CitiMortgage to participate in the program.
SmartAboutMoney.org in a nonprofit foundation – run by the National Endowment for Financial Education. Their website helps visitors plan their household budget, examine their debt, and shop smarter. It also offers a quiz to help users assess their financial situation. They are committed to educating Americans on a broad range of financial topics and empowering them to make positive and sound decisions to reach their financial goals.
Here is the campaign they are running: The national financial literacy campaign is a large-scale public awareness effort aimed at motivating Americans to get smart about their money. The campaign, sponsored by the National Endowment for Financial Education® (NEFE®), encourages Americans to start achieving their financial goals today by accessing practical information on the smartaboutmoney.org Web site.
Housing prices have fallen dramatically all over the country and rates on 30-year fixed-rate mortgages are already close to 5.5 percent. Experts say it’s possible, with government encouragement, that rates will fall as low as 4.5 percent.
Now is the time for first-time buyers to step up. Here are some things to consider:
Prices have always softened in the winter. As temperatures fall, bargain hunters will have bigger then usual opportunities.
New homes are likely to become scarce. Ian Shepherdson, chief United States economist for the research firm High Frequency Economics, said he believes that a steep drop-off in inventory of new homes is coming soon, due to a rapid decrease in home builder activity.
Location, location, location. Buying the best-priced house in a really good neighborhood is still smart.
Will values go up? You may have to live in a house for 10 years, but over time, buyers will almost certainly make money.
Buying real estate is often the biggest decision in one’s entire life. Before doing so, it’s important to understand all potential financing options available to you. There are many factors that go into buying real estate beyond simply finding a home that fits your needs. You must also decide on a mortgage that is best for you. Gate Arty & the Group want you to be aware of all aspects of the home buying process. Why not begin by receiving you own FREE credit report?
Financing Information
How much home can you afford? There are several loan programs available, and depending on your credit history, debt-to-income ratio, and assets, there is bound to be one that is perfect for you. It is always best to get pre-qualified with a local lender that can assess your needs and long term goals. Your loan officer will evaluate your profile and place you in a loan to obtain the best terms available. They will be able to explain up front what your closing costs and down payment requirements are and also provide you with an anticipated monthly payment based upon what you can afford. A preferred local lender will be knowledgeable of the state and county guidelines to ensure a smooth transaction from application to closing. Find the Ideal Loan for you!Although this list does not encompass all loan options available, it does include some of the more popular programs offered today: http://www.gatearty.com/Finance.asp
Posted by gatearty 
Posted by gatearty 
Posted by gatearty 
How much home can you afford? There are several loan programs available, and depending on your credit history, debt-to-income ratio, and assets, there is bound to be one that is perfect for you. It is always best to get pre-qualified with a local lender that can assess your needs and long term goals. Your loan officer will evaluate your profile and place you in a loan to obtain the best terms available. They will be able to explain up front what your closing costs and down payment requirements are and also provide you with an anticipated monthly payment based upon what you can afford. A preferred local lender will be knowledgeable of the state and county guidelines to ensure a smooth transaction from application to closing. 
