White House could Unveil Mortgage Plan Next Week IBTimes Hong Kong
Officials had long been wary of trying aggressive new programs to revive the housing market. The prevailing view at the White House over much of the last two years was that any remedies would cause at least as many problems as they solved.A mainstay of the administration's housing initiative, rolled out in April 2009, has fallen short of expectations. Known as the Home Affordable Refinance Program, it was originally intended to help 4 million to 5 million homeowners avoid foreclosure. As of May it had helped only about 810,000 homeowners refinance into loans with lower rates, according to the Federal Housing Finance Agency.
But Democrats close to the White House said the weakness in the economy and the drop in mortgage rates have led officials to take a second look at ideas that could bolster the housing market and ease the strain on household budgets.
Analysts who favor action say housing is at the heart of the economy's woes and that its moribund state is creating a risk of a Japanese-style "lost decade" of economic stagnation.
Commercial Mortgage Lenders- Burbank Apartment Refinance
Commercial Mortgage Lenders- portfolio apartment refinance
Commercial mortgage broker Financial Compound has arranged has arranged a $1 million refinance for a 1950’s built multifamily property. The class-B property consists of a 2-story, 20-unit building plus 5 free standing cottages. The borrower desired a few customized features in the loan making the loan unsuitable for agency or securitization lenders, including special provisions related to non-monetary defaults and borrower’s cure rights. As a result, Financial Compound directed this transaction to portfolio commercial mortgage lenders. Loan terms included (1) Rate: 12 MAT + 2.70% (Floor: 2.70%, Cap: 8.96%); (2) Term/Amort: 30/30; (5) Non-recourse; (6) Lender Fee: Par; (7) Prepayment: By year–3.0%, 2.8%; 1.6%, 0.4%, 0.2%, then open to prepay. Borrower may convert to fixed at then-prevailing rates.
This transaction represents another commercial mortgage broker Financial Compound deal for a repeat client where Financial Compound was able to work with commercial mortgage lenders to customize the transaction according to the borrower’s specifications. Many of our deals are for repeat clients who do all of their real estate financing through us. Most of our marketing has been through word of mouth referrels.
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Hard Money Lenders in Burbank California
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Around the nation - Houston Chronicle Around the nation Sirius XM said last week it may be forced to file for bankruptcy as soon as today if it can’t reach an agreement to refinance debt. |