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Era Mortgage

Era Mortgage - News

The Era of Big Loans
The Era of Big Loans Wealthy home buyers signed up for these loans in droves last year because of their low rates and flexible repayment options. The total dollar amount of originated private jumbo mortgages—which exceed $417,000 in most parts of the country and $625,500

Mortgage rates freeze as market enters uncertain era
Mortgage rates freeze as market enters uncertain era Mortgage rates stayed mostly in place this past week as the housing finance market braced for the launch of the qualified mortgage and ability-to-repay rules among other lending standards. Jobs reports showing only mild improvement also created a type

Interest-only loans a holdover from housing bubble era
Most of the risky mortgages that triggered the financial crisis have disappeared from the marketplace, and lenders will have even more reason to avoid them because of a new federal crackdown on loose lending. But one housing-bubble favorite — the 

Qualified mortgage process not expected to hinder area market
The era of qualified mortgages has arrived, and Strand bankers and real estate officials don't think it will put a dent in the pace of area real estate sales. “The longer it goes, the easier it's going to get for the consumer,” said Mark Branstrom

Joe Couturier, teams up with Sue Pierce ERA Mortgage

Discusses $8000 credit for first time home buyers, deadline drawing near.

The average adjustable-rate mortgage is nearly $700,000. Here’s what that tells us.

The size of the average fixed-rate mortgage last week nationally was $280,900. The size of the average adjustable-rate mortgage was $688,400 – two and a half times as big.

That data point, courtesy of the Mortgage Bankers Association, is a reminder – perhaps an uncomfortable one – that the mortgage industry must still offer products that make it artificially affordable to get people in the door, with the intention of refinancing later.

That’s “uncomfortable” because in many ways, it’s reminiscent of the housing bubble a decade ago. Progressives blame Wall Street , while conservatives blame lower-income people and the government policies that helped get them into homes they couldn’t afford. And analysts of all persuasions blame the mortgage industry for connecting people to increasingly exotic loans that would enable them to afford homeownership, including adjustable-rate mortgages.

The ARM phenomenon of the early 2000s was insidious: borrowers received an initial teaser rate that they could afford for several years, with the expectation that before it reset, they would refinance – and possibly repeat that process again and again. That approach not only made homeowners of many people who probably shouldn’t have been, it also assured a steady stream of fees for lenders.

Anyone have an ERA Mortgage and close to foreclosure?

We have an ERA Mortgage. Our interest rate is 7.8% and our monthly payment on a $150k house is $1320. We can't get refinanced by anyone because (with the high interest rate) we haven't paid down enough of mortgage.

People who are doing what you are find that the companies will NOT work with them especially if the gather information concerning bank accounts and that you COULD have made your payments. Not to mention RUINING your credit.