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A wealth of options for money advice
A wealth of options for money advice “The next 10 to 15 years will be spent getting comfortable buying services online,” Kitces, a Virginia-based financial planner who tracks the industry on his Nerd's Eye View blog, said. The range of online tools varies in Banks are often overlooked

Mojo - January 2014
Mojo - January 2014 A Virginia man who claims that as a teenager he was detained, interrogated, and abused in Kuwait at the behest of the Obama administration (a story I wrote about here) has won a key victory in his lawsuit against the government. A George W. Bush

Bank of America Mortgage Rates: 30-Year Refinance Rates and Home Loans for ...
Bank of America Mortgage Rates: 30-Year Refinance Rates and Home Loans for ... In other news, the Mortgage Bankers Association (MBA) reported on Wednesday, that its Market Composite Index, which measures overall mortgage activity, improved 4.7% on a seasonally adjusted basis in the week ended January 17. Loan applications for

Bank of Lancaster Announces Promotions
Randal R. Greene, President and CEO of Bank of Lancaster and Bay Banks of Virginia, reports that the Bank's Board of Directors promoted both Pamela J. Fawver and Robert H. Fleet, III to the office of Senior Vice President. Fawver, a life-time resident

New York compare mortgage lenders and hard money New York compare mortgage lenders and hard money, rates for refinancing and fha mortgage rates today againstmortgage rate ...

Mortgage lenders lower barriers for those with student debt

Mortgage backers Freddie Mac and Fannie Mae have recently changed lending rules to give more leeway to borrowers like Kristen Griffin, who have high student loans.

Griffin is a librarian at Nemo Vista High School in Center Ridge, Arkansas. She and her husband Mark are window shopping on Zillow while their 2-year-old son Fletcher sleeps nearby.

“It has a huge front porch. I am a front porch sitter,” she said while looking at a house on the site. It’s an older home with extra room for a library.

“I’m a librarian, and you don’t see any books in here do you? Because there’s no room for any books, but this would be a beautiful library,” she said.

While the Griffins would like to purchase their first home, together they have  nearly $100,000 in student loan debt, mostly from Kristen's master’s degree in library science. Two years ago, they weren’t able to pre-qualify for a loan, but their chances may be different now.

Mortgage backers Fannie Mae and Freddie Mac have new lending rules designed to make it easier for people with student debt to qualify for a mortgage. Fannie Mae and Freddie Mac would now consider Kristen's lower monthly student loan payments,  that she negotiated down to about $413, instead of the maximum monthly payment, when calculating  eligibility for a mortgage.

Following NECIR report, readers donate to save senior's home

Virginia Rayford doesn’t need to worry about losing her Washington, DC, rowhouse anymore.

The 92-year-old widow was facing foreclosure because of a $6,004 debt to the servicer of her mortgage loan due to unpaid taxes and insurance.

But dozens of people recently donated to help — from cash gifts of $10 to $1,000 – so that Rayford will be able to pay off her debt and do some needed repairs to the home in Washington’s Petworth area that she has owned for decades.

“I’m very pleased,’’ Rayford said. “I’m really surprised that so many people wanted to help a 92-year-old lady like me.”

Rayford’s story was detailed in a New England Center for Investigative Reporting article published last month that focused on a growth in foreclosures among seniors with federally insured mortgages meant to help elders age 62 years and older “age in place.”  The loans, known as reverse mortgages, allow seniors to borrow from equity in their homes with debts they don’t have to pay back until they die, move or fail to meet other requirements of the loan.