The Obama administration launched a plot today to reduce the amount some troubled borrowers owe on their home loans and give jobless homeowners a temporary break. The escalation in aid comes as the administration is under rising pressure from Congress to resolve the foreclosure crisis, which is straining the economy… But the new initiatives could well spur protests among those who have kept up their payments and are not in distress….
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I am a first time house buyer and need to find a mortgage wihtin the next 16 weeks. I want to know what banks are doing the best mortgage deals at the moment, can anyone help?
Specifically, what’s the ideal position I should be in concerning my finances, credit, etc to get the best terms possible. Keep in mind, I’m a first time buyer whose interested in obtaining a mortgage in about 2 years. In the meantime, I’m paying off my credit cards and saving a small here and there through a money market account.