September 18th, 2011

Weekly Recap (09/12/11-09/17/11)




Have a question? Ask our expert!”

Among the many things offers its visitors, is a chance to have your mortgage questions answered by our very own site expert.’s Vice President Keith Gumbinger has over 25 years experience as an expert observer of the mortgage and consumer debt markets. Gumbinger, who has been cited in thousands of articles covering a wide range of consumer finance and economic topics in outlets ranging from the Wall Street Journal to the Bottom Line newsletters, stands ready to answer your questions.


Here’s how you can get the lowest mortgage rates available

We all know that the “most qualified” borrowers–those with the highest credit scores, solid incomes, strongest payment histories, and either a substantial equity stake or large down payments–have access to the best mortgage rates available.

But there’s another way borrowers can make sure they have access to the lowest possible mortgage rates:

Close quickly on your loan.


Lower loan limits won’t make a significant impact

In about two weeks, the nation will have new and lower loan limits as efforts to keep today’s higher limits seem to have stalled as of this writing.

New limits may only last three months


The catch, of course, is that the limits set to start on October 1, 2011 are also set to end on December 31, 2011, meaning the debate regarding loan limits will not be over regardless of what happens at the start of next month.


Homeowners: Beware of post-Irene scams

Homeowners all along the Eastern Seaboard were battered by Hurricane Irene. High winds, but most of all flooding, destroyed countless homes and businesses.

Flooding: A natural disaster all homeowners must deal with


But as you’re assessing the damage and realizing the work that needs to be done, experts warn that another disaster may be waiting in the wings: scam artists.

Our friends over at (a great place for homeowners to learn everything they need to know about insuring their homes and belongings) warn that shady contractors–promising repairs and clean-up services–may be waiting to prey on needy homeowners.


Foreclosure claim? Prove it!”

A few months back I received a letter from a defunct video store explaining that I owed $160. This demand letter received a suitable response which I sent to the debt collector by certified mail with a return receipt requested.

What was the response? In essence, it was: Prove it.


Unpaid bills can lead to credit report dings, so the video store claim required a proper and prompt response.


Mortgage rates continue to fall to record lows

Mortgage rates fell to record lows once again last week. While it’s certainly not breaking news at this juncture, it goes without saying that with every new venture into record-low territory, at least some qualifying borrowers are getting the opportunity of a lifetime.

Borrowers that purchase or refinance at current mortgage rates may never have to refinance to a lower rate ever again.

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About the HSH Blog's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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