Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Debra in Irvine asks: Q. My husband and I are retired (ages 75 and 68). We have a home…

Federal Housing Administration insured loans have accounted for about 25% of purchase home loans in Orange County over much of this year, after the loan limit was raised to nearly $730,000 in high-cost areas like this county. FHA’s market share has also grown nationwide. With FHA’s insurance pool covering…

National Mortgage News reports that Home Mortgage Disclosure Act figures for 2008 show that minorities “were big losers in the market contraction last year.” And with credit still tight, the outlook for minority access to home loans this year and next looks bleak. But is that a bad thing?…

Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Ed in Yorba Linda asks: Q. We have a 740 FICO credit score, more than ample reserves, no consumer…

Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Louis in Irvine asks: Q. I am a married 74-year-old retiree. I took out a 40-year adjustable-rate loan in…

Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Q. I’m interested in buying a house but I have little money for a down payment. I was wondering…

Policy makers are torn between banning loan modification companies and attorneys from charging up-front fees , or just issuing state grants to help unemployed homeowners pay their mortgages . While the Obama administration boasts that 500,000 homeowners have entered into trial loan modifications a month ahead of the targeted…

California Loan modification companies and attorneys that charge up front fees will have to change their business model as of Monday. via The Sacramento Bee | Oct. 13,2009 Loan modification firms that promise to help struggling borrowers get their mortgages rewritten have been banned immediately from asking for cash…

Article Bullets: 500,000 trial loan modifications completed under the Making Home Affordable program As of Sept. 1, the report says, only 1,711 homeowners have completed the three month trial period and been approved In mid May, Treasury announced that more than 55,000 homeowners had begun trial modifications Overall, servicers…

October 9, 2009 For Immediate Release WASHINGTON, D.C. – The Congressional Oversight Panel today released its October oversight report, “An Assessment of Foreclosure Mitigation Efforts after Six Months.” Treasury’s Strategy is ‘Inadequate’ to Address Coming Wave of Foreclosures; For Many Homeowners, Foreclosure Will Be Delayed, Not Avoided. The Panel…