"We have a system that increasingly taxes work and subsidizes nonwork."Milton Friedman
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Debt Consolidation Mortgage Loans - How To Secure A Loan To Payoff Debts
Trade in your high interest credit card debt with a debt consolidation loan secured by your mortgage. With your home's equity as security, you qualify for some of the lowest rates. And you can select terms that best fit your budget needs. So you can ...
Home Loans
Approvals of home loans in January 2005 fell to their lowest level since January 1999. Only 126,300 mortgage loans were approved throughout the month, representing a 28% year-on-year drop in mortgage loan approvals. With competition between lenders in the ...
The Pros And Cons Of 40-Year Fixed Loans
With interest rates going up and property values starting to appreciate at a slower rate or flatten out, a new kind of loan has started to become more popular. The 40-year fixed loan allows you to amortize the loan over a 40-year period instead of the ...
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Freddie Mac can help you obtain a home mortgage loan.
But while Freddie Mac might sound like a generous uncle, it's more closely related to Uncle Sam. So what is Freddie Mac, and how does it help you when buying a home?
Freddie Mac is the Federal Home Loan Mortgage Corporation, a private corporation founded by Congress in 1970. Freddie Mac supports the secondary mortgage market by purchasing residential mortgage loans, securitizing them, and selling them to investors (usually through Wall Street).
By purchasing mortgage loans, Freddie Mac increases the availability and affordability of home loans for low- and middle-income Americans.
So while you won't normally deal with them directly, Freddie Mac has a major impact on the price of mortgage loans -- something that does affect you directly.
Here's how Freddie Mac explains their primary benefit to home buyers. The following passage comes from their website, www.FreddieMac.com:
"Currently, we buy one mortgage every seven seconds to help finance one in six American homes ... Because Freddie Mac exists, millions of Americans benefit from lower interest rates, readily available home mortgage credit, a wide choice of mortgage products and reduced loan origination costs."
Educating Home Buyers
Freddie Mac also plays a major role in educating home buyers. Their website offers a lot of informative (and credible) articles on home ownership, home buying, mortgages and more. To use these resources, visit www.FreddieMac.com.
* Copyright 2006, Brandon Cornett. You may republish this article in its entirety, provided you keep the byline, author's note and website hyperlink intact.
About the author:
Brandon Cornett is the editor of HomeBuyingInstitute.com, one of the Internet's largest libraries of home buying information -- over 100 expert articles on home buying and home mortgage loans! Learn more at: http://www.HomeBuyingIn stitute.com
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