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House Votes to End Unemployed Homeowner Program
HOW LOANRATEUPDATE WORKS
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FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
House Votes to End Unemployed Homeowner Program
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
House Votes to End Unemployed Homeowner Program

March 14, 2011 (Shirley Allen)
mortgage-moneyouttahat-image
The U.S. House voted 242-177 to cancel the Emergency Homeowner Loan Program (EHLP) for homeowners who have lost their jobs as Republicans move to eliminate funding for President Barack Obama’s anti-foreclosure efforts. The $1 billion emergency loan program to help borrowers keep their houses was funded by a Democrat-led Congress before Republicans took control of the House. Because it is still in the design phase, no money has been spent on it yet.

EHLP, created under the Dodd-Frank Act, would begin taking applications in the spring of 2011. The Department of Housing and Urban Development (HUD) set aside $1 billion to provide up to $50,000 in interest-free loans covering mortgage payments for up to 24 months. Roughly 30,000 homeowners are expected to take part in the program.

“This is about programs that aren’t working,” said Representative Shelley Moore Capito, a West Virginia Republican, before voting. “This is a good-sense cut.”

Rep. Spencer Bachus (R-Ala.), chairman of the Financial Services Committee, called the EHLP another bailout for the largest banks who hold the debt on these mortgages.

“This Washington spending binge is driving our country right off a cliff,” Bachus said. “When the taxpayers pay a $50,000 check, who do you think it goes to? It goes to Bank of America. It goes to JPMorgan Chase. It goes to Citigroup. This billion dollars is not going to homeowners. It’s going to the largest institutions.”

Representative Melvin Watt, a North Carolina Democrat, said the Republican measure is “mean-spirited.”

Democrats have asked Republicans to improve the programs instead of terminating them.

Rep. Barney Frank (D-Mass.) said Democrats are planning a bill that would require all of the funding to come from institutions with more than $50 billion assets and hedge funds with more than $10 billion in assets.

To become law, the bills must clear the Democrat-controlled Senate and be signed by the president, which most government watchers doubt will happen.

Tags: EHLP, HUD, emergency loan program, borrowers, interest-free loans, mortgages, spending binge

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
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March 14, 2011 (Shirley Allen)
mortgage-moneyouttahat-image
The U.S. House voted 242-177 to cancel the Emergency Homeowner Loan Program (EHLP) for homeowners who have lost their jobs as Republicans move to eliminate funding for President Barack Obama’s anti-foreclosure efforts. The $1 billion emergency loan program to help borrowers keep their houses was funded by a Democrat-led Congress before Republicans took control of the House. Because it is still in the design phase, no money has been spent on it yet.

EHLP, created under the Dodd-Frank Act, would begin taking applications in the spring of 2011. The Department of Housing and Urban Development (HUD) set aside $1 billion to provide up to $50,000 in interest-free loans covering mortgage payments for up to 24 months. Roughly 30,000 homeowners are expected to take part in the program.

“This is about programs that aren’t working,” said Representative Shelley Moore Capito, a West Virginia Republican, before voting. “This is a good-sense cut.”

Rep. Spencer Bachus (R-Ala.), chairman of the Financial Services Committee, called the EHLP another bailout for the largest banks who hold the debt on these mortgages.

“This Washington spending binge is driving our country right off a cliff,” Bachus said. “When the taxpayers pay a $50,000 check, who do you think it goes to? It goes to Bank of America. It goes to JPMorgan Chase. It goes to Citigroup. This billion dollars is not going to homeowners. It’s going to the largest institutions.”

Representative Melvin Watt, a North Carolina Democrat, said the Republican measure is “mean-spirited.”

Democrats have asked Republicans to improve the programs instead of terminating them.

Rep. Barney Frank (D-Mass.) said Democrats are planning a bill that would require all of the funding to come from institutions with more than $50 billion assets and hedge funds with more than $10 billion in assets.

To become law, the bills must clear the Democrat-controlled Senate and be signed by the president, which most government watchers doubt will happen.

Tags: EHLP, HUD, emergency loan program, borrowers, interest-free loans, mortgages, spending binge

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 14, 2011 (Shirley Allen)
mortgage-moneyouttahat-image
The U.S. House voted 242-177 to cancel the Emergency Homeowner Loan Program (EHLP) for homeowners who have lost their jobs as Republicans move to eliminate funding for President Barack Obama’s anti-foreclosure efforts. The $1 billion emergency loan program to help borrowers keep their houses was funded by a Democrat-led Congress before Republicans took control of the House. Because it is still in the design phase, no money has been spent on it yet.

EHLP, created under the Dodd-Frank Act, would begin taking applications in the spring of 2011. The Department of Housing and Urban Development (HUD) set aside $1 billion to provide up to $50,000 in interest-free loans covering mortgage payments for up to 24 months. Roughly 30,000 homeowners are expected to take part in the program.

“This is about programs that aren’t working,” said Representative Shelley Moore Capito, a West Virginia Republican, before voting. “This is a good-sense cut.”

Rep. Spencer Bachus (R-Ala.), chairman of the Financial Services Committee, called the EHLP another bailout for the largest banks who hold the debt on these mortgages.

“This Washington spending binge is driving our country right off a cliff,” Bachus said. “When the taxpayers pay a $50,000 check, who do you think it goes to? It goes to Bank of America. It goes to JPMorgan Chase. It goes to Citigroup. This billion dollars is not going to homeowners. It’s going to the largest institutions.”

Representative Melvin Watt, a North Carolina Democrat, said the Republican measure is “mean-spirited.”

Democrats have asked Republicans to improve the programs instead of terminating them.

Rep. Barney Frank (D-Mass.) said Democrats are planning a bill that would require all of the funding to come from institutions with more than $50 billion assets and hedge funds with more than $10 billion in assets.

To become law, the bills must clear the Democrat-controlled Senate and be signed by the president, which most government watchers doubt will happen.

Tags: EHLP, HUD, emergency loan program, borrowers, interest-free loans, mortgages, spending binge

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS