Fed raises emergency funding rate.

The Federal Reserve raised the rate it charges banks that borrow from the central bank when they run short of funds. The Fed said late Thursday it is raising its discount rate by a quarter percentage point, or 25 basis points, to 0.75%. The central bank said in a...

New rule affects homeowners in foreclosure avoidance program

New rule affects homeowners in foreclosure avoidance program AMP documentation requirements updated. The U.S. Dept. of the Treasury and the Dept. of Housing and Urban Development (HUD) recently announced changes to its Home Affordable Modification Program (HAMP). The...

Struggling to pay your FHA mortgage?

 Struggling to pay your FHA mortgage? Now you no longer have to be late with your payments to get help. On Friday, the Federal Housing Administration announced that it will assist borrowers before they become delinquent. All you need do is prove your problems...