Feb 08 2008
In hope of thwarting a recession, the Federal Reserve took strong steps in the last 2 weeks: a 0.75% emergency interest-rate cut followed by another 0.5%, bringing its target short-term rate down to 3.0%. For mortgage holders, this is mixed news. On one side, the drop in rates will ease some homeowners’ mortgage pain. But it will also reduce savings rates. Here’s what to expect:
Mortgages
Oct 11 2007
Due to the recent sub-prime meltdown, many mortgage companies are tightening their lending standards. These tightened standards are making it difficult for many people to obtain loans, which is why Woodhill Homes is now offering a Lease Option.
With a Lease Option the monthly payment on a home is less than a standard mortgage payment; leaving you with more cash at the end of each month. Additionally, a portion of your monthly payment is credited toward your future purchase of the home as equity.
This equity credit is a great benefit to those that are having difficulty obtaining a mortgage difficult lending environment.
