AmeriDream Inc., a downpayment assistance provider based in Gaithersburg, Md., has launched the DreamKeeper Mortgage Payment Relief Program, which combines mortgage payment protection against involuntary unemployment and disability with the downpayment gift.Unlike similar products, it offers homebuyers fully paid principal, interest, taxes, and insurance for up to nine months if borrowers lose their job or become disabled, and allows for extended coverage of up to five years after a six-month vesting period. "Many mortgage protection programs in our industry only cover the first year following the purchase of the home," said Ann Ashburn, AmeriDream's president and chief executive officer. She added that, according to HUD's 2003 delinquency and foreclosure report to Congress, these defaults occur mostly between the second and fifth years of homeownership. "We designed DreamKeeper so it would benefit people when they need it the most," she said. The company can be found online at http://www.ameridream.org.
-
Government officials confirmed the California Democrat is under scrutiny over a long-held Maryland property he designated as a second home in 2020.
1h ago -
Credit availability declined in June as the job market and rising delinquency figures have some lenders concerned, the leading mortgage trade group said.
2h ago -
The Ocean State is the latest to enact rules prohibiting the agreements that end up tying older homeowners to long-term contracts with real estate brokers.
2h ago -
CEO Robin Vince refused to comment on "rumors or speculation" about a potential merger between the custody banking giant and its smaller rival, Northern Trust. He also said that the bar for BNY to engage in M&A is "very high."
3h ago -
House Financial Services Committee Chairman French Hill promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau.
4h ago -
Gain on sale at JPMorgan Chase fell by 5 basis points in the second quarter, which could be a slightly adverse sign for mortgage banker results, KBW said.
5h ago