WMFD TV

Search Archive WMFD.com News

www.wmfd.com - Mortgage rates that were reduced under the government's home affordable modification program will increase over the next few years. }}" />

   
 
 
Cheap Mortgage Rates About To Get More Expensive

Story By: Larry Stine

 

 

 
 
 
  Email Story to Friend
   
  Original Published: 3/8/2014

Mortgage rates that were reduced under the government's home affordable modification program will increase over the next few years. A federal watchdog warns that could cause some borrowers to default on their loans. The increases will impact about 783,000 homeowners who got mortgages as low as two-percent under the HAMP program. Modifications were fixed for five years and will now climb to 5.4--percent. The increase will have the average homeowner paying almost $200 more a month. Borrowers in expensive coastal markets could see their mortgage payments climb by as much as $1,700.

   
  MORE RECENT NEWS
 
Image1 Madison School Board approves increase in lunch prices as well as repairs for high school roof. Full Story
Image1 A 5K in our backyard takes place this weekend to benefit a local family. Full Story
 
Image1 Two local universities formalize a long-standing partnership to prepare students for nursing careers. Full Story
Image1 Mansfield firefighters are spending some time around Central Park with boots in their hands. Full Story
  MORE NEWS
 

Mansfield Firefighters Hold Boot Drive For MDA

Former teacher gets probation for sex charges

Mansfield Schools Open For New Year

Armed Robber Hits Park Avenue East Gas Station

Eastview Elementary Parents Club Reports $10,000 Theft

Mansfield man arrested for robbery and abduction

State Patrol Investigating Fatal Crash Near Bellville

Bucyrus Native Rides Bike From Alaska For Reunion

Mansfield man will be sentenced in shooting case

Richland Co. Dog License Fee Increases Next Year

Kidnapping suspects indicted by Richland County Grand Jury

Avita Health System Opens First Phase In Ontario

Ribbon Cut For Buckeye Village Apartments

Local ALS Patient Thrilled With Ice Bucket Challenge

More News