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Modification

A loan modification is a change to the original terms of your loan. Loan modifications could include lowering your interest rate, extending the term or maturity date of the loan, moving you from an adjustable to a fixed-rate loan, deferring some portion of the unpaid principal balance to the end of the loan, and/or forgiving some portion of the unpaid principal balance.

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Fast Facts (October 2011)
Wednesday, 19 October 2011 22:18

Calif. median home price: September 2011: $287,440 (Source: C.A.R.)
Calif. highest median home price by region/county September  2011: Marin: $786,590 (Source: C.A.R.)
Calif. lowest median home price by region/county September 2011: Siskiyou County: $113,330 (Source: C.A.R.)

Calif. Pending Home Sales Index: August 2011: 125.3, an increase of 12.6 percent compared with a prior year.

Calif. Traditional Housing Affordability Index: Second quarter 2011: 51 percent (Source: C.A.R.)

Mortgage rates: Week ending 10/13/2011 30-yr. fixed: 4.12 fees/points: 0.8% 15-yr. fixed: 3.37 fees/points: 0.8% 1-yr. adjustable: 2.90% Fees/points: 0.6% (Source: Freddie Mac)

 
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