Low mortgage rates will not last forever

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As long as Treasury is buying mortgages guaranteed by Fannie Mae and Fredie Mac, mortgage rates will remain near historic lows. Federal government is virtually the only purchaser of this type of securities, since private investors ran for cover in mid 2008 and never came back as viable players. If not for the Fed, there would be very few takers for financial products backed by US mortgages. Most of the experts predict that Treasury will gradually withdraw from buying large amounts of mortgage backed securities some time in 2010, most likely in 3rd and 4th quarter. So what happens when Uncle Sam stops buying our mortgages? Most likely the private banks that will replace federal government on the secondary mortgage market will charge much higher interest rates based on current (uncertain) economic situation.

Foreclosures in Melrose Park - Back on the market

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Increadibly Cheap Bank Owned House

Just look at this price! Large house with 2 bathrooms and a basement, lots of parking space. Great deal on foreclosures in Maywood, IL

3BR/2BA Single Family House offered at $27,500!

Nobody will believe you if you get this deal! ***PRICE***PRICE***PRICE***. So much potencial! This home is perfect for large families. Why pay rent if you can own a piece of American Dream? Remodeled in 2004/2005 this house features an oversized lot, long driveway, enclosed porch and full basement. All room and room sizes are approximate. Please verify for yourself when at property.

For more bank owned properties in Chicagoland, please visit our northwest Chicago foreclosures website .