Bank of America is making mortgage headlines again by introducing three new loan modification improvements that are specifically designed to assistant military personnel who are behind on their house payments. The three new changes are:

A program designed to help reduce principal on loans for military members who are behind on their payments when leaving active duty.

A new 4% mortgage for members who are eligible for SCRA (Servicemember Civil Relief Act) protection.

The creation of a special customer service department that specializes in working with military customers.

Bank of America wants to specifically help military members …

One of the newest mortgage products available these days is called an EEM or Energy Efficient Mortgage. Energy Efficient Mortgages are mortgages which are designed to encourage people to buy new energy-efficient homes or to buy homes that have energy-efficient improvements by crediting for the energy saving measures in the home. In other words, an EEM will allow a buyer to qualify for a higher mortgage amount than he or she might normally be able to afford….

It’s looking as though this year is on track to top last year for the number of likely foreclosures that are going to occur in the United States. While this is not very good news for the people whose mortage is now months past due, this can be a potentially opportunity for first-time home buyers and people who are looking for housing deals in their particular market.

Since 2009 unsold home inventory, including foreclosed upon properties has been rising. That means that banks now own more and more empty homes on their books. Banks don’t like owning unoccupied …