Latest News in Mortgages and Home Loans- April 09, 2009

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FHA Loans Performing Well in this Economic Climate
Even though the Federal Housing Administration is experiencing problems due to loan defaults and foreclosures, FHA loans are still performing relatively well. When you compare FHA loans to subprime loans, they are performing admirable. Indeed, the FHA is expected to be able to weather the current mortgage market crisis and recession in better shape than […]

?Sticky? Asking Prices Slowing Existing Home Sales
I read something interesting over the weekend in a local newspaper. It is a story about how sellers are refusing, in some cases, to lower the asking prices on their homes. This is a development that is contributing to the slowdown in home sales in some real estate markets. Andrea Mitchell offers this insight into […]

Loan Modifications May Be Working: Here?s Why
Image by TheTruthAbout… via Flickr
Mortgage lenders aren’t thrilled about loan modifications, but they may be working nonetheless. The key is affordability. Loan modifications that help homeowners better afford their payments result in better results than mortgages that don’t change anything at all. CNN Money reports on the latest government report showing that loan modifications may […]

New Accounting Rules for Banks
Image by Getty Images via Daylife
Mortgage lending banks have had problems lately with toxic assets on their balance sheets. Complex derivatives and credit default swaps make up a large amount of “assets” causing problems on the balance sheets of banks. After leveraging heavily to invest in these opaque vehicles that hardly anyone knew how to […]

Is Commercial Real Estate Next?
Commercial real estate has been barely hanging on in some areas (although Detroit is famous for its “dead” malls already). However, with a deepening economic recession, things can’t keep limping along for much longer. Indeed, there are two main issues that are likely to affect commercial real estate in the near future:

Slumping retail sales and […]

Twitter Helps Fast Track Mortgage Loan
Image via CrunchBase
Any number of pundits and others make fun of Twitter. My husband makes fun of Twitter. He just doesn’t “get” it. Some days, I don’t know why I am doing it, either. And then I get a job lead or some other benefit, and my faith in Twitter is renewed. Today, I found […]

Bank Failure Friday: Omni National Bank
It’s turned into kind of a joke: “Failure Friday” has become a staple on many finance and mortgage blogs. Friday seems to be the day that regulators seize failing banks, and in the current climate, some people really like to hear about these failures. Failure Friday is almost an official term. I haven’t really got […]

Obama Mortgage Calculator: Do You Qualify for Mortgage Modification?
In the past few weeks, President Barack Obama has announced a couple of efforts to help prevent foreclosure. One is is a mortgage modification plan designed to help people refinance their homes in order to avoid foreclosure. The idea is for them to get some loan modification or a refinance before they slip into delinquency. […]

Ready to Refinance? Make Sure You Get the Best Interest Rate
The big news right now is that mortgage interest rates are at lows not seen for decades. For those who have been fiscally responsible, now is the time to reap the rewards. And they could be big. CNN Money offers a look at what someone who has an average home with an average could save […]

Be On the Alert for Foreclosure Prevention Scams
A profusion of scams has erupted since this financial crisis hit. With aid being promised from the government, and with people becoming increasingly desperate, it is no surprise that the unscrupulous are trying to scam many folks out of their hard-earned cash. CNN Money has information on foreclosure prevention scams that are cropping up:
She’s worried […]

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