Latest News in Mortgages and Home Loans- April 20 , 2010

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Citigroup Reports Surprisingly High Earnings
Today, Citigroup released its earnings for Quarter 1 of 2010. The result was a surprising profit, based on revenues that exceeded expectations. Daily Finance reports on Citigroup’s earnings:

Citigroup’s revenue came in at $24.5 billion for the first quarter, down from the $27 billion booked in the year-ago period but a significant improvement over [...]

Running Out of Time for the Home Buyer Tax Credit
If you want to take advantage of the home buyer tax credit, you are running out of time. Last year, Congress passed a law that allowed first time home buyers to get a tax credit of up to $8,000 in order to buy a home. However, that deadline expired at the end of October 2009. [...]

5 Financial Reform Fights Developing
Ever since the financial crisis of 2008, there have been noises about financial reform. However, not a whole lot has been done in terms of progress forward, although some reform measures, such as those passed with the Credit CARD Act, have gone through. And, even as banks balk at reform measures that might be enacted [...]

Banks Balk at Increased Liquidity Requirements
After the financial crisis of 2008, G-20 leaders asked for a committee to meet and come up with capital requirements and liquidity requirements. The committee is working in Basel, Switzerland, and it is raising some concern amongst bankers, who worry that requirements are too strict. Indeed, U.S. bankers met with Fed representatives to voice their concerns. U.S. banks aren’t the only ones concerned, either.

Bank of America, JP Morgan May Not Be That Stable
Some financial sector companies may not quite be ready for the kind of confidence we would like to show in them.

Mortgage Related Tax Deductions
April 15th is almost upon us. Don’t forget that there are mortgage related tax deductions available for filers.

New Short Sale Plan from the Obama Administration
There are a number of resources available for those looking to avoid foreclosure in the current market. One of the solutions has been an attempt at a short sale. However, short sales take a long time for approval, and that diminishes their appeal. On top of that, many homeowners can’t afford to move out of [...]

Consumer Loan Delinquencies Decline
In addition to a decline in home mortgage delinquencies, it appears as though late and missed payments on consumer loans are also decreasing. MarketWatch reports on the new consumer loan numbers:
The ABA’s composite ratio, which tracks delinquencies in eight consumer loan categories, fell to 3.19% in the fourth quarter, compared to 3.23% in [...]

What If You Aren?t Ready for April 15?
April 15 is just around the corner — it’s only a week away. What if you aren’t ready?

Home Contracts Jump
Home sales contracts jumped in February, prompting hopes that the housing market really is stabilizing, and that things are on the verge of improvement.

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