Latest News in Mortgages and Home Loans- Aug 18, 2009

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More Foreclosures May Be Coming
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With the news that close to half of home mortgage loans may be underwater by 2011, there is speculation that more foreclosures may be coming. Indeed, there are concerns that foreclosures might be on the way as the incidence of negative equity increases. While negative equity does not always mean foreclosure, [...]

Nonperforming Loans Could Cause Further Problems for Banks
One of the issues that has some still worried about further economic developments are threats to banks. Many banks are seeing nonperforming loans. These are loans that are delinquent. Part of the problem is that many banks (more than 150 publicly traded) have 5% or more of their holdings in loans that are not performing [...]

Mortgage Servicers Messing Up
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There have been some interesting developments lately that have many wondering just how diligent mortgage servicers have been. While mortgage servicers were recently chastised for being slow to help with loan modification and foreclosure prevention, it appears an even bigger problem is brewing. Perhaps mortgage servicers are slow because some [...]

Want the Best Mortgage Rate? Be Prepared to Pay Points
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Many people are looking to find the best mortgage rates right now. Even though mortgage rates are reasonably low right now, it can be tough to get the best rates. And mortgage interest rates are rising. MarketWatch reports on recent mortgage rates — the points you need to pay in order to get [...]

Is Now the Time to Ask for Lower Rent?
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You may not be quite ready to buy a home, but does your landlord need to know that? With home prices falling, and a number of incentives available for first time homebuyers, it is no surprise that many are making the move from renting to buying. And this is not [...]

Is Now the Time for a Reverse Mortgage?
Image by Alex E. Proimos via Flickr
Many seniors are lamenting the hit taken to their retirement accounts and other investments. As a result, they are looking for a little extra cash to help them ride out this recession while not depleting the principal in investment accounts. One of the ways to do this is through [...]

Will 50% of Mortgages Be Underwater by 2011?
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Today, Deutsche Bank forecast that by 2011, 50% of mortgages will be underwater. BloggingStocks reports on some of the findings of the study:
Declines in home prices and the fact that some of those difficult mortgages just aren’t going away put 26% of homeowners in this situation by the end of last March, and [...]

Is a 30-Year Fixed Mortgage Really the Best Deal?
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Ever since the mortgage market crash, ARMs have been pummeled. The 30-year fixed rate mortgage has been a lower rate, and people have been turning to them. The fear of resetting mortgage rates with their much higher payments has many people going with the traditional, straight-up variety of mortgage. But things are changing.
The [...]

Mortgage Servicers Slow to Help With Loan Modification
Image by TheTruthAbout… via Flickr
One of the cornerstones of the foreclosure prevention efforts made by the Obama Administration is a loan modification program. This program includes incentives for mortgage services and lenders as well as borrowers. However, mortgage lenders have been slow to participate in the voluntary loan modification program. In the hopes of spurring [...]

Tips for Homeowners Insurance
When you buy a home, you need homeowners insurance. This is insurance that protects your home should something happen. However, it is vital to realize that not all homeowners insurance policies are the same. Generation X Finance has some great insight into some tips that can help you as you shop around for homeowners insurance:

Review [...]

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