Latest News in Mortgages and Home Loans- Dec 01, 2009

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Pressure on Mortgage Lenders Increases for Loan Modification
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One of the programs that President Barack Obama has been pushing to help with foreclosure prevention is the loan modification program. However, there have been several hangups as mortgage servicers and lenders refuse to switch borrowers from their temporary trial loan modifications to more long term arrangements. (Some lenders are [...]

Building Projects in Dubai Put On Hold
It is little surprise that Dubai’s massive building projects have largely been put on hold. Dubai’s immense wealth has been seen as a safe bet for many lenders interested in cashing in on Dubai’s building boom. But that boom may be over soon than anticipated. In a stunning announcement yesterday, Dubai World Conglomerate, which the [...]

Happy Thanksgiving!
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My favorite holiday is Thanksgiving. It is a great time to reflect on what I am thankful for, as well as enjoy my family. We usually have relatives come to our house, and it is always nice to spend time with family, talking and catching up. And, of course, enjoying good food. I [...]

Personal Spending Rose in October
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Whether people were getting an early start on their holiday shopping, or whether some glimmer of confidence is returning, personal spending rose in October. Indeed, even though President Barack Obama warned that a double-dip recession is possible, it is hard to ignore the news on the consumer spending front. People are [...]

25% of Mortgages Underwater
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As the housing market continues to drag its feet toward recovery, there is increasing concern about the number of mortgages underwater. CNN Money reports on the number of homes that are suffering from negative equity:
Almost 10.7 million U.S. mortgages were “underwater” as of September, said research firm First American CoreLogic.
Another 2.3 million homeowners [...]

Homebuilder Stocks Continue to Struggle
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October building starts were markedly down, and homebuilders have been missing earnings marks. The fact that existing home sales surged in October was not much comfort to a housing market that is looking for improvement across a number of areas, especially home building. Even though the broader stock market is up today on [...]

Loan Modification and Your Credit Score
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One of the issues surrounding loan modification is how it could affect a credit score. Many have been concerned about how deciding to go through a loan modification could possibly damage a credit score. This is because there haven’t been a lot guidelines about how to handle credit reporting with regard to loan [...]

Factoring in Interest When Considering the Total Cost of Your Home
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So often, when we look at the purchase price of a home, that is all we see. We look at a home that costs $187,000, and think: “Not bad.” We talk about how much the home cost, and we use that number. However, the total cost of your home is more than just [...]

October Housing Starts Fall; Obama Warns of Double-Dip Recession Possibilities
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After holding relatively steady for months, housing starts fell in October. One of the main reasons for the drop, say many analysts, is the fact that the fate of the first time home buyer tax credit was in doubt. As a result, builders slowed their projects. However, with the extension and [...]

Conflicts Surrounding Bank Reform
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One of the things that has many people steamed right now is the fact that, while personal bankruptcy is on the rise, big banks have been getting special help staying afloat from the taxpayers via the government. These policies started in the Bush Administration, and have continued in the present Obama Administration. However, [...]

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