Latest News in Mortgages and Home Loans- Dec 09, 2008

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Loan Modification Only Delaying the Inevitable for Some Homeowners
Back at the beginning of the year, loan modification was hailed as the way to help troubled homeowners deal avoid foreclosure. Turns out that in many cases, loan modification only helps delay the inevitable. CNN Money reports on foreclosures:
Some 53% of borrowers with loans modified in the first three months of 2008 and 51% of […]

Can Fractional Ownership Help Ease Foreclosures?
There are a number of interesting ideas out there that might help ease foreclosures. Most of them are not really being considered by the government. The government is thinking more in terms of forcing interest rates down and trying to help banks feel good about loan modification. Oh, and bailouts that are supposed to increase […]

Could Lower Mortgage Interest Rates Mean a Housing Market Bottom?
One of the big issues right now is that mortgage interest rates have been higher than they should be. With the credit market crisis causing wariness on the part of mortgage lenders, interest rates have been somewhat high. Now, though, there is a plan to try and get mortgage interest rates down. Mortgage News Daily […]

Sheila Bair Encouraged by Barack Obama?s Foreclosure Ideas
The chairperson of the FDIC, Sheila Bair, has been pushing an aggressive plan, modeled off of what was tried when IndyMac went under, to help stop foreclosures. Her efforts, though, have been running into opposition from the Treasury Secretary, Henry Paulson, as well as other prominent members of the Bush Administration. The current administration seems […]

Mortgage Market News: Fannie Mae, Bush Administration
It’s a busy Monday morning in the world of mortgage market news. One of the big pieces of news comes from Fannie Mae (and other mortgage lenders). The other piece of news is rather damning evidence that the Bush Administration was pretty well aware of what was coming in terms of the mortgage market crisis. […]

Federal Neighborhood Stabilization Program Aims to Prevent Foreclosures
There have been a lot of programs and plans announced over the past year or so meant to prevent foreclosures and stop their effect on the economy. One of the latest programs is one introduced as the Neighborhood Stabilization Program. This program is rolled out on the federal level, and aims to target areas that […]

Happy Thanksgiving from the Bank.com Mortgage Blog!
Just wanted to take the time to, on behalf of the Banks.com Mortgage Blog, wish you all a very:
Happy Thanksgiving!
I’ve come to the conclusion that Thanksgiving is, in fact, my favorite holiday. I was pondering this when my husband asked me, “If Christmas isn’t your favorite holiday, what is?” And I realized that, even though […]

Mortgage Market News: Applications Up
Mortgage applications rose last week, thanks to an increase in those looking to refinance or buy. However, even though the Mortgage Bankers Association reports that overall mortgage applications are up, the specifics are less encouraging. Mortgage applications are still down as compared to this time last year, and fixed rate mortgage applications were down.
ARMs looking […]

Federal Reserve Acts to Send Mortgage Rates Lower
This morning, the Federal Reserve announced a plan specifically designed to send mortgage loan interest rates lower. Right now, mortgage rates are higher than they should be, and that is discouraging some buyers. The new program initiated by the Fed will include directly buying housing-related and mortgage-related obligations from Freddie Mac and Fannie Mae, as […]

National Association of Homebuilders Wants its Own Stimulus Package
With all the largess flowing from Washington, it’s starting to become difficult in terms of figuring out where money is going (no one’s worried about where it’s coming from, at any rate). And I know everyone’s all about the Citi bailout this morning, but another stimulus may be on the way. This one may have […]

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