Latest News in Mortgages and Home Loans- Dec 15, 2009

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Mortgage Lenders Continue to Struggle
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Mortgage lenders are having a tough time of it right now. Concerns about the housing market are still in effect. Even though November showed an increase in housing starts, and there has been an extension and expansion of the home buyer tax credit, there are still worries about the housing market. [...]

Consumer Protection Bill Passes House
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At the end of last week, even as the news of consumer spending and confidence saw a boost, the House of Representatives passed a consumer protection bill, aimed at reducing the powers of the Federal Reserve, and creating a new agency, the Consumer Financial Protection Agency (CFPA). Of course, before it becomes law, [...]

Economy: Consumer Confidence, November Retail Sales Rise
Image by Getty Images via Daylife
The retail sales numbers are in for November, and the news is showing improvement. Indeed, consumers appear to be ready to open their wallets and start spending again. Consumer confidence is heading higher early on this month as shoppers remain in the holiday mood. The Street reports on the reason [...]

Tax Law Changes for 2010
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It’s time to start thinking about tax time. And while you might be gathering documents and waiting for things like your mortgage interest statement, you should also be aware of some of the changes to tax law for 2010.
David over at My Two Dollars has a list of changes that might affect you. [...]

Watching for Your Mortgage Interest Statement
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It’s never too early to start anticipating and organizing yourself for taxes. And one of the things you want to be on the look out for is your mortgage interest statement. You should be getting this early in 2010 from your mortgage lender or servicer. You will be able to look and see [...]

Refinancing to an ARM?
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ARMs have gotten a bad rep through the most recent mortgage crisis. And there is some reason for this. However, an ARM is not all bad. My parents just refinanced to an ARM, and they are saving big on their monthly mortgage payments. The key is to be smart about it. [...]

Bank of America Plans to Repay TARP Money
One of the biggest things that ordinary Americans have been upset about is the TARP money provided for big banks. As Americans struggle with loan modification, they wonder why it is so easy for big banks — many of which made poor money decisions — to get funding. The good news is, for some banks [...]

HUD Could Tighten FHA Loan Rules
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The Housing and Urban Development secretary Shaun Donovan is expected to tell Congress that the rules for FHA loans need to be tightened. Donovan believes that the FHA will not need more funding help from the government, but he does think that mortgage lenders need to be more accountable when originating FHA loans. [...]

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 [...]

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