Latest News in Refinancing Home Mortgages – Feb 11, 2010

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Woman’s credit frozen after being mistaken for dead – KGO
BOTHEL, WA (KGO) — With interest rates at rock bottom levels, many people are saving money by refinancing their mortgages. But, a strange and disturbing note on a woman’s credit report stopped her from getting the cheaper loan. Usually, if there is …

Viewer Stories: Housing Market Victims – WSB-TV Atlanta
I have two house payments. We put our first home up for sale in May 2007, which we lived in for 10 years prior, we moved to another home in Sept 2007. We have had a few offers, but it appears buyers out there just want something for nothing as well …

6 steps to saving money on refinancing – WPTV
As the economy has dragged, many people are seeking to reduce their monthly financial obligations by paying off pesky second mortgages or refinancing their home loans to a lower interest rate. Some, however, are discovering an unpleasant extra cost …

Smaller banks at risk if commercial real estate falters – USA Today
The Congressional Oversight Panel, created to oversee the government’s bailout fund, is warning that losses on commercial real estate loans could reach $300 billion, potentially wiping out “hundreds more community and midsize banks” and drying up …

Concerns over community banks – Boston Globe
Commercial real estate loans are structured differently from home mortgages … developer has to take out a new loan to finance continued ownership. If the borrower cannot make monthly payments or cannot obtain refinancing, default and foreclosure …

Refinancing house’s mortgage may help with cash flow problems – Dallas Mornin…
Our home is appraised at $851,000. I think we could sell it for much more than that. In 2008, for instance, it was appraised at $1,077,000. As an 18-year-old house, it will soon be in need of significant repairs ? roof, windows, air conditioners …

Bailout panel cites commercial real estate danger – The Sun News
… market gave way to a national collapse of home … residential mortgages, commercial loans are refinanced every three to five years. Between 2010 and 2014, about $1.4 trillion in commercial real estate loans will come due for refinancing, the …

Fannie Mae, Freddie Mac Loan Purchases May Spur ?Wad of Cash? – BusinessWeek
… required adoption of new accounting standards and changing economics? will help speed buyouts, which represent a potential source of mortgage-bond prepayments along with refinancing … changes are forcing all mortgages in Fannie Mae and …

Ex-Indiana player Leary arrested in fraud case – HuskerExtra.com
Investigators have since found at least a dozen cases in which Garretson arranged to refinance mortgages for clients but didn’t pay off the original loans, causing … pay off the existing mortgage with proceeds from the refinancing process.

US foreclosures drop in Jan but more loom-RealtyTrac – The Guardian
… short because of its failure to adequately address negative equity, or “underwater” mortgages. Negative equity has been one of the biggest banes of many homeowners, making many unqualified for home loan refinancing and preventing some from …

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