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 [...]
December 09 2008 | Homes Mortgages and Loans in the news | No Comments »
Mortgage applications up 112.1% last week, due to drop in rates: MBA – Market… Many borrowers missed an opportunity to take advantage when rates dropped sharply for a brief period when the GSEs were placed under conservatorship,” said Orawin Velz, associate vice president of economic forecasting for the association. GSEs refer … A Rush Into [...]
December 04 2008 | Homes Mortgages and Loans in the news | No Comments »
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 [...]
December 02 2008 | Homes Mortgages and Loans in the news | No Comments »
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 [...]
November 25 2008 | Homes Mortgages and Loans in the news | No Comments »
AIG Gets More from the Government This morning, the big news (aside from a Chinese economic stimulus announcement) is that AIG is getting a new bailout deal. The deal keeps getting better for AIG, with the total package now coming to $150 billion. It seems that it doesn’t matter what AIG does (read: luxury retreat), [...]
November 11 2008 | Homes Mortgages and Loans in the news | No Comments »
JP Morgan Steps Up to the Housing Rescue Plate JP Morgan is stepping up to the housing rescue plate. The company has its own plan for loan modification, and it has been working on helping those at risk for foreclosure work through their problems and get a payment they can afford, hopefully warding off foreclosure. [...]
November 04 2008 | Homes Mortgages and Loans in the news | No Comments »
Scaling Back Mortgage Loan Expectations When my husband and I were looking for a home last year, it was just as the subprime thing was starting to come to light. No crisis, though. Mortgage interest rates were just below 6% and it was still possible to get a home with no down payment. We have [...]
October 28 2008 | Homes Mortgages and Loans in the news | No Comments »
Planning to Refinance? Looking at a Home Mortgage? Maybe You Should Get a Mov… Many people waiting for mortgage rates to drop right now. Indeed, many people think that they should be heading lower soon, what with banks starting — albeit cautiously — to lend to each other again. Additionally, Ben Bernanke is supporting efforts [...]
October 21 2008 | Homes Mortgages and Loans in the news | No Comments »
Paulson Warns Against Banks Hoarding Capital One of the issues that has been contributing to a lack of liquidity in the financial markets is the fact that banks have been rather reluctant to lend to each other. Without banks lending to each other (and businesses and individuals, for that matter), the flow of capital has [...]
October 14 2008 | Homes Mortgages and Loans in the news | No Comments »
Mortgage Woes – BusinessWeek March 24 – With several housing numbers this week pointing to a further decline in real estate, we take the pulse of the mortgage market and the impact of subprime loans on the industry and on anyone looking to refinance or buy a home. We talk with a … Lehman, Merrill [...]
October 09 2008 | Homes Mortgages and Loans in the news | No Comments »
