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 [...]
Latest News in Refinancing Home Mortgages – Dec 04, 2008
December 4, 2008 By Leave a Comment
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 [...]
Latest News in Mortgages and Home Loans- Dec 02, 2008
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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 [...]
Latest News in Mortgages and Home Loans- Nov 25, 2008
November 25, 2008 By Leave a Comment
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 [...]
Latest News in Mortgages and Home Loans – Nov 11, 2008
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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), [...]
Latest News in Mortgages and Home Loans- Nov 4, 2008
November 4, 2008 By Leave a Comment
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. [...]
Latest News in Mortgages and Home Loans- Oct 28, 2008
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Latest News in Mortgages and Home Loans- Oct 21, 2008
October 21, 2008 By Leave a Comment
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 [...]
Latest News in Mortgages and Home Loans- Oct 14, 2008
October 14, 2008 By Leave a Comment
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 [...]
Latest News in Refinancing Home Mortgages – Oct 9, 2008
October 9, 2008 By Leave a Comment
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 [...]
