Bank of America Bails out Countrywide Mortgage Loan Borrowers Back in July, Bank of America acquired Countrywide — and a pile of debt and subprime mortgages about to go into foreclosure. However, thanks to a settlement reached, mortgage loan borrowers in all 50 states will receive the benefit of Bank of America’s stability and buying [...]
Latest News in Mortgages and Home Loans- Sep 23, 2008
September 23, 2008 By Leave a Comment
Dems: Don?t Forget Homeowners with $700 Billion Bailout Plan The political maneuvers have begun. Rather than just shoving the $700 billion bailout plan through like the Treasury and the rest of the Bush Administration wants, some members of Congress are asking some questions about what the bailout does. Should it just be for Wall Street? [...]
Latest News in Mortgages and Home Loans- Sep 16, 2008
September 16, 2008 By Leave a Comment
Bank of America Buys Merrill Lynch Even as Lehman Brothers files for bankruptcy, Bank of America has turned its sights on Merrill Lynch, buying it out for close to $50 billion. Bank of America has, indeed, created a reputation for itself as a kind of savior, especially since its earlier acquisition of embattled mortgage lender [...]
Latest News in Mortgages and Home Loans- Sep 2, 2008
September 2, 2008 By Leave a Comment
10 First-Time Homebuyer Mistakes (Part 1: Mistakes 6-10) Yesterday, I started a post on 10 first-time homebuyer mistakes, going through items 1-5. Today we’ll be addressing 5 more mistakes that first-time homebuyers make: Lack of vision. Sometimes we think that we have to do everything to make the house “right” immediately after we move in. [...]
Bad Credit But Need A Mortgage ?
March 14, 2008 By Leave a Comment
Bad Credit But Need A Mortgage ? by John Power Bad Credit Mortgage Bad credit mortgage loans are meant especially for the people who are suffering with bad credit. Bad credit mortgages or sub-prime mortgages are becoming more common in today’s challenging credit environment and many of the mortgage lenders are now offering very competitive [...]
Latest News in Mortgages Home Loans – Jan 31, 2008
January 31, 2008 By Leave a Comment
MBIA Posts Biggest Loss, Considers New Capital Plans (Update2) Bloomberg – MBIA is reeling from an expansion out of municipal securities into guaranteeing collateralized debt obligations, which repackage assets such as mortgage bonds and buyout loans into new securities with varying risk. As the value of some CDOs plummet … Merrill Lynch to cut back [...]
Latest News in Mortgages Home Loans – Jan 21, 2008
January 21, 2008 By Leave a Comment
Half a million homeowners miss mortgage payments Times Online – Despite the Bank of England?s quarter point cut in interest rates in December, many homeowners are still struggling to pay off their home loans, according to MoneyExpert.com, a comparison web site. Some mortgage rates have in fact increased since … Northern Rock to Issue Guaranteed [...]
Latest News in Home, Mortgages, and Loans – Dec 17, 2007
December 14, 2007 By Leave a Comment
BBVA Mexico unit places first mortgage-backed debt Reuters – Last: MEXICO CITY, Dec 17 (Reuters) – The Mexican arm of Spain’s BBVA bank plans to pass $250 million worth of home loans to investors within the next few days, its first mortgage-backed debt issue in the country’s fast-growing housing industry. BBVA … Delta Financial becomes [...]
Latest News in Home, Mortgages, and Loans – Dec 7, 2007
December 7, 2007 By Leave a Comment
US SWAPS-Spreads swell on solid data, mortgage hedging Reuters – The recent safe-haven rally in Treasuries made home loans less valuable because lower yields, benchmarks for most U.S. mortgage rates, lead to faster mortgage prepayments. As a result, mortgage companies would not have collected all the interest … Offer: Lousy credit? Buy somebody else’s Los [...]
