May 14, 2012 Tags: ECONOMIC policy, MORTGAGE loans, MORTGAGE rates, REAL estate business
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The article reports that banks including Citigroup, Bank of America, and Wells Fargo agreed to refinance mortgages for some owners whose loan is bigger than the value of their home and provides information on some criteria which could be used to determine who qualifies.
Read MoreApril 1, 2012 Tags: MORTGAGE loans, REFINANCING
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The article points out that mortgage payments do not constitute continuing violations that can extend the limitations period under the Continuing Violations Doctrine when applied to claims arising from infractions against the Fair Housing Act. Presented as bases for analysis are several cases which include the Havens Realty v. Coleman, Garcia v. Brockaway, Kimbrew v. Fremont Reorganization and Ramirez v. Greenpoint Mortgage Funding Inc. Also cited is the Lilly Ledbetter Pay Act of 2009.
Read MoreFebruary 19, 2012 Tags: CONTINUING violation doctrine (Law), DISCRIMINATION in housing -- Law & legislation, MORTGAGE loans
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As state and federal authorities announced the details of their $26 billion mortgage settlement with big banks on Thursday, millions of American homeowners were hoping that this time they would finally get relief. Some, like Jessica Cooper of Toledo, Ohio, will discover the program’s limitations. [ABSTRACT FROM AUTHOR]
Read MoreFebruary 10, 2012 Tags: BANKING industry, COMPROMISE (Law), GOVERNMENT agencies, HOMEOWNERS, MORTGAGE loans
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Although home foreclosure rates appear to be stabilizing and unemployment is slowly coming down, there are still millions of jobless borrowers who are at risk of losing their homes because they cannot afford their monthly payments. Freddie Mac and Fannie Mae, the government-sponsored housing finance companies that represent approximately half of all mortgages, have announced plans to extend their existing programs so that unemployed borrowers can defer part or all of their monthly payments for up to 12 months while they are out of work. [ABSTRACT FROM AUTHOR]
Read MoreJanuary 12, 2012 Tags: HOME, HOUSING -- Finance, MORTGAGE loans, PAYMENT, UNEMPLOYED, UNEMPLOYMENT
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The article focuses on a federal home loan modification program being offered in the U.S. It cites the case of Kimberly Whithead, who was able to avail the Home Affordable Modification Program (HAM) which prevented her foreclosed one-bedroom condominium in Atlanta, Georgia from being auctioned off. Tips to improve chances of getting approved for a home loan modification are offered.
Read MoreNovember 1, 2011 Tags: AUCTIONS, MORTGAGE loans, MORTGAGES
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The average rate for a conventional, 30-year fixed-rate mortgage fell below 4 percent for the first time on record, according to Freddie Mac’s weekly market survey that came out on Thursday. While that is good news for anyone who wants to buy a house or refinance an existing mortgage, Freddie Mac’s chief economist, Frank Nothaft, noted in a prepared statement that the decline reflected worries about the global economy. [ABSTRACT FROM AUTHOR]
Read MoreOctober 8, 2011 Tags: ECONOMISTS, INTEREST rates, MARKET surveys, MORTGAGE loans
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The cover story article offers reasons why the economic slowdown can be a positive thing and offers options for managing money and investments during the economic slowdown. The positive results of the slowdown are the lower price of stocks, the lower interest rates on mortgages and other loans, and the low home prices. The authors of the article advise consumers to rebalance money portfolios by buying equities that give dividends, refinancing home mortgages to lower rates, and investing in real estate property. The article includes a graph showing how the average five-year auto loan rates have declined and that households are in better shape to borrow in 2011 than in the financial crisis of 2007 – 2008.
Read MoreOctober 1, 2011 Tags: HOME ownership, HOUSE buying, INTEREST rates, INVESTMENTS, LOANS, MORTGAGE loans, MORTGAGE rates, RECESSIONS, SECURITIES, STOCKS (Finance) -- Prices
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HOMEOWNERS looking to refinance their mortgage will need to compare interest rates, loan terms and fees, but some who live in New York may also want to arrange for what’s known as a mortgage assignment, when the balance on the loan is transferred to the new lender from the old. Not all lenders permit such transfers, but if both do, borrowers can skip paying a second helping of mortgage recording taxes (they paid the first round when they bought the home). [ABSTRACT FROM AUTHOR]
Read MoreSeptember 18, 2011 Tags: HOMEOWNERS, INTEREST rates, LOANS, MORTGAGE loans, TAXATION
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WHEN deciding to refinance a home, some people look first at the new monthly mortgage payment and the money they might save, while others focus on the interest rate. Fifteen-year mortgage rates certainly look enticing these days, and the idea of owning a home, debt-free, in less time than it takes to raise a child, sounds grand. So what’s the catch? [ABSTRACT FROM AUTHOR]
Read MoreAugust 21, 2011 Tags: BANK loans, HOUSING -- Finance, INTEREST rates, MORTGAGE banks, MORTGAGE loans, MORTGAGE rates, REFINANCING
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