August 23, 2012 Tags: LINES of credit, MORTGAGES, PERSONAL finance, REAL estate investment, RETIREMENT -- Planning, RETIREMENT income
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The article presents an answer to the dilemma of whether families with young children should contribute to retirement savings or pay down debt, with advice regarding low mortgage rates, financial planning, and employer pension plans.
Read MoreAugust 18, 2012 Tags: MORTGAGES, PENSIONS, RETIREMENT -- Planning
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LOW interest rates are making it easier for homeowners to reduce their mortgage payoff times considerably. Almost a third of those who refinanced in the first quarter cut the duration of their mortgages to 15 or 20 years from 30, according to a recent refinancing report by Freddie Mac. The 31 percent who shortened their terms represented the second-highest level since 2002, when 35 percent took out shorter-term loans, the data showed. In the fourth quarter of 2011, 34 percent had reduced their mortgage terms. The all-time high occurred in 1992, with 42 percent refinancing into shorter mortgages.
Read MoreJune 14, 2012 Tags: HOMEOWNERS, INTEREST rates, LOANS, MORTGAGES
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The article focuses on the financial status of U.S. after recession. The country is still trapped in bad mortgages, lost paperwork and fraudulent foreclosures. The parts of the Eurozone have fallen back into recession as U.S. is trying to recover. A reduction in public spending is required for reducing debt in countries like Ireland, Italy, Spain, Portugal and France which reduces total gross domestic product (GDP) and employment.
Read MoreJune 8, 2012 Tags: EURO area, FINANCE, MORTGAGES, RECESSIONS
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The article reports that Father Robert Rein, went to the Bank of America Corp. in 2009, to withdraw 135,000 dollars from the bank and close the account of the church, to help 2 dozen families struggling with mortgages against 2.3 trillion dollars. It states that the word of divestment spread quickly and the campaign to boost bank accountability gained widespread awareness as hundreds of organizations started working along with the Occupy Wall Street movement.
Read MoreJune 6, 2012 Tags: BANKING industry, CHURCH, DISINVESTMENT, MORTGAGES, OCCUPY Wall Street protest movement
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The article considers how the U.S., Great Britain, and Spain have progressed since 2008 in their efforts to reduce levels of household debt. Between the start of 2009 and mid-2011, debt in the U.S. declined by $584 billion, with defaults accounting for a significant portion of the reductions in mortgage and consumer debts. The authors estimate the U.S. has completed about half of the debt-reduction it must undergo. Conversely, the deleveraging process is still in its early stages in Great Britain, they note, while Spain has made even less progress.
Read MoreFebruary 23, 2012 Tags: 2008-2009, CONSUMER credit, DEBT, DEBT service, FINANCIAL crises, FORECLOSURE, GLOBAL Financial Crisis, GROSS domestic product, MORTGAGES
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With a deadline looming on Monday for state officials to sign onto a landmark multibillion-dollar settlement to address foreclosure abuses, the Obama administration is close to winning support from a crucial state that would significantly expand the breadth of the deal. The biggest remaining holdout, California, has returned to the negotiating table after a four-month absence, a change of heart that could increase the pot for mortgage relief nationwide to $25 billion from $19 billion. [ABSTRACT FROM AUTHOR]
Read MoreFebruary 6, 2012 Tags: DEALS, MORTGAGES, STATE governments -- Officials & employees
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Attorney General Eric T. Schneiderman of New York sued three major banks on Friday, accusing them of fraud in their use of an electronic mortgage database that he said resulted in deceptive and illegal practices, including false documents in foreclosure proceedings. Mr. Schneiderman, co-chairman of a new mortgage crisis unit under President Obama, filed a lawsuit against Bank of America, Wells Fargo and JPMorgan Chase in New York State Supreme Court in Brooklyn. [ABSTRACT FROM AUTHOR]
Read MoreFebruary 4, 2012 Tags: DATABASES, FINANCIAL crises, MORTGAGES
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The article discusses ways to reduce consumer debt. The article examines ways to reduce interest rates on credit cards in order to eliminate credit card balances more quickly, mortgage refinancing through the Home Affordable Refinance Program (HARP), and short sales of properties. Information is also provided on federal and private student loans and managing medical debt through negotiation and financial-aid programs. The article provides a metric which allows consumers to determine if they are carrying too much debt.
Read MoreFebruary 1, 2012 Tags: CONSUMER credit, CREDIT card fees, DEBT, MEDICAL care costs, MORTGAGES, STUDENT loans
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The article focuses on recently enacted U.S. government legislation addressing mortgage lending reform. It is stated that a proper understanding of emotion in mortgage markets is required to determine whether the reform has hit its mark. It is reported that the risk-allocation model assumes that the lender has no incentive to manipulate borrower emotion.
Read MoreFebruary 1, 2012 Tags: MONEYLENDERS, MORTGAGE loans -- Law & legislation, MORTGAGES, SECONDARY mortgage market
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