Archive for February, 2010
It wasn’t all that long ago that a busboy could walk into a mortgage lender, say he made $100,000 per year and get a home loan based on that number.
The loan programs that were available had all different kinds of names, but they all pretty much did the same thing — allow people to get [...]
The percentage of mortgage loans that were delinquent at the end of the fourth quarter 2009 fell to a seasonally adjusted rate of 9.47% from 9.64% the previous quarter, according to the Mortgage Bankers Association (MBA). The data seem to indicate that fewer homeowners are getting behind on mortgage loan payments.
Included in the figure are loans that [...]
Here is the first thing like this I have seen – but possibly not the last:
Approximately 2,700 homeowners who had a loan with Countrywide are getting a check for just over$6,000 and total almost $17 million as a result of a settlement with the Florida Attorney Generals office.
According to the Florida Attorney Generals announcement:
Attorney General [...]
By now, hopefully everyone knows that mortgage rates are not determined by the Federal Funds rate – they are determined by the market of buying and selling mortgage bonds.
If you still think that Ben Bernanke sets the mortgage rates by announcing the Fed has raised or lowered interest rates… sorry to break your heart, but [...]
One of the major elements of most divorce cases involves the division of assets between the husband and wife and in some cases a divorce appraisal will be required. In other cases there is a need to liquidate assets to distribute the cash proceeds from the sale to each party in a divorce case.
Click here [...]
When house prices drop, falling values have ripple effects on the economy. Jobs are lost, credit becomes difficult to obtain and people are forced to make tough decisions regarding what monthly bills they can afford to pay.
And increasingly, it appears as if many people are opting to not pay their mortgage — whether by choice [...]
Home builders are cutting prices on new homes to entice buyers. New construction accounted for 7.6% of home purchases last year, down from an average of about 16% over the past 20 years, according to an article in the Wall Street Journal.
Home builders have been hit hard by the recession as many people looking to buy homes have [...]