Should we be doing more to help our troops fighting for freedom? Sure seems illegal to have this occur for those serving. Some people take a “strategic default” while others lose their homes defending the rights of the “defaulters.”… Have questions or concerns about this growing problem of military mortgages underwater and being foreclosed upon […]
New News about Foreclosures and Short Sales
The news continues to pour in from around the country on banks foreclosing on more and more homes, and short sales becoming more of a common thing… Questions or comments? Use the comment link below to sound off. Your email address, although needed to post, is NEVER published on this website.
U.S. Home Prices Fall to Pre-Bubble Levels
The drop in home values caused by the mortgage crisis has resulted in at least one positive outcome: Prices have fallen so far and so fast that home affordability is back to pre-housing boom levels, according to a new report. After reaching a peak in late 2005, the ratio of home prices to annual income […]
Have Interest Rates on Mortgages Hit Rock Bottom?
The interest rates on mortgage loans have been moving in a downward direction for the past few years. Recently, the rates even fell below the five percent mark, coming in at about 4.92 percent on average for a 30-year fixed rate loan. This leaves many financial experts and consumers alike wondering if the interest rates […]
Nearly 30% of Mortgages Are Underwater
Home prices dropped 2.6% nationwide during the last three months of 2010, pushing more borrowers underwater, according to a quarterly real estate market survey from Zillow.com. Now 27% of homeowners with mortgages owe more than their homes are worth. That’s up from 23.2% a quarter earlier. That will surely lead to higher foreclosure rates soon. […]
Are 30% Down Mortgages In Our Future?
The top mortgage lender in the country, Wells Fargo, has called for borrowers to come up with 30% down if they want to avoid higher mortgage rates and more restrictive lending tied to the “risk retention” requirements related to the Dodd‐Frank Wall Street Reform and Consumer Protection Act of 2010. Essentially, the government wants to […]
Where Will Mortgage Rates Go This Year?
While the housing market has been a drag on the economy for years now, falling prices and low rates have been great for buyers. But will that trend continue into 2011? Questions or comments about mortgage rates? Just use the comment link below to ask.
Mortgage Refinances May Drop 77% by 2012
Residential mortgage refinances are expected to deteriorate over the next two years due to factors not limited to rising interest rates. Some are predicting that mortgage refinancings, in fact, will fall by 77% by 2012 and drag down the overall market for originations. Total refinances hit about $1 trillion in 2010 and accounted for 69% […]
Free Online Resource Aims to Help Americans Facing Foreclosure
Free online software for the creation of personalized mortgage modification applications under the federal Home Affordable Modification Program (HAMP) and other lender programs is now available from FreeMortgageFix.com. Borrowers can complete an application to modify existing home loans via the site’s user dashboard. According to Jonathan Ende, CEO of FreeMortgageFix.com, “by using our free online […]
How to Get a Mortgage Now
What do mortgage lenders look for when they scrutinize your finances? It all boils down to financial stability and making sure you’re a good credit risk. On your application, you’ll be asked to disclose personal finance information that will help the lender decide whether your finances are stable or precarious at that moment in time. […]
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