Category Archives: Mortgages

Sold! $48 million apartment

Posted on April 11, 2012 by

Who is purchasing the most expensive real estate? Although buyers from around the globe are investing in the downturn in the U.S., the Russians are writing the biggest checks, according to The New York Times.
Since the real estate market crashed four y… Continue reading →

Posted in Mortgages | Tagged , , , , | Comments Off on Sold! $48 million apartment

DeMarco reconsiders loan reduction

Posted on April 10, 2012 by

Has the administration persuaded Fannie Mae and Freddie Mac to help underwater borrowers modify mortgages through partial loan forgiveness?
Not yet. But Ed DeMarco, the Federal Housing Finance Agency’s acting director who oversees the agencies, has gon… Continue reading →

Posted in Mortgages | Tagged , , , | Comments Off on DeMarco reconsiders loan reduction

Mandating fairness or meddling?

Posted on April 10, 2012 by

Do you hear a whining sound in the distance? It’s the mortgage industry, complaining again about government regulation. Continue reading →

Posted in Mortgages | Tagged | Comments Off on Mandating fairness or meddling?

Forced mortgage reductions?

Posted on April 9, 2012 by

There may be a legal obligation for Fannie and Freddie to write down mortgage principal. Continue reading →

Posted in Mortgages | Tagged , , , , , , , | Comments Off on Forced mortgage reductions?

Where are the jobs?

Posted on April 6, 2012 by

Think the economy is recovering because the job market has improved? Think again.
The employment report released today is disappointing, at best. The U.S. economy added only 120,000 jobs in March, half of what it added in February, the Labor Department… Continue reading →

Posted in Mortgages | Tagged , , , | Comments Off on Where are the jobs?

White House focuses on mortgage fix

Posted on April 4, 2012 by

It seems that mortgages, and the housing market in general, are on the front burner for the Obama administration heading into election season. Continue reading →

Posted in Mortgages | Tagged , , , , | Comments Off on White House focuses on mortgage fix

Get a free time share

Posted on April 4, 2012 by

If ever there was a time to reinforce whether a time share is an investment or simply the upfront price for a vacation spot, it’s now.
Owners of time shares, fed up with a dearth of buyers and rising yearly maintenance fees, are giving up and offering … Continue reading →

Posted in Mortgages | Tagged , , , , , , | Comments Off on Get a free time share

Stanley to reimburse borrowers

Posted on April 3, 2012 by

Morgan Stanley must review foreclosures that took place in 2009 and 2010 and reimburse borrowers … Continue reading →

Posted in Mortgages | Tagged , , , | Comments Off on Stanley to reimburse borrowers

Too young for reverse mortgage?

Posted on April 2, 2012 by

Reverse mortgages, available to homeowners age 62 and older, are more appealing to younger borrowers than they were a decade ago, according to a study by MetLife Mature Market Institute.
This type of mortgage allows homeowners to borrow against their h… Continue reading →

Posted in Mortgages | Tagged , , , | Comments Off on Too young for reverse mortgage?

FHA: No loan if you have a collection

Posted on April 2, 2012 by

The FHA is tightening the screws on borrowers again.
Borrowers will be rejected for an FHA mortgage if they have an account over $1,000 in dispute or collection. The new rule went into effect April 1.
If the disputed debt is more than 2 years old, borr… Continue reading →

Posted in Mortgages | Tagged , , , | Comments Off on FHA: No loan if you have a collection