Tag Archives: mortgage
Springing forward?
Fits and starts still plague housing, even heading into the spring buying season. Continue reading
$7B homeowners bailout unused
While millions of homeowners struggle to pay their mortgages, more than $7 billion sits, unused … Continue reading
DeMarco reconsiders loan reduction
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
Forced mortgage reductions?
There may be a legal obligation for Fannie and Freddie to write down mortgage principal. Continue reading
Where are the jobs?
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
FHA: No loan if you have a collection
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
BofA: From lender to landlord?
Bank of America will offer struggling homeowners a chance to stay in their homes as renters.
The bank is starting a pilot program that will offer borrowers facing foreclosure the option to become tenants as soon as they transfer the title of their hom… Continue reading
Rates creep up
Mortgage rates have been rising nonstop since the end of last week. So if you’re planning on getting a mortgage, you’d better get moving — unless you like living on the edge.
Now, I don’t want you to panic. But let me give you the facts so you under… Continue reading
A horrifying refi
The national mortgage settlement has a potentially ghastly surprise for some who refinance under its terms. Continue reading
When Fannie and Freddie die
Dismantling mortgage giants Fannie Mae and Freddie Mac, which together guarantee approximately three-quarters of all new home loans, is turning out to be a complicated operation. On the one hand, Congress wants to shut down the agencies and get the gov… Continue reading