Tag Archives: mortgage
BofA offers principal reduction
Bank of America has agreed to provide mortgage relief, including partial loan forgiveness, to more than 200,000 borrowers.
The agreement is part of the $25 billion national mortgage settlement with five of the nation’s biggest lenders that was announce… Continue reading
Jobs situation: Not as bad, not great
The economy added 227,000 new jobs in February, according to a report released this morning. That’s not bad but not as good as January, when 284,000 new jobs were added.
The unemployment rate held steady at 8.3 percent, which is the lowest level it has… Continue reading
FHA fees are going up. Hurry!
A few weeks ago I told you if you wanted to get a Federal Housing Administration mortgage, you should get moving to avoid higher mortgage fees. I hope you didn’t ignore my advice, but if you did, here goes your second chance to save money.
The FHA sa… Continue reading
A Spoc for borrowers is logical
Our Spocs know “the financial situation of the borrowers better than their spouses,” says Mark Atencio, senior vice president for mortgage servicer Green Tree Servicing. “They are that close and interacting that much with the borrower.”
Do you feel t… Continue reading
Make your home work for you
Carrying a mortgage is no easier on America’s middle class, even though home prices have dropped dramatically, according to a new study by Center for Housing Policy.
Nearly a quarter of 45 million households in the study spent more than half their mont… Continue reading
A mortgage deal & schizoid policy
If you are eager to learn the details on the national mortgage settlement that regulators recently announced, your wait may be over in a few days.
I spoke to Laurence Platt, a lawyer at K&L Gates, who is part of the legal team representing one of f… Continue reading
Foreclosure, Beverly Hills style
It’s often said that the rich are different, but maybe not in the way you’d think. They’re suffering foreclosures at a faster clip than the rest of the nation, even though more of them can afford to pay their mortgage.
Reuters news agency compiled fi… Continue reading
Delinquencies and foreclosures drop
The percentage of delinquent mortgages declined and fewer loans were in foreclosure in the last quarter of 2011, says the Mortgage Bankers Association.
About 7.58 percent of outstanding mortgages were past due in the fourth quarter, a decline of 41 bas… Continue reading
Turn your home into a billboard
From the strange-but-true files: Struggling homeowners can find mortgage relief by allowing their home to be turned into a giant billboard. Apparently, 38,000 people are desperate or creative enough to submit their homes as potential advertisements to … Continue reading
Freddie’s dirty game
Have you ever wondered why, despite numerous government programs made to help struggling homeowners, there are still so many obstacles that prevent borrowers from refinancing their loans?
Here is one of many disturbing reasons: Freddie Mac, which owns … Continue reading