Tag Archives: mortgage
Robosigning deal may help
Federal and state regulators are close to reaching a settlement with some of the nation’s largest lenders over their shady foreclosure practices.
What’s in it for borrowers? About one million borrowers could receive mortgage relief in the form of loan … Continue reading
Low rates spur refinancing wave
Applications for mortgages jumped 23 percent last week, largely due to homeowners taking advantage of record-low rates to refinance, according to the Mortgage Bankers Association. The refinance portion of total mortgage activity was 82 percent.
But as … Continue reading
Can QE3 fix housing?
The Federal Reserve may decide at its meeting next week to give another boost to the housing market with a third round of quantitative easing.
Back in 2008, the Fed announced QE1 to keep interest rates low, which involved buying mortgage-backed securi… Continue reading
Forbearance for the jobless
Homeowners who are unemployed and struggling to pay their mortgages may get a break on their mortgage payments for up to a year, says mortgage finance firm Freddie Mac.
Freddie currently allows mortgage servicers to give borrowers three to six months t… Continue reading
Banks offer refinance incentives
If you’re still waiting to refinance, now may the time to snag the best deals. Not only are mortgage rates at near-30-year lows, but applications for refinances are down, prompting some banks to seek ways to encourage homeowners to get off the fence.
T… Continue reading
2012 housing outlook
Fasten your seatbelts for another “bumpy ride” in the housing market next year, says Freddie Mac’s chief economist Frank Nothaft.
The mortgage company, now administered by the government along with Fannie Mae, published its outlook for 2012. While mort… Continue reading
Is now the time to buy?
Is now the time to buy a home? Most prospective homebuyers think so, according to a recent study conducted by Gary V. Engelhardt, a professor at Syracuse University.
Despite high unemployment and slow economic growth, about 80 percent of Americans beli… Continue reading
Internet mortgage scams
Beware when searching on the Internet for ways to modify your mortgage payments. So far, the federal government has shut down more than 200 scam companies that are promising to help struggling homeowners.
In a separate action, search engines have bee… Continue reading
No recovery until 2013?
The cure for the ailing housing market is time, and any signs of sustainable recovery won’t come until 2013, according to a group of economists polled by Reuters.
Attempts to revive the market are being discussed, but the economists believe they’ll do … Continue reading
HARP 2 details emerge
For underwater homeowners who want to refinance their mortgages, the details of HARP 2 are coming into focus.
HARP 2 is a liberalized revision of the Home Affordable Refinance Program. (See Bankrate’s HARP page.) HARP’s goal was to allow homeowners to … Continue reading