Mortgage rates loiter
Mortgage rates have been amazingly low lately. Whenever they linger below 5 percent, you're seeing historically low mortgage rates.
They've been ratcheting up a little today. If your lender hasn't raised rates an eighth of a percentage point, you're getting less bang for the buck with your discount points today.
Still, mortgage rates remain very low. To
Foreclosing on a bank
How dare Warren and Maureen Nyerges foreclose on their bank branch?
You've probably read or seen the story by now: The Nyergeses paid cash in 2009 for a foreclosed house in Naples, Fla. They owned it free and clear. Four months after they bought the house, they received a foreclosure notice. Just a mistake by some
No mortgages for the pregnant?
Who says you can't have a baby and get a mortgage at the same time?
Some lenders and mortgage insurance companies do.
Federal law prohibits housing discrimination in sales, rental, and lending based on a person's sex or familial status. According to HUD, that includes pregnancy. But some companies don't seem to understand that.
Stories of women who
Posted in Mortgages
Tagged HUD, mortgage brokers, Mortgages
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Tell your success story
We want to tell some post-crash real-estate success stories. Need some help.
Have you noticed that the real-estate crash is almost always written about as a bad thing? House prices have been falling for the past five or six years, and everyone acts like it's a calamity. People wouldn't freak out so much if the prices
HAMP NPV website debuts
Two federal government agencies have unveiled a website that allows homeowners who are struggling with their mortgage payments to run their own net present value (NPV) tests.
These calculations, which use dozens of inputs to compute the NPV of a house or condominium, are a crucial test in whether a homeowner will qualify for easier loan
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Tagged HAMP test, loan modification, Mortgages, NPV test
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FHA requirements could change
House Republicans have proposed a bill to "strengthen FHA" by raising the minimum down payment for FHA loans from 3.5 percent to 5 percent.
They also want to prohibit FHA borrowers from financing their closing costs and to lower the limits on FHA loans (FHA's maximum loan limits are already scheduled to fall in October. The
Loan fraud task force created
Victims of mortgage scams have a new cop on the beat in California.
The U.S. Department of Justice and California Attorney General's office have teamed up to create a joint mortgage fraud task force of 25 attorneys and investigators who will monitor, investigate and prosecute both civil and criminal mortgage-related scams and frauds in the state.
Targeted
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Tagged foreclosure scams, loan fraud, mortgage fraud, Mortgages
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Feds offer online HAMP calculator
Why were you turned down for a HAMP modification?
That's the question that the U.S. Treasury aims to answer with an online calculator that was posted yesterday. It also can help answer the question: Will I be approved for a HAMP mod?
The calculator can be found at the dreadful URL CheckMyNPV.com. For search engine friendliness, I'll
Posted in Mortgages
Tagged HAMP, mortgage modification, Mortgages
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