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 gone from "no" to "maybe" on the issue. He says the FHFA is conducting a second analysis to determine whether
Posted in Mortgages
Tagged forgiveness, mortgage, Mortgages, principal write-down
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Mandating fairness or meddling?
Do you hear a whining sound in the distance? It's the mortgage industry, complaining again about government regulation.
Forced mortgage reductions?
There may be a legal obligation for Fannie and Freddie to write down mortgage principal.
Posted in Mortgages
Tagged Fannie, Freddie, homeowners, mortgage, Mortgages, principal, reductions, write-downs
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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 says.
After three months of solid employment gains, the latest report shows the economy isn't growing
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Tagged jobs, mortgage, Mortgages, Treasury bonds
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White House focuses on mortgage fix
It seems that mortgages, and the housing market in general, are on the front burner for the Obama administration heading into election season.
Posted in Mortgages
Tagged FHA, modifications, Mortgages, Refinancing, Regulation
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Get a free time share
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 their units for free or selling them for $1.
In
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Tagged buy, investment, Mortgages, sell, shares, time share, vacation
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Stanley to reimburse borrowers
Morgan Stanley must review foreclosures that took place in 2009 and 2010 and reimburse borrowers ...
Posted in Mortgages
Tagged Foreclosure, Mortgages, robo-signing, stanley
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Too young for reverse mortgage?
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 home equity and receive cash without any payments on the loan being due until the borrower dies,
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Tagged home equity, homeowners, Mortgages, reverse mortgage
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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, borrowers won't have a problem securing an FHA mortgage. But unpaid
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Tagged collection, FHA, mortgage, Mortgages
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