Archive for the 'Mortgage' Category

Mortgage rates have never been this low in recorded history (since mortgage rates have been tracked), a testament to the impact the Federal Reserve is having on borrowing and lending in this country. The last few months have been a far cry from the days of 6-8% interest rates in the hey-day of American real estate from 2001 to 2006, before the housing bubble popped so

Many Americans today cannot make their monthly mortgage payments. Additionally, for millions of Americans – approximately 11 million as of 2011 – owing more on their home than it is currently worth is a sad reality. This situation is especially bad considering median home prices are only expected to decrease over the next 6-12 months in most

Buying a new home is still very much part of the American Dream. We, as citizens of the United States, long to have our own home that we can customize without restriction. When you rent a property, you are often unable to paint the walls and do even minor renovations. In comparison, when you have your own home your creation is no longer

The housing crisis and the fallen state of the real estate market has put a crimp on the economy and is weighing it down like an anchor. Depressed home values are depriving people of equity, forcing many underwater, and robbing cities and towns of desperately-needed property tax funds – which all goes into the vicious cycle of an up-and-down

Mortgage defaults are up in some parts of the country, while as a whole, the number of mortgage modifications are down, according to a variety of

The way mortgage companies interact with homeowners facing foreclosure has irked numerous people throughout the nation, from homeowners themselves to bigwigs in Washington who are starting to take a close look at mortgage companies and lenders. Today, federal loan guarantor Fannie Mae announced new rules designed to change the way lenders and homeowners facing foreclosure

In what has become a common theme in the real estate and banking worlds, banking giant J.P. Morgan reported a 67% increase in net income for the first quarter of 2011, up to $5.6 billion from last year’s figure of $3.3 billion.

Foreclosures in Virginia caused housing deflation and yet Delisa Mackey and some of her neighbors in Hampton Roads are losing their homes.

It is a known fact that a lot of Americans are experiencing difficulties particularly due to the mess in the housing industry that has caused home prices to plummet. To make matters worse, the collapse of the financial market has caused the unemployment rate to rise. With such bleak economic outlook, it is not surprising that many distressed homeowners are no longer able to pay their mortgage dues and will be soon entering foreclosure territory.

For a homeowner about to face foreclosure, it is important that communication with the lender is explored and maximized in order to avoid such unfortunate situation. But in many cases, the only time that these distressed homeowners were able to speak with their lenders is during the foreclosure court hearing. For judges in Orlando (Florida), ordering foreclosure mediation seems like the best way to help both lenders and troubled borrowers.

With the new housing legislation expected to provide relief for many troubled homeowners, it is not surprising that lawmakers are urging mortgage lenders to delay foreclosure filings until after the new law has taken effect on October 1.

In order to address the enduring foreclosure crisis, the Senate has passed a mortgage rescue proposal that aims to help distressed homeowners switch to government-backed mortgages under the supervision of the Federal Housing Administration. Based on initial estimates, about 500,000 homeowners will be qualified for such program, which will be worth $300 billion.

For the first time in three years, mortgage rates dropped below 6 percent as recorded at the beginning of the year. Many homeowners took advantage of this and took out new loans to refinance existing ones to avoid foreclosure. For them, it might be the only chance they have to enjoy a cheaper loan and keep their homes.

Milwaukee bank foreclosures are ruffling the feathers of the Wisconsin real estate market. Due to the rising rates in adjustable rate mortgages, more and more people are falling into the trap. There are many more who are taking the adjustable rate mortgages and at the end of the day, it is becoming tougher to pay back the loan. The result: foreclosure homes!

The housing market in the United States is said to be in the throes of a major crisis. Last year, there were more than one million homes that entered foreclosure. Unfortunately, the number of foreclosure homes in the nation is forecasted to double or even triple in the next couple of years. Fingers have been pointing everywhere and no one really knows who is to blame.