Brent T. White, a University of Arizona law school professor, says that it’s in the homeowners’ best financial interest to stiff their lenders and that it’s not immoral to do so. By Kenneth R. Harney The Los Angeles Times Reporting from Washington – Go ahead. Break the chains. Stop paying on your mortgage if you [...]
Filed under: Consumer Protection, Credit Scores, Economic Recovery, Federal Housing Regulations, FHA loans, Foreclosures and Short Sales, Housing Market Trends, Lending Info, loan modification, Market Update, Mortgage News, Refinancing on February 26th, 2010 | Comments Off
The meltdown sent interest rates soaring and availability shrinking, but rates are declining and lenders are more willing to make loans that top the limits for Freddie Mac, Fannie Mae and the FHA. By E. Scott Reckard The Los Angeles Times Phil Kelly had 18 more months to go before the fixed rate on his [...]
Filed under: Economic Recovery, Home Buying, Housing Market Trends, Jumbo Home Loans, Lending Info, loan modification, Mortgage News, Mortgage Rates, Refinancing on February 24th, 2010 | Comments Off
By Alejandro Lazo The Los Angeles Times But January’s year-over-year increase to $271,500 is a 6.1% drop from December. Total sales climb about 1% from a year earlier. Home sale prices in Southern California showed fresh strength in January, bouncing 8.6% from the same month one year earlier – a period when the market was [...]
Filed under: California Real Estate News, Economic Recovery, Federal Housing Regulations, Foreclosures and Short Sales, Home Buying, Home Prices, Home Selling, Housing Market Trends, Market Update on February 17th, 2010 | Comments Off
By Jim Puzzanghera The Los Angeles Times About 4 million U.S. homeowners are 90 days or more delinquent on their loans or in foreclosure proceedings, Moody’s Economy.com says. A federal loan modification program is helping a relative few. Reporting from Washington – Experts fear that a new wave of foreclosures will hit this year as [...]
Filed under: Economic Recovery, Federal Housing Regulations, Foreclosures and Short Sales, Home Prices, Housing Market Trends, Jumbo Home Loans, Lending Info, loan modification, Mortgage News, National Real Estate News, Problem Solving, Refinancing on February 17th, 2010 | Comments Off
By E. Scott Reckard The Los Angeles Times The average interest has remained just above or just below 5% so far this year, but the end of Federal Reserve mortgage bond purchases is expected to bump up rates about half a percentage point. Average interest rates for traditional 30-year fixed mortgages have fallen below 5% [...]
Filed under: Economic Recovery, Federal Housing Regulations, Home Buying, Home Prices, Lending Info, loan modification, Mortgage News, Mortgage Rates, National Real Estate News, Refinancing on February 17th, 2010 | Comments Off
The average rate on a 30-year fixed mortgage was 5.01% this week, up from 4.98% last week, mortgage company Freddie Mac said. The average rate on 15-year fixed mortgages rose to 4.40% from 4.39%. Five-year adjustable-rate mortgages averaged 4.27%, up from 4.25%. Rates on one-year adjustable-rate mortgages fell to 4.22% from 4.29%. The rates do [...]
Filed under: Economic Recovery, Home Buying, Lending Info, Mortgage News, Mortgage Rates on February 8th, 2010 | Comments Off
Alejandro Lazo The Los Angeles Times The number sold in the state drops 23.8%, for a fourth year of decline in a row. Sales of California homes priced at $1 million or more tumbled for a fourth consecutive year in 2009, according to a report released Thursday. The number of million-dollar-plus homes sold dropped 23.8% [...]
Filed under: California Real Estate News, Economic Recovery, Foreclosures and Short Sales, Home Prices, Home Selling, Housing Market Trends, Jumbo Home Loans, Market Update on February 5th, 2010 | Comments Off
Alejandro Lazo The Los Angeles Times A National Assn. of Realtors gauge of future home purchases increases 1% to 96.6 in December compared with a month earlier. Contracts for home purchases in December eked out a gain over the prior month, according to data out Tuesday, one sign that the U.S. housing market might muddle [...]
Filed under: Economic Recovery, Home Buying, Home Prices, Home Selling, Housing Market Trends, Market Update, National Real Estate News on February 3rd, 2010 | Comments Off
Associated Press Washington – Most banks aren’t erecting new hurdles for people and businesses to get loans, a fresh sign that credit problems are easing. In a quarterly survey released Monday, the Federal Reserve found that “commercial banks generally ceased tightening standards on many loan types” at the end of last year. The one exception: [...]
Filed under: Economic Recovery, Federal Housing Regulations, Foreclosures and Short Sales, Lending Info, Mortgage News, National Real Estate News on February 2nd, 2010 | Comments Off
