Reporting from Washington – Here’s a sobering message for anyone who has a federally insured reverse mortgage or plans to apply for one: If you don’t pay your local property taxes or hazard insurance premiums, you should know that the risk of losing your house to foreclosure is about to increase. Although the Federal Housing [...]
Filed under: Economic Recovery, Federal Housing Regulations, FHA loans, Lending Info, Mortgage News, Reverse Mortgages on June 30th, 2010 | Comments Off
Reporting from Washington – Short sales have been the hot solution for financially stressed homeowners and their lenders for the last year, but here’s another potent foreclosure alternative that’s about to take center stage: deeds-in-lieu. Some of the largest mortgage servicers and lenders in the country are gearing up campaigns to reach out to borrowers [...]
Filed under: Consumer Protection, Credit Scores, Economic Recovery, Foreclosures and Short Sales, Lending Info, loan modification, Mortgage News, Problem Solving, Refinancing on June 28th, 2010 | Comments Off
The May increase to $305,000, compared with the same period a year earlier, reflects a shift in sales in the region. Purchases climb 7.2% as buyers rush to take advantage of tax incentives. The Southland’s housing market surged in May with the median home price soaring 22.5% from its year-earlier level as tax incentives for [...]
Filed under: California Real Estate News, Economic Recovery, First-Time Homebuyer Tax Credit, First-Time Homebuyers, Foreclosures and Short Sales, Home Buying, Home Prices, Home Sellers, Home Selling, Housing Market Trends, Local LA Real Estate News, Market Update, Mortgage Rates on June 21st, 2010 | Comments Off
Interest rates on 30-year fixed-rate mortgages fell this week to their lowest level this year and were just barely above their all-time low, Freddie Mac reported Thursday. But demand for loans to purchase houses remains sluggish more than a month after the end of a federal program to stimulate the economy through tax credits for [...]
Filed under: Economic Recovery, Federal Housing Regulations, Home Buying, Lending Info, loan modification, Mortgage News, Mortgage Rates, National Real Estate News, Refinancing on June 11th, 2010 | Comments Off
Reporting from Washington — New research suggests that buyers’ minds are so taxed after they go through the ordeal of finding a house that they often rush into the next step — applying for a loan — and make poor choices. Sometimes they opt for the first choice presented to them without regard to the [...]
Filed under: Consumer Protection, First-Time Homebuyers, Home Buying, Lending Info, Mortgage News, Mortgage Rates on June 11th, 2010 | Comments Off
Thomas Hoenig, head of the Federal Reserve Bank of Kansas City, is pushing for an increase in the benchmark short-term rate to 1%. So far he has found no support within the central bank. Thomas Hoenig, the head of the Federeal Reserve Bank of Kansas City, is cementing his reputation as the best friend of [...]
Filed under: Economic Recovery, Federal Housing Regulations, Home Buying, Lending Info, Mortgage News, Mortgage Rates, National Real Estate News, Refinancing on June 11th, 2010 | Comments Off
