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
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
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
Alejandro Lazo The Los Angeles Times Sales of previously owned houses fell 17% in December, raising fears about recovery Sales of previously owned homes nationwide plunged steeply in December, raising concerns that the housing recovery could lose steam after government policies intended to support it expire in the spring. For now, California appears to be [...]
Filed under: California Real Estate News, Economic Recovery, Federal Housing Regulations, First-Time Homebuyer Tax Credit, Foreclosures and Short Sales, Home Selling, Housing Market Trends, Market Update, Mortgage News, Mortgage Rates, National Real Estate News on January 27th, 2010 | Comments Off
Mary Ellen Podmolik The Los Angeles Times The Federal Housing Administration will raise mortgage insurance premiums, update requirements for so-called FICO credit scores and down payments for new home buyers and take other measures designed to shore up the agency’s low capital reserves. The FHA, which insures mortgages, also will reduce allowable seller concessions to [...]
Filed under: Credit Scores, Federal Housing Regulations, FHA loans, Home Buying, Lending Info, Mortgage Insurance, Mortgage News on January 20th, 2010 | Comments Off
