Fourteen mortgage banks and two mortgage-related firms were issued enforcement orders by the Federal Reserve Board and the Office of Thrift Supervision to audit their policies and practices on mortgage loans and…
Tag: mortgage
Drops in Foreclosures and Mortgage Delinquencies Among Pluses in HUD Report
The continued decline in foreclosure actions and the year-over-year drop in mortgage delinquencies are just two of the positives in the housing market report released by the HUD for the month of…
Freddie Borrowers Refinancing Into Fixed Rate Mortgages
Nearly all Freddie Mac-backed mortgage borrowers who refinanced their loans in previous quarters have chosen to shift from adjustable-rate to fixed-rate mortgages or to remain users of fixed-rate loans. In the third…
Checklist for Documents You Need When Applying for a Loan
Gathering and organizing your financial documents before applying for a home loan benefit you in many ways. As you gather your data, you’ll see things you probably haven’t considered before, such as…
Discount Points — How Do They Help You as Homebuyer?
Discount points in mortgage are used to reduce interest rate. You purchase these points directly from your lender and you pay them at closing. Many lenders don’t incorporate points when they advertise…
Home Buying Tips from Experienced Realtors
If you’re feeling unsure about buying a home now, you’re not alone. As headlines proclaim foreclosures, unemployment and an unstable economy, it’s natural that you have some hesitation about pursuing your dream…
Florida Bank-Owned Homes Surged in Number before Foreclosure Freeze
Despite efforts to help distressed homeowners, more homes in Florida became bank owned in September and in the July to September quarter compared to previous periods. Even the suspension of foreclosures by…
Emergency Homeowner Loan Program for Residents of 32 States
If you’re a distressed homeowner living in the 32 states that did not receive any money from the Hardest Hit Fund established in February, then you might qualify for the Emergency Homeowner…
Are Your Parents Asking You About Reverse Mortgage?
Different families have different parent-child relationship dynamics. Some parents don’t feel the need to inform their adult children about decisions that could impact their children in the future while others see to…
Foreclosure Paperwork Problem — What Does It Mean to Homeowners?
One of the country’s largest banks, J.P. Morgan Chase, has just announced that it will suspend foreclosures in 23 states where there are a lot of troubled homeowners fighting court-ordered evictions with…