Posts Tagged ‘Mortgages’
Bank of America Getting Into the Landlord Business
Bank of America, the nation's second-largest lender, is launching a pilot program this week that will offer a limited number of customers behind on their mortgages to transition from owner to renter.
President Obama Proposes Mortgage Refinances for ‘Responsible Borrowers’
After several largely ineffective programs to help troubled borrowers and after fruitless attempts at budging the hard-line conservator of Fannie Mae and Freddie Mac, President Obama is proposing a brand new refinance program for borrowers who are current on their mortgages, regardless of who owns their loan; the catch is that this one has to go through Congress.
Half of US Mortgages Are Effectively Underwater
Over 50 percent of all mortgaged households in the US are effectively underwater — unable to sell for enough to pay the six percent Realtor's fee and put a down payment on a new home, a mortgage analyst says.
Record Low Mortgage Rates, Rising Pessimism on Housing
If more Americans can save more money by refinancing their mortgages (likely their single largest debt), and more Americans can potentially buy a home, given the low rates, then why are they so pessimistic about housing going forward as well as their personal finances?
Another Federal Housing Bailout Won’t Happen
With home prices still falling, new mortgage delinquencies rising again, millions of mortgages already in the foreclosure pipeline, and consumer confidence in the housing market near nil, President Obama is expected to include some new housing fix in his post-Labor Day speech to the nation on jobs and the economy.
More Borrowers Underwater: Why We Should Care
Falling home prices at the turn of the year pushed more borrowers into a negative equity position, meaning they owe more on their mortgages than their homes are worth. In Q4, 23 percent of borrowers nationwide, or 11.1 million, were holding "underwater" mortgages according to a new survey.
Mortgage Delinquencies ‘Turn a Corner’
Fewer Americans are falling behind on their mortgage payments; in fact, the fewest in two years. Mortgages just one payment past due (30 days) fell to their lowest level since just before the recession began.
Negative Home Equity Surges, Weighing on Housing Recovery
The number of borrowers who owe more on their mortgages than their homes are worth took a huge leap in the fourth quarter of 2010.
Negative Home Equity Is Worse Than You Think
There was a lot of talk last week about how negative equity, now at 22.5 percent of all homes with mortgages, according to CoreLogic, will affect the housing recovery. Then mortgage rates popped up to 5 percent overnight, thanks to the 10-year Treasury, and more folks voiced concern over today's potential home buyer and his or her ability to take advantage of this low-priced housing market.
Principal Writedowns Happen, Just Not Through Government
A Wall Street Journal article Wednesday began, "Fannie Mae and Freddie Mac are in talks with Obama administration officials to join fledgling government programs aimed at reducing loan balances of mortgages where borrowers owe more than their homes are worth." They may be in talks, but the talks clearly aren't going well.
