Home owners in jeopardy of losing their homes or who had mortgages that were unaffordable account for the highest number refinancing as more than 4.5-million mortgage holders carried out refinances over the last five months. The number marks the highest number of mortgage borrowers to get a new mortgage on their property since the foreclosure… Continue reading More than 4.5-Million Homes Refinanced
Category: 2010 Housing Market
Mortgage Modifications Surge Higher
By Kevin Chiu Despite rising home foreclosures, mortgage modifications are increasing as a result of government efforts to aid the housing market as some banks demonstrate more willingness to work with mortgage borrowers, a Housing Predictor study has found. More than 2.4-million mortgage modifications have been extended to give homeowners a second chance of staying… Continue reading Mortgage Modifications Surge Higher
Housing Bail Out to Top $2-Trillion
By Cheryl Reams The U.S. government housing rescue program is on target to spend more than $2-trillion on bail out efforts, according to a review of government allocations. The effort marks the largest amount spent on record to aid real estate markets in a downturn, and is intended to help push the economy in the… Continue reading Housing Bail Out to Top $2-Trillion
Fixing America’s Broken Banking System
By Mike Colpitts Beset by a series of frauds, failed accounting practices, lack of proper government oversight, including the failings of law enforcement agencies America’s banking system is broken. At the heart of the massive problem are the nation’s two mammoth mortgage giants, Fannie Mae and Freddie Mac, also known as America’s biggest money pit.… Continue reading Fixing America’s Broken Banking System