Category: Credit

Bums No More, Mortgage Defaulters Good Risks

By Kevin Chiu Homeowners who default on their mortgages and still make good on their other debts like credit cards and car payments aren’t risky consumers to lend to and are bums no longer, according to a new study. The survey was conducted by TransUnion, one of the U.S. largest credit reporting agencies. Among other… Continue reading Bums No More, Mortgage Defaulters Good Risks

Home Sales Forecast to Grow

By Kevin Chiu Home sales, the bread and butter of the U.S. real estate market are forecast to grow by 125,000 to 200,000 additional residential units by the end of 2011 over last year. The increase, projected by Housing Predictor is due to near record low mortgage rates and the lowest home prices in many… Continue reading Home Sales Forecast to Grow

Home Sales Decline Slightly in April

By Kevin Chiu Home sales declined slightly in April, despite favorable home buying conditions, falling just 0.8% to a seasonally adjusted rate of 5.05 million units annually, but are still nearly 13% off the pace of last year when the home buyer tax credit was in effect, according to the National Association of Realtors. Existing… Continue reading Home Sales Decline Slightly in April

Record $1 Billion Real Estate Auction

By Mike Colpitts A leading real estate auction company will put $1-billion in commercial property and notes up for auction, marking a new record for the largest real estate auction in U.S. history. The Las Vegas event illustrates the enormity of the real estate auction business selling-off assets for banks and mortgage service companies handling… Continue reading Record $1 Billion Real Estate Auction

Foreclosure Crisis Triggers S&P Credit Downgrade

By Kevin Chiu Standard and Poor’s long term credit downgrade of the U.S. economy is directly impacted by the foreclosure crisis, which has cost tax payers $148-billion to bail-out Freddie Mac and Fannie Mae so far. But S&P analysts expect “extraordinary official assistance to large players in the U.S. financial sector” to be made to… Continue reading Foreclosure Crisis Triggers S&P Credit Downgrade

Homeowners Protest Paying Credit Cards Before Mortgages

By Mike Colpitts Homeowners are fed-up and they are protesting by the way they are paying their bills. A growing volume of homeowners are paying credit card bills before making payments on their mortgages, according to a new study by Trans Union credit reporting agency. It’s a trend that has been widely reported over the… Continue reading Homeowners Protest Paying Credit Cards Before Mortgages

Questions to Ask on Refinancing a Mortgage

If you are thinking about refinancing your existing mortgage, you may be wondering what refinancing questions to ask your mortgage lender. While there are a number of questions to ask when refinancing, there are a few points you will want to be perfectly clear on before committing to a refinance. Knowing what to ask when… Continue reading Questions to Ask on Refinancing a Mortgage

New U.S. Mortgage System Lost in Wasteland

By Mike Colpitts The new home builders association released a proposal to redesign the U.S. housing finance system, which would eventually wipe-out Freddie Mac and Fannie Mae, the nation’s giant mortgage lenders. The National Association of Home Builders proposal is similar to others that have been offered by industry groups lost in a wasteland for… Continue reading New U.S. Mortgage System Lost in Wasteland

Cash Home Sales Hit Record as Sales Decline

By Mike Colpitts Cash home sales hit a new record high in February as sales declined following three consecutive months of rising sales, according to the National Association of Realtors. Existing home sales dropped 9.6% to a seasonally adjusted annual rate of 4.88-million units from 5.4 million in January. Home buyers paying cash made up… Continue reading Cash Home Sales Hit Record as Sales Decline