By Kevin Chiu Mortgage rates surge higher for the fourth consecutive week as Treasuries sold off at the highest level in six months, igniting tempers among many home buyers and homeowners who were waiting to lock-in rates, according to Freddie Mac. Mortgage rates have been particularly volatile as a result of the bond market. Rates… Continue reading Mortgage Rates Surge Higher
Category: Housing Market
Refinance Wave Ends on Higher Mortgage Rates
After four straight weeks of falling loan applications to refinance home mortgages the wave of refinancing has apparently come to an end, according to the Mortgage Bankers Association. It’s the lowest the index has been since last June, demonstrating that most homeowners who wanted to refinance their homes or could qualify to do so have… Continue reading Refinance Wave Ends on Higher Mortgage Rates
Refinancing Traps to Low Mortgage Rates
For three straight weeks mortgage rates jumped from their record lows, according to Freddie Mac. But is it a good time to refinance if you haven’t already caught the low rates? It really depends on what your financial situation and plans for your home are, so you can steer clear of refinancing traps, according to… Continue reading Refinancing Traps to Low Mortgage Rates
4-Million Receive Housing Assistance
By Kevin Chiu More than 750,000 homeowners received assistance through a Housing and Urban Development program funded by the American Recovery and Reinvestment Act (TARP) to prevent them from becoming homeless, according to HUD. The figure brings to more than 4-million families who have been helped through government programs and private bank initiatives to remain… Continue reading 4-Million Receive Housing Assistance
Corporate Rentals to the Rescue
The downturn in the housing market is making it hard for many homeowners to sell, and becoming a landlord isn’t for everyone. In the troubled economy a growing number of homeowners are looking for options to pay the monthly mortgage and corporate rentals could be the answer. Landlords report rising problems with tenants, who can’t… Continue reading Corporate Rentals to the Rescue
Pending Home Sales Surge
Driven by all-time record low mortgage rates, pending home sales surged in October as home buyers sought to take advantage of low interest rates before they rose, according to the National Association of Realtors monthly report. Pending sales, which are usually scheduled to close within a month or two and are still contingent upon inspections… Continue reading Pending Home Sales Surge
Not Home Sweet Home Anymore Fighting Cancer
By Sandra Wiley A “Get Published” Contribution Home Sweet Home has left a bitter taste in my mouth. A huge real estate firm, checked out by the BBB and Arizona Board of Realtors, ruined my life. The protective agencies did not warn me about the billion dollar suit against the fraud that was committed by… Continue reading Not Home Sweet Home Anymore Fighting Cancer
Refinances Drop as Mortgage Rates Rise
Refinances took a sharp drop demonstrating that most of those homeowners who wanted to refinance their mortgages have already done so or are unable to because their homes are too much upside down, according to a new survey from the Mortgage Bankers Association. The refinance index dropped 21.6% during Thanksgiving Day week on an adjusted… Continue reading Refinances Drop as Mortgage Rates Rise
Hard Money Financing Booms as Investors Sue
By Kevin Chiu As a federal judge starts a trial over allegations that New York firms defrauded hard money loan investors of millions of dollars in assets, other hard money lenders are achieving record profits. San Diego, California based Source Capital Funding, Inc. announced it finished closing 42 loans in October and funded nearly $9-million… Continue reading Hard Money Financing Booms as Investors Sue
Foreclosure Victim Turns Consumer Advocate
By Mike Colpitts Overcome by banking fraud and lies by bank and mortgage company employees, Michael Bang became a specialist on foreclosures before authoring a book on how to overcome the fraud of bankers and strategically walk away from a mortgage. As millions of American homeowners face the nightmare of foreclosure and tough economic times… Continue reading Foreclosure Victim Turns Consumer Advocate