By Betty Delisle My name is Betty Delisle and I live in New Hampshire. I am self employed and work every day to provide for my family. I bought my first home in October of 2005 and was so excited because I finally had a chance to get off the government programs that I had… Continue reading Open Letter on Foreclosure Mills
Category: Mortgage
Freddie Mac Unloads Foreclosures Paying Closing Costs
By Mike Colpitts Troubled mortgage giant Freddie Mac is making a new effort to unload its bloated inventory of foreclosed homes paying home buyers closing costs. The government backed lender, which has been bailed out by tax payers at a cost of more than $148-billion with its sister lender Fannie Mae is making the offer… Continue reading Freddie Mac Unloads Foreclosures Paying Closing Costs
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
Interest Rates Hit New Low in 2011
By Mike Colpitts Mortgage interest rates hit a new low for the year declining to 4.61% on a 30-year fixed rate loan, a slight 0.02 margin lower from a week earlier, while the rate on a 15-year fixed rate mortgage also dropped to a new low in 2011. The heavily watched Freddie Mac averages have… Continue reading Interest Rates Hit New Low in 2011
Mortgage Rates Shoot Up As Applications Rise
By Kevin Chiu The volume of home mortgage applications for refinancing and purchases rose slightly higher for the week as mortgage rates took an abrupt jump. The rate on a fully executed 30-year fixed rate loan shot up 0.09 for the week, according to the Mortgage Bankers Association survey. Mortgage rates had been on a… Continue reading Mortgage Rates Shoot Up As Applications Rise
Survey Finds Congress Should Force Banks to Modify Mortgages
Congress should force bankers to modify mortgages for homeowners who are in trouble on their home loans instead of foreclosing, a new Housing Predictor survey has found. It’s been a subject of debate since the housing mess started more five years ago in many regions of the country, and especially since foreclosures hit record all-time… Continue reading Survey Finds Congress Should Force Banks to Modify Mortgages
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
Real Estate Brokerage Helping Thousands Monthly
By Mike Colpitts A small real estate brokerage is waging a war against foreclosures, helping thousands of homeowners’ monthly by training real estate agents to coordinate short sales and get troubled homeowners out of their problem plagued mortgages. “We’ve directly assisted tens of thousands of homeowners,” said First Coast Realty Associates broker Mike Linkenauger. “We… Continue reading Real Estate Brokerage Helping Thousands Monthly
Homeowners Move to Fixed Rate Mortgages
By Kevin Chiu Nervous about their financial futures and holding on to their homes, consumers are shedding debt and transitioning to fixed rate mortgages in unprecedented numbers. An over-whelming 95% of refinances were fixed rate mortgages during the first quarter of the year, according to Freddie Mac. Millions of homeowners have been unable to refinance… Continue reading Homeowners Move to Fixed Rate Mortgages
Mortgage Rates Fall Two Weeks
By Mike Colpitts Mortgage rates fell for the second consecutive week as spring time weather gripped most of the nation to provide a boost for the home buying season, according to Freddie Mac. The rate on a fixed rate 30-year mortgage dropped to 4.71% from 4.78% the previous week. The rates on a 15-year fixed… Continue reading Mortgage Rates Fall Two Weeks