Category: Mortgage

Reality Behind Foreclosures, Mortgage Lenders and Attorneys

By Barbara Ann Jackson Opinion Understandably, it seems that defaulted property owners seek to ‘beat the system’ –a small amount of them do. Not even I am willing to assist in such a thing when those types contact me for help. People in my crowd are not seeking to get a free home, and they… Continue reading Reality Behind Foreclosures, Mortgage Lenders and Attorneys

Mortgage Company Wins Award Going Green

By Mike Colpitts As hundreds of banks and mortgage companies go out of business due to the troubled economy and rough mortgage lending market a Houston, Texas based mortgage company is winning awards, but not for doing a record volume of loans. The company won the Green Originator Award from Mortgage Technology magazine for its… Continue reading Mortgage Company Wins Award Going Green

Mortgage Applications Show Promise with Low Rates

Applications for new mortgages rose for the second consecutive week as applications for new home purchases and refinances moved higher on near record low rates, according to the Mortgage Bankers Association. Purchase applications grew by 3.9% for the week ending Oct. 22, while refinancing rose a more modest 3% over the previous week. The improvement… Continue reading Mortgage Applications Show Promise with Low Rates

Loan Modifications Top 3.7 Million Homes

By Kevin Chiu Mortgage servicers have modified nearly 3.7-million home mortgages since the housing crisis started in 2007, according to a private group of mortgage servicers, investors, mortgage insurers and non-profit counselors. The organization, Hope Now estimates the industry completed almost 150,000 permanent loan modifications during August, the last month for which figures are available.… Continue reading Loan Modifications Top 3.7 Million Homes

Refinance Mortgages at Lowest Rates in Decades

Mortgage rates are near their lowest levels in decades, although they have risen slightly since hitting all time lows in mid-October. The rate on a 30-year fixed rate mortgage hit 4.19%, the lowest since 1951, according to the Federal Housing Administration. A small rise in rates has produced an increase in home refinances, which represents… Continue reading Refinance Mortgages at Lowest Rates in Decades

Mortgage Rate Falls to Historic Low

The 30-year fixed rate mortgage fell again to break the all-time low average, hitting 4.19% down .08 from last week, according to Freddie Mac. The last time rates were this low was in April of 1951, according to the Federal Housing Administration. The 30-year fixed mortgage has been under 5% for 23 straight weeks. The… Continue reading Mortgage Rate Falls to Historic Low

Despite State Tax Credit California Home Sales Decline

By Kevin Chiu Despite a special state home buyer tax credit, sales of homes in California declined more than 17% from a year ago in September, according to San Diego based real estate research firm DataQuick. The median price for a California home is $265,000, which is 5.6% higher for the year. But with a… Continue reading Despite State Tax Credit California Home Sales Decline

Giant Mortgage Lenders to Get $363-Billion in Bailouts

By Mike Colpitts As much as $363-billion in mortgage-backed security purchases may be required to bailout troubled Freddie Mac and Fannie Mae, the government sponsored mortgage giants from growing debt due to the foreclosure crisis, according to a government report made public today. The projection was made by the Federal Housing Finance Agency, the government… Continue reading Giant Mortgage Lenders to Get $363-Billion in Bailouts