Fed up with bankers refusing to negotiate on their mortgages, homeowners are walking away from their homes in rapidly increasing numbers whether they can afford the mortgage or not. A new Housing Predictor survey culled from a sampling of more than fifty counties in 25 U.S. states has determined that homeowners who are upside down… Continue reading Mortgage Walk-aways Growing Anger
Category: Mortgage
Countrywide Record Settlement Covers Only Stock Holders
By Kevin Chiu Countrywide Home Mortgage has agreed to pay $600-million to investors in the largest settlement yet in the mortgage meltdown, but the settlement does nothing to answer a series of class action lawsuits filed against the company by mortgage holders. Countrywide was the nation’s largest mortgage company before encountering problems with its series… Continue reading Countrywide Record Settlement Covers Only Stock Holders
Mortgage Applications Rise Third Straight Week
Driven by an increase in government backed mortgages, applications for home purchases rose for the third straight week, the Mortgage Bankers Association said in its weekly survey. The seasonally adjusted purchase index increased 1.5% for the week ending July 30 th. The Market Composite Index, which measures all mortgage application types, also increased a slight… Continue reading Mortgage Applications Rise Third Straight Week
Tax Credit Again, Poll Says
Nearly a majority of respondents to the latest Housing Predictor poll want the federal government to re-institute the federal tax credit for buyers to re-energize the housing market, which has been in as long as a five year downturn in some parts of the country. The new survey found that 48% of all those polled… Continue reading Tax Credit Again, Poll Says
No Surprises in Housing Depression
The evidence is piling up and it’s almost amazing to see that the mainstream media, which regurgitates Washington, D.C. propaganda daily, is almost coming around. There are no surprises in government data points and the National Association of Realtors Association pending home index showing that home sales are falling miserably. It all shows that the… Continue reading No Surprises in Housing Depression
Warning Signs the House Next Door is a Meth Lab
When Arkansas retiree Franklin Huff stepped onto his front porch with his morning coffee and a newspaper, he didn’t plan to break up a meth ring, especially one operating close to the home he’d lived in for more than 20 years in his own affluent neighborhood. “I noticed black smoke pouring from the chimney, and… Continue reading Warning Signs the House Next Door is a Meth Lab
Mortgage Rates Strike New Record Low
Mortgage rates hit a new record low for the week at 4.54%, according to Freddie Mac down from 4.56% last week as lenders try to attract more home buyers back to the market. The rate for a 30-year fixed rate mortgage was 5.25% a year ago. Rates have been tracked by Freddie Mac since 1971.… Continue reading Mortgage Rates Strike New Record Low
Mortgages Applications Decline as Refinances Slow
Despite record low interest rates, mortgage applications declined for the first time in weeks last week, including an unexpected slow down in applications for home refinances, the Mortgage Bankers Association said. Applications declined 4.4% on a seasonally adjusted basis from a week ago, and a whopping 5.9% on refinancing alone. The decline marks a slowdown… Continue reading Mortgages Applications Decline as Refinances Slow
Mortgage Rate Record Lows
Mortgage rates dipped a marginal one-hundredth of one percent, averaging 4.56% on a 30 year fixed rate loan for the week, the lowest since records have been kept, according to Freddie Mac. The decline for the third straight week marks a weakening in consumer confidence over the economy and housing. Home builder confidence is also… Continue reading Mortgage Rate Record Lows
Mortgage Applications Rise
Applications for home mortgages and refinances are soaring higher, showing an increase in activity in home sales and refinancing as a result of near record low loan rates, according to the Mortgage Bankers Association. Low rates coupled with lower home prices are producing the rise in applications. The volume of home re-sales, however, scheduled to… Continue reading Mortgage Applications Rise