Category: Mortgage

Washington Woman Wins Ugly Contest

A small town Washington state woman has won the first prize in the ugliest room contest sponsored by a website that is putting a whole new face on ugly homes in America. They’re trying their hardest to find the ugliest rooms in the nation, and there doesn’t seem to be any shortage of contestants in… Continue reading Washington Woman Wins Ugly Contest

More than 4.5-Million Homes Refinanced

Home owners in jeopardy of losing their homes or who had mortgages that were unaffordable account for the highest number refinancing as more than 4.5-million mortgage holders carried out refinances over the last five months. The number marks the highest number of mortgage borrowers to get a new mortgage on their property since the foreclosure… Continue reading More than 4.5-Million Homes Refinanced

Mortgage Modifications Surge Higher

By Kevin Chiu Despite rising home foreclosures, mortgage modifications are increasing as a result of government efforts to aid the housing market as some banks demonstrate more willingness to work with mortgage borrowers, a Housing Predictor study has found. More than 2.4-million mortgage modifications have been extended to give homeowners a second chance of staying… Continue reading Mortgage Modifications Surge Higher

Under Water Mortgage Borrowers Rescue on the Way

By Mike Colpitts In a new effort by the Obama administration millions of under-water home mortgage borrowers may be helped. The FHA program will provide refinancing on homes at least 10% under their worth, and could establish a new cornerstone in White House efforts to stem the growing foreclosure epidemic. The program demonstrates a major… Continue reading Under Water Mortgage Borrowers Rescue on the Way

Home Sales Decline Slightly

Sales of existing homes fell slightly in February for the third month in a row, according to the National Association of Realtors. The drop was only 0.6 percent nationally to a seasonally adjusted rate of 5.02-million units. The decline in home sales demonstrates the slowdown in the housing market persists, despite government programs to re-ignite… Continue reading Home Sales Decline Slightly

Mortgage Modifications Improve

Mortgage modifications have resulted in more than one million mortgage borrowers receiving a median savings of $500 a month, according to the Treasury Department. The improvement represents a 36% savings in mortgage costs to home borrowers. The temporary modifications are part of the government’s Home Affordable Modification Program (HAMP), which has been troubled by a… Continue reading Mortgage Modifications Improve

Buying Ugly Houses

“We Buy Ugly Houses” has become the slogan of a franchise company that buys homes in distress. For more than 20 years Home Vestors has been getting homeowners out of trouble on their homes, buying more than 40,000 houses through its network of franchises. But the company best known for its’ television advertising campaigns reaching… Continue reading Buying Ugly Houses

Millions of Homeowners Could Receive Housing Aid

By Mike Colpitts Struggling to keep their housing rescue efforts alive, a senior Obama administration official admitted the administration has more work to do to help the growing number of homeowners at risk of foreclosure before a gathering of state housing finance agency officials in Washington. Michael Barr, the Treasury’s assistant secretary of financial institutions… Continue reading Millions of Homeowners Could Receive Housing Aid

Signs of Improvement

By Kevin Chiu The second home-vacation market, long slowed by the housing crash is showing signs of improvement amid growing buyer interest. It appears a rebound of sorts is developing in many vacation markets. The real first sign of improvement in the second home market developed in Miami, where bargain hunters are picking up some… Continue reading Signs of Improvement