Category: States Market

In a government effort to help homeowners who owe more on their mortgages than their homes are currently worth, the Housing and Urban Development Department (HUD) today announced that it is launching a program to aid underwater mortgage holders. A growing segment of Americans are angered over the foreclosure crisis, many of whom have lost… Continue reading FHA Launches Underwater Mortgage Refinancing Program

Can mortgage rates get any lower? That’s the real question homeowners looking at refinancing and home buyers are asking today after rates hit a new low average of 4.49% on a 30-year fixed rate mortgage, according to Fannie Mae. The rate was a slim five-one-hundredths of a percent lower than last week, setting a new… Continue reading Mortgage Rates Drop Even Lower

By Lois A. Vitt, Ph.D. A major principle to keep in mind when considering whether to become an investor in housing is risk tolerance. To answer the question of your risk tolerance level in home investing consider the factual information: Your age, income, experience, savings, future need for cash, and investing time horizon. They are… Continue reading Psychology of Home Investing

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

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

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

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