Archive for November, 2009

More fiddling as foreclosure crisis rages on – Boston Globe


Globe and Mail
More fiddling as foreclosure crisis rages on
Boston Globe
It doesn't take a rocket scientist – or a Nobel winner, for that matter – to figure that one out, with foreclosures set to rise right into 2010.
US Treasury in foreclosure finesBBC News
Treasury sets guidance to simplify "short sales"Reuters
Gov't increases pressure on mortgage industryThe Associated Press
Wall Street Journal -Examiner.com -Los Angeles Times
all 1,368 news articles »

Buckle Up: After 1st Stimulus Failed, the 2nd is on the Way!

Back in February, Obama signed the federal stimulus legislation of $787 billion. It was hailed as a necessary fix for the slumping economy and through the stimulus package President Obama created great expectations among Americans. The bill was finally pushed through because there was this great sense of urgency, implying that without the stimulus package, [...]

WASHINGTON: Up-front fees a tip-off of mortgage scams – TheNewsTribune.com

WASHINGTON: Up-front fees a tip-off of mortgage scams
TheNewsTribune.com
State attorneys general in Idaho and Washington are warning of mortgage foreclosure rescue scams that target homeowners struggling to pay their mortgages by
Kansas attorney general fights to stop mortgage, foreclosure fraudNewton Kansan
Missouri Attorney General Sues Foreclosure ConsultantKansas City infoZine

all 3 news articles »

More federal pressure on mortgage companies – Los Angeles Times


LongIslandPress.com
More federal pressure on mortgage companies
Los Angeles Times
Associated Press Washington – With the foreclosure crisis showing no sign of relenting, the Obama administration will step up pressure on mortgage companies
US Will Push Mortgage Firms to Reduce More Loan PaymentsNew York Times
US Treasury to Push Lenders to Finish More Home ModificationsBloomberg
Obama to push banks on mortgagesCNNMoney.com
Examiner.com -TopNews United States -Reuters
all 273 news articles »

Mortgage Rates Reach Record Lows – FOX Charlotte


FreeRateUpdate.com
Mortgage Rates Reach Record Lows
FOX Charlotte
Mortgage rates dropped to an all-time low this week. Bankrate.com reports the average conforming 30-year fixed mortgage rate fell to 5.00 percent this week.
FHA Mortgage Rates: FHA 30 Year Fixed Mortgage Rate as Low as 4.5%, FHA Rates FreeRateUpdate.com
Rates on 30-year mortgages sink, match record low; The London Stock Exchange Financial News USA (press release)
Mortgage Interest Rates November 28 – Rates Up TodaySubprime Blogger
Washington Post -Los Angeles Times
all 40 news articles »

Falling rents aid homeowners in mortgage trouble – Los Angeles Times


Los Angeles Times
Falling rents aid homeowners in mortgage trouble
Los Angeles Times
Mortgage titan Fannie Mae recently announced a program that would allow homeowners who are foreclosed upon to rent back their properties at market rates.

and more »

Prof backs mortgage walkaways – Boston Herald


New York Times
Prof backs mortgage walkaways
Boston Herald
Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it and don't think you're doing something
Foreclosure Protections for AllNew York Times

all 4 news articles »

Black Friday: Fake Hope to Push Nation Out of the Recession

People have hoped that Black Friday this year would push the nation out of the recession. Despite the sluggish economy, retailers continue to hang their optimistic hats on black Friday shoppers. It turned out that retailers have managed to entice deal-hungry shoppers to come into their stores but in the end, they are disappointed when [...]

The moral dimensions of ditching a mortgage – Washington Post


eCreditDaily.com
The moral dimensions of ditching a mortgage
Washington Post
Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it. Don't think you're doing something
One in Four US Mortgages 'Underwater'The Epoch Times
1 in 4 Borrower's Owe More on Their Mortgage Loans Than Homes are Worth, Says My Bank Tracker Bank News
St. Louis homeowners in better-than-average mortgage shapeSt. Louis Post-Dispatch
Chicago Tribune -Seeking Alpha (blog) -Northern Colorado Business Report
all 149 news articles »

Do Banks Act In Their Own Best Interest? – Atlantic Online


Times Online
Do Banks Act In Their Own Best Interest?
Atlantic Online
That's why in regard to mortgage modifications, I've often asserted that it's silly to imagine that they'll intentionally lose money on mortgages just
Judge Erases Couple's $525000 Mortgage PaymentCNBC
Judge wipes out couple's mortgage after bank's 'repulsive' behaviourTelegraph.co.uk
The $525000 mortgage pardonHousing Wire
Gather.com -istockAnalyst.com (press release) -ABC News
all 48 news articles »