Six Percent Mortgage Rates by the End of 2010?
Here come the 2010 forecasts… Mortgages rates, which hit an all-time low about a month ago, are slated to rise to six percent by the… Read More »Six Percent Mortgage Rates by the End of 2010?
December 2009
Consumers to be Notified When Credit Score Affects Mortgage Rate
Beginning in 2011 (no, not 2010), consumers will be notified if they receive less favorable terms on their mortgages because of credit imperfections, according to… Read More »Consumers to be Notified When Credit Score Affects Mortgage Rate
Home Retention Acts Up, But Re-Default Rate Awful
A look at loss mitigation and re-default rates via the third quarter 2009 OCC and OTS Mortgage Metrics Report: So-called “home retention acts” (loan modifications,… Read More »Home Retention Acts Up, But Re-Default Rate Awful
Shadow Inventory Estimated at 1.7 Million Properties
The “shadow inventory,” which is the pending supply of homes not included in the official numbers, increased to 1.7 million units as of September, according… Read More »Shadow Inventory Estimated at 1.7 Million Properties
Citi Offers Up Foreclosure Moratorium for the Holidays
CitiMortgage and CitiFinancial North America announced today a nationwide foreclosure moratorium to allow distressed homeowners to stay put during the holiday season. The 30-day suspension… Read More »Citi Offers Up Foreclosure Moratorium for the Holidays
15-Year Fixed Gains in Popularity
With mortgage rates at or near record lows, homeowners are ditching adjustable-rate mortgages in favor of fixed loans, including shorter-term products like the 15-year fixed.… Read More »15-Year Fixed Gains in Popularity
Zillow Adds Rental Listings
Another sign of the times… Zillow announced today that it will now offer rental listings to go along side the millions of homes for sale… Read More »Zillow Adds Rental Listings
SoCal Home Prices End Two Year Slide
Southern California home prices last month were unchanged from a year ago, the first time there hasn’t been a year-over-year decline since September 2007, according… Read More »SoCal Home Prices End Two Year Slide
Bank of America Completes Just 98 Permanent Loan Modifications
Amid all the uproar surrounding the Home Affordable Modification Program (HAMP), it was revealed today that Bank of America completed just 98 permanent loan modifications.… Read More »Bank of America Completes Just 98 Permanent Loan Modifications
Chase Says Making Loan Mods Permanent a Struggle
The Home Affordable Modification Program (HAMP) came under more pressure today after Chase revealed the process has been cumbersome and less successful than its own… Read More »Chase Says Making Loan Mods Permanent a Struggle