Foreclosure Ban in the Works?
Alarm bells sounded yesterday after it was relieved that the Obama Administration was considering an all-out “foreclosure ban.” But it’s probably a big ado over… Read More »Foreclosure Ban in the Works?
February 2010
67 Percent of Californians Sold Homes Because They Couldn’t Pay the Mortgage
A staggering 67 percent of Californians who sold their homes in 2009 did so because they couldn’t meet their mortgage obligations, according to the California… Read More »67 Percent of Californians Sold Homes Because They Couldn’t Pay the Mortgage
15 Percent of Mortgages Late or in Foreclosure
A record 15.02 percent of all mortgages were at least one payment behind or in foreclosure as of the end of the fourth quarter, according… Read More »15 Percent of Mortgages Late or in Foreclosure
Housing Affordability Ends 2009 Near Record High
Believe it or not, housing affordability ended 2009 near its record-high, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI)… Read More »Housing Affordability Ends 2009 Near Record High
HAMP Permanent Loan Modifications Double
The Home Affordable Modification Program (HAMP) has finally gotten some legs, with permanent loan modifications doubling last month compared to December, according to the Treasury.… Read More »HAMP Permanent Loan Modifications Double
SoCal Median Climbs Over Year Ago Level
Don’t get too excited, but the median price paid for a Southern California home rose above the year-ago level for the second consecutive month in… Read More »SoCal Median Climbs Over Year Ago Level
Former Countrywide Customers to Receive Relief Payments
Former mortgage lender Countrywide Financial is mailing out checks to 2,700 borrowers as part of a settlement with Florida homeowners, according to a press release… Read More »Former Countrywide Customers to Receive Relief Payments
Citi Offers Six Month Stay In Exchange for Keys
Citi announced today that it will let borrowers stay in their homes for six months if they agree to a deed-in-lieu of foreclosure. In exchange… Read More »Citi Offers Six Month Stay In Exchange for Keys
Why Is the APR Lower Than the Mortgage Rate?
If you’ve been shopping mortgage rates lately, you may be wondering why the APR is sometimes lower than the advertised interest rate. It’s typically the… Read More »Why Is the APR Lower Than the Mortgage Rate?
Now Get Rewarded for Simply Paying the Mortgage
A New Jersey-based company has launched an incentive-based program to address the risk of strategic default, which is surely on the rise as a result… Read More »Now Get Rewarded for Simply Paying the Mortgage