Mortgages Blog

There may be a legal obligation for Fannie and Freddie to write down mortgage principal.

Think the economy is recovering because the job market has improved? Think again. The employment report released today is disappointing, at best. The U.S. economy added only 120,000 jobs in March, half of what it added in February, the Labor Department says. After three months of solid employment gains, the latest report shows the economy

It seems that mortgages, and the housing market in general, are on the front burner for the Obama administration heading into election season.

If ever there was a time to reinforce whether a time share is an investment or simply the upfront price for a vacation spot, it’s now. Owners of time shares, fed up with a dearth of buyers and rising yearly maintenance fees, are giving up and offering their units for free or selling them for

Morgan Stanley must review foreclosures that took place in 2009 and 2010 and reimburse borrowers …

Reverse mortgages, available to homeowners age 62 and older, are more appealing to younger borrowers than they were a decade ago, according to a study by MetLife Mature Market Institute. This type of mortgage allows homeowners to borrow against their home equity and receive cash without any payments on the loan being due until the borrower

The FHA is tightening the screws on borrowers again. Borrowers will be rejected for an FHA mortgage if they have an account over $1,000 in dispute or collection. The new rule went into effect April 1. If the disputed debt is more than 2 years old, borrowers won’t have a problem securing an FHA mortgage.

Investors who have been avoiding real estate are getting back in, even embracing one of the tactics that got so many in trouble in the first place: flipping. As the housing crisis drags on and foreclosed properties continue to come onto the market, investors with cash are buying the homes, fixing them up and reselling,

Since the housing market collapsed, rental demand has increased, along with prices. But how much would you pay to live in a premier property? The owners of the tallest residential building in the Western hemisphere, in Lower Manhattan, are betting renters will pay up to $60,000 per month. That’s right: per month. The 76-story building,

Bank of America will offer struggling homeowners a chance to stay in their homes as renters. The bank is starting a pilot program that will offer borrowers facing foreclosure the option to become tenants as soon as they transfer the title of their homes to the lender. The program, called “Mortgage to Lease,” would forgive the