Mortgages Blog

Monday, April 2, 2012 5:30 pm
By Judy Martel · Bankrate.com

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

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Monday, April 2, 2012 8:30 am
By Polyana da Costa · Bankrate.com

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.

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Wednesday, March 28, 2012 5:38 pm
By Judy Martel · Bankrate.com

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,

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Tuesday, March 27, 2012 7:41 am
By Judy Martel · Bankrate.com

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,

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Friday, March 23, 2012 11:14 am
By Polyana da Costa · Bankrate.com

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

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Wednesday, March 21, 2012 6:38 pm
By Judy Martel · Bankrate.com

Housing remains a weak spot in the economy, and the numbers this week prove that the recovery is still choppy.

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Tuesday, March 20, 2012 10:21 am
By Judy Martel · Bankrate.com

As mortgage servicer Fannie Mae begins unloading foreclosed properties, Wall Street investors are preparing to buy in bulk. Private equity investors, hedge funds and broker-dealers are interested in purchasing pools of properties that include anywhere from 572 homes in the Atlanta area to 99 in Chicago, the Wall Street Journal reports. In all, 2,500 homes

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Monday, March 19, 2012 5:12 pm
By Polyana da Costa · Bankrate.com

Mortgage rates have been rising nonstop since the end of last week. So if you’re planning on getting a mortgage, you’d better get moving — unless you like living on the edge. Now, I don’t want you to panic. But let me give you the facts so you understand why I’m warning you. The yield on the

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Tags: mortgage, Rates, up
Wednesday, March 14, 2012 5:27 pm
By Judy Martel · Bankrate.com

Homebuyers are out there, but they’re finding fewer homes for sale than they were a year ago, according to the latest data from Realtor.com. In February, the number of homes listed for sale rose a meager 0.5 percent from January, but fell 22 percent from the same time last year. The median time a home

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Tuesday, March 13, 2012 2:15 pm
By Holden Lewis · Bankrate.com

The national mortgage settlement has a potentially ghastly surprise for some who refinance under its terms.

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