Mortgages Blog

Tuesday, March 13, 2012 8:42 am
By Holden Lewis · Bankrate.com

Watch out if you refinance your mortgage under the terms of the huge mortgage servicing settlement filed Monday.

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Tuesday, March 13, 2012 5:57 am
By Judy Martel · Bankrate.com

Dismantling mortgage giants Fannie Mae and Freddie Mac, which together guarantee approximately three-quarters of all new home loans, is turning out to be a complicated operation. On the one hand, Congress wants to shut down the agencies and get the government out of the mortgage business. On the other hand, it has to be done

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Monday, March 12, 2012 11:08 am
By Polyana da Costa · Bankrate.com

Bank of America has agreed to provide mortgage relief, including partial loan forgiveness, to more than 200,000 borrowers. The agreement is part of the $25 billion national mortgage settlement with five of the nation’s biggest lenders that was announced last month and is expected to be filed today in federal court. A spokesman for the

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Monday, March 12, 2012 9:15 am
By Jay MacDonald · Bankrate.com

Statistically, America may be digging out of the foreclosure quagmire caused by subprime mayhem and the subsequent collapse of the housing bubble …

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Friday, March 9, 2012 10:29 am
By Polyana da Costa · Bankrate.com

The economy added 227,000 new jobs in February, according to a report released this morning. That’s not bad but not as good as January, when 284,000 new jobs were added. The unemployment rate held steady at 8.3 percent, which is the lowest level it has reached in three years. If you are one of the

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Thursday, March 8, 2012 3:25 pm
By Polyana da Costa · Bankrate.com

If you have a mortgage, you know your lender requires you to pay for property insurance until the loan is paid in full. But do you know what happens if your coverage lapses or if at some point the lender decides you don’t have sufficient insurance? The lender buys insurance on your behalf and charges

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Wednesday, March 7, 2012 4:51 pm
By Judy Martel · Bankrate.com

More than 230,000 mortgages began the foreclosure process in January, a 28 percent increase from December.

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Tuesday, March 6, 2012 4:19 pm
By Polyana da Costa · Bankrate.com

The government has made it easier and cheaper for borrowers who have a Federal Housing Administration mortgage to refinance their loans at lower rates through the FHA streamline refinance program. About two million to three million borrowers will be eligible to refinance through the program, according to estimates by the administration. President Barack Obama said

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Monday, March 5, 2012 6:13 pm
By Judy Martel · Bankrate.com

At the beginning of the housing crash, it seemed as though luxury homes might be spared the worst of it. But the latest Standard & Poor’s/Case-Shiller Home Price Indices show that in many metro areas, prices are stabilizing among cheaper homes but still falling in the high-end real estate market. So far, according to Smart

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Thursday, March 1, 2012 2:52 pm
By Polyana da Costa · Bankrate.com

Want to buy a home for half the price? Move to Milwaukee. No? How about Philadelphia or Boston? Bank-owned homes in these three metro areas sold with an average discount of more than 50 percent in the fourth quarter of 2011. That’s compared to the price of nonforeclosure homes that sold during that period, according

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