Mortgages Blog

Thursday, March 1, 2012 9:30 am
By Polyana da Costa · Bankrate.com

A few weeks ago I told you if you wanted to get a Federal Housing Administration mortgage, you should get moving to avoid higher mortgage fees. I hope you didn’t ignore my advice, but if you did, here goes your second chance to save money. The FHA says that on April 1, it will increase

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Wednesday, February 29, 2012 2:41 pm
By Judy Martel · Bankrate.com

Beginning April 1, borrowers will pay more for upfront mortgage insurance from the Federal Housing Administration, or FHA. Fees were last raised in April 2011 and are at the highest in the FHA’s history. Premiums for the insurance will rise from 1 percent to 1.75 percent of the base loan. The FHA estimates the increase

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Tuesday, February 28, 2012 4:10 pm
By Polyana da Costa · Bankrate.com

Our Spocs know “the financial situation of  the borrowers better than their spouses,” says Mark Atencio, senior vice president for mortgage servicer Green Tree Servicing. “They are that close and interacting that much with the borrower.” Do you feel that close to your Spoc? I guess I need to tell you who Spoc is. A

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Monday, February 27, 2012 5:51 pm
By Judy Martel · Bankrate.com

Carrying a mortgage is no easier on America’s middle class, even though home prices have dropped dramatically, according to a new study by Center for Housing Policy. Nearly a quarter of 45 million households in the study spent more than half their monthly budget on housing costs in 2010. The author of the study, Laura

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Monday, February 27, 2012 10:00 am
By Jay MacDonald · Bankrate.com

While state attorneys general and lawyers for five of America’s largest banks basked in the spotlight of their $25 billion federal-state legal settlement over botched mortgage modifications and bungled foreclosures, a troubling report on recent foreclosure fraud quietly slipped under the public radar. The San Francisco county audit that examined about 400 county foreclosure sales between

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Friday, February 24, 2012 8:30 am
By Polyana da Costa · Bankrate.com

If you are eager to learn the details on the national mortgage settlement that regulators recently announced, your wait may be over in a few days. I spoke to Laurence Platt, a lawyer at K&L Gates, who is part of the legal team representing one of five banks in the settlement.  The team is in

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Thursday, February 23, 2012 9:51 am
By Polyana da Costa · Bankrate.com

Expect to see a new wave of short sales in 2012 — if all goes as planned. The powers that be are on a mission to make short sales more attractive to lenders and borrowers. Fannie Mae and Freddie Mac — which guarantee or own more than half of the outstanding mortgages in the United

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Wednesday, February 22, 2012 6:34 pm
By Judy Martel · Bankrate.com

The housing market is showing signs of life and that’s sparking a renewed interest in bonds backed by subprime mortgages. Wednesday, the National Association of Realtors reported that existing-home sales increased 4.3 percent in January from a month earlier, the highest level since May 2010. In 2011, home sales increased 1.7 percent from 2010. The

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Wednesday, February 22, 2012 12:14 pm
By Polyana da Costa · Bankrate.com

Lenders can’t foreclose on your home if your mortgage is naked. That’s what the court told Fannie Mae when it sided with a Massachusetts homeowner who was close to being evicted from her home. Yes, we can foreclose on naked mortgages, Fannie and loan servicer Green Tree Servicing say in court documents. The ultimate decision

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Tuesday, February 21, 2012 7:59 am
By Judy Martel · Bankrate.com

It’s often said that the rich are different, but maybe not in the way you’d think. They’re suffering foreclosures at a faster clip than the rest of the nation, even though more of them can afford to pay their mortgage. Reuters  news agency compiled figures from RealtyTrac and found that 180 homes In tony Beverly

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