Mortgages Blog

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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Friday, February 17, 2012 9:26 am
By Polyana da Costa · Bankrate.com

The percentage of delinquent mortgages declined and fewer loans were in foreclosure in the last quarter of 2011, says the Mortgage Bankers Association. About 7.58 percent of outstanding mortgages were past due in the fourth quarter, a decline of 41 basis points on the seasonally adjusted delinquent rate. When compared to the first quarter of

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Thursday, February 16, 2012 5:44 pm
By Judy Martel · Bankrate.com

Home builder confidence in new, single-family homes soared to its highest point in four years, according to the National Association of Home Builder’s survey. But it’s still well below what’s considered positive. The monthly index on builder sentiment rose 4 points to 29, its highest point since 2007. Fifty is the point between positive and

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Thursday, February 16, 2012 1:46 pm
By MikeCox · Bankrate.com

Did you know February is National Weddings Month? In honor of this occasion, I thought it would be a good idea to talk about how all that wedding cash can be used for the best gift: a home of your own. The good news is you can use all that money your friends and family

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Wednesday, February 15, 2012 5:06 pm
By Polyana da Costa · Bankrate.com

Members of the military who were victims of wrongful foreclosures will receive substantial compensation from their mortgage servicers. The U.S. Department of Justice has reached an agreement with four large lenders — JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — to provide “any service member who was a victim of a wrongful foreclosure a

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