Mortgages Blog

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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Tuesday, February 14, 2012 8:35 am
By Polyana da Costa · Bankrate.com

If you plan to get an FHA mortgage or want to refinance with an FHA loan, act quickly. A few weeks ago, I told you that mortgages insured by the Federal Housing Administration would get more expensive this year because of recently approved legislation that calls for an increase on FHA’s mortgage insurance premium. At

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Monday, February 13, 2012 5:24 pm
By Judy Martel · Bankrate.com

From the strange-but-true files: Struggling homeowners can find mortgage relief by allowing their home to be turned into a giant billboard. Apparently, 38,000 people are desperate or creative enough to submit their homes as potential advertisements to the marketing company behind this idea, Brainiacs from Mars. The founder of the company, Romeo Mendoza, told Reuters

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Monday, February 13, 2012 10:00 am
By Jay MacDonald · Bankrate.com

The $25 billion federal-state legal settlement with five of the nation’s largest banks over improper foreclosure, messed-up mortgage modifications, robosigning shenanigans and other abuses drew mixed responses from industry groups, economists and consumer advocates. Does the deal put an end to lenders behaving badly or merely let them off the hook with a slap on

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Friday, February 10, 2012 2:29 pm
By Polyana da Costa · Bankrate.com

Since the $25 billion mortgage settlement with five of the nation’s largest banks was announced, borrowers across the nation wonder if or when they will benefit from it. “This historic settlement will provide immediate relief to homeowners, forcing banks to reduce the principal balance on many loans, refinance loans for underwater borrowers, and pay billions

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Wednesday, February 8, 2012 5:04 pm
By Judy Martel · Bankrate.com

Consumer confidence in the economy is rising slightly and so are predictions about home prices. Mortgage company Fannie Mae reports that its January survey showed 30 percent of respondents believe the economy is on the right track, up from 22 percent in December. Respondents also predicted home prices will increase by 1 percent over the

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Monday, February 6, 2012 4:58 pm
By Judy Martel · Bankrate.com

Is President Barack Obama’s latest plan to allow millions more struggling homeowners to refinance their mortgages actually further stalling a housing market recovery? Critics of the proposal, announced last week, say the chief drawback is that it’s setting up a delay in foreclosures, which, in turn, prevents home prices from hitting bottom. Republicans, who believe

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