Mortgages Blog

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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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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