Mortgages Blog

Friday, January 13, 2012 4:29 pm
By Holden Lewis · Bankrate.com

In February 2007, the subprime meltdown began. Two months before that, members of the Federal Open Market Committee were laughing about borrowers who were having trouble qualifying for mortgages. Sandra Pianalto, president of the Cleveland Federal Reserve Bank, told her fellow Fedsters during the Dec. 12, 2006, FOMC meeting that she had heard that a

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Tags: Mortgages
Friday, January 13, 2012 9:46 am
By Polyana da Costa · Bankrate.com

If you plan to unload your home through a short sale, get moving. 2012 may be your last chance to sell a home that is worth less than what you owe without having to face tax consequences. When lenders approve a short sale, the difference between the sale price and what is owed on the

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Thursday, January 12, 2012 5:10 pm
By Judy Martel · Bankrate.com

Foreclosure filings hit a four-year low in 2011, but not entirely for the reasons you’d hope. It wasn’t that more people are able to avoid foreclosure, but due, in part, to a processing backlog resulting from the accusations that banks pushed robosigning as a way to get distressed properties through the pipeline quickly without reviewing the

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Tuesday, January 10, 2012 12:31 pm
By Polyana da Costa · Bankrate.com

Homeowners who are unemployed and struggling to pay their mortgages may get a break on their mortgage payments for up to a year, says mortgage finance firm Freddie Mac. Freddie currently allows mortgage servicers to give borrowers three to six months to get back on their feet when they are out of work. Starting Feb.

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Monday, January 9, 2012 5:52 pm
By Judy Martel · Bankrate.com

A bulging pipeline is prompting the Obama administration to implement its plan to sell foreclosed properties in bulk to investors who will rent them out, potentially solving the problem of hundreds of thousands of vacant homes dragging down home values. According to CNBNC, the administration is close to announcing the pilot program, which is being

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Friday, January 6, 2012 11:35 am
By Holden Lewis · Bankrate.com

We got relatively good news from the December employment report, released today by the Bureau of Labor Statistics. But it had little immediate effect on the mortgage market. That’s even better news. The economy created 200,000 more jobs than it destroyed in December, and the unemployment rate fell to 8.5 percent. In a robust economy,

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Wednesday, January 4, 2012 7:04 pm
By Judy Martel · Bankrate.com

With the Iowa caucus behind us and the election year in full swing, what’s the No. 1 priority for the next president? According to the results of a survey by Trulia.com, a real estate website, it’s not the housing crisis. Lower unemployment and reducing the federal deficit come first. But when asked about housing policy, respondents

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Tuesday, January 3, 2012 3:43 pm
By Polyana da Costa · Bankrate.com

Want to know when interest rates will rise? The Fed will let you know beforehand. From now on, each member of the Federal Open Market Committee will tell us his or her rate forecast for the fourth quarter of the year and for the next few calendar years, when the Fed publishes its economic projections.

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Monday, January 2, 2012 8:48 pm
By Judy Martel · Bankrate.com

If you’re still waiting to refinance, now may the time to snag the best deals. Not only are mortgage rates at near-30-year lows, but applications for refinances are down, prompting some banks to seek ways to encourage homeowners to get off the fence. The Wall Street Journal reports that many smaller and regional banks are

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Monday, January 2, 2012 10:00 am
By Jay MacDonald · Bankrate.com

Should the banks that helped create the foreclosure crisis now be allowed to profit from it by renting out foreclosed homes? That’s the question being asked in response to a Bloomberg report last week that several major financial and investment companies have proposed just such a solution to the Federal Housing Finance Agency. The FHFA

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