Mortgages Blog

Thursday, December 22, 2011 7:41 am
By Judy Martel · Bankrate.com

The overstatement of existing home sales by the National Association of Realtors, NAR, may have caused a setback to the speed of a housing recovery. Errors that began in 2007 and accumulated through the housing bust mean that home sales were actually 14.3 percent worse than reported by the NAR. Builders rely on the data

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Wednesday, December 21, 2011 10:53 am
By Polyana da Costa · Bankrate.com

Is now the time to buy a home? Most prospective homebuyers think so, according to a recent study conducted by Gary V. Engelhardt, a professor at Syracuse University. Despite high unemployment and slow economic growth, about 80 percent of Americans believe now is a good time to buy a home, shows the study, titled “The

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Monday, December 19, 2011 4:32 pm
By Judy Martel · Bankrate.com

Finally someone is feeling optimistic about home sales. Builder sentiment rose for the third straight month, according to the December survey by National Association of Home Builders/Wells Fargo. It’s the first consecutive, three-month upswing since 2009 and is considered a “legitimate, though slowly emerging upward trend,” according to David Crowe, chief economist at National Association

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Monday, December 19, 2011 10:00 am
By Jay MacDonald · Bankrate.com

Forget for the time being all the Three Stooges document-fumbling surrounding the housing collapse. Set aside the obvious malfeasance of robosigning and rocket dockets. The question on the table now is, were America’s largest mortgage lenders stealing homes? The recent lawsuit filed by Massachusetts Attorney General Martha Coakley against five of the nation’s largest banks

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Friday, December 16, 2011 3:05 pm
By Judy Martel · Bankrate.com

Troubles continue to plague Fannie Mae and Freddie Mac, the giant mortgage companies that were taken over by the government in 2008 and bailed out by taxpayers. The Securities and Exchange Commission, or SEC, sued three former executives at each of the two companies, including the former CEOs, charging them with misrepresenting the amount of

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Wednesday, December 14, 2011 5:21 pm
By Judy Martel · Bankrate.com

More potential first-time homebuyers are living with their parents instead of shopping for a home, further stalling a housing recovery. Mortgage rates are at record lows and home values have dropped — significantly in some areas of the country — since the heights of the housing bubble, yet young people are locked out of the

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Monday, December 12, 2011 4:36 pm
By Judy Martel · Bankrate.com

A bid to boost fees that Fannie Mae and Freddie Mac charge lenders in order to pay for the proposed payroll tax cut extension for another year is drawing fire from some in the real estate industry who fear that lenders will pass the fees on to borrowers in the form of higher mortgage interest

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Wednesday, December 7, 2011 4:54 pm
By Judy Martel · Bankrate.com

As one way to unload the glut of housing inventory languishing on the market, two senators want to introduce a bill today that gives foreigners who buy a home in the U.S. a residence visa. Foreigners would have to invest at least $500,000 in residential real estate (buyers can invest in more than one home

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Tuesday, December 6, 2011 6:00 am
By Judy Martel · Bankrate.com

Beware when searching on the Internet for ways to modify your mortgage payments. So far, the federal government has shut down more than 200 scam companies that are promising to help struggling homeowners.  In a separate action, search engines have been taking their own actions by barring suspicious advertisers. Google removed 500 advertisers from its

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Monday, December 5, 2011 3:44 pm
By Polyana da Costa · Bankrate.com

GMAC, the mortgage arm of Ally Financial, will cease most of its mortgage lending in Massachusetts. The announcement came a day after Massachusetts Attorney General Martha Coakley filed suit against GMAC and four other major mortgage servicers, alleging illegal foreclosure practices in Massachusetts. GMAC says it will stop buying loans from correspondent lenders and wholesale

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