Mortgages Blog

Thursday, November 3, 2011 3:57 pm
By Judy Martel · Bankrate.com

Freddie Mac, the government-controlled mortgage company, is asking for an additional $6 billion from taxpayers after experiencing a third-quarter loss of nearly $2 billion more than the third quarter of last year. According to the Associated Press, the company’s losses have increased over the past year because many homeowners have refinanced and are now paying lower

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Wednesday, November 2, 2011 11:02 am
By Polyana da Costa · Bankrate.com

If your house was in foreclosure in 2009 or 2010 and your mortgage servicer misbehaved, here is some good news. You can request to have your foreclosure case reviewed by an independent firm. If the reviewer determines that you suffered “financial injury” because of the servicer’s “errors, misrepresentations or other deficiencies in foreclosure practices,” you

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Tuesday, November 1, 2011 4:29 pm
By Judy Martel · Bankrate.com

Nearly one in four homeowners (22.7 percent) owes more on his mortgage than the home is worth, according to California research firm CoreLogic. Almost three-quarters of the underwater homeowners have above-market interest rates, says CoreLogic, but refinancing has proven to be tricky. In an effort to address the problem, last week President Obama announced the

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Monday, October 31, 2011 1:33 pm
By Polyana da Costa · Bankrate.com

You may have heard talks that lenders are being pushed to help struggling homeowners by forgiving part of the principal owed on their mortgages. Forget it.  It’s not going to happen. That’s pretty much what Federal Housing Finance Agency Acting Director Edward DeMarco said during an interview that aired on C-SPAN this weekend. “The idea

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Wednesday, October 26, 2011 5:14 pm
By Judy Martel · Bankrate.com

The market with the biggest gains in home values since 2009 is in one of the states hit hardest by the housing slump: Florida. Zillow researched the 1,000 largest U.S. cities in a survey for Bloomberg Businessweek and found that Weston, Fla., a suburb of Miami-Ft. Lauderdale, had a 15.1 percent increase. The suburb is

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Tags: home, prices, values
Monday, October 24, 2011 2:40 pm
By Polyana da Costa · Bankrate.com

An improved refinance program that is expected to allow millions of underwater borrowers to refinance their mortgages was just announced. Borrowers will be able to refinance their mortgages owned by Fannie Mae and Freddie Mac under the Home Affordable Refinance Program, or HARP, even if they owe more than what their house is worth. The

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Tags: HARP, Refinance
Monday, October 24, 2011 12:00 pm
By Judy Martel · Bankrate.com

Let’s see if the new, improved home refinance program goes any further toward pumping life into the stagnant housing market. On Monday, the Federal Housing Finance Agency, or FHFA, the government agency that controls Fannie Mae and Freddie Mac, announced an overhaul of the controversial Home Affordable Refinance Program, or HARP, that is designed to ease rules

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Monday, October 24, 2011 9:00 am
By Jay MacDonald · Bankrate.com

After a year of discordant negotiations, a settlement is said to be imminent between U.S. states and the nation’s largest mortgage lenders that would allow the banks to walk away from America’s foreclosure mess for a reported $25 billion. Reuters quotes sources close to the negotiations who say an agreement could be reached by the

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Friday, October 21, 2011 11:36 am
By Polyana da Costa · Bankrate.com

How bad is the housing market in the United States? So bad, that two senators — a Republican and a Democrat — have joined forces to push a bill that would offer visas to foreigners who spend $500,000 buying homes in the States. The bill was co-authored by Sen. Charles Schumer (D-N.Y.) and Sen. Mike

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Wednesday, October 19, 2011 3:40 pm
By Judy Martel · Bankrate.com

Remember back in 2009, when President Barack Obama introduced the Home Affordable Modification Program, or HAMP, by touting its goal of helping 3 million to 4 million borrowers keep their homes? The program has actually provided mortgage relief to fewer than a million to date. The Wall Street Journal reported that Treasury Department statistics show the

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