Mortgages Blog

Monday, November 7, 2011 5:08 pm
By Judy Martel · Bankrate.com

Here’s another factor working against the housing market recovery : appraisals. Real-estate professionals say that the results of home appraisals are increasingly stalling or preventing sales. Fewer than 10 percent of realtors blamed appraisals for killing or delaying a deal prior to 2009, according to the National Association of Realtors. But in 2010, 29 percent

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Monday, November 7, 2011 10:00 am
By Jay MacDonald · Bankrate.com

It has been the elephant in the living room of our national debate since the housing bubble burst five years ago: Why not simply bail out homeowners who are upside down in their homes and facing foreclosure? As Harvard economist Martin S. Feldstein points out in a recent op-ed in The New York Times, nearly

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Friday, November 4, 2011 10:08 am
By Polyana da Costa · Bankrate.com

Bad news: The Labor Department says the economy added only 80,000 jobs in October. That’s short of the 95,000 jobs that economists had expected. Good news: The unemployment rate dipped to 9 percent after it had been stuck at 9.1 percent since April. And the August and September job figures were revised to show 102,000

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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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