Mortgages Blog

Monday, June 20, 2011 9:00 am
By Jay MacDonald · Bankrate.com

Bank of America came under fire last week when it was revealed that the nation’s largest lender “significantly hindered” a federal probe into its foreclosure practices on FHA loans. The report, filed by a Department of Housing and Urban Development inspector general on June 1, was obtained by Bloomberg News when it was admitted into evidence as

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Thursday, June 16, 2011 3:02 pm
By Holden Lewis · Bankrate.com

Ominous numbers from RealtyTrac this week. The online marketplace for foreclosure properties says foreclosure filings in May were 33 percent lower than in May 2010, while, at the same time, the inventory of unsold, repossessed homes went up. Even as foreclosures decline, homebuying is declining even faster. “We have a lot of distressed properties on

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Monday, June 13, 2011 8:59 am
By Holden Lewis · Bankrate.com

Today’s live chat about mortgages begins at 2 p.m. eastern time. The chat is titled “Trying to buy or refi.”  Mortgage reporter Polyana da Costa and I will answer questions. Janet Stauble will moderate questions and comments. We’re prepared to answer questions about mortgages, refinances, break-even times, documentation, and basic stuff like that. We’re not

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Friday, June 10, 2011 12:10 pm
By Holden Lewis · Bankrate.com

We will have a live chat about mortgages on Monday, and you are invited. The chat, titled “Trying to buy or refi,” begins at 2 p.m. eastern time Monday. Mortgage reporter Polyana da Costa and I will answer questions. Loan officers and brokers are welcome to listen in and comment and help answer tough questions.

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Thursday, June 9, 2011 2:49 pm
By Polyana da Costa · Bankrate.com

If you’re one of the many homeowners who have gone through the frustrating experience of trying to work with your lender to get a loan modification, this may serve as a bit of consolation. The U.S. Treasury says it is withholding incentive payments owed to the three of largest servicers participating in the Home Affordable

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Tags: HAMP, Mortgages
Wednesday, June 8, 2011 9:11 am
By Polyana da Costa · Bankrate.com

If you happen to see a contractor walking around your house, taking pictures, don’t panic. It’s just your lender “inspecting” your property. According to new rules announced by Fannie Mae this week, mortgage servicers will be required to “order” a “property inspection” no later than 45 days after a homeowner misses a mortgage payment. “The

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Tuesday, June 7, 2011 2:56 pm
By Holden Lewis · Bankrate.com

Mortgage rates have been amazingly low lately. Whenever they linger below 5 percent, you’re seeing historically low mortgage rates. They’ve been ratcheting up a little today. If your lender hasn’t raised rates an eighth of a percentage point, you’re getting less bang for the buck with your discount points today. Still, mortgage rates remain very

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Tuesday, June 7, 2011 12:20 pm
By Holden Lewis · Bankrate.com

How dare Warren and Maureen Nyerges foreclose on their bank branch? You’ve probably read or seen the story by now: The Nyergeses paid cash in 2009 for a foreclosed house in Naples, Fla. They owned it free and clear. Four months after they bought the house, they received a foreclosure notice. Just a mistake by

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Monday, June 6, 2011 9:00 am
By Jay MacDonald · Bankrate.com

Put yourself in their combat boots: You bought a home during the housing boom only to be forced to sell it during the housing bust due to a base transfer or deployment to a combat zone. It wasn’t your call but you’ll be saddled for years with the financial loss, and possibly the collateral damage

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Thursday, June 2, 2011 4:52 pm
By Polyana da Costa · Bankrate.com

Who says you can’t have a baby and get a mortgage at the same time? Some lenders and mortgage insurance companies do. Federal law prohibits housing discrimination in sales, rental, and lending based on a person’s sex or familial status. According to HUD, that includes pregnancy. But some companies don’t seem to understand that. Stories

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