Mortgages Blog

Friday, May 6, 2011 9:47 am
By Polyana da Costa · Bankrate.com

You would never buy a car without a test drive. Apply the same concept to home buying and you may get a free stay. A Florida homebuilder is inviting potential buyers stay in one of their furnished newly built homes and for two nights and three days for $99. It sounds like those timeshare deals

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Tuesday, May 3, 2011 10:43 am
By Marcie Geffner · Bankrate.com

Follow the real estate. That’s a liberal misappropriation of the usual cliched instruction that investigators should “follow the money.” But it’s nonetheless an apt idea in light of the fact that at the end of a 10-year manhunt, it was Osama bin Laden’s $1 million house that gave him away. Authorities found out that bin Laden

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Monday, May 2, 2011 12:31 pm
By Holden Lewis · Bankrate.com

The national homeownership rate is at its lowest level since the second quarter of 1998. Remember when the comet-crashing-into-Earth movie “Deep Impact” was a hit? You don’t? Too long ago, huh? Well, that was the second quarter of 1998. According to the Census Bureau, the homeownership rate fell to 66.4 percent in the first quarter

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Tags: Mortgages
Friday, April 29, 2011 4:22 pm
By Polyana da Costa · Bankrate.com

The FHFA says it is updating some guidelines to ensure servicers work with delinquent borrowers before they attempt to foreclose on their homes. Considering the foreclosure crisis started four years ago and more than three million families already have lost their homes, I guess the best compliment I can give the agency is: better late

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Thursday, April 28, 2011 10:07 am
By Polyana da Costa · Bankrate.com

After seeing how the housing market has collapsed over recent years, you may wonder why anyone in their right mind would want to enter the tricky game of homeownership. Here is a compelling reason: It’s cheaper than renting — at least that is the case in nearly four of five major U.S. cities, according to

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Tuesday, April 26, 2011 10:56 am
By Marcie Geffner · Bankrate.com

Lenders reported a bump in new mortgage applications in mid-April, but the uptick may turn out to have been more of a blip than an upswing in the trend line. The volume of new mortgage applications increased 5.3 percent in the week ended April 15 compared with the prior week, according to a survey conducted

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Monday, April 25, 2011 10:00 am
By Jay MacDonald · Bankrate.com

I know the foreclosure crisis has been super-bad, but now it’s even badder, given that it’s knocking on the door of the baddest, most ridiculously funky musician to ever emerge from the frozen north: the Minnesota Landowner Currently Known as Prince. Or MLCKP, if you prefer. The Carver County Sheriff’s Office reports that the multitalented,

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Friday, April 22, 2011 9:21 am
By Marcie Geffner · Bankrate.com

Four hundred seventy-five pages. That’s the length of the Federal Reserve’s latest notice of a proposed rule to implement a federal law that says lenders must determine whether a borrower has the ability to repay a mortgage. The issue of whether a borrower can repay a loan is naturally somewhat tricky. But 475 pages? That’s longer

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Thursday, April 21, 2011 3:32 pm
By Polyana da Costa · Bankrate.com

Owning a home that is worth less than what you owe on your mortgage isn’t fun. But if the thought of walking away from this mortgage has ever crossed your mind, you might want to know that someone may be watching you. FICO announced it has developed new technology to predict which borrowers are more

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Wednesday, April 20, 2011 1:42 pm
By Polyana da Costa · Bankrate.com

The Fed is proposing a rule that would require lenders to make sure borrowers can afford payments before they are issued a mortgage loan. Isn’t that common sense?  You would think so but it was the lack of basic, commonsense rules that allowed lenders to give out mortgages to people who clearly couldn’t afford them

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Tags: Mortgages
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