Mortgages Blog

Wednesday, May 18, 2011 10:51 am
By Polyana da Costa · Bankrate.com

The foreclosure crisis is far from over and the situation could worsen if home prices continue to decline, according to data from a housing and mortgage trends report released by the real estate and financial information firm CoreLogic. Nearly one in four borrowers, or 11 million people, owes more on their mortgage than what their

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Tags: Mortgages
Friday, May 13, 2011 3:18 pm
By Polyana da Costa · Bankrate.com

There is no question the lack of regulatory oversight played a huge role in the collapse of the mortgage and housing markets. Yet, the concept of creating a more efficient system to help protect consumers’ interest against the predatory lending practices that contributed to this crisis seems to be viewed as absurd by some banks

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Tags: Mortgages
Friday, May 13, 2011 9:30 am
By Marcie Geffner · Bankrate.com

A new survey has found that homeowners continue to report considerable financial distress. Nearly 23 percent of those polled in a first-quarter Fannie Mae housing survey who said they had a mortgage also said they owed more than the value of their home. Of those underwater borrowers, 46 percent felt stressed about their ability to

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Thursday, May 12, 2011 12:19 pm
By Marcie Geffner · Bankrate.com

Have too many foreclosed properties? Why not give them away? That’s what Bank of America plans to do with as many as 150 vacant and abandoned properties in and around Chicago through a new “collaboration” with the city that’s intended to address the problem of abandoned properties. “Unfortunately,” BofA said in a statement, “many homeowners

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Tuesday, May 10, 2011 12:07 pm
By Polyana da Costa · Bankrate.com

You’re struggling to make payments on your mortgage and you learn that you’ve been approved for a loan modification or a forbearance agreement that will allow you to catch up on payments. That might be great news but before you sign on the dotted line, read the fine print to make sure your lender is

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Monday, May 9, 2011 11:13 am
By Marcie Geffner · Bankrate.com

What’s going on with home sales? It’s a question that concerns homebuyers, home sellers, homeowners and renters who’ve contemplated trading their rent check for a mortgage payment. At the moment, it’s not an easy question to answer with the usual comparative data. Resales of existing homes were up 3.7 percent to a seasonally adjusted and

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

What’s the best way out of our bubble-bust-bubble mortgage muddle that has resulted in a record 2.87 million American foreclosures last year alone? The answer may lie due north. O Canada, you have no doubt watched our housing-driven Great Recession with the stern if sympathetic eye of a schoolmaster who well knows the fate of all

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Tags: Mortgages
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
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