Mortgages Blog

Friday, April 15, 2011 3:56 pm
By Polyana da Costa · Bankrate.com

A new bill that would give lenders 45 days to respond to short sale requests was introduced in the in the U.S. House this week. If passed into law, the Prompt Decision for Qualification of Short Sale Act of 2011, would “require the lender or servicer of a home mortgage, upon a request by the

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Friday, April 15, 2011 3:34 pm
By Holden Lewis · Bankrate.com

It will cost more to get an FHA-insured loan, starting Monday. You have this weekend to apply for an FHA-insured mortgage and grab the lower premiums. The Federal Housing Administration insures mortgages, and it has a two-part premium structure. There’s an upfront premium, which is a percentage of the loan amount and is paid at

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Tags: FHA, Mortgages
Friday, April 15, 2011 9:07 am
By Holden Lewis · Bankrate.com

Overall inflation was about the same as expected in March. When you ignore fuel and food, inflation was lower than expected. Mortgage bond yields are down this morning, and that should keep a lid on mortgage rates today. I’m not saying mortgage rates will fall, but this Consumer Price Index report won’t make them rise.

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Friday, April 15, 2011 8:50 am
By Marcie Geffner · Bankrate.com

Borrowers, mortgage markets, communities, courts and mortgage investors are all victims of loan servicers’ inadequate foreclosure policies and practices. That’s one clear conclusion of a new 15-page report, “Interagency Review of Foreclosure Policies and Practices,” issued by the Federal Reserve, Office of the Comptroller of the Currency and Office of Thrift Supervision, three federal agencies

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Thursday, April 14, 2011 3:25 pm
By Holden Lewis · Bankrate.com

Mortgage servicers ignored the countless news articles that described their slipshod practices, so now the government has to step in. That’s my conclusion after reading the Interagency Review of Foreclosure Policies and Practices, a report released yesterday by three federal regulators. Imagine that your company were terrible at what it does. So bad that newspapers

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Tuesday, April 12, 2011 10:23 am
By Polyana da Costa · Bankrate.com

Fannie Mae is reviving incentives to lure buyers, as it tries to unload its thousands of foreclosed homes. The agency is offering to give buyers up to 3.5 percent of the selling price to be used toward closing costs. The incentive applies to offers submitted on or after April 11 that close by June 30.

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Monday, April 11, 2011 9:52 am
By Marcie Geffner · Bankrate.com

The Department of Housing and Urban Development, or HUD, is working on a rule that would offer lesbian, gay, bisexual and transgender people, collectively LGBT, a little more protection from housing discrimination. The agency is finalizing a federal rule that would ensure its own housing and programs are open to everyone, regardless of marital status,

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Monday, April 11, 2011 9:00 am
By Jay MacDonald · Bankrate.com

Who’s paying to mow the lawn at that foreclosure down the block? If you own a life insurance policy, chances are it’s you, mate. Not only that, but you’re probably getting hit for twice what the guy doing the mowing is pulling down. A recent interview in the St. Petersburg Times with a 45-year-old Dallas

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Friday, April 8, 2011 11:26 am
By Marcie Geffner · Bankrate.com

Mortgage interest rates rose again this week in Bankrate’s weekly survey, creating a dilemma for homebuyers: Act now to avoid the risk that rates might rise further or wait and hope that prices will drop more. Either way, it’s not an easy choice. Mortgage and realty brokers tend to emphasize the risk of rates rising.

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Thursday, April 7, 2011 4:57 pm
By Polyana da Costa · Bankrate.com

If the government shuts down, lenders would still be able to process and close VA-backed mortgages, says Barbara Sheehan, assistant vice president of mortgage products for Navy Credit Union in Vienna, Va. Sheehan says she doesn’t expect borrowers to encounter major issues when they try to close on a VA loan next week, as long

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