Mortgages Blog

Friday, April 1, 2011 9:34 am
By Holden Lewis · Bankrate.com

Not much reaction so far this morning to the March employment report, which was released today and says the economy added a net 216,000 jobs in the third month. That’s a bit better than expected. The unemployment rate fell from 8.9 percent to 8.8 percent. Not a big deal. The jobless rate is too high

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Friday, April 1, 2011 8:42 am
By Marcie Geffner · Bankrate.com

Once upon a time, say, before the recent housing crisis, homeowners made every possible effort to make their monthly mortgage payment, even if that meant they couldn’t meet other financial obligations. Now, however, there’s a new payment priority in which many homeowners choose to let the mortgage slide into delinquency and default while they continue

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Tuesday, March 29, 2011 10:03 am
By Marcie Geffner · Bankrate.com

First, there was “robosigning.” Now, there is IntelliMods. The name might sound like science fiction, but, in fact, IntelliMods is a new Web-based computer application that purports to help loan servicers decide whether to approve borrowers’ requests for a loan modification. IntelliMods is a product of CoreLogic, an corporation traded on the New York Stock

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Tuesday, March 29, 2011 7:04 am
By Holden Lewis · Bankrate.com

To get a mortgage with the lowest rate and fees, you’ll have to make a 20 percent down payment if you’re buying the house or have at least 25 percent equity if you’re refinancing. And forget getting a good mortgage deal if you’ve been two months late on a credit card or car payment or

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Monday, March 28, 2011 9:00 am
By Jay MacDonald · Bankrate.com

I blinked twice at the figure: 638 days. That’s the average time it takes from an initial missed mortgage payment for the bank to complete foreclosure proceedings and change the locks here in Florida, the Foreclosure State. Nearly two years of free rent. Then, of course, the boot. We don’t top the latest list of

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Thursday, March 24, 2011 2:39 pm
By Marcie Geffner · Bankrate.com

U.S. home sales and prices are on a downward slide. Sales of existing homes dropped 9.6 percent in February to a seasonally adjusted annualized rate of 4.88 million units, a pace that’s slowed 2.8 percent compared with the 5.02 million level recorded a year earlier, according to the National Association of Realtors, or NAR. An annual

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Thursday, March 17, 2011 2:03 pm
By Marcie Geffner · Bankrate.com

Should homebuyers be required to make a down payment of at least 20 percent of a home’s purchase price to qualify for a mortgage? That’s a question some Bankrate readers tackled when presented with the prospect of such a requirement on certain loans to be known as “qualified residential mortgages,” or QRMs. Here’s what the readers

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Monday, March 14, 2011 10:00 am
By Jay MacDonald · Bankrate.com

You know the old saying, “A rising tide lifts all boats?” Well, apparently the reverse is also true, at least for some property owners who opted for a short sale to avoid foreclosure. Through no fault of their own, their credit report now includes a foreclosure that never was. You’ve heard this litany before: When

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Tags: Mortgages
Thursday, March 10, 2011 9:23 am
By Marcie Geffner · Bankrate.com

Realty brokers are quick to observe that in today’s housing markets, “Cash is king.” In fact, given the rise in the proportion of all-cash home purchases, it might be fair to say cash is not only king, but the whole royal family. During the housing boom, buyers wanted no-money-down mortgages, which allowed them to buy

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Tuesday, March 8, 2011 9:19 am
By Marcie Geffner · Bankrate.com

Mortgage interest rates peaked about month ago and have been on a downward trend since then. This week, rates may flatten out as investors weigh the latest economic data and try to suss out whether the recovery is in fact faltering or picking up steam. Here’s a recap of the numbers: The Bureau of Labor

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