Mortgages Blog

Friday, January 21, 2011 11:05 am
By Marcie Geffner · Bankrate.com

Homeowners who are struggling to make their mortgage payments naturally may wonder what’s going to happen when and how they can help themselves remedy their situation. In most cases, there are three basic suggestions that make good common sense, almost without regard to the specific circumstances. 1. Don’t ignore the problem. 2. Be realistic about

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Monday, January 17, 2011 10:00 am
By Jay MacDonald · Bankrate.com

Would you be willing to pay your foreclosure lawyer by taking out a second mortgage on your home? A recent New York Times article explored this new wrinkle being practiced by some Florida law firms that are desperately searching for ways to get paid for challenging bungled foreclosures. While foreclosure lawyers collect some money from

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Tags: Mortgages
Monday, January 10, 2011 5:17 pm
By Marcie Geffner · Bankrate.com

Borrowers who can’t make their mortgage payments may wonder why lenders are loathe to accept less in lieu of foreclosure. The reasons can be found in a recent Congressional oversight panel report about the Treasury’s Home Affordable Modification Program, or HAMP. The report focuses on HAMP, but much of the information is equally applicable to non-HAMP

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Monday, January 3, 2011 10:00 am
By Jay MacDonald · Bankrate.com

It hardly requires a crystal ball to foretell that this sparkling New Year will soon be sullied by the ongoing mortgage mess. Joining last year’s headline-grabbing robosigners and rocket dockets will be this year’s new players: the title insurance companies. As New York Times columnist Ron Lieber recently wrote, title insurance companies will likely be

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Tags: Mortgages
Monday, December 27, 2010 11:05 am
By Marcie Geffner · Bankrate.com

It’s a common complaint of struggling homeowners that mortgage loan servicers sometimes initiate a foreclosure while they are trying to get a loan modification. Lenders defend this two-track system as a necessary way to begin the long foreclosures process in case a loan modification isn’t appropriate or viable for that homeowner. Consumer groups and consumer

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Monday, December 20, 2010 10:00 am
By Jay MacDonald · Bankrate.com

Like a rollicking round of Whack-a-Mole, problematic participants in our national foreclosure mess just keep popping up. We’ve been wailing on subprime lenders for two or three years now, followed by foreclosure mills and robosigners and robojudges and rocket dockets. Comes now a new mortgage mole that at least one expert claims deserves a whack:

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Thursday, December 16, 2010 3:12 pm
By Marcie Geffner · Bankrate.com

“Failure” may be too harsh a word to describe the shortcomings of the U.S. Treasury’s Home Affordable Modification Program, but HAMP hasn’t exactly been an unqualified success either, judging by the Executive Summary of a 192-page report issued Dec. 14 by a Congressional oversight panel. Here are three snippets, quoting directly from the report: •

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Thursday, December 16, 2010 9:45 am
By Holden Lewis · Bankrate.com

Mortgage rates hit 5 percent for the first time since May, in this week’s Bankrate.com rate survey. Read Marcie Geffner’s story to find out why. Actually, we can’t know for sure why rates have risen so much, so quickly. How quickly? Six weeks ago, the 30-year fixed was 4.42 percent, the lowest it’s ever been

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Wednesday, December 15, 2010 9:43 am
By Holden Lewis · Bankrate.com

This won’t come as a shock to you, but I was wrong in last week’s Rate Trend Index, when I predicted that mortgage rates would fall in the coming week. “When mortgage rates move up or down in big steps, they usually overshoot,” I wrote. “That’s why I believe this jump in mortgage rates will

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Monday, December 13, 2010 10:14 am
By Holden Lewis · Bankrate.com

I spent Sunday in a self-congratulatory mood, as I reveled in the idiocy of other people. Smugness feels good. If you were designing a stadium in Minneapolis, would you make sure it could withstand a 17-inch snowfall? Of course you would. Heavy snowfalls in Minneapolis are predictable. So why did the Metrodome’s architects design an

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Tags: Mortgages
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