Mortgages Blog

Monday, October 25, 2010 10:00 am
By Jay MacDonald · Bankrate.com

This Halloween, the scariest haunted house on my block is the foreclosure. Actually, I have two of them down the street here in Florida. Nice homes, now shuttered, pools dry, slowly in decay. And yes, it scares me to ponder how these foreclosed homes might affect my home’s value. Add the recent foreclosure freeze to

» Read more
Wednesday, October 20, 2010 4:40 pm
By Marcie Geffner · Bankrate.com

Properties in some stage of foreclosure (loan default, scheduled for action or lender-owned), accounted for 24 percent of all U.S. home sales in the second quarter of 2010, according to the RealtyTrac online foreclosure information service. And that percentage might well have been higher had the homebuyer tax credit not goosed the sales volume. The

» Read more
Wednesday, October 20, 2010 10:32 am
By Holden Lewis · Bankrate.com

Q: What do you call someone who completes one semester of college, works for six years as a customer service representative for a company that sells window shades, and then shuffles papers for two years in a bank’s document execution department? A: You call her vice president of loan documentation for Wells Fargo Bank, N.A.

» Read more
Tuesday, October 19, 2010 8:45 am
By Holden Lewis · Bankrate.com

Nowadays, it takes six or more weeks for a consumer to get a mortgage, from application to closing. The lender takes more than a month to go through each borrower’s paperwork, making sure that all the documents are genuine and true. It took Bank of America two and a half weeks to confirm that the

» Read more
Monday, October 18, 2010 3:44 pm
By Holden Lewis · Bankrate.com

Bank of America says it will resume foreclosures in at least 23 states, starting next week. BofA, the largest mortgage servicer, has suspended foreclosures nationwide as it reviews its processes for repossessing houses. In the 23 judicial foreclosure states, the bank is getting ready to resubmit affidavits in 102,000 foreclosure cases. In a statement, the

» Read more
Thursday, October 14, 2010 9:26 am
By Holden Lewis · Bankrate.com

The average rate on the 30-year, fixed-rate mortgage went up this week in Bankrate’s survey. Rates on other types of mortgages went down. Both ways, the movement was small. Overall, you could say that mortgage rates, on average, were about the same. On the 30-year fixed, the biggest banks tended to raise rates this week,

» Read more
Tags: Mortgages
Wednesday, October 13, 2010 3:58 pm
By Holden Lewis · Bankrate.com

Refile faulty affidavits and move on. Proceed with foreclosures with as few delays as possible. That’s the word from the head of the government agency that oversees Fannie Mae and Freddie Mac. Edward DeMarco, acting director of the Federal Housing Finance Agency, wields more influence than anyone else over mortgages. In a statement issued this

» Read more
Wednesday, October 13, 2010 9:17 am
By Holden Lewis · Bankrate.com

Yesterday I outlined the disagreement within the Fed about the causes of high unemployment. Members of the rate-setting committee also seem to have differing views about inflation targeting. Observers believe that the Fed wants inflation between 1.5 percent and 2 percent. If inflation is below that, consumers are reluctant to spend, and if inflation is

» Read more
Wednesday, October 13, 2010 9:00 am
By Holden Lewis · Bankrate.com

Two major mortgage servicers say they will review their foreclosure procedures in all 50 states. GMAC Mortgage, a unit of Ally, says it has hired “several leading legal and accounting firms to conduct independent reviews of its foreclosure procedures in each of the 50 states.” That’s a review, not a suspension of mortgage activity. In

» Read more
Tuesday, October 12, 2010 5:25 pm
By Holden Lewis · Bankrate.com

More than a year into our supposed economic recovery, members of the Fed’s rate-setting committee can’t agree on an explanation for the sluggish state of job growth. As a result, it’s not a sure thing that the Fed will try to depress long-term interest rates, including mortgage rates. They probably will, but would you bet

» Read more
Page 71 of 84« First...102030...6970717273...80...Last »