Personal Finance Advice and Commentary

Tuesday, April 10, 2012 12:00 pm
By Polyana da Costa · Bankrate.com

Has the administration persuaded Fannie Mae and Freddie Mac to help underwater borrowers modify mortgages through partial loan forgiveness? Not yet. But Ed DeMarco, the Federal Housing Finance Agency’s acting director who oversees the agencies, has gone from “no” to “maybe” on the issue. He says the FHFA is conducting a second analysis to determine

Wednesday, January 25, 2012 1:43 pm
By Polyana da Costa · Bankrate.com

A $25 billion settlement agreement between regulators and five major banks could bring some — but not enough — relief to struggling borrowers. A draft of the settlement was completed this week but has not been approved yet. According to an Associated Press report, this is what the settlement could look like: The settlement would

Friday, January 20, 2012 3:14 pm
By Polyana da Costa · Bankrate.com

Federal and state regulators are close to reaching a settlement with some of the nation’s largest lenders over their shady foreclosure practices. What’s in it for borrowers? About one million borrowers could receive mortgage relief in the form of loan principal reductions, according to reports citing U.S. Housing and Urban Development Secretary Shaun Donovan. Donovan

Monday, October 31, 2011 1:33 pm
By Polyana da Costa · Bankrate.com

You may have heard talks that lenders are being pushed to help struggling homeowners by forgiving part of the principal owed on their mortgages. Forget it.  It’s not going to happen. That’s pretty much what Federal Housing Finance Agency Acting Director Edward DeMarco said during an interview that aired on C-SPAN this weekend. “The idea