The insurance programs would make borrowers’ mortgage payments for up to six months if they become unemployed during the coverage period. By Kenneth R. Harney- March 27, 2011...
Archive | April, 2011
Home prices near a double dip – CNN Money
By Les Christie, staff writerMarch 29, 2011: 10:51 AM ET NEW YORK (CNNMoney) — January home prices fell for the sixth month in a row, edging closer to a double dip. The...
Million-Dollar Homes Face More Audits – Smart Money Blogs
By Arden Dale Some people who owe more than $1 million on their homes are coming under the microscope at the Internal Revenue Service over how much of their mortgage interest they can...
Proposed settlement would force banks to allow short sales for delinquent homeowners – LA Times
The proposed deal among banks and government officials is aimed at stabilizing the real estate market and helping underwater borrowers who are months behind on mortgage payments avoid...
11.4% of all U.S. homes are vacant – CNN Money
By Les Christie, staff writerMarch 29, 2011: 2:51 PM ET NEW YORK (CNNMoney) — There is a correction on this story. High residential vacancies are killing many housing markets, as...
3 Reasons the Term “Strategic Default” Is Misleading
In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from...
Buying a first home – WSJ
By RACHEL LOUISE ENSIGN – Wall Street Journal Last fall, Gretchen Steinmiller Torres and her husband, Dustin, bought their first place, a $204,000, four-bedroom, 2½-bath house...
Regulators propose tighter rules for mortgage-backed securities via Reuters
Reuters – March 29, 2011, 2:00 p.m. Lenders would have to originate mortgages with at least a 20% down payment if they want to repackage the loan to sell to other investors...
Rate on 30-year fixed mortgage rises to 4.81 pct. – Associated Press
(03-24) 07:13 PDT NEW YORK, (AP) – Fixed mortgage rates edged up this week, but even 30-year rates below 5 percent have done little to boost home sales. Freddie Mac said Thursday...