Tag Archives: big mortgage

No Amount Of Government Intervention Will Stem Foreclosures

President Obama’s administration has new plans for the housing market. They’ve created a way for homeowners underwater and unable to refinance their homes to refinance into lower rates with mortgages owned by Fannie Mae and Freddie Mac. Despite this showy … Continue reading

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Betting On Banks With Big Mortgage Portfolios Have Proved To Be Bad Bets

Bank of America and Wells Fargo have disproportionate share of their assets in mortgages. Hence they are more vulnerable to the downturn in the housing industry that has swept through the United States since 2007. Here’s one billionaire trader who’s … Continue reading

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27 Pages Of Demands Placed Before Mortgage Servicers

Over the past few months, state and federal investigators have been looking into the way major lenders foreclose on properties. Now the question is whether politicians and regulators are more interested in punishing lenders or healing the housing industry. We’ve … Continue reading

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Fight Over Troubled Mortgages

Economist Tom Sowell places most of the blame for the housing crisis on government policy, but even he says some of the blame goes to the system that gave many an incentive to write a mortgage knowing they could then … Continue reading

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A Simple Inquiry May Have Dropped His Credit Score 40 Points?

A customer with a big mortgage apparently inquired of Bank of America who owned his mortgage. Soon after, his credit score dropped 40 points, even though he was playing by the rules, paying off his mortgage and doing all the … Continue reading

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No Refinancing Spree In New York

Mortgage rates have dropped, leading to a boom in refinancing everywhere in the US but New York. In the first three months of this year, refinancing applications jumped 92% from a year ago but they are only up 6% in … Continue reading

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Pros & Cons Of Reverse Mortgages

If you have a big mortgage and little equity, a reverse mortgage can be a better choice than foreclosure. A decline in divident payouts is causing more seniors to consider reverse mortgages. There are all sorts of new economic challenges … Continue reading

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Mortgage Hope For Home Owners

From the Washington Post: We interrupt this financial crisis with a word from its sponsor: the families who are losing homes to foreclosure. Right now, the plumbing is clogged with bad securities backed by bad home mortgages. The new “Hope … Continue reading

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Freddie Mac’s Loss Reflects Housing Gloom

From the New York Times: The gloom over the nation’s housing market deepened on Wednesday as Freddie Mac, the big mortgage finance company, reported a gaping quarterly loss and predicted that home prices would fall further than previously projected. Freddie … Continue reading

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Home Appraisals

The Chicago Tribune reports on a battle in Washington over home appraisal: In March, Fannie Mae, Freddie Mac, their federal regulator and New York Atty. Gen. Andrew M. Cuomo reached an unusual agreement. With it, Cuomo stopped investigating the home … Continue reading

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