Tag Archives: current market value

What Is REO?

I keep seeing that term used in real estate news. Here’s a news report noting that high foreclosure rates have not driven down home prices as much as would normally be expected: Three out of four regions saw increasing levels … Continue reading

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Qualifying For A Refinance

Will you qualify? That’s the first thing you should think about before going through the enormous paperwork necessary to get a refinance these days. To get a refinance now you need sterling credit scores and abundant equity in your home. … Continue reading

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Fannie Mae, Freddie Mac In Political Spotlight

From the WSJ: Fannie Mae and Freddie Mac have become prime suspects in the political debate over who caused the mortgage meltdown. Fannie and Freddie do share some of the blame for the mortgage and housing bust. Fannie officials have … Continue reading

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Qualifying For A Refinance

Report: If it wasn’t for fixing other people’s bad choices (getting them into a better loan program), we would have been a victim of this mortgage meltdown — just like everyone else, says Fred Solomon of Solomon Financial Mortgage and … Continue reading

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American Economy on the Edge

Michael Spence writes: The collapsing asset values have led to damaged balance sheets in major financial institutions, capital adequacy problems and, recently, a drying up of credit. The unavailability and cost of credit have led to further collateral damage to … Continue reading

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Refinance Questions

From freep.com: Question: I have an balloon mortgage up in 2010. Between the amount owed and equity loan, I will need to refinance for the value of the home in the current market value. I know they normally do not … Continue reading

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Is The Bailout Change We Can Believe In?

From the New York Times editorial: As prices drop, millions of people who have never missed a mortgage payment stand to lose their home equity. Under the program, the government will insure up to $300 billion in new, more affordable … Continue reading

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Saving The Credit Market

From the Boston Herald: Our local banks hold many of the mortgages they write. In recent years, more and more mortgages across the country have been sold by the originating bank, bundled into complex securities and sold to investors. If … Continue reading

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Balloon Loans

From the Washington Post: The home mortgage market is devilishly difficult to navigate in normal times. During a time when home prices are declining, the difficulties are compounded. • Constructing a home has become more hazardous. One reader, John, agreed … Continue reading

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Asking More From Fannie Mae

From the WSJ: Fannie Mae and Freddie Mac, trying to contain mortgage-default losses, are redoubling efforts to prevent foreclosures. The two U.S.-government-sponsored guarantors of home loans last week said they will increase fees they pay loan-servicing companies for "workouts" that … Continue reading

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