Tag Archives: mortgage borrowers

Banks Close To Settlement With Administration, State AGs Over Foreclosure Practices

The major banks are close to finishing a deal whereby they give up $20 billion and agree to change their ways in exchange for legal immunity from various lawsuits against them over foreclosure practices. Banks have always sought to settle … Continue reading

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Another Mortgage Refinance Plan

Another day, another plan from Washington to fix the housing crisis. So far all the government efforts to turn around the housing industry have had either negligible effect, no effect or a negative effect. But politicians don’t care so much … Continue reading

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I Didn’t Know Reverse Mortgage Borrowers Could Go Into Default

Many senior citizens with reverse mortgages could go into foreclosure if they can’t pay their mortgage insurance and taxes. Seniors take out reverse mortgages expecting to stay in their homes until they die or move to a nursing home. The … Continue reading

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Regulating Reverse Mortgages

This New York Times editorial is upset about unwary consumers being prey to unscrupulous lenders. So what is the solution? More government intervention. More government regulation. The number of reverse mortgages is growing every year as senior citizens need cash … Continue reading

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Subsidizing Underwater Homeowners

Did you buy more mortgage than you could afford? Did you make some stupid choices? Don’t worry. The Democrats want Uncle Sam to bail you out. I can’t wait until President Obama and the Democrats try to force the big … Continue reading

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Lowering Mortgage Rates Will Save Borrowers Billions

This study seems straight forward. Lower interest rates this year will save $11.5 billion for mortgage borrowers. More than two million borrowers have managed to lower their monthly payments. Americans are dramatically reducing their debts and upping their savings. From … Continue reading

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JP Morgan Stops Foreclosures

Prime mortgages are at issue, particularly those with option ARMs. We’re due for a vast increase in foreclosures as option ARMs roll into much higher rates. JP Morgan owns $325 billion worth of mortgages, of which $250 billion of that … Continue reading

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One In Five Homeowners Owe More Than Their Home Is Worth

The real estate situation is worse in California, Florida, Arizona and Nevada. Otherwise, it is not so bad. Some housing markets, such as in Boston, are recovering. JP Morgan has made an offer to refinance about $70 billion worth of … Continue reading

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California Struggles With Foreclosures

Foreclosures in California leveled off in the second and third quarters. A new law changes the way defaults are filed and measured. There’s no end in sight for California’s real estate crash. From Reuters: California was primed in recent years … Continue reading

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Mortgage Debt Is Only A Part Of Bank Troubles

Report: Mortgage debt has been the poster child for this financial crisis, and rightly so, considering the sheer size of the market and the juicy stories about people getting swindled and then losing their homes. With property prices falling across … Continue reading

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