Tag Archives: mortgage business

CA Passes Foreclosure Protection Legislation

California will now have the toughest regulations in the country against foreclosing on homeowners who are in the midst of renegotiating their mortgage. All this legislation makes the mortgage business less profitable for lenders so that they will have less … Continue reading

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Wells Fargo Joins Bank Of America In Leaving The Reverse Mortgage Business

Reverse mortgages were all the rage four years ago. Times have changed. I remember a lot of talk about three years ago about how reverse mortgages were bad for seniors. That banks were predatory. Watch out for the big bad … Continue reading

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Should Google Be Your Mortgage Adviser?

When I want more information on something, I go to Google. If I wanted more information on the mortgage process, I’d go to Google too. Report: Google (NASDAQ:GOOG) took its first step into the mortgage business when it launched a … Continue reading

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One San Jose Mortgage Firm Thriving In Chaos

Most parts of the mortgage industry have been hit hard by the housing downturn, but some are picking their spots, hiring and growing profits. Report: Dodging the debris unleashed by a shattered housing market, RPM Mortgage powered to its most … Continue reading

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Get A Reverse Mortgage Or Sell Your House?

Reverse mortgages come with some stiff fees, so I understand why many experts recommend instead just selling your home outright and living somewhere else less expensively. The AARP is suing about reverses in the reverse mortgage business that have put … Continue reading

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Bank Of America Starts Mortgage Clean-Up Unit

Bank of America bought Countrywide three years ago and became the largest originator of mortgages in the United States. They also bought a mess and they are still trying to figure out what’s going on. The bank is narrowing its … Continue reading

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When Interest Rates Go Up, The Mortgage Business Slows Down

The best source I know of for shopping for a mortgage or a refinance is Carolyn Warren. I’m reading her book on mortgage rip-offs. She notes that predators are out to take a piece of your home equity. What makes … Continue reading

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Shopping Around For The Best Interest Rate

Carolyn Warren writes in her book Mortgage Rip-Offs: Most people looking for financing make a big mistake: They call a list of lenders and ask, “What’s your interest rate?” But that’s not what you want to do, for two reasons. … Continue reading

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Banks Not Taking Any Risks

From the IHT: Banks that took foolish risks in the mortgage business now want to take no risks at all. It says that in such hard-hit markets as Miami and Las Vegas, the motivated sale prices are about 25 percent … Continue reading

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It’s Time To Downsize Fannie/Freddie Mac

From the Christian Science Monitor: Americans are little aware of how much they rely on federal assistance to help pay for a home. No longer. The mortgage crisis has finally caught up with two government-backed giants in home finance. Investor … Continue reading

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