Tag Archives: usa today

Mortgage Rates At Record Lows

Why are mortgage rates so low? Because demand is so weak for mortgages. With economic prospects uncertain, fewer Americans than is normal are in the market for a mortgage, so it is in lender’s interest to make their mortgages as … Continue reading

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Emergency Homeowners’ Loan Program Primarily Helped Homeowners In Just Three States

The USA Today reports on the billion dollar program’s narrow impact. More than half of that billion remains unspent because of insufficient homeowner interest. People just get tired of filling out reams of paperwork but that’s how the bureaucratic state … Continue reading

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Mortgage-Only Defaults Are Good Credit Risks

For most people, most of their wealth is in their home equity. When the market turns south suddenly and people find themselves owing much more on their homes than they are worth, they understandably consider defaulting and moving on. THE … Continue reading

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Home Owners In Foreclosure

A USA Today report says that homeowners in foreclosure have not made mortgage payments — on average — for 17 months. That was one of the top stories I saw in my free newspaper at the Costa Mesa Hilton this … Continue reading

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Fannie Mae Lowers Down Payments

From the USA Today: NEW YORK (Reuters) — Fannie Mae (FNM), the nation’s largest source of home financing, said Friday it is lowering the amount of down payments required on mortgages it purchases, even in areas where home prices are … Continue reading

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Denver Battered By Mortgage Crisis

The USA Today reports on home owners around Denver losing their homes and leaving town. We don’t know where people are going. DENVER — Foreclosures are ripping through the rows of new homes in the flatlands where Denver turns to … Continue reading

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