Tag Archives: borrowers

Lenders Getting Smarter About Foreclosures

They’re not employing people to knock on the doors of people who are late on their mortgage payments. Many people have stopped making mortgage payments, hoping their bank will modify their loan, or, failing that, they’ll take advantage of some … Continue reading

Posted in Banks, Foreclosure, mortgage | Tagged , , , , | Comments Off on Lenders Getting Smarter About Foreclosures

Bank Repossessions Down In Washington DC

They are still on line to be the highest ever for a year. They will likely pass 2008’s total. There’s been a gangpress to reduce foreclosures which are slashing home values around the nation. These efforts have stemmed the tide … Continue reading

Posted in Foreclosure, mortgage | Tagged , , , , , | Comments Off on Bank Repossessions Down In Washington DC

The Refinance Rush

The U.S. government is doing everything it can to encourage people to refinance to save their homes, even if they owe more on their home than it is worth. Lower interest rates are also driving this refinancing boom. Average home … Continue reading

Posted in Refinance | Tagged , , , , , , , | Comments Off on The Refinance Rush

Is There Hope For Homeowners?

From HousingWire: This bill passed in July but it not making a difference. There have been only 42 mortgage applications for it. I wonder if there will be a flood? I doubt it. The program began Oct. 1. The lenders … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Is There Hope For Homeowners?

The Rules on Hope For Homeowners Program

Report: HOPE for Homeowners, nicknamed H4H, became law this summer to help keep homeowners from defaulting on their mortgages and going into foreclosure. Lenders who voluntarily allow borrowers to refinance under H4H are required to reduce the size of the … Continue reading

Posted in U.S. Government | Tagged , , , , | Comments Off on The Rules on Hope For Homeowners Program

Stopping Foreclosures

A letter to ModBee.com: I have been licensed in real estate for 33 years. The bottom of this real estate slide cannot be seen without stopping the foreclosures. Prices cannot stabilize with 10 homes on every block for sale by … Continue reading

Posted in Foreclosure | Tagged , , , , , | Comments Off on Stopping Foreclosures

Hope For Homeowners Program

WASHINGTON (AP) — The government kicked off a program Wednesday that aims to prevent foreclosures by letting an estimated 400,000 troubled homeowners swap their mortgages for more affordable loans. The $300 billion, three-year program is designed to help borrowers who … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Hope For Homeowners Program

More Mortgage Secrets

Gary Eldred writes in his new book: Borrowers with spotty credit err egregiously when they expect their large down payment to substitute for commitment and credit. You will never persuade reputable lenders to loan you money if you point out … Continue reading

Posted in Books | Tagged , , , , | Comments Off on More Mortgage Secrets

Subprime Mortgages

The American home ownership rate jumped from 45% to 65% in the decade after WWII. Mortgage credit possibilities were opened up to the middle class. Poor people were rarely able to participate in this boom. In 1994, America’s home ownership … Continue reading

Posted in Subprime | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on Subprime Mortgages

Relying On The Inheritance To Pay Off The Mortgage

From the Guardian: Nearly one in four homeowners are relying on inheritance to pay off their mortgage, figures out today revealed. The survey of more than 2,000 people, carried out by Engage mutual assurance, showed 23% of people with a … Continue reading

Posted in Britain | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Relying On The Inheritance To Pay Off The Mortgage