Tag Archives: mortgage service

Mortgage Relief Plans Offer False Hope

In most cases, they only delay the inevitable. And why should banks rewrite contracts? Doesn’t anyone believe in the sanctity of contracts anymore? If you bought more home than you could afford, why should those who were responsible with their … Continue reading

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You May Need To Document Your Finances

President Barack Obama’s administration likes to use bureaucratic rules and paperwork to determine much of the economy rather than the free-wheeling free market system. One example of this is the new requirement to document your finances to modify your mortgage … Continue reading

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Surviving Mortgage Payment Shock

From the Motley Fool UK: Back in February, HSBC offered a ray of hope when it introduced its Rate Matcher mortgage. This offered a two-year fixed rate on the same terms as your previous fixed-rate deal. HSBC reckons its mortgage … Continue reading

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Refinance Solutions – Expand The FHA

The Milwaukee Journal Sentinel says the FHA should have a bigger role. It backs Barney Frank’s new legislation passed by the House. About 1.5 million homes were foreclosed on last year and there should be at least 2 million this … Continue reading

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Federal Reserve Chairman Ben Bernanke Pushes Government Intervention

I didn’t expect this. Bernanke does not want to let the free market do its thing. He wants lenders to think about cutting the principal of many loans to stop foreclosure. Bernanke did not endorse Barney Frank’s plan. Bernanke first … Continue reading

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UK Mortgage Fees Way Up For First-Time Buyers

They’ve increased about 35% over the past year. There are fewer lenders for the mortgage market. Higher credit scores are required and bigger downpayments. Here’s the report: The average fee paid by a first-time buyer to secure a mortgage in … Continue reading

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