Mortgage Modifications That Focus on Principal More Successful

A study from the Federal Reserve Bank of New York has shown that mortgage modifications that reduce the principal of a home loan are much more successful than those which just lower the payments. This really does make sense for how the homeowners see the long term viability of remaining in the home. If most [...]

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Hey, Hey … Wake Up…

The poor site took a long nap and now it is time to see if we can wake it up.

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Mortgage Rates Expected to Stabilize on Jobs Report

The poor jobs report may be the catalyst for the Federal Reserve to stop raising interest rates and give the mortgage industry a chance to catch its breath and slow down a bit. The marketplace has been in turmoil as the Federal Reserve has been raising interest rates putting pressure on new borrowers and those [...]

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Applying For a Mortgage Makes Credit Agencies Money

The next time that you apply for a mortgage the 3 credit bureaus will start smiling. Why, you ask? Well, once the information is requested by your mortgage broker, the credit agency will in turn sell your information to other mortgage brokers so they can contact you to get your business. And the worst part [...]

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LoopNet IPO Successful

Loopnet, the top online resource for commercial real estate had a successful IPO today opening up. The last 5 Initial Public Offerings have all been flat so brokers were pleased that Loopnet’s IPO was successful and there is such confidence for the commercial real estate market. LoopNet priced in the middle of its $11-$13 range [...]

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30 Year Mortgage at 6.66% on 6/6/06

This is just a little spooky. I bet there are a bunch of people who are expecting the housing bubble to pop hard to saying I told you so to this news. Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.66%, up 0.05 percentage point from the previous week, and matching a four-year high [...]

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Mortgage Demand Falls as Rates Increase

While this is not surprising, it is a sign of things to come. With housing demand down and the interest rates up, mortgage activity is slowing down.   U.S. mortgage applications fell last week, reflecting a decline in home refinancing loans as interest rates climbed, an industry trade group said on Wednesday.The Mortgage Bankers Association [...]

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Behind on the Mortgage – Expect a Call From a Shark

As the ARMs get broken and the interest only mortgages  turn venomous, a person who is facing bad imes and owns a house can be in big trouble. There are a group that prey on homeowners who are facing foreclosure. They will search foreclosure reports and look for those that need to sell or lose [...]

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Quicken Loans Forced to Repay Mortgage Interest in California

The 9th Circuit Court has ruled that Quicken Loans violated state law in California by improperly overcharging on mortgage interest. The company according to the ruling may be required to repay millions of dollars to customers for mortgage interest that it charged illegally. Quicken executives say they will look to appeal the case to the [...]

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50 Year Mortgage A Gimmick?

The 50 Year Mortgage, a relatively new way to finance a home, has been seen on the marketplace as an antidote for those trying to find their way into a home loan with the high cost of housing. When one hears 50 year  mortgage, they immediately think that it is in the same category as [...]

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