Archive for March, 2009
Mortgage Rates Fall Again for 30 Year Home Loans
Home mortgage rates on 30-year home loans plunged this week to the lowest level since January, and are poised to fall further after the Federal Reserve launched a new effort to prop up the flailing housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed rate mortgages dropped to 4.98 [...]
Subprime Loans and Delinquencies Rise as Foreclosures Loom
With new subprime originations all but extinct, subprime mortgage lenders continue to focus their efforts on helping troubled borrowers. Delinquencies and loan modifications increased again while foreclosure actions stalled in the fourth quarter of 2008. The volume of bad credit mortgage loans continues to drop but the demand for bad credit mortgages continues to rise. [...]
Will Obama Mortgage Plan Sinking Home Financing
Ben Tracy reports on whom Obama’s housing plan will risk the mortgage lending system. 20% of U.S. homeowners with mortgage loans are “underwater,” meaning they owe more money to their mortgage lender than their property is worth. Borrowers who have mortgage loans above the conforming and FHA loan limits are not eligible for the federal [...]
Mortgage Bailout Debate
On Fox News, Glenn Beck & Bill O’Reilly discuss the revolution of the mortgage bailout, loan modifications, bad credit refinancing and how the recent stimulus plan can help pull our economy out of this deep recession. Watch Mortgage Bailout Video as Glenn Beck and Bill O’Reilly debate on Obama’s mortgage relief bill, the housing and financial [...]
Mortgage Loan Report Suggests 1- 5 Homes Underwater from Declining Values
First American Core Logic announced that more than 8.3 million U.S. home mortgages had negative equity as of year-end, compared with 7.6 million just three months earlier. Another 2.2 million mortgaged owner-occupied properties have homes worth only about 5% more than their debt, so they are approaching negative equity as home values slide. More than [...]