Loan News:
Posted on September 7, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
 Houston Chronicle |
Baytown woman sues lenders, says she was a victim of predatory …
Houston Chronicle, United States - Aiyer said the lawsuit was filed against Alpha Mortgage USA Inc., the original lender, and American Home Mortgage Servicing Inc., which now holds the loan. … Texas woman sues over predatory lending |
|
Ways to tap home equity without taking on mortgage debt
Seattle Times, United States - Their total mortgage debt cannot exceed 75 percent of the home's market value. The company's typical clients, said Liefer, are 56-year-old baby boomers with … |
 TopNews |
New low for US market Loan crisis shifts to home owners with risky …
Sydney Morning Herald, Australia - TROUBLE in the United States mortgage market has shifted from subprime loans made to borrowers with bad credit to home owners who had solid credit but took … Utah home foreclosure rate edges up Home loan troubles break records again Foreclosure Effect on Home Prices May Be Small |
 Financial Post |
Crumbling financials have further to fall
Financial Post, Canada - But signs of the looming crisis had emerged months earlier, in February, 2007, when US home mortgage lenders started warning of massive losses because a … Credit Crunch: The Sequel |
 KEZI |
Mortgages Fall Further
Wall Street Journal - WASHINGTON — Home mortgage rates moved lower this week after indications that consumer spending could slow, Freddie Mac's chief economist said. … US 30-year mortgage rates fall in latest week Mortgage rates ease: Third week in a row 30-year mortgages dip slightly to 6.35 percent |
|
Treasury set to bail out Fannie Mae, Freddie Mac
MarketWatch - … a plan to bail out and recapitalize collapsing home mortgage giants Fannie Mae and Freddie Mac in one of the biggest government rescues in US history. … McCain Throws Aside Free Market Rhetoric, Embraces Government … US gov't to save Fannie and Freddie Feds to Take Over Fannie Mae and Freddie Mac on Sunday |
|
Plenty to Coax Home Buyers Back To the Market
Washington Post, United States - Because it's one of the few remaining alternatives for buyers with low down payments, the FHA is a mainstay of the mortgage market now. … Federal housing tax credit has mixed benefits |
 RTT News |
Investments Are Faltering in Chrysler and GMAC
New York Times, United States - That includes Residential Capital, which became one of the nation’s biggest mortgage providers and plunged into the market for riskier home loans that could … GMAC's Home Loan Unit to Fire 5000, Shut 200 Offices (Update1) UPDATE 1-GMAC to cut 5000 jobs at ResCap mortgage unit GMAC to Cut 5000 Jobs At Ailing Mortgage Business |
|
Bank offers lure to close home equity lines
WKYC-TV, OH - National City Corp. is trying to recover from steep losses in the home mortgage market and wants to get rid of equity lines that don't have a balance. … |
|
Don't Bet Against Your House
Wall Street Journal Blogs, NY - This would require steering clear of real-estate-oriented stocks such as real-estate investment trusts, home builders, mortgage companies and … The Reality of Real Estate and the Economy |
Loan News:
Posted on September 6, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
WASHINGTON: A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to mount, the Mortgage Bankers Association said today. Read More …
The Federal Home Loan Bank of Cincinnati is handing out $1.3 million worth of grants in Ohio to help homeowners struggling to pay their mortgages and facing foreclosure. Read More …
By Mike Copeland Read More …
Associated Press - September 5, 2008 10:03 AM ET WASHINGTON (AP) - An industry group says a record 9.2% of American homeowners with a mortgage were either behind on their payments or in… Read More …
With a town vote looming on whether to purchase the Home Port restaurant in Menemsha and turn it into municipal land, the long-running seafood restaurant closed its doors for the summer last Sunday, possibly never to reopen for business. Read More …
This chart shows rates available as of Wednesday from area banks, thrifts and credit unions on selected consumer loans. They may change without notice. Read More …
Arizona Department of Public Safety detectives arrested a couple applying for a $159,000 home loan using stolen social security numbers and false immigration documents. Read More …
For David Hair, a simple home refinancing turned into a nightmare. The Johns Island resident restructured his mortgage in late 2005 without problems, but when he began sending his monthly payments to Countrywide Home Loans, company representatives told him they had no record of his loan. Read More …
A sharp drop in prices is cited, along with the resetting of ARM loans in California and Florida. The decline of housing markets in California and Florida has led to record numbers of foreclosures and is causing even good borrowers to pay more for loans, according to analysis and statistics released Friday. Read More …
In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in. Read More …
Loan News:
Posted on September 5, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
DUBAI - Iraqi Abu Zainab took a big loan to join a crowd of homebuyers seeking a piece of the Dubai dream, after violence at home forced him to look for a safe haven where he and his wife could spend their grey years in peace. Read More …
RIYADH: Owning a home has never been more difficult for most Saudis. Soaring construction costs, land speculation, and lack of bank financing have aggravated a housing deficit estimated at some 1mn homes and driven rents higher. Read More …
Corporate loans now looks like mortgages a year ago. Defaults are on the rise, but they are concentrated among small companies in industries with big problems and haven’t produced big headlines. Read More …
Sept. 3 (Bloomberg) — GMAC LLC and its Residential Capital LLC home lending unit plan to fire 5,000 employees, or 60 percent of the staff, and close all 200 GMAC Mortgage retail offices because of weak real estate markets. Read More …
UK care home services provider Southern Cross Healthcare has completed sales and leaseback deals on a further seven care homes, as it seeks to stave off the possible breach of loan covenants. Read More …
KINGSBURY Local officials and business leaders will host a forum on Thursday afternoon to discuss the expected increase in home-heating costs this winter. Read More …
Loan News:
Posted on September 4, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
|
Cash beats path to Beverly Hills buyout fund
Los Angeles Times, CA - But they still committed $2.75 billion to a new leveraged buyout fund launched by Beverly Hills-based Platinum Equity. That was $1.25 billion more than … |
|
Hurricane Season Highlights Risk Most Americans Are Taking: Likely …
NewsReleaseWire.com (press release) - According to David Newby, author and ex-loan officer, people end up losing their home equity needlessly all the time. “As we pass the 3 year anniversary of … |
|
National City Offers Customers Cash To Cut Equity Lines - FT
CNNMoney.com - The bank is offering to waive closure fees and write customers a $200 check to close "open-ended" home equity lines - which are committed but as yet undrawn … |
 Voxy |
New Home Equity Release Code Good, But Think Carefully Before Signing
Voxy, New Zealand - Age Concern New Zealand welcomes the government's new Code of Practice, but warns that home equity release contracts still need careful thought. … |
Loan News:
Posted on September 3, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
|
Renovate Your Home With a Homeowner Secured Loan
Thrifty Scot (press release), UK - A homeowner secured loan is a home equity loan because the collateral for the loan is the amount of equity in your home. You can use the money you obtain … |
|
More Personal Finance Daily stories
MarketWatch - "Getting at your home equity today, assuming you still have some, is not the slam dunk it was a couple of years ago." Not the slam dunk it was a couple of … |
|
The New Rules on Reverse Mortgages
U.S. News & World Report, DC - By Emily Brandon Tapping home equity to finance your golden years is a strategy that's growing in popularity. The housing law signed by President Bush this … |
|
GMAC's Home Loan Unit to Fire 5000, Shut 200 Offices (Update1)
Bloomberg - The company is majority owned by Cerberus Capital Management LP, a New York-based private equity firm, and is still partly owned by its former parent, … GMAC Plans to Cut 5000 Jobs at Mortgage Unit UPDATE 1-GMAC to cut 5000 jobs at ResCap mortgage unit GMAC to Cut 5000 Jobs At Ailing Mortgage Business |
|
Appreciative partner
MarketWatch - BOSTON (MarketWatch) — The sales pitch is simple: Tap into your home equity without taking on more debt, without paying any interest and without having to … |
|
Residential Real Estate: How Much More Pain?
Seeking Alpha, NY - Consider these players: 1) Home equity lenders will be greatly reduced, and won’t return in size until well after the bottom is passed. … |
|
Over 65s hold £726bn in home equity
TheMatureMarket.com (press release), France - The average homeowner aged over 65 in the South West saw the value of equity they have in their home fall by £6117, the highest decline for any part of the … |
Voxy |
New Home Equity Release Code Good, But Think Carefully Before Signing
Voxy, New Zealand - Age Concern New Zealand welcomes the government's new Code of Practice, but warns that home equity release contracts still need careful thought. … |
|
How the housing crash hurts your retirement
CNNMoney.com - While there are many valid reasons to borrow against your home, it can also be comforting to know that your home equity will be there later in life for … Equity release: how to unlock the door to your home's value |
Loan News:
Posted on September 2, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
A major piece of the federal mortgage loan program is coming to an end, a change that could mean more uncertainty for home sales throughout the rest of 2008 and into 2009. Read More …
Incentives that help teachers and police officers afford a house may also boost neighborhoods Baltimore City public school teacher DeWitt Doss bought his first home through an incentive program. Incentives that help teachers and police officers afford a house may also boost neighborhoods. Read More …
Mortgage rates aren’t what they used to be - and not just because they’re higher. Read More …
The number of new mortgages for home purchases in the UK in July fell to its lowest level ever, totalling 33,000 loans according to data released by the Bank of England. Read More …
Mortgage approvals fell for the 12th straight month to hit a series low in July, the Read More …
Q I inherited a home from a family member, and it has no mortgage. The house is in California, and I am in Georgia. The caretaker, who was instrumental in taking care of my elderly aunt before her death, wants the house but would not qualify for the mortgage based on her income and assets. Read More …
The number of mortgages approved for people buying homes dived by 71% during the past year to hit a new record low, figures have shown. Read More …
THE Rudd Government and homeowners can today look forward to the first piece of good interest rate news in more than seven years - a 0.25 per cent cut. Read More …
You might assume that with home purchases and new mortgage volume off by 30 percent or more in many markets during the past year, loan fraud would be down as well. Read More …
More than a year after the US sneezed from its subprime mortgage troubles, the Philippines, unlike other Asian countries, did not catch a cold, local financial experts said. Read More …
Loan News:
Posted on September 2, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
A jump in consumer complaints over the cancellation or reduction of home equity lines of credit has prompted one federal banking regulator to remind financial institutions about the laws governing this type of loan. Read More …
Prime Minister Gordon Brown will announce a package on Tuesday to prop up the slumping housing market. Read More …
COURTS/LEGAL ISSUES: Tatas asked to pay $19 m to RCom Court awards damages for denial of access to landing station in Mumbai. Mumbai, Sept. 1 Tata Communications has been directed to pay $19.29 million (Rs 84.87 crore) plus interest from May 2006 as damages to Reliance Communications, in the … Read More …
Loan News:
Posted on August 31, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
The Commonwealth Bank is buying one-third of non-bank lender Aussie Home Loans. Read More …
Incentives that help teachers and police officers afford a house may also boost neighborhoods Baltimore City public school teacher DeWitt Doss bought his first home through an incentive program. Incentives that help teachers and police officers afford a house may also boost neighborhoods. Read More …
I was going to refinance my loan on my house. The day I was going to sign the closing papers, I asked again what the loan amount and monthly payment would be. It was higher than what I was told originally, so I canceled the refinance. My appraisal fee was going to be free, but now they’re saying I have to pay it since the loan was not closed. But the only reason I did not close was because the … Read More …
(ARA) - This year alone, more than 60 lenders have exited the federal student loan market and in the private market, most lenders have significantly tightened restrictions or left the business altogether. Read More …
Incentives that help teachers and police officers afford a house may also boost neighborhoods W hen DeWitt Doss moved to Maryland in 2006 to accept his first teaching position with Baltimore City public schools, the Niagara Falls, N.Y., native wasn’t looking to buy a home. His chief concern was educating young people. Read More …
Commonwealth Bank of Australia Ltd (CBA) will buy a 33 per cent interest in mortgage broker Aussie Home Loans. CBA chief executive Ralph Norris says the minority stake was a strategic investment and will give the country’s largest home loan lender a stronger foothold in the mortgage market. Read More …
Part of the Housing and Economic Recovery Act of 2008 authorizes up to a $7,500 tax credit for qualified first-time home buyers. Read More …
The Federal Home Loan Bank of San Francisco announced August 29, 2008, that the 11th District Monthly Read More …
Q: I’ve heard that many older condo complexes need multimillion-dollar maintenance and repairs. In the past, the owners’ rapidly increasing… Read More …
Dear Bankruptcy Adviser, My husband and I were advised to opt for Chapter 13 bankruptcy to help us from going into foreclosure with our home. My husband has been out of work due to a disability and will not go back to work for at least a year and maybe more. Read More …
Loan News:
Posted on August 30, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
|
Protect Your Interests While Lending a Helping Hand
Washington Post, United States - By Ilyce R. Glink with Samuel J. Tamkin Q I inherited a home from a family member, and it has no mortgage. The house is in California, and I am in Georgia. … REDC Sells 1100 Southern California Foreclosed Homes for Over $200 … |
|
5000 mortgage brokers to go in market mayhem
The Australian, Australia - FOUR years ago, amid a seemingly never-ending boom in home-lending, Wayne Ormond's mortgage broking colleagues dubbed him the Chicken Little of the industry … |
|
Bad Credit Loan Mortgage- You Still Have Options To Own A Home
Corsavoo.com, France - A bad credit home loan mortgage may also have additional financial baggage attached such as PMI and origination costs. Your bad credit specifics will have a … |
|
Give a home buyer a fish ….
Boston Globe, United States - With home buying, however, it’s: “Give a man (or woman) a mortgage and he’ll get to move in; but teach him about the options and he’ll get to stay in that … |
 Waterloo Cedar Falls Courier |
Wells Fargo Mortgage Head to Step Down
Housing Wire - Oman’s group of businesses — Wells Fargo Home Mortgage, Wells Fargo Financial, and Card Services and Consumer Lending — will remain in its current form, … Wells Mortgage Chief Oman Plans to Retire Olympic gold medal-winner returns home Olympic gold medal-winner returns home |
 LIVENEWS.com.au |
CBA grabs stake in Aussie Home Loans
NEWS.com.au, Australia - By Rebecca Le May COMMONWEALTHh Bank of Australia Ltd (CBA) will buy a 33 per cent interest in mortgage broker Aussie Home Loans, giving it minority … UPDATE 1-Australia's CBA to buy 33% stake in Aussie Home Loans Free rein with CBA: Aussie's John Symond Independent broker status to be marketed |
Loan News:
Posted on August 28, 2008
Filed Under Home Loan & Home Equity News | Leave a Comment
|
Caught in between selling and buying a home?
Community Advocate, MA - A bridge loan means borrowing from the current home's equity until the proceeds from its sale is obtained. With some bridge loans, the requirement is to pay … |
|
THE SAVAGE TRUTH ON MONEY- Good News for Reverse Mortgages
San Fernando Valley Sun, ca - They are a safe and easy way for homeowners age 62 and older to maintain control and ownership, while tapping their home equity for taxfree cash. … |
|
S&Ls given warning about freezing credit
Minneapolis Star Tribune, MN - Many borrowers own homes worth less than the amount of their loan, and home equity lenders are tightening up amid rising defaults. … |
|
Unlocking your home equity
CNNMoney.com - The federal government, which backs more than 90% of all such loans through the Home Equity Conversion Mortgage (HECM) program, guaranteed 107400 reverse … |
|
Equity release could make up for pathetic pensions
Fair Investment Company, UK - This is where equity release comes in, allowing home owners to take out a loan against a property in order to fund retirement. There are two main types of … |
