Livinincali said: It’s definitely going to be a long drawn out process. The biggest group of new defaulters are FHA loans and since the government gets to decide foreclosure on those I expect to see many more years of free rent. FHA Foreclosures would come through HUD...
From HW: Preparing for the return of the jumbo lending market and the days when Fannie Mae and Freddie Mac are no longer mortgage finance behemoths, Rancho Financial is bringing to market loans often blamed for the destruction of the nation's housing economy. A...
From the latimes.com: Could gloomy popular assumptions about how tough it is to get approved for a mortgage be scaring away large numbers of qualified people? You bet. Lenders and economists will tell you flat out: The lack of accurate information about the...
From the latimes.com: After a year characterized by grumpy partisan gridlock, Congress came up with a Thanksgiving compromise that could change the mortgage choices of buyers and refinancers in more than 660 markets across the country: It raised maximum loan limits...
People want to think the sky will be falling once Fannie Mae and Freddie Mac close up shop. On October 1st, both will likely be rolling back their super-conforming loan limit of $697,500 to $546,250 in San Diego. Eventually Fannie/Freddie will be morphed into some...
With Fannie/Freddie's policy of taking loans from borrowers with "extenuating circumstances" just three years after their short sale, we should start seeing some of those folks getting back into the market soon - as long as they re-establish good credit. From the...
A question not asked in this video with Ted Lange, a reverse-mortgage specialist for Wells Fargo: Does the loan balance go up? Answer: Yes, the interest payments are tacked on, based on today's 30-year fixed rate (which is 5.06%):
Hat tip to Trisha for sending along this article by Lynnley Browning in the nytimes.com: Homeowners looking to lower their monthly mortgage payments and also save some on interest may be able to do so without all the hefty fees and daunting credit requirements of...
From cnbc.com: How many rich people are there in the U.S., how much do they make and where do they live? According the data from the Census Bureau, there are currently 4.5 million households that earn over $200,000 per year, which is roughly 3.8% of all households in...
I represented the seller, a blog reader:
