News

2007

September

21
  • 'Toxic' mortgages are the best?. A new study from professors at Columbia and NYU finds that the "optimal" mortgage in a perfect world is an option ARM If you had to name the most toxic, dangerous, foolhardy kind of mortgage…
  • Strapped borrowers urged to act. Borrowers at risk of falling behind on their mortgages should engage their lenders early to try to avoid major problems, three top government officials said yesterday. Many homeowners encountering financial problems duck calls from their…
19
  • House OKs plan to stem mortgage concerns. The House on Tuesday approved a plan to expand federal backing of mortgages in hopes of helping struggling homeowners avoid foreclosure. The bill, which passed the House, 348-72, would allow the Federal Housing Administration, which…
  • Bold cut means savings for consumers. The Federal Reserve's unanimous decision to slash a key interest rate Tuesday is a dramatic statement that the central bank will do whatever it takes to prevent turmoil in the financial markets and a steep…
18
  • Can consumers cash in on Fed rate cut?. Mortgages, home equity lines of credit, auto loans, credit card rates, certificates of deposit, and money market accounts can all be influenced by changes in short-term interest rates set by the Federal Reserve. But don't…
  • In credit crunch, location matters. You've heard about how the credit crunch has made it harder for many types of buyers to afford a home or qualify for a mortgage. First-time buyers. Those moving up to larger homes. Buyers with…
17
  • Prepaying mortgage usually smart. Much attention is being paid to homeowners who can't afford their mortgage payment. But what if your bill is manageable? Or your interest rate hasn't moved upward yet? Should you prepay some of your mortgage?…
  • 'Sale by owner' comes with risks, rewards. On a lark last spring, Ronald Grant decided to "list" his South Pasadena house for sale on the popular real estate valuation website Zillow.com. Zillow estimated his home's worth at $1.4 million. But Grant, who…
16
14
  • Trapped by the mortgage meltdown. Whether you're a home seller, owner or buyer, by this point you've got to be feeling a little rattled. The bad news about the housing market seems never ending: Foreclosures have more than doubled over…
  • Mortgage Lending Crisis and its Impact on Hispanic Community. The National Association of Hispanic Real Estate Professionals (NAHREP) and the National Council of La Raza (NCLR) released “Saving Homes, Saving Communities: Latino Brokers Speak Out on Hispanic Homeownership,” a joint report offering analysis on…
13
  • Mortgage denial rate inches up. Applicants for home mortgages were turned down for loans at a slightly higher rate in 2006 than the previous year, and significant disparities continued to exist between white and minority applicants, the government reported yesterday.…
  • Prepayment penalties are a home loan trap. Homeowners whose loan rates are soaring may want to head for the exits. Many of them, though, will find no way out. If they sell their home or refinance, they will face a penalty of…
  • Minorías pagan más por crédito. De acuerdo con un informe publicado ayer por la Reserva Federal (Fed) de Estados Unidos, las minorías étnicas, entre ellas los latinos y afroamericanos, pagan precios más altos que los demás en sus préstamos e…
12
  • Bill would raise Fannie, Freddie loan limit. Fannie Mae and Freddie Mac would be allowed to buy mortgages of as much as $500,000 under an amendment to legislation that will likely be voted on next week, Rep. Barney Frank (D-Mass.) said yesterday.…
  • Mortgage brokers warned of deceptive ads. The Federal Trade Commission has warned more than 200 companies about "potentially deceptive" mortgage advertisements that could give borrowers false impressions of the cost of home loans. The agency said yesterday that ads in newspapers…
11
  • BBB warns of shady foreclosure rescue firms. Kent and Kimberly Leser had a lousy weekend. They moved their three children and the last of their belongings out of their house and into the home of Kent’s parents. The Leser family lost their…
09
  • Some mortgage originators skip state licensing. Concerned about mortgage fraud and predatory lending practices, many states have toughened their laws by requiring loan officers or originators to undergo extensive background checks and show proof of professional experience and training. Still, attracted…
07
  • Foreclosure proceedings set record. With a warning that the worst is yet to come, the Mortgage Bankers Association said Thursday that lenders began foreclosure proceedings on a record number of homes this spring. The turmoil in the mortgage market…
  • Contagio de crisis ‘subprime’. Los propietarios de casas que están batallando para lidiar con los fuertes incrementos en sus pagos de hipoteca ajustable fueron golpeados con un número récord de noticias de embargos durante la primavera, cuando se intensificó…
 

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