June 8, 2011 (Shirley Allen) The number of underwater mortgages declined to 22.7 percent of all residential properties at the end of the first quarter of 2011, but if you had a home equity loan you were twice as likely to have negative equity according to the latest data released by CoreLogic. […]
March 23, 2011 (Chris Moore) Legislation backed by Scottsdale Republican Sen. Michelle Reagan proposes to allow homeowners who have underwater mortgages to bypass banks and use private investors to refinance their mortgages allowing investors to benefit by earning interest paid by reliable borrowers, while homeowners benefit by lowering their monthly payments and possibly lowering their [...]
March 16, 2011 (Shirley Allen) Just days after the House of Representatives voted to kill the Federal Housing Administration’s (FHA) Short Refinance Program, Bank of America, JPMorgan Chase, and Citigroup have joined Wells Fargo and Ally Financial/GMAC as participants in the struggling program. Read more...
March 10, 2011 (Chris Moore) The total negative equity of homeowners who have mortgages on their homes now stands at a whopping $751 billion according to CoreLogic’s latest release of its Negative Equity Report. The report predicts that housing prices are expected to fall another 5 to 10 percent adding as much $75 billion to [...]
February 11, 2011 (Shirley Allen) The Mortgage Bankers Association (MBA) has submitted a letter to Edward DeMarco, Acting Director of the Federal Housing Finance Agency (FHFA), calling for an extension to the Home Affordable Refinance Program (HARP) along with improvements to some of the guidelines contained within the program. Read more...
December 30, 2010 (Chris Moore) One of the great past times in America is reading the predictions for the upcoming year. This year is no exception, especially in the housing and mortgage market. Watching the economy taking a beating like Rocky Balboa has been more than many Americans can bear, but just like in the [...]
