We are looking at refinancing this week. We have about $250,000 equity in our home on a 30-year mortgage at 6.2 percent. We are three years into the mortgage. We are in our mid-50s. We know we will stay in this home for at least seven more years. We have just come into a very [...]
Posts Tagged ‘financial’
Real Estate Matters: Windfall lets 15-year mortgage work
July 18th, 2010 by Mortgage Writer
Tags: financial, foreclosures, homebuyers, housing market, interest rates, loans, mortgage, mortgage market, mortgage payments, mortgages, real estate, subprime mortgages, tax credit, US Economy
more...Mortgage Refinance Loan – Are They Easy To Find?
July 16th, 2010 by Mortgage Writer
With bad economical condition many people move to bad credit status. There are many lenders who are offering bad credit loans. If a borrower is searching for refinance loan with bad credit than it’s difficult. But yet, there are some companies who are willing to help. These loans are stress free and are the process [...]
Tags: bad credit, borrower, brokers, economic recovery, financial, foreclosure, home loans, homebuyers, loan, money, mortgage finance, mortgage loans, real estate, real estate loans
Advantages of Getting a Fixed Rate Term for Your Mortgage
July 3rd, 2010 by Mortgage Writer
Buying the house that you had always dreamed of is usually the culmination of a successful career. However, since you probably will secure a mortgage to have your dream house, the biggest consideration would most likely center whether you will go for a fixed rate mortgage or adjustable rate mortgage. Naturally, you would want a [...]
Tags: borrowers, financial, home loans, homebuyers, housing market, interest rates, money, mortgage loans, mortgage market, mortgage rates, real estate
What Wall Street reform means for your mortgage
June 29th, 2010 by Mortgage Writer
Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.
The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford [...]
Tags: borrowers, business, financial, financial crisis, home loans, homebuyers, housing market, interest rates, lenders, mortgage, Mortgage Bankers Association, mortgage lenders, mortgage payments, real estate, subprime mortgages, us consumer
Mortgage rates rise slightly but remain near record lows
June 18th, 2010 by Mortgage Writer
Lenders are offering an average rate of 4.75% for a 30-year fixed mortgage, up from 4.72% last week, Freddie Mac says.
Mortgage rates rose slightly but remained near record lows this week after lenders reported the first increase in six weeks in the number of loan applications by would-be home buyers. But for the housing market, [...]
Tags: borrowers, financial, Freddie Mac, home loans, homebuyers, housing market, lenders, mortgage banker, mortgage lending, mortgage rates, real estate, tax credit
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
June 14th, 2010 by Mortgage Writer
The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
Fannie and Freddie, now 80 percent owned by U.S. taxpayers, [...]
Tags: business, fannie mae, financial, Freddie Mac, home loans, homebuyers, interest rates, mortgage backed securities, mortgage companies, mortgage market, mortgage payments
Oh, Canada! What We Could Learn From Your Mortgage Market
June 10th, 2010 by Mortgage Writer
One of the biggest rounds of applause at a housing-policy conference sponsored by the Federal Reserve Bank of Cleveland this week was for Virginie Traclet, a soft-spoken researcher from the Bank of Canada. All the French-born Ms. Traclet had to do was describe Canada’s mortgage market.
To start with, interest on mortgage debt isn’t tax deductible [...]
Tags: borrowers, fannie mae, federal reserve, financial, Freddie Mac, interest rate, mortgage debt, mortgage loans, mortgage market, subprime loans, treasurys
Housing starts solid as mortgage rates watched
June 9th, 2010 by Mortgage Writer
Island residential construction jumps 37%, signalling stronger economic conditions.
The house-building industry is back producing homes at a rate comparable pre-recession rates in 2008.
The Canadian Mortgage and Housing Corporation, the federal agency that monitors the housing industry, is reporting solid year-over-year numbers in residential construction during the past year in its May industry report.
House construction is [...]
Tags: economic recovery, economy, financial, housing market, interest rates, investors, loans, Mortgage Bankers Association, mortgage market, mortgage rates
BofA to pay $108M for Countrywide mortgage abuses
June 8th, 2010 by Mortgage Writer
Bank of America has agreed to pay $108 million to about 200,000 homeowners who paid improper and inflated charges to the defunct subprime mortgage lender that became the poster child of the housing apocalypse, Countrywide Financial.
The Federal Trade Commission said two mortgage-servicing units of Countrywide, which BofA acquired in 2008, “deceived homeowners who were behind [...]
Tags: bank of america, borrower, business, financial, homeowners, housing market, interest rates, mortgage market, mortgage servicer, real estate, subprime mortgages
JPMorgan to Sell $716.3 Million of Mortgage Bonds
June 7th, 2010 by Mortgage Writer
JPMorgan Chase & Co. is marketing $716.3 million of bonds backed by commercial mortgages, according to a person familiar with the offering.
The transaction, which is the second of newly issued commercial-mortgage backed bonds to be sold this year, consists of 36 loans on 96 properties, said the person, who declined to be identified because terms [...]
Tags: borrowers, commercial mortgages, economy, federal reserve, financial, financial crisis, homebuyers, housing market, jpmorgan, mortgage market, real estate, US Economy
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