Mortgage Basic
Basic living costs in Britain at 20-year high
Nov 1st
According to economists at Oriel Securities, spending this year on non-discretionary items – such as food, utilities, petrol and mortgages – is forecast to account for 67.3pc of household disposable income. Ten years ago, spending on essentials accounted for just 56.6pc of disposable income. More >
Mortgage arrears worsen in Ireland
Aug 29th
Irish residential mortgages in arrears or restructured due to financial distress rose 10 per cent in the second quarter from the previous three months, heaping pressure on the government to come up with a solution for struggling homeowners. More >
Ally’s net income plummets as mortgage woes linger
Aug 2nd
Government-controlled lender Ally Financial Inc. said Tuesday that its second-quarter net income plummeted to $113 million, a fifth of what it made a year ago, as its mortgage arm lost money and its auto unit reported a smaller profit. More >
Get Cash for Paying Your Mortgage?
Jul 11th
Underwater homeowners paying for private mortgage insurance (PMI) on their home loans could qualify for an incentive to stay current on their loans, under an arrangement announced today by one of the nation’s biggest private mortgage insurers. More >
Large swaths of Central Valley under water – mortgage-wise
Jun 7th
There are 10.9 million homes in the United States, or 22.7 percent of all residential properties with a mortgage, that were in negative equity at the end of the first quarter of 2011, according to a new report Tuesday from CoreLogic Inc. (NYSE: CLGX), a Santa Ana-based financial information company. More >
Fed unveils proposal on U.S. mortgage standards
Apr 19th
Lenders would be required to make sure prospective borrowers were able to repay their mortgages before giving them a loan, under a proposal released by the Federal Reserve on Tuesday.
The rule, which is required by the Dodd-Frank financial reform law, is intended to tighten lending standards and combat home lending abuses that contributed to the 2007-2009 financial crisis. More >
Refinance Mortgage Rates Today
Apr 12th
The average 30-year refinance mortgage rate increased one basis point today. Over the last 30 days the rate has been steadily increasing. Despite the historically low rates, fewer peple are refinancing.
Bank of America had a 30-year fixed rate mortgage (FRM) for refinance of 5.261%. Their 15-year FRM was 4.676% and their adjustable rate mortgage (ARM) was 3.383%. More >
Basic Information on Mortgage Reduction
Dec 14th
Mortgage loans are forever difficult to pay off especially during these tough financial times. The pressure of facing foreclosure can be so intense that some bread winners just choose to take their own lives. However, if you already have a noose tied around your neck you had better cut it off and do your research about mortgage principal reduction. A lot of banks are implementing this and you too can benefit if you are battling with a mortgage. More >
Handling Debt Better With Refinance
Nov 30th
Even though refinance is not always a possible solution, there are several uses under suitable conditions. Several of such rewards include low monthly payments, debt consolidation and the capability to use the existing equity in house. Consumers need to evaluate each of such options with their existing monetary position to decide whether or not they like to refinance their home mortgage. More >
Different “Mortgage” Rules Apply for NYC Co-ops
Nov 23rd
If you’re thinking about buying a home in New York City, there’s a good chance you’ll be getting a co-op rather than a condo or a house. According to the official figures from the city, co-ops make up 43 percent of the non-rental housing in the city, but private sources put the figure even higher, as much as 75-85 percent. More >
