From the category archives:
With the housing industry still trying to recover from the losses suffered because of the mess in the subprime market, it is indeed surprising that the government-sponsored enterprise Fannie Mae has announced that it is making an effort to boost finances. Unfortunately, this effort comes with a high price for consumers.
Continue Reading: Mortgages Becoming More Expensive
If you have managed to escape the subprime mortgage mess, it should not mean that you will let down your defenses. One of the ways you can easily avoid losing your home to foreclosure is by organizing your finances early on.
Continue Reading: Avoiding Foreclosure By Organizing Your Finances
Sometimes, homeowners will simply have to accept the fact that they have over-extended themselves and can no longer afford to stay in their homes. But this does not mean that they should simply wait until the foreclosure notices arrive. A foreclosure can still be avoided by deciding to sell the property.
Continue Reading: Foreclosure Option 4: Sell Now!
In the past couple of years, millions of homeowners have started having problems with their mortgage payments, mainly due to the aggressive lending practices that were prevalent in the last home buying boom.
Continue Reading: Foreclosure Option 3: Loan Modification
Another option that troubled homeowners should explore if they can no longer meet their mortgage obligations is refinancing. But before you heave a sigh of relief, you should know that this option is not for everyone.
Continue Reading: Foreclosure Option 2: Re-Financing
It is not at al surprising that many homeowners are struggling to make their mortgage payments considering the unbelievably-high prices of fuel and increased cost of living. Therefore, it is not remotely impossible to find yourself with no money left to cover your mortgage payment for the month.
Continue Reading: Foreclosure Option 1: Repayment
Highlighting the low demand and sluggish market that have been plaguing Michigan for most of the past few years and contributing to its sinking property values, the amount of property sales in the Kalamazoo area fell again in April for the fourth consecutive month. However, the rate at which homes sales are declining is slowing, which may signal the beginning of a turnaround in the market.
Continue Reading: Home Sales Dropping, But Officials in Kalamazoo Michigan Optimistic
For the CEO of Fannie Mae, the housing crisis is only halfway through. In fact, in a meeting with shareholders, President Daniel Mudd stated that home prices are likely to decline further, by as much as 25 percent.
Continue Reading: “Declining home prices, not over” – CEO (Fannie Mae)
For the week ending April 11, the volume of mortgage applications increased by 2.5 percent. This is according to the survey conducted by the Mortgage Bankers Association each week. During the previous week, the mortgage application index was pegged at 725.6.
Continue Reading: Mortgage Application Index Rose by 2.5%
Last year, there was a 42 percent increase in mortgage frauds reported by banks. The said frauds were discovered when banks decided to become cautious in approving mortgage applications. In 2006, there was a recorded 37,313 mortgage fraud reports.
Continue Reading: Mortgage Fraud in 2007 up by 42%
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