Posts tagged as:

mortgage

Tips for refinancing your mortgage

June 30, 2009

Bad news: property values are way down, to the point where many people are sitting on mortgages at or above what they paid for their house.
Good news: mortgage rates are low, making it a great time to refinance. You can also install energy efficient appliances to put some money in your pocket.
But before you refinance—be sure to [...]

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Judge Slaps Ameriquest Hard For Selling Mortgage, Then Pretending To Still Own It

June 1, 2009

My monthly column for Consumerist: Judge Slaps Ameriquest Hard For Selling Mortgage, Then Pretending To Still Own It | Consumerist

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Banks spent $42.4 million to kill the cramdown

May 6, 2009

Last week, the Senate put the proposed “cramdown” legislation to rest. That legislation would have saved 1.7 million homes, and $300 billion wasted on the foreclosure process. The banking industry was apparently not interested in $300 billion, though. Instead, it spend $42.4 million lobbying senators to kill the bill.
Figures. The astonishingly bad judgment of those [...]

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New York Times: Walking Away From Your Mortgage, Not So Bad After All

April 2, 2009

New York Times: Walking Away From Your Mortgage, Not So Bad After All | Consumerist

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Another five mistakes homeowners make when facing foreclosure (Foreclosure Week)

March 20, 2009

Another five common mistakes for homeowners in foreclosure.

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Five common mistakes homeowners make during foreclosure (Foreclosure Week)

March 18, 2009

The top ten mistakes that a homeowner makes when facing foreclosure.

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Produce the note!

February 26, 2009

Sometimes the court system actually works. The AP has an interesting article on homeowners who are forcing lenders to <gasp> produce the note—the proof the lender issued a mortgage. Apparently some people are having some success in delaying or stopping foreclosure by simply asking whomever is trying to foreclose to produce the original mortgage note. [...]

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House addresses foreclosure relief tomorrow

February 25, 2009

One of the problems perpetuating the foreclosure crisis is the inability of lenders and borrowers to renegotiate those loans. Lenders don’t want to take care of vacant homes, and many borrowers could stay in their home if those ridiculous adjustable rates were locked into a reasonable fixed rate. Renegotiating those loans means more money to [...]

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Foreclosed and nowhere to go? Stay put

January 30, 2009

So says Ohio congresswoman Marcy Kaptur. Stick it to the vultures until they prove they actually have the right to take your home, which is unlikely for many mortgage loans.
Embedded video from CNN Video

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Where to get help when you can’t pay your mortgage

December 28, 2008

If you are having trouble paying your mortgage, you need to get out your financial paperwork and seek help early. If you wait until you are already missing payments, you will not have the options that are available to you while you are still paying on time.
First, get out your bills, pay stubs, and other [...]

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America’s least welcome visitors: the evictors

December 23, 2008

Dateline NBC’s Chris Hansen followed sheriff’s officers in three states (Florida, Nevada and Michigan) in a heart wrenching piece on the victims of the recent mortgage crisis: families.
 

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New Program Could Help Half a Million Homeowners

November 11, 2008

New Program Could Help Half a Million Homeowners | ABC News.com

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7.5 million homeowners find selves ‘underwater’

October 31, 2008

7.5 million homeowners find selves ‘underwater’ | CNN

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Foreclosure: preying on the vulnerable

September 30, 2008

The StarTribune did a good piece on two vunerable adults who were preyed upon by unscrupulous mortgage brokers and lenders. While this article is about two people who were legally classified as vunerable adults, the reality is that when it comes to understanding personal finance, especially the more complex issues involved in subprime loans, many [...]

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Bailout’s dry run for troubled borrowers?

September 25, 2008

“The FDIC centers its approach on reducing monthly payments (principal, interest, taxes and insurance) to 38 percent of household income. It works with the first mortgage and with people who are delinquent or approaching a higher interest rate. It’s not charging fees or late charges.
On average, borrowers with modified loans are saving $430 a month, [...]

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Velshi: Please, keep paying your mortgage

September 25, 2008

Mortgages are moving around, not disappearing. Velshi: Please, keep paying your mortgage | CNN Money

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Fannie and Freddie taken over by the U.S. Government

September 8, 2008

The mortgage giants Fannie Mae and Freddie Mac funded more than two-thirds of U.S. home loans. If you are reading this and you own a home, that means there is a 66% chance that Fannie or Freddie wrote a check for your home.
But like everyone else, apparently, Fannie and Freddie were funding a lot of [...]

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Racial bias in mortgage lending

August 1, 2008

It should come as no surprise to anyone that despite laws against discrimination in lending and a few lawsuits, race still plays a role in the quality of loan a person gets. A new report by the National Community Reinvestment Coalition (NCRC) shows that minority consumers, regardless of income level, are most at risk of [...]

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Fed to Issue New Mortgage Lending Regulations Next Week

July 9, 2008

Fed to Issue New Mortgage Lending Regulations Next Week | Consumer Law & Policy

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Ex Countrywide Manager Exposes Its Lies

June 30, 2008

Today Show: “So, Countrywide employees were coaching them to lie?” Insider: “Yes.” Ex Countrywide Manager Exposes Its Lies | Consumerist

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