Apr 26
Lenders Embrace Home Equity Loans Again. As housing values rise, home-equity loans and lines of credit are staging a comeback, MSN Money reports. In late 2008 as the housing market slowed dramatically, home-equity borrowing came to nearly a standstill as lenders became cautious because values were falling so quickly. By late 2011, nearly a …
Apr 26
Report: ‘Alarming’ Rate of Re-Defaulters With HAMP A new report finds that borrowers who had their mortgage payments reduced as part of the Home Affordable Modification Program are still failing at an “alarming rate” to stay current on their mortgage. The borrowers had their mortgage payments reduced, on average, by more than $400 a …
Apr 25
Banks Increasingly Turning to Deeds-in-Lieu of Foreclosure Short sales and loan modifications have grown to help offset foreclosures, but banks are also turning to deeds-in-lieu of foreclosure more too. Slightly above 20,000 deeds-in-lieu of foreclosure occurred nationwide in 2012, which is up nearly 40 percent from 2011, according to RealtyTrac. Some states are even …
Apr 25
Foreclosure Crisis Melting Away? Foreclosures are falling quickly as more borrowers keep up with their mortgage payments and banks complete more loan modifications or approve short sales to avoid foreclosures on their books. For the first time since 2008, the number of borrowers who are behind on their payments or in foreclosure dropped below …
Apr 05
Home Prices Pick Up at Fastest Pace in 7 Years. Home prices nationwide, which includes distressed sales, soared 10.2 percent year-over-year, according to CoreLogic’s February report. It’s the largest year-over-year increase in home prices since March 2006. It also marks the twelfth consecutive monthly increase in national home prices, according to CoreLogic’s report. When …
Apr 05
3 Ways to Get Unfriended on Your Social Networks. Social media experts at SocialToaster in Baltimore surveyed social media users to find out what are the most common grounds for unfriending or unfollowing someone. Here are three offenses that emerged from their survey: 1. Repetition again and again: 51.2 percent say that users who …
Apr 04
2717 S Kent Rd Broomall, PA 19008 home for sale Delaware County. 3 bed, 3 bath 2,461 sqft Single-Family Home $349,000 Single Family/Detached, Colonial home for sale at 2717 S Kent Rd Broomall, PA 19008 Home for sale at 2717 S Kent Rd Broomall, PA 19008. Spacious stone colonial in the Foxcroft section of …
Apr 02
Millennials Embrace Unique, High-Tech Spaces. The Millennial generation is about 90 million strong—forming the largest demographic wave in the country’s history—and some reports suggest they’re readying for home ownership. Millennials’ entrance into home ownership has been delayed due to the recession, high unemployment, and high student loan debt. They’ve been living in their parents’ …
Apr 02
Mortgage Counseling Pays Off, Study Shows. Home buyer counseling leads to significantly lower mortgage default rates, according to a new study by NeighborWorks America. The study found that borrowers who went through a prepurchase counseling program were nearly a third less likely than non-counseled borrowers to fall behind on their mortgage payments by 90 …
Apr 01
New Database Allows Americans to Post Mortgage Gripes. Americans have a lot of gripes when it comes to mortgages. Of the 90,000 consumer complaints that have been filed so far to the Consumer Financial Protection Bureau’s new consumer complaint database, 50,000 have related to mortgage issues. Complaints over loan modifications, foreclosures, and other servicing …
Apr 01
FHA Premiums to Rise April 1. Starting Monday, borrowers will be charged higher mortgage insurance premiums on new Federal Housing Administration loans. The annual fee on the majority of FHA loans will rise by 0.1 percent on April 1. This marks the third time the FHA has increased its mortgage insurance premiums in two …
Mar 29
Are First-Time Buyers Being Shut Out? Across the country, first-time home buyers have been putting in offers on homes, but many of them keep losing out. One working mother says she’s put in 30 offers on homes in the $100,000 range in the Atlanta area, bidding $2,500 to $3,000 above the asking price, but …
