Dec 03
Trouble Ahead on Home Equity Loans? Mortgage delinquencies are on the rise for home equity lines of credit that were taken out during the housing bubble, as well as others that are reaching the 10-year mark, Equifax data shows. In most cases, after these loans hit the 10-year mark, borrowers must start paying not …
Nov 25
Fears Brew Over Mortgage Fraud in Jumbo Loans The growing popularity of jumbo loans is increasing the potential for mortgage fraud with these high-priced loans, according to Interthinx in its latest mortgage fraud risk report. In recent months, jumbo rates, in some cases, have been lower than conforming rates, leading to them grow in …
Nov 22
Home Buyers Plan to Make a Move This Winter Home buyers who weren’t successful this summer at finding a home due to limited inventories and competition from all-cash offers are looking to retry their luck in the winter, according to realtor.com®’s Winter Home Buyer Report. “This summer and spring, home-buying season was particularly …
Nov 21
Home Remodeling Posts Strongest Growth in Years Home remodeling is posting a strong recovery as more home owners regain equity and look to spruce up their homes. “In the near term, homeowner spending on improvements is expected to see its strongest growth since the height of the housing boom,” says Kermit Baker, director of …
Nov 20
5 Lenders Boasting Highest Customer Satisfaction Customer satisfaction with mortgage lenders reached a seven-year high this year, according to J.D. Power’s 2013 U.S. Primary Mortgage Origination Satisfaction Study. The study measures customer satisfaction in four key areas: application/approval process, loan representative, closing, and contact. “As refinancing volumes are on the decline, consumers contemplating purchasing a …
Nov 19
Census: Big Cities’ Home Values Fared Worse in Recession The largest metros in the country saw some of the most significant declines in median home values following The Great Recession, according to a newly released Census report. The report shows that 43 of the 40 largest counties posted significant declines in median home values …
Nov 19
Home Repossessions Fall as Investors Step in. The number of foreclosures and repossessions by banks is dropping, and investors may be the ones driving the decrease. Investors are increasingly buying up properties when they go on sale at public auction, according to RealtyTrac. With an improving housing market, “investors are back in the …
Nov 18
Mortgage Rates Move Higher Again Fixed-rate mortgages are on their way up this week for the second consecutive week, with the 30-year fixed-rate mortgage reaching its highest level since Sept. 19 when it averaged 4.50 percent, Freddie Mac reports. “Fixed mortgage rates increased this week following stronger than expected economic data releases,” says Frank …
Nov 15
Government Shutdown Proved Costly to Taxpayers The Obama administration issued a report detailing the impact of the two-week government shutdown in October that furloughed government employees and has been blamed on putting the economy — including the housing market — in a holding pattern. The shutdown caused back-pay of furloughed government employees to amount to …
Nov 15
Payday for Borrowers After Foreclosure? More than 1,000 home owners who lost their homes to foreclosure in the Phoenix metro area may be eligible to recoup thousands of dollars in cash due to rising home prices. Many foreclosures are selling for more because of the general uptick in home prices, and some are even fetching …
Nov 14
Loan Demand Softening This Month Loan demand for home purchases and refinancings fell last week as mortgage rates edged up. The Mortgage Bankers Association reports that its mortgage application index — which reflects both refinancings and loans for home purchases — dropped 1.8 percent for the week ending Nov. 8. That follows a revised …
Nov 14
Fake Online Reviews Become Growing Problem Seventy percent of people trust online reviews, but only 14 percent believe online advertisements — which makes a business’ focus on managing its online reputation increasingly important. But a growing number of fake online posts that offer up bad reviews about a company is posing a challenge, Forbes reports. …
