Good news for Bank of America borrowers who have fallen on hard times. Bank of America is working on a plan to either forgive or defer mortgage payments for up to nine months for borrowers who have been laid off because of the economic recession. According to the bank, if a borrower finds new e
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04/19/2010
I have bloged about this subject before and the political pressures to reduce principal balances for those severely underwater. As we know in the real estate profession, value are up and down just like the stock market. Sometimes we are in the black and others in the red, but we just wait out t
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04/19/2010
In an investigation by the Senate Permanent Subcommittee on Investigations, testimony has revealed that the Office of Thrift Supervision, a federal agency tasked with overseeing lenders, had been negligent in its oversight of Washington Mutual’s underwriting of subprime mortgages. Additionally,
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04/17/2010
Today Fannie Mae announced the decision to shorten the time a borrower has to wait before they can qualify for a mortgage after a short sale or foreclosure. These new guidelines come a week after the government’s Home Affordable Foreclosure Alternatives (HAFA) program hit the market, and Fannie
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04/17/2010
Here are some exciting upcoming events in Laguna Beach promoting sustainable living and healthy lifestyles! Rethink Change: What: A forum to discuss changing lifestyles, ways of thought and our community in order to adapt and embrace the changes reflected in the world at large. Speakers include M
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04/09/2010
Here are some exciting upcoming events in Laguna Beach promoting sustainable living and healthy lifestyles! Rethink Change: What: A forum to discuss changing lifestyles, ways of thought and our community in order to adapt and embrace the changes reflected in the world at large. Speakers include M
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04/09/2010
In a lawsuit backed by the testimony of two former Wells Fargo employees, the bank is accused of targeting minority neighborhoods in Memphis, Tennessee with higher rate loans as opposed to the white neighborhoods in the city. The practice of targeting disadvantaged borrowers with riskier loans i
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04/09/2010
HousingWire associate publisher and former subprime lender Richard Bitner testified to the Congressional Financial Crisis Inquiry Commission on the reasons behind the subprime mortgage collapse on Wednesday in an effort to explain just who was responsible for the collapse that eventually led to
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04/09/2010
With the end of the government purchase of mortgage backed securities, rates have begun to climb and as a result, applications for refinances have gone down significantly from last week’s numbers. According to the Mortgage Banker’s Association, the refinance index decreased almost 17% from last
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04/08/2010
With the end of the government purchase of mortgage backed securities, rates have begun to climb and as a result, applications for refinances have gone down significantly from last week’s numbers. According to the Mortgage Banker’s Association, the refinance index decreased almost 17% from last
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04/08/2010
