Category Archives: Mortgages

Are homes affordable yet?

Posted on June 17, 2012 by grim

From the Huffington Post: Buying A House Costs As Much As It Did During 2007 Housing Boom, Study Says In spite of falling housing prices, it still is as unaffordable to buy a house as it was during the height … Continue reading →

Posted in Economics, Housing Recovery, Mortgages | 46 Comments

No Borrower Left Behind

Posted on June 4, 2012 by grim

From American Banker: HARP Refis Skyrocket in 1Q HARP 2.0, the expanded GSE refinancing program unveiled late last year, kicked into full speed during the first quarter with volumes doubling to 180,000 units compared to the prior period. The program … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 121 Comments

How low can it go?

Posted on June 2, 2012 by grim

From CNN/Money: Mortgage rates keep plunging: 15-year dips below 3% Mortgage rates continued to plunge to new lows this week, with interest rates on the 15-year fixed rate mortgage dipping below 3% for the first time on record. The 30-year … Continue reading →

Posted in Economics, Mortgages, Risky Lending | 216 Comments

Shocking News: Banks Screw Borrowers

Posted on May 7, 2012 by grim

From Bloomberg: Look Who’s Pushing Homeowners Off the Foreclosure Cliff One of the more confounding aspects of the U.S. housing crisis has been the reluctance of lenders to do more to assist troubled borrowers. After all, when homes go into … Continue reading →

Posted in Mortgages, National Real Estate | 81 Comments

Do you have an FHA originated before June, 2009?

Posted on March 6, 2012 by grim

You are in luck. From the WSJ: White House Cuts Refinance Fees The U.S. government will cut fees on federally insured mortgages that have prevented some borrowers from refinancing their home loans at ultra-low interest rates, the latest in a … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 24 Comments

One step closer to settlement, at a price

Posted on February 7, 2012 by grim

From HousingWire: More than 40 states to sign foreclosure settlement More than 40 states will sign a settlement with the top-five mortgage servicers over alleged foreclosure abuses that arose more than one year ago, Iowa Attorney General Tom Miller said … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate, North Jersey Real Estate | 122 Comments

Foreclosure settlement to finally be reached today?

Posted on February 6, 2012 by grim

From Bloomberg: Foreclosure Deal Deadline Arrives as States Must Choose Whether to Sign On States that balked at bank liability releases in a proposed $25 billion nationwide settlement over foreclosure practices must decide by today whether its mortgage relief and … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate, Risky Lending | 106 Comments

Who is to blame? Borrowers or Banks?

Posted on December 20, 2011 by grim

From Reuters: Modification blunders bedevil U.S. housing recovery Shirley Burnell, a community activist from Oakland, California, has been trying to get her subprime loan restructured since 2007. She never missed a payment, but the adjustable rate mortgage she got in … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Risky Lending | 129 Comments

Any equity left to cash out?

Posted on November 8, 2011 by grim

From HousingWire: Freddie Mac cash-out levels hit 16-year low Monday, November 7th, 2011, 3:34 pm About 82% of homeowners who refinanced in the third quarter either decreased or maintained their principal balance, up from 77% in the previous quarter according … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 163 Comments

Wrong title – We already made the big bet

Posted on October 10, 2011 by grim

From the WSJ: U.S. Gambles With Mortgage Retreat hree years after virtually nationalizing the U.S. mortgage market, the government has embarked on a pullback to see whether private industry picks up the slack. Some people in the housing industry worry … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 88 Comments

Dirt cheap money still not spurring the market

Posted on October 7, 2011 by grim

From the Courier News: 30-year mortgage rate falls to 3.94% Depressed by investors seeking safe-havens, the average interest rate on a 30-year fixed mortgage fell this week to its lowest level ever, 3.94 percent, mortgage company Freddie Mac reported Thursday. … Continue reading →

Posted in Mortgages, National Real Estate | 81 Comments

Fed out of bullets?

Posted on September 29, 2011 by grim

From HousingWire: Bernanke calls for more housing help from Washington Federal Reserve Chairman Ben Bernanke delivered a speech Tuesday afternoon on emerging market economies, but it was his remarks about the state of the still-ailing U.S. economy in a Q&A … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate, Risky Lending | 148 Comments

Cue bailout attempt #74

Posted on September 7, 2011 by grim

From HousingWire: NY Fed economists urge coordinated mortgage, unemployment aid Two economists at the Federal Reserve Bank of New York said states can design successful programs to help unemployed borrowers with monthly mortgage payments only if they are tailored to … Continue reading →

Posted in Economics, Foreclosures, Mortgages, National Real Estate | 109 Comments

Incoming!

Posted on June 27, 2011 by grim

From the Star Ledger: Housing experts fear deluge when foreclosure filings start again In the past six months, an eerie feeling has settled in the offices of housing counselors and attorneys who confront the foreclosure crisis head-on and help distressed … Continue reading →

Posted in Foreclosures, Housing Bubble, Mortgages | 171 Comments

QRM – Kicking the market when it is down?

Posted on April 18, 2011 by grim

From HousingWire: Risk retention will produce higher quality mortgages, depress housing: S&P The new risk-retention rule will produce higher quality originations, as intended, but will also constrict lending and further depress the housing market, according to Standard & Poor’s. The … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 105 Comments