Mortgages Archives

NEW YORK (MainStreet) — State attorneys general want banks and lenders to include mortgage principal write-downs in their loan modification programs, effectively reducing the amount of the home loan itself. Read more»

NEW YORK (MainStreet) — There's some seemingly good news on the mortgage and banking front: Mortgage fraud is waning, according to a new study from LexisNexis. But the new data comes with a twist, as reduced demand for home ownership is the biggest reason mortgage fraud is down. Read more»

NEW YORK (MainStreet) – Adjustable-rate mortgages, reviled a couple years ago for quickly hiking their rates to unsustainable levels that lead many homeowners to foreclose during the financial crisis, are staging a bit of a comeback. The Mortgage Bankers Association says ARMs accounted for about 6% of new mortgages written in April, up from just 1.5% in April 2009. Read more»

NEW YORK (sbup) — The president’s deficit reduction plan aims to take a healthy chunk out of the popular mortgage interest deduction, a move that taxpayers are already rebelling against. Read more»

NEW YORK (MainStreet) – Here’s an interesting idea: A firm in Orange, Calif. will help pay your mortgage if you allow it to paint its logo on your home. The company is called Adzookie, and it’s already receiving a flood of applications to get its paint on. Read more»

NEW YORK (sbup) — A new study by Wells Fargo (Stock Quote: WFC) suggests that Americans, though rattled by dwindling home values, still believe making their mortgage payments is the right thing to do, even if their homes are flirting with underwate Read more»

NEW YORK (sbup) — If the government shuts down because of the Congressional budget impasse, that could mean bad news for the housing market. The Federal Housing Administration will close and the FHA has a huge impact on home sales. Read more»

NEW YORK (sbup) — The federal government has given the green light for five states to start lending money to underwater homeowners. The loans of up to $50,000 target mainly unemployed homeowners, a significant portion of the U.S. Read more»

NEW YORK (MainStreet) — As we previously reported, the gap between 15- and 30-year mortgage rates is especially high these days, offering huge interest savings to homeowners who can shoulder the higher monthly payments on the 15-year deal. Read more»