103-Year-Old Texas Woman Fights to Keep Her House

Mortgages

103-Year-Old Texas Woman Fights to Keep Her House

103-Year-Old Texas Woman Fights to Keep Her House

A 103-year-old Texas woman is fighting to keep her home after she let her insurance lapse, a CBS affiliate in the Dallas/Fort Worth area reports. Myrtle Lewis told CBS she accidentally let her insurance expire and renewed it after noticing the mistake, but the gap in coverage apparently violated the loan agreement for her reverse… Read More

Should You Consider Buying a Short Sale?

Mortgages

Should You Consider Buying a Short Sale?

Should You Consider Buying a Short Sale?

When you are in the market to buy a home, finding the right home in your price range can be challenging. The goal is usually to find a balance between the things you want in a home and affordable monthly payments. This usually leads to some compromises and it’s not always easy when you’re making… Read More

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

Mortgages

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

How Soon Can I Buy a House After Bankruptcy or Foreclosure?

Bouncing back from bankruptcy or foreclosure takes time. But that doesn’t mean you have to shelve your homebuying aspirations for some interminable stretch. They’re called “boomerang buyers” for a reason. Consumers may be able to close on a home loan just a couple years removed from one (or both) of these fiscal hiccups. A lot… Read More

The States With the Highest Foreclosure Rates

Mortgages

The States With the Highest Foreclosure Rates

The States With the Highest Foreclosure Rates

U.S. foreclosure activity declined in September, reaching the lowest number of properties with a foreclosure filing since July 2006: 106,866. That’s down 9% from August and down 19% from last September, according to the monthly RealtyTrac foreclosure report, marking the 48th consecutive month of year-over-year declines in the foreclosure rate. September was also the final… Read More

What Is a Short Sale?

Mortgages

What Is a Short Sale?

What Is a Short Sale?

The world of real estate can be confusing, and sometimes, even with careful planning, mortgage payments can be difficult to make. If you find yourself faced with options like foreclosure, bankruptcy or a short sale, it’s important to understand your choices. A short sale is for those who do not qualify or do not want… Read More

What Happens If I Stop Paying My Mortgage?

Mortgages

What Happens If I Stop Paying My Mortgage?

What Happens If I Stop Paying My Mortgage?

Homeowners who stop paying their mortgage do so for a host of reasons. Lives and financial circumstances change. Job loss or relocation might put consumers in a bind. Housing values can plummet, leaving homeowners owing far more than the property is worth. About 6% of all mortgage loans were at least one payment behind at… Read More

The New Reverse Mortgage Rule That Could Save Your House

Mortgages

The New Reverse Mortgage Rule That Could Save Your House

The New Reverse Mortgage Rule That Could Save Your House

Imagine receiving a foreclosure notice after your spouse dies, even though you are current on all of the payments. That’s just what happened to some widows and widowers who took out a reverse mortgage while their spouses were still alive. Reverse mortgages allow individuals or couples over the age of 62 to receive cash payments… Read More

Why Is the City of LA Suing a Mega-Bank?

Mortgages

Why Is the City of LA Suing a Mega-Bank?

Why Is the City of LA Suing a Mega-Bank?

The city of Los Angeles filed a lawsuit May 30 against JPMorgan Chase & Co., accusing the nation’s largest bank of pushing minority consumers into risky, unaffordable mortgages. City Attorney Mike Feuer filed similar suits against Wells Fargo & Co., Citigroup Inc. and Bank of America Corp. last year, according to a report in the… Read More

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