While millions of Americans were affected by the robo-signing scandal that resulted in massive amounts of improper foreclosures over the …
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homeowners
For much of the last year, the housing market has generally been on a slow but steady path toward improvement, …
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With the looming fiscal cliff, many of the nation’s lawmakers are debating exactly what federal programs and tax breaks to …
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The housing market’s downturn was so severe that it has taken years to even begin approaching pre-meltdown normalcy, but as …
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The government is helping troubled mortgage borrowers by the tens of thousands, however some analysts say that as many as 12 million borrowers are facing foreclosure over the next three years.
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In news released yesterday, Treasury Department officials are having serious discussions with loan servicers – otherwise known as lenders – to ramp up loan modification activity. The goals of the drive to achieve stability in the housing market were substantial: a target of between 3 and 4 million homeowners currently at risk of foreclosure. They were supposed to be helped by the Home Affordable Modification Program.
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I looked at the rate sheets today and I am almost astounded to see that 30-year fixed rate mortgages are back down to 4.5 percent. I wonder where everyone is. A 5/1 ARM is at 3.75 percent and you can even get a $1,000,000 5/1 loan for 4.75 percent. These are terrific rates, and last spring when rates were like this, we were working on Saturday to keep up with the frenzy. Where did everyone go?
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One in 171 households fell into foreclosure during the second quarter of this year, 739,714 homes in all––that’s up 121% from the same period last year.
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