Mortgage Loans Articles

swat team
Oct, 12, 2012
Home loan lenders are once again in the crosshairs of federal regulators. The government is beginning a nationwide crackdown on home loan lenders for past crimes against borrower victims.
democratic donkey seal
Oct, 4, 2012
At long last, it seems that one of the banking giants responsible for the financial crisis is going to pay for its crimes. Or is it? On October 1, the Justice Department’s federal mortgage task force filed a civil suit against Bear Stearns & Company, which is now a part of JPMorgan Chase. According to Attorney General Eric T. Schneiderman, co-chairman of the Residential Mortgage-Backed Securities Working Group, Bear Stearns defrauded investors who bought mortgage loan securities that were packaged from 2005 to 2007.
mortgage refinance loan rate doubling
Sep, 27, 2012
Mortgage refinance loan applications have outpaced new home loan applications despite increased home construction and efforts by the Federal Reserve to promote home buying. While this may be great for mortgage refinance loan lenders, it may not be great for those looking to boost the housing industry with new mortgage originations. The reason for the mortgage refinance loan application increase may show that borrowers are still “gun shy” about taking out new home loans.
top five in gold
Sep, 25, 2012
Reeling from the continued credit crunch, banks have tightened their lending standards. Fortunately, home loans are available to qualified veterans looking to purchase a home. In the mortgage process for veterans, the Department of Veterans Affairs is not the direct lender. Rather, private lenders offer VA-backed loans that are guaranteed by the federal government. Fortunately for prospective borrowers that qualify, these mortgages feature plenty of benefits. Here are five of the best reasons why borrowing a VA home loan is an excellent decision.
House on broken ground
Sep, 20, 2012
In case Americans thought the mortgage industry had cleaned up its act since the disastrous housing bubble burst, some all-too-familiar names might make them think again. Fannie Mae and Bank of America made a troubling mortgage loan deal last year—the details of which have only recently come to light.
Woman calling for silence
Sep, 14, 2012
Fraud is an unfortunate threat in many situations where money changes hands. Even in home purchases fraud can rear its ugly head. One way some home sellers and buyers commit fraud is through silent second mortgage loans. A silent second is a type of second mortgage loan that is part of a home sale transaction without the knowledge of the first lender. The “silent” part refers to the seller and buyer not “speaking” to the first financer about a second mortgage loan. In most instances, silent second home financing is a form of fraud and thus highly illegal.
Three doors opening
Sep, 6, 2012
As the slow economy continues to cling onto America’s once strong back, something else continues to cling to the minds of many Americans—the American dream of owning a home. While many Americans lost their homes to mass foreclosures and repossessions at the height of the recession, there are still many Americans (including some of those former homeowners) that dream of one day living in their own home.
The Risks of HELOCs
Aug, 24, 2012
HELOC is an acronym for “home equity line of credit.” When obtaining this form of financing, borrowers use their home as collateral for what’s called a line of credit. This line of credit is a well of money that can be tapped into whenever the borrower chooses and its value is based on the existing equity in a home. Equity is simply the value of a home minus the amount of outstanding debt against that home. Borrowers are able to withdraw money from this line of credit, but whenever they do so, they are charged interest.
FHA Home Loans May be the Housing Markets Savior
Aug, 20, 2012
The housing market and the financial market were the two industries most devastated by the housing bubble, financial crisis, and subsequent recession. Since the recession began, millions of homeowners have been foreclosed upon. The housing market shrank as jobs and the income necessary to pay for homes evaporated. Consequently demand for all new homes vanished. Banks rose to fully own millions of properties across the country—homes that sat empty, free of the families that once occupied them.
Crystal ball with a dollar displayed
Jul, 9, 2012
Since the beginning of May, the 30-year fixed mortgage interest rate has been occupying printed and virtual news headlines across the country. Writers and editors are running out of synonyms for the phrase “breaking historic records,” as week after week, Freddie Mac’s mortgage loan survey reveals the 30-year rate shattering the record floor. These recent trends seen in the 30-year fixed mortgage loan rate is prompting consumers everywhere to at least entertain the idea of homeownership. And for those who have been teetering on the edge, these sub-4 percent rates might just be the extra push they need.