New Mortgage Rules
Most of us have little trouble shopping for a car. When we compare mileage, horse power and options like power steering and transmissions, we get it. In fact teenage boys can…
Most of us have little trouble shopping for a car. When we compare mileage, horse power and options like power steering and transmissions, we get it. In fact teenage boys can…
Despite a concerted effort by the Obama Administration with its Making Home Affordable Program to modify and refinance home loans, data released this week shows that only 9% of the…
Yesterday the Federal Trade Commission, in a unanimous 4-0 vote sought to protect distressed mortgage borrowers from one of the biggest sources of fraud in the loan modification business, charging…
One of the most significant factors in mortgage delinquency is whether or not a home is underwater. Some like University of Arizona law professor Roger Lowenstein in yesterday’s NY Times…
When I first got a place of my own, I was told that a week of income should cover my housing expenses. Today, the US Department of Housing and Urban…
Not all distressed borrowers can save their homes. As mortgage relief triage, the Obama Administration has emphasized loan modification and refinance , yet the effort is falling far short of the…
Today the US Treasury passed a benchmark in its efforts to help troubled homeowners. Half a million borrowers have had their mortgage payments modified under the Obama administration’s Making Home…
The Obama Affordability Plan offers financial incentives to mortgage lenders to modify home loans until the Housing to Income Ratio (HTI) is down to 31% of a homeowner’s gross monthly…
Most programs developed by the Obama administration and mortgage lenders require the homeowner to demonstrate a ‘hardship’. A hardship is the term lenders use to differentiate between a homeowner whose…
Losing a home is devastating no matter what your background, but proportionally Black and Latino communities have suffered more in the foreclosure crisis, according to a new study from the…