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Mortgage News

News on Mortgage continually updated from thousands of sources around the net.

3 min ago | NBC Los Angeles

Falling Rent Rates to the Rescue

Some Southern California homeowners, who are on the verge of foreclosure, are looking to the rental market for assistance, and they are finding that monthly rents are on the decline, according to an article from the Los Angeles Times .

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Related Topix: California, Foreclosures, Home, Mortgage, Personal Finance, Los Angeles Metro

4 hrs ago | The Herald

New formula has fewer a under water'

A major provider of mortgage data said Tuesday that the percentage of "underwater" homeowners - people who owe more than their homes are worth - is significantly lower than the company previously reported.

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Related Topix: Mortgage, Personal Finance, Home

9 hrs ago | New York Times

Dubai's Move on Debt Rattles Markets Worldwide

Dubai, in debt from financing a building boom, is seeking to defer payments. The announcement - the global high finance equivalent of a homeowner asking the bank to allow six months of skipped mortgage payments, presumably because the homeowner was out of cash - sowed fear of a contagion of instability that could roil markets that are only now ...

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Related Topix: World News, United Arab Emirates, Home, Mortgage, Personal Finance, Business News

13 hrs ago | San Jose Mercury News

Harney: Law professors urges struggling homeowners to walk away from mortgages

Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth.

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Related Topix: Home, Mortgage, Personal Finance, University of Arizona, Foreclosures, Business News

Sat Nov 28, 2009

Click2Houston.com

Administration Plans New Efforts On Foreclosures

The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday.

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Related Topix: Foreclosures, Home, Mortgage, Personal Finance, Housing

The Post Chronicle

Fannie Mae To Tighten Lending Standards: Report

Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.

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Related Topix: Mortgage, Personal Finance, Home

KIDK TV

U.S. pay czar OKs changes for 2 top BofA execs

Chief Financial Officer Joe. L. Price and mortgage unit President Barbara J. Desoer will earn less salary in 2009 than they did last year following approval by the officer of the special master for TARP Executive Compensation, Bank of America said in papers filing with the Securities and Exchange Commission.

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Related Topix: Banking, Bank of America, Financial Services, Home, Mortgage, Personal Finance

Reuters

Los Angeles' budget gaps may force dramatic change

Los Angeles must take dramatic steps in coming months to bring its budget back into balance, including measures to slim the size of its government and reduce how much it spends on pensions for retired employees, the city's top budget official said on Wednesday.

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Related Topix: Los Angeles Metro, Pension, Personal Finance, Foreclosures, US News

KTNV-TV Las Vegas

Many Reno-area homeowners have negative equity

A new report shows that more than half of Reno-area homeowners with a mortgage owe more to the bank than their homes are worth.

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Related Topix: Home, Mortgage, Personal Finance, Las Vegas, NV, Housing

Fri Nov 27, 2009

Clover Herald

Fed lending for emergency bank loans rises a bit

Banks borrowed slightly more from the Federal Reserve's emergency lending program over the past week.

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Related Topix: Home, Mortgage, Personal Finance

MyFoxPhoenix

Groups Contend Bills Cross Legal Lines

The Arizona Supreme Court is being asked to overturn the Legislature's use of budget laws to set state policy on topics ranging from teachers' seniority rights and immigration enforcement to mortgage lawsuits and municipal building codes.

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Related Topix: Arizona, Arizona Government, Immigration Reform, Personal Finance, Arizona State University

Kansas.com

Housing data points to rocky rebound

For sale sign for a new home is shown in East Palo Alto, Calif., in this Dec. 16, 2008 file photo.

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Related Topix: Housing, Pittsburgh Metro, Foreclosures, Home, Mortgage, Personal Finance

Residential Real Estate

Study: 16% of Dayton homes a underwatera

More than 16 percent of homeowners in the Dayton area owe more on their home than it is worth.

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Related Topix: Dayton, OH, Home, Mortgage, Personal Finance

Thu Nov 26, 2009

Empire State News

Real estate developer sentenced in $27 million mortgage fraud and Ponzi scheme

Manhattan real estate developer Ivy Woolf-Turk was sentenced yesterday to five years in prison for her participation in a $27 million Ponzi scheme involving obtaining fraudulent loans secured by nonexistent mortgages.

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Related Topix: Home, Mortgage, Personal Finance

Bloomberg

Fixed 30-Year Mortgage Rates in U.S. Fall to 4.78%, Match April Record Low

Fixed 30-year mortgage rates dropped for a fourth consecutive week, matching a record low set in April, in a decline that may further support increasing sales in the battered housing market.

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Related Topix: Home, Mortgage, Personal Finance, McLean, VA, Housing, Home Selling

Oregonlive.com

Former broker sentenced to 41 months for mortgage fraud

Former Portland mortgage broker Lee Howlett, labeled by federal prosecutors "a serial, unrepentant con-artist," was sentenced to 41 months in prison Tuesday.

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Related Topix: Home, Mortgage, Personal Finance, Prison

Canada.com

Home ownership costs on the rise

New home construction rose by a seasonally adjusted an annual rate of 157,300 units in October, up from 149,300 in the previous month, according to Canada Mortgage and Housing Corporation.

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Related Topix: Home, Mortgage, Personal Finance, North America, Canada, World News, Housing

Daily Mail

U.S. couple's 370,000 mortgage wiped out by judge angry at bank's 'repulsive' behaviour

Angry: Judge Jeffrey Spinner called OneWest bank 'repulsive' A New York couple got an early Christmas present when an angry judge wiped out their 370,000 mortgage.

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Related Topix: Home, Mortgage, Personal Finance, New York Metro

The Daily Breeze

LA County home sales down 5.6% from September

Home sales in Los Angeles County rose 1.8 percent in October compared to the same time last year, but were down 5.6 percent from the previous month, according to figures released today.

1 comment

Related Topix: Housing, Los Angeles County, CA, Real Estate, Home, Mortgage, Personal Finance

Wed Nov 25, 2009

SanLuisObispo.com

BNP Paribas, Deutsche Bank sue Bank of America

Deutsche Bank AG and a BNP Paribas unit sued Bank of America NA on Wednesday over allegations the bank failed to pay back $1.73 billion in secured notes.

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Related Topix: Banking, Deutsche Bank AG, Financial Services, Home, Mortgage, Personal Finance

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