Foreclosures crisis caused by investors. And lenders. And politicians. And buyers. [Tampa Bay Area] A simple narrative is often used to characterize the foreclosure crisis at the heart of America’s Great Recession: While banks are at fault for approving risky loans, people who lived in the homes are as much to blame. Vanity Fair magazine …
Monthly Archives: November 2009
Q&A: How To Rent Your Home From Fannie Mae
Q&A: How To Rent Your Home From Fannie Mae Fannie Mae announced Thursday that it will let troubled homeowners rent their homes instead of losing them through foreclosure and eviction. The new program is aimed at providing greater home security to distressed borrowers who can’t afford their mortgage payments and can’t get a loan modification, …
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The Economy May Be Recovering, But Miami’s Foreclosure Mania Isn’t Close To Over [South Florida]
The Economy May Be Recovering, But Miami’s Foreclosure Mania Isn’t Close To Over Riptide was feeling all warm and fuzzy this morning. No, it wasn’t just from all the vodka in our coffee. (What, like you don’t start your day with a little ‘Russian java’?) The latest employment numbers came out this morning, and it …
Consider these factors before refinancing your home
Consider these factors before refinancing your home Dear Liz: When does it make sense to refinance a home? I have a 30-year, fixed-rate jumbo loan. The loan is just over 2 years old with a rate of 6.5%. Should I refinance to 5.75% with zero points? I make extra payments every month with the intention …
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Mortgage modifications are becoming more common, and more lenient
Mortgage modifications are becoming more common, and more lenient Banks and mortgage companies have foreclosed on 5,000 residential properties in the St. Louis region so far this year. But a growing number of homeowners are managing to save their houses by convincing lenders to cut their monthly payments. Borrowers just shouldn’t expect an easy time. …
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