Harvey Collier, a mortgage broker in Fort Lauderdale, Florida, says he gets as many as 10 calls a month from people planning to default on their loans. The twist: They first want financing to buy another home. » Read more…
Tag Archives: Mortgage Lenders
‘Buy and Bail’ Homeowners Get Past Loan Restrictions
Posted by MORTGAGE BLOG NEWS on March 2, 2011
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Mortgages: How to Pay Less
Posted by MORTGAGE BLOG NEWS on March 2, 2011
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The interest rates for 30-year fixed-rate mortgages are in free fall, averaging just 4.44% on Aug. 12, according to Freddie Mac. Not only was that down from 5.07% in January, it was the lowest since Freddie began keeping records in 1970. » Read more…
Low Rate Mortgage Lock Out
Posted by MORTGAGE BLOG NEWS on March 2, 2011
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Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing little to help most people. » Read more…
Obama Administration Considering New Mortgage Industry Fees
Posted by MORTGAGE BLOG NEWS on March 2, 2011
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President Barack Obama’s administration may propose that any government backing of mortgages be funded by fees on mortgage lenders, The Wall Street Journal reported. » Read more…
Good credit score required for low mortgage rates
Posted by MORTGAGE BLOG NEWS on March 2, 2011
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The average for 30-year fixed-rate mortgages has dropped to the lowest level in decades for the ninth time in 10 weeks. Many are rushing to take advantage of those low mortgage rates, but the truth is, it’s not as easy to do as it used to be. The reason: Some say people in our area are paying for others’ mistakes. » Read more…