Half of Bank of America’s Mortgages are BAD
When the federal government talked Bank of America to take over Countrywide Mortgage they really hamstrung the North Carolina bank. After suffering multi billion dollar losses over the past couple[...]
Category: Mortgage
Freddie Mac and Fannie Mae To Be Shut Down?
Today the Obama administration outlined 3 different scenario’s that would shut down Freddie Mac and Fannie Mae as the backstops of the mortgage markets. All of the administration’s proposals envision a[...]
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The Coming Battle Over The Mortgage Interest Deduction
The real estate and mortgage lobby will be going to battle in Washington DC soon as the deficit commission is calling for the elimination of the mortgage interest deduction. For[...]
Do Our Politicians Really Want To Fix Freddie Mac and Fannie Mae?
As we head to the end of the 2010 election cycle, Republican’s are announcing in their Pledge to America that they want an end to the government takeover of Freddie[...]
Taking Out A Mortgage? Banks Will Monitor Your Credit 24/7 Now
Fannie Mae is taking a dim view of mortgage borrowers who try to scam the system by taking out new loans while their mortgage is being processed. Typically banks will[...]
Wells Fargo Requesting Motivation Letter From Potential Borrowers?
I have never heard of having to write a letter to the mortgage company explaining why a person needed a home loan and certain family circumstances associated with this loan.[...]
Freddie Mac’s and Fannie Mae’s Relationship With Countrywide Raises Eyes
One of the big questions that has been asked in the aftermath of the housing meltdown has always been, how did things get so out of control? New information coming[...]
Cash In Refinancing May Be A Smart Move
If you are underwater on your present mortgage you probably think refinancing is insane. But with the low interest rates available for homeowners with good credit it may make sense.[...]
Mortgage Default Notices Down 43 Percent in California
Some good news for the California real estate market came out, mortgage default notices for the 2nd quarter of 2010 are down 43.8 percent. That is great news as the pressure of[...]
13 Year Low For Mortgage Applications
Typically the summer months are the busiest time of year for home sales. But when the Home Buyer Tax Rebate expired it motivated buyers and sellers to move in the[...]
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