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Archive for May, 2010

Memorial Day

Memorial Day

On this Memorial Day let’s take a moment to remember those who served in the Armed Forces in past years and those who serve today. For most Americans the history of a lifetime is marked by its wars and battles. Since the Second World War, US military personnel have been involved in major conflicts in […]

Posted in: Library
Stock Prices At Heart Of Mortgage Crash

Stock Prices At Heart Of Mortgage Crash

A new and revealing study by the Mortgage Bankers Association argues that the introduction of risky loan products during the past few years was caused in large measure by efforts to pump up lender stock prices. Written by Clifford V. Rossi, a business professor at the University of Maryland, Anatomy of Risk Management Practices in […]

Posted in: Mortgages
Mortgage Modification or Refinance — What’s The Difference?

Mortgage Modification or Refinance — What’s The Difference?

Is it better to modify a mortgage or to refinance? While both result in new loan terms, the two choices are very different. When you refinance a mortgage you replace an existing loan with a new one. There’s no need to negotiate with the old lender because his mortgage claim will be extinguished. However, borrowers […]

Posted in: Mortgages
Who Pays Foreclosure Fees?

Who Pays Foreclosure Fees?

The foreclosure process is a big business, a reality which is not good news for those who face the loss of their home. However, who pays various foreclosure fees and costs depends on who winds up with the home. Missed Payments If an owner has missed one or more payments the lender will threaten to […]

Posted in: Foreclosures
$624 Million Settlement Doesn’t Mean A Dime For Mortgage Borrowers

$624 Million Settlement Doesn’t Mean A Dime For Mortgage Borrowers

According to the State of New York it has now achieved a $624 million preliminary settlement from Countrywide Financial Corporation and its accounting firm, KPMG. The arrangement must be approved by a California judge, perhaps in September It is alleged that “Countrywide, one of the country Technorati Tags: borrower, Countrywide, KPMG, loan, mortgage, new york, […]

Posted in: News
Federal Rules Make Predatory Loans Legal & Lawful

Federal Rules Make Predatory Loans Legal & Lawful

With all the yelling and screaming in Washington regarding financial reform the fact remains that predatory lending remains perfectly legal and will be perfectly legal once a financial reform package is passed. “The Wall Street reform bill in Congress represents the strongest consumer financial protections in history,” says President Obama. “You’ll be empowered with the […]

Posted in: Mortgages
Permanent Federal Loan Modifications Near 300,000

Permanent Federal Loan Modifications Near 300,000

The federal government says 299,092 permanent modifications have now been completed under the Making Home Affordable program as of the end of April. The number is up almost 13 percent over March. The Treasury Department and the Department of Housing and Urban Development (HUD) say that 3,275,249 loans were at least 60 days late as […]

Posted in: Foreclosures
Is The FHA Moving Toward 1% Up-Front Insurance Premiums?

Is The FHA Moving Toward 1% Up-Front Insurance Premiums?

Is the up-front insurance charge for FHA mortgages going to fall? FHA-backed mortgages are now a huge part of the financing landscape, but since April the up-front mortgage insurance premium has been 2.25 percent for most FHA borrowers. Now there’s some discussion regarding the idea of a 1 percent up-front MIP — but a higher […]

Posted in: Mortgages
How To Get A New Job Using Google AdWords

How To Get A New Job Using Google AdWords

Getting a job is no easy matter in the current economy, and getting a good job — the job you want — is even harder. Imagine then when someone comes up with a new way to get employment that’s smart, quick, web-savvy and cheap. An idea you can copy. Alex Brownstein wanted an advertising job […]

Posted in: Jobs
Can We Have A Paperless Real Estate Closing?

Can We Have A Paperless Real Estate Closing?

Given the widespread use of electronic devices for just about everything — and given the growing volume of ecommerce — it’s not unreasonable to ask if we can have paperless closings, events sealed with electronic signatures. For the moment and most-likely for a long time to come the answer is no. The problem is not […]

Posted in: Closing