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Archive for November, 2010

8 million consumers drop credit cards, improve mortgage standing

8 million consumers drop credit cards, improve mortgage standing

More than eight million consumers stopped using credit cards during the past year, a trend which will help people qualify more easily for real estate mortgages and reduce monthly living costs. A new study by TransUnion shows that the use of bank-issued, general purpose credit cards has fallen significantly during the past year. “This deleveraging,” […]

Posted in: News
The mortgage foreclosure legislation Congress won’t touch

The mortgage foreclosure legislation Congress won’t touch

Stashed away in a drawer somewhere on Capitol Hill is a simple piece of legislation that would have done much to stop the mortgage mess, robo-signing, unfair foreclosures, and the growing claims against lenders. But Congress has not touched the Produce the Note Act since it was first introduced in February 2009 — nearly two […]

Posted in: Foreclosures
Thanksgiving, foreclosures, mortgages & jobs

Thanksgiving, foreclosures, mortgages & jobs

Another year is drawing to an end but for many of our citizens times have been tough in terms of foreclosures, mortgages, jobs and economic news in general. If you’re lucky enough to celebrate Thanksgiving with a full plate, a current mortgage and a few dollars in the bank then indeed you have much for […]

Posted in: News
Military families ask: what’s a VA mortgage entitlement?
By November 23, 2010 0 Comments Read More →

Military families ask: what’s a VA mortgage entitlement?

Entitlement is one of the cornerstones of the VA Loan Guaranty program. It’s also one of  the most consistently confusing aspects of the whole eligibility and financing process. And it’s not just borrowers — the nooks and nuances surrounding entitlement confound industry experts, too. Veterans eligible to participate in the VA Loan Guaranty program have anentitlement, which […]

Posted in: Mortgages
Mortgage foreclosure rescue scams (finally) blocked by feds

Mortgage foreclosure rescue scams (finally) blocked by feds

New rules from the Federal Trade Commission will make it more difficult and costly for bogus loan modification and foreclosure rescue companies to operate nationwide. Unfortunately, the rules are weaker than the standards now used by several states. Under the Mortgage Assistance Relief Services rule, the FTC says that mortgage foreclosure rescue and loan modification […]

Posted in: Foreclosures
Foreclosure robo scandal may impact millions of mortgages

Foreclosure robo scandal may impact millions of mortgages

At first robo-signing seemed to be just a problem for courts and lawyers — in few situations would foreclosures be reversed. But now the Congressional Oversight Committee says the damage may be far greater than first believed and could impact millions of mortgages as well as mortgage-backed securities worth trillions of dollars. “In the best-case […]

Posted in: Mortgages
Mortgage Loan Limits — Conventional, FHA, VA

Mortgage Loan Limits — Conventional, FHA, VA

The high mortgage loan limits and policies started during the foreclosure worries of 2008 will continue through 2011. Note: This material is now out of date. Please go to: 2015 Mortgage Loan Limit Charts There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, FHA and VA loan limits […]

Posted in: Mortgages
VA Compromise Loans Help Vets Avoid Mortgage Foreclosure
By November 3, 2010 1 Comments Read More →

VA Compromise Loans Help Vets Avoid Mortgage Foreclosure

American service members underwater on their VA mortgage are facing some grim realities when trying to sell their homes. Values have plummeted in the current market, which can create a devastating gap between what a veteran can sell their home for and what they still owe on their loan. But the VA, which has an […]

Posted in: Mortgages
Real Estate, Jon Stewart & Glenn Beck

Real Estate, Jon Stewart & Glenn Beck

If there’s one thing that’s certain about the Jon Stewart rally in Washington it’s that the attendance has been grossly under-counted. This is not just sour grapes or an effort to re-write history. All anyone has to do is to look at a map and think about real estate: While mortgages and foreclosures are not […]

Posted in: News