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Archive for April, 2011

Tea Party Nation Founder: Renters Should Be Banned From Voting

Tea Party Nation Founder: Renters Should Be Banned From Voting

Talk about your strict constructionist, the founder of the Tea Party Nation thinks renters should be denied the right to vote. As Judson Phillips explains, the Founding Fathers “put certain restrictions on who gets the right to vote. It wasn’t you were just a citizen and you got to vote. Some of the restrictions, you […]

Posted in: News
JP Morgan to Pay $56M to Settle Military Mortgage Violations
By April 27, 2011 1 Comments Read More →

JP Morgan to Pay $56M to Settle Military Mortgage Violations

Lending giant JP Morgan Chase is paying $56 million to settle claims it repeatedly overcharged military families on their mortgages and improperly foreclosed on nearly a dozen service members. The lending giant came under fire this winter after an NBC News investigation revealed it repeatedly violated the Servicemembers Civil Relief Act, a key safeguard that protects […]

Posted in: Mortgages
New HUD Rule Goes After Fake Mortgage Loan Letters

New HUD Rule Goes After Fake Mortgage Loan Letters

Did you ever wonder why you get so many letters and emails from lenders who offer low mortgage quotes and seem to be affiliated with the FHA or HUD? The answer, very simply, is that you ought to wonder. Why? Lenders are not supposed to imply or infer any endorsement from the federal government. In […]

Posted in: Mortgages
Can We Predict Mortgage Loan Walk-Aways?

Can We Predict Mortgage Loan Walk-Aways?

It’s generally estimated that about a third of all mortgage foreclosures are simply voluntary, people who can afford their monthly payments but throw in the financial towel and make a strategic decision to walk away from their homes and loans. Now a new system says it can predict who will walk and who will stay. […]

Posted in: Mortgages
Robo-signing scandal leads to 27% foreclosure drop in 1st quarter

Robo-signing scandal leads to 27% foreclosure drop in 1st quarter

Foreclosure activity continued to fall, with filings dropping 27 percent in the first quarter when compared with a year earlier according to RealtyTrac. RealtyTrac said that first quarter foreclosure filings — default notices, scheduled auctions and bank repossessions — impacted 681,153 U.S. properties. The report also shows one in every 191 U.S. housing units nationwide […]

Posted in: News
Why Americans should be furious about Obama, the deficit & income taxes

Why Americans should be furious about Obama, the deficit & income taxes

Tax time is here and with it a sense of awe: While the bank accounts of American families are being depleted, paying taxes is less and less a burden for the richest among us. Income taxes come largely from you and me. They especially come from you and me if we are not among the […]

Posted in: News
How VA’s Residual Income Factor Keeps Vets Out of Foreclosure
By April 12, 2011 0 Comments Read More →

How VA’s Residual Income Factor Keeps Vets Out of Foreclosure

There are multiple reasons why VA loans continue to have the lowest rate of foreclosure of any major lending program. Residual income is a big one. This is a unique credit and underwriting guideline that applies only to VA loans. At the outset, it’s important to differentiate residual income from a debt-to-income ratio. Unlike conventional […]

Posted in: News
How To RAISE Social Security Benefits Now

How To RAISE Social Security Benefits Now

Social Security is much in the news with claims that it’s going bankrupt and cries that benefits must be cut. But that isn’t the case, in fact if everyone simply paid their fair share of the costs — if bosses paid as much of their income as their workers — benefits could be maintained or […]

Posted in: News