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Firms Accused of Fleecing VA Mortgage Borrowers

Thirteen lenders — including Wells Fargo, JP Morgan Chase and Bank of America — allegedly collected illegal fees worth millions of dollars from VA borrowers. In hundreds of thousands of VA refinancing transactions, the lenders allegedly charged an additional $300 to $1,000 per loan, according to claims made in a lawsuit by two whistleblowers. In […]

October 6th, 2011 | | 0 comments | Continued
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Foreclosures Up, Mortgage Delinquencies Steady Say Feds

A new report from the federal government tells us that foreclosures rose in the second quarter while delinquencies fell. A review of 34 million mortgages representing 65 percent of all first-lien mortgages found that “after several quarters of declining performance, the overall credit quality of the portfolio of loans serviced by the largest national banks […]

September 28th, 2010 | | 0 comments | Continued
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What’s A Qualified Mortgage (QM)?

One of the better ideas to come out of the Wall Street Reform Act was to create something called a “qualified residential mortgage.” You want to know about such financing because most lenders will offer nothing else — and that’s good news for borrowers. Under Wall Street reform several federal agencies are supposed to work […]

September 21st, 2010 | | 0 comments | Continued
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9/11 — Nine Years Later

We all remember such days. We remember where we were when we first heard of the deaths of John Kennedy, Robert Kennedy, and Martin Luther King. We remember when we heard of the Oklahoma City bombing and those who are older surely remember Pearl Harbor. And now, until the end of our lives, we will […]

September 11th, 2010 | | 0 comments | Continued
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Why Foreclosure Prevention Is Not Enough

Fannie Mae has opened a new consumer education site which it says “outlines the choices available to homeowners who are struggling with their mortgage payments, and provides guidance on how they can contact and work with their mortgage company to find solutions.” The site, Know Your Options.com, has the usual bells and whistles for a […]

August 3rd, 2010 | | 0 comments | Continued
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A History of the AOL Real Estate Center

How did it all begin? It was back in 1991 that I wrote the cover story for Home Computing magazine. And there, toward the back of the magazine, was an ad for a small Internet provider, what is now called America Online. I had written about electronic bulletin boards for an advertorial in The Washington […]

July 27th, 2010 | | 0 comments | Continued
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Did Condominiums Really Start In Rome?

Did Caesar and Nero really rule in a city filled with condominiums? Search through the Internet and the unavoidable answer is largely yes, but in fact there were no condos along the Tiber or near the Coliseum at the height of the empire. Don’t believe it? Get out your copy of the Oklahoma City University […]

July 27th, 2010 | | 1 comment | Continued
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American Homes Keep Getting Bigger

HUD has come out with a new housing survey and not surprisingly it finds that “U.S. homes today are bigger with more bedrooms and bathrooms than 1973.” HUD’s 2009 American Housing Survey (AHS) also tells us that most families with young children live within a mile of a public elementary school. The most common home […]

July 7th, 2010 | | 0 comments | Continued
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The Real Meaning of July 4th

Each year on Independence Day the U.S. is filled with parades, fireworks and hot dogs. July 4th is a great day to celebrate. The founding of the United States was a tremendous change from the governments and institutions of the time. Based in part on the writings of such philosophers as John Locke and Thomas […]

July 2nd, 2010 | | 0 comments | Continued
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Should We Tax Our Vets?

The IRS has created an excellent Web page — Tax Information for Members of the U.S. Armed Forces — which explains tax issues for those now on active duty. There are a huge number of rules, most of which greatly benefit those now fighting overseas. But when you look at the forms, deductions, exceptions, alternatives, […]

June 4th, 2010 | | 0 comments | Continued