All Posts Tagged With: "bankruptcy"
Are Big FHA Mortgages Really Risky?
Who will win and who will lose with FHA loan limits that were reduced as of October 1st? The answer may be surprising. In general terms there has been considerable support for lower FHA loan limits for several reasons. First, lower FHA limits mean more opportunities to sell private-sector loans. Second, the FHA has long [...]
13Oct2011 | Peter G. Miller | 0 comments | Continued
The foreclosure story mortgage lenders fear most
This has been a dark and dusty year for mortgage lenders. There has been the robo-signing scandal, publication of Michael Hudson’s inside tell-all, The Monster, and buy-back claims by investors yelling fraud and asking for billions in compensation. But perhaps the worst news has been saved for last, a little-noticed decision in Ohio that could [...]
30Dec2010 | Peter G. Miller | 0 comments | Continued
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,” [...]
30Nov2010 | Caroline H. Tucker | 0 comments | Continued
This Mortgage Lender Is A Fake (Don’t Just Take Our Word For It)
You can’t help but wonder about the good folks at Esteemed Lending Services. They seem so sure, so certain, so familiar…. If you want a mortgage, Esteemed has one for you. Recent bankruptcy? No problem? A foreclosure last month? So what. Less income? They can work with you. And help with short sales? Who could [...]
14Jun2010 | Peter G. Miller | 0 comments | Continued
How Can I Get Foreclosure Refinancing?
In general terms there are two forms of foreclosure refinancing, money for those facing foreclosure and financing for those who have purchased foreclosed property and want a new loan with better terms. Facing Foreclosure In the first case we have an owner who may lose his or her home, perhaps someone with a toxic loan [...]
10May2010 | Peter G. Miller | 0 comments | Continued
How Foreclosures, Bankruptcies & Healthcare Are Tied Together
Last week we wrote about bankruptcies and the reality that 2009 was a banner year for financial failure — 1.5 million bankruptcies, up 32 percent from 2008. Interestingly enough, as provisions of the newly-minted Patient Protection and Affordable Care Act go into effect we are likely to see both fewer bankruptcies and fewer foreclosures. Why? [...]
22Mar2010 | Peter G. Miller | 0 comments | Continued
Bankruptcies Rise 32% in 2009, 1.5 Million Went To Court
Almost 1.5 million bankruptcies were recorded in 2009, a number up 32 percent from 2008 — and a number that was not supposed to happen. Huh? How come there were not supposed to be so many bankruptcies. Well, to put this as nicely as possible, the so-called Bankruptcy Abuse Prevention and Consumer Protection Act of [...]
16Mar2010 | Peter G. Miller | 0 comments | Continued
What’s A “Deed In Lieu” Of Foreclosure?
There were more than 3.5 million foreclosure notices sent out last year, a total which does not include homes lost with something called a deed in lieu of foreclosure. What is a “deed in lieu” of foreclosure and is it good or bad? Good & Bad In basic terms, a deed in lieu of foreclosure [...]
6Jan2010 | Peter G. Miller | 0 comments | Continued
Can A Condo or Co-op Go Bankrupt?
Can a condo or co-op go bankrupt or be foreclosed? The answer is you bet — but the good news is that such financial disasters are rare. In general terms a condominium is a property where there are units with individual title and financing as well as common areas which are owned by the condo [...]
30Dec2009 | Peter G. Miller | 0 comments | Continued
What If Mortgage Walk-Aways Become Socially Acceptable?
There’s a certain glue that holds societies together and in the U.S. one of those unwritten standards is the idea that you don’t walk away from your home. Such community standards actually have a financial value. If walking away from a mortgage becomes socially acceptable then lenders will have more risk, interest rates will rise, [...]
22Nov2009 | Peter G. Miller | 1 comment | Continued
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