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Tag: conventional

Real Estate: Why The Common-Sense Mortgage Is Back

Real Estate: Why The Common-Sense Mortgage Is Back

When are you going to re-do the mortgage book? It’s a question I get with some frequency because the “mortgage book” was published by Harper & Row in a series of editions that spanned more than a decade. It popularized a revolutionary idea, the thought that mortgage borrowers could save enormous amounts of money if […]

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Low Mortgage Rates Power Rising Home Prices

Low Mortgage Rates Power Rising Home Prices

Mortgage rates never move in a straight line. Whether moving up or down you can’t get excited about little blips here and there, a lesson we are seeing played out in 2016. According to Freddie Mac the rate for 30-year, prime mortgages stood at 3.97 percent as of January 7th. By March 10th the rate […]

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Par Pricing Mortgage Option Still Available

Par Pricing Mortgage Option Still Available

It seemed like a good idea at the time: The Consumer Financial Protection Bureau was thinking that maybe lenders should be required to offer mortgage borrowers a zero-zero financing option, but after lots of letters and comments it ultimately rejected a zero-zero requirement. What is a zero-zero mortgage option? And why would you like to […]

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Mortgage Foreclosure “Dual-Tracking” Abuses To End

Mortgage Foreclosure “Dual-Tracking” Abuses To End

New government rules will end the practice of foreclosure “dual tracking,” cases where borrowers enrolled in loan modification programs are simultaneously foreclosed. The new regulations give borrowers powerful new foreclosure protections and essentially require loan servicers to help prevent foreclosures in situations where borrowers are seeking modifications or short sales on a timely basis. As […]

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New 120 Day Mortgage Foreclosure Rule Protects Borrowers

New 120 Day Mortgage Foreclosure Rule Protects Borrowers

The federal government has enacted new rules which will protect mortgage borrowers nationwide from abusive and wrongful foreclosures. Although the new standards do not officially take effect until January 2014, virtually all lenders will start following them this year to avoid reputational damage, the potential for litigation and additional regulatory oversight. The Mortgage Servicing Rules […]

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How The Mortgage Interest Deduction Can Be Cut, Sliced & Diced

How The Mortgage Interest Deduction Can Be Cut, Sliced & Diced

Is it time to end the mortgage interest deduction? For the first time in years the question is a matter of serious debate in Washington. Right now residential mortgage interest deduction (MID) is generally allowed on first- and second- home debt worth as much as $1 million plus an additional $100,000 for a home equity […]

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Could A National Mortgage Strike Change Foreclosures?

Could A National Mortgage Strike Change Foreclosures?

A mortgage strike has started in Cleveland, but will this idea spread nationwide? Will it reduce foreclosures or mortgage rates? According to the Cleveland Plain Dealer, a local group called Empowering and Strengthening Ohio’s People (ESOP) believes that “banks should reduce the principal on underwater mortgages because home values have fallen so far in Northeast Ohio.” […]

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Is Your Mortgage Credit Score Right?

Is Your Mortgage Credit Score Right?

If you’ve thought about financing or refinancing a home then you know the value of a solid credit score. The better the score the lower your mortgage rate. Unfortunately, the government says that after looking at 200,000 credit files it found one out of every five credit scores purchased by consumers actually differed from the […]

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How Zero-Zero Mortgages Could Cut Loan Costs
By September 10, 2012 1 Comments Read More →

How Zero-Zero Mortgages Could Cut Loan Costs

A new proposal floating around Washington could require lenders to make a no-point, no-fee loan option available to prospective borrowers. This so-called “zero-zero” plan would not be the only pricing lenders could offer, instead it would be one choice of many lenders could offer under a proposal from the Consumer Financial Protection Bureau. The purpose […]

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Should “Old” People Get Mortgages?

Should “Old” People Get Mortgages?

Over at PBS NewsHour Paul Solman looks at the question of whether a 66-year-old retiree is a good candidate for a 30-year fixed-rate mortgage. “Don’t worry about the lender,” says Solman. “A standard rule of thumb applies regardless of age: So long as your mortgage payments are no more than 45 percent of your gross […]

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