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Tag: loan

Mortgages: Can You Buy Real Estate With Bitcoins?

Mortgages: Can You Buy Real Estate With Bitcoins?

Bitcoins are being accepted in real estate transactions for the first time, a financial wrinkle that could significantly impact the mortgage marketplace. While banks and non-bank lenders have been leery of the mortgage origination fee limits created by Wall Street Reform, Bitcoins may be a bigger problem because they can be used without any fees. […]

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Real Estate For Vampires And Zombies

Real Estate For Vampires And Zombies

Vampire REOs and zombie foreclosures are the two most-graphic housing casualties of the foreclosure meltdown. Forms of real estate first identified by RealtyTrac Vice President Daren Blomquist, these strange properties are likely alive and very well in your community, indeed — they may be right down the block. So what are they? Essentially, vampire REOs […]

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New Loan Estimate Form Cuts Mortgage Costs

New Loan Estimate Form Cuts Mortgage Costs

A new loan estimate form has been issued by the Consumer Financial Protection Bureau (CFPB). Use of the new document will be mandatory as of August 1, 2015, however it can be expected that many lenders will start using the new form as soon as possible. Under federal rules lenders must provide a good faith […]

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FHA Back To Work Mortgages — New Loans In 12 Months

FHA Back To Work Mortgages — New Loans In 12 Months

(Note to readers: This program ended September 30, 2016.) If you’ve been shut-off from new mortgage financing because of hard times you might want to take a look at the new FHA Back To Work mortgage program. Here, finally, is a program which can allow you to get an FHA loan in as little as […]

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$48 Billion Says The FHA Mortgage Plan Isn’t Broke

$48 Billion Says The FHA Mortgage Plan Isn’t Broke

To hear folks on Capitol Hill you might think the FHA mortgage program is just a blink away from failure, a blight on the American economy and a threat to homeowners everywhere. It’s nonsense. The FHA has $48 billion in cash on hand. So what’s the big deal? The FHA operates a mortgage insurance program. […]

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How The FHA Can Fix Its Reverse Mortgage Woes
By September 30, 2013 0 Comments Read More →

How The FHA Can Fix Its Reverse Mortgage Woes

The FHA reverse mortgage program is in trouble again, but as usual the wrong party is being blamed. In a letter to Congress FHA Commissioner Carole Galante says the FHA needs $1.7 billion in taxpayer dollars, in large measure because of losses on the reverse mortgages it insures. None of this is a surprise. To […]

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New Reverse Mortgage Rules Cut Senior Options

New Reverse Mortgage Rules Cut Senior Options

Uncle Sam is about the only one willing to insure reverse mortgages but with losses to date of $2.8 billion HUD has now come out with new rules which will reduce withdrawals, require new financial paperwork and raise borrower costs. The new rules impact reverse loans made after September 30th. In basic terms, reverse mortgages […]

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MARS Rule Changing Short Sales & Mortgage Relief

MARS Rule Changing Short Sales & Mortgage Relief

It used to be that there were plenty of people who could grease the wheels if you got into mortgage trouble. Instead of a short sale or foreclosure these lovely folks — some of whom claimed government recognition and approval — would negotiate for you with the lender so you could walk away from the […]

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Why The Fed Doesn’t Want To Raise Mortgage Rates

Why The Fed Doesn’t Want To Raise Mortgage Rates

If you’re wondering where mortgage rates are headed you’re not alone. It used to be that mortgage rates reflected supply and demand but that’s no longer the case. The Federal Reserve is now spending $85 billion per month to purchase mortgage-backed securities ($45 billion) and U.S. Treasuries ($40 billion), thus holding down interest rates for […]

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Are Real Estate Mortgages Easier To Get?

Are Real Estate Mortgages Easier To Get?

The latest loan officer survey from the Federal Reserve says financing is easier to get. It also says mortgages are harder to get. I say the subjective feelings and fanciful intuitions recorded by the Fed are wrong. Let me explain why: “Domestic banks, on balance, reported having eased their lending standards and having experienced stronger […]

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