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Tag: loans

Why Legacy Mortgages Still Boost Foreclosure Totals

Why Legacy Mortgages Still Boost Foreclosure Totals

The mortgage meltdown ended in 2008. That’s a long time ago and yet it is the loans from mortgage lending’s go-go era from 2000 to 2008 which continue to screw up the real estate market even today. No, certainly, we are not seeing the foreclosure levels which dominated the marketplace once it became apparent that […]

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Subprime Mortgages: 50 Shades of Risk

Subprime Mortgages: 50 Shades of Risk

Subprime mortgages continue to be the riskiest type of mortgage you can get — and yet things are looking better for both subprime borrowers and subprime lenders. How can that be? Subprime mortgages are a form of financing designed for those with impaired credit. That’s a polite term for individuals who have low credit scores, […]

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Are Mortgages On The Way Out?

Are Mortgages On The Way Out?

Writing about mortgages and tiny houses, futurist Thomas Frey explains that “one of the biggest boat anchors for our lives tends to be our home and the gigantic home mortgage that comes with it. We sacrifice much for the sake of paying our mortgage.” (See: Why the Tiny Home Movement May Not Be So Tiny) […]

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Why Subprime Mortgages Are Back

Why Subprime Mortgages Are Back

Subprime mortgages – once the bad boys of real estate lending – are coming back. Figures from the Federal Reserve Bank of St. Louis show that between 2007 and the start of 2013 subprime mortgages fell off the radar for most banks but now they have begun to make a significant comeback. What happened to […]

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Are All Subprime Mortgages Predatory Loans?

Are All Subprime Mortgages Predatory Loans?

Subprime mortgages are typically loans with tough terms and high rates. So does this mean all subprime loans are examples of predatory financing? In the usual case the answer is no. Subprime mortgages are a form of financing which should be used only for borrowers with woeful credit, individuals with a history of failing to […]

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Foreclosures Tumble 26% in 2013, Says RealtyTrac

Foreclosures Tumble 26% in 2013, Says RealtyTrac

Foreclosure activity is falling through the floor — at least relatively speaking. The latest figures from www.realtytrac.com show that 2013 foreclosures fell 26 percent when compared with 2012. The bad news? The wealth gap continues: Nearly 1.4 million properties faced foreclosure notices, a still-huge number given that there are roughly 50 million mortgaged homes in […]

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Are Subprime Mortgages Dying Or Dead?

Are Subprime Mortgages Dying Or Dead?

Subprime mortgages are an endangered species. The problem is not that such loans can’t be made under Wall Street Reform, and it’s not that such loans won’t be made, it’s just that there will be a lot fewer of them. Subprime mortgages are appropriate for individuals with poor credit histories because such borrowers are seen […]

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Homeowners Insurance — Lenders Get 1,000% Mark-Up
By September 24, 2013 1 Comments Read More →

Homeowners Insurance — Lenders Get 1,000% Mark-Up

The state of New York is cracking down on lenders who charge from two to ten times the going rate for “force-placed” homeowners insurance. Under new rules such alleged price gauging, kick-backs and “reverse competition” are out, at least in the Empire State. But while New York moves ahead to end a legalized scam with […]

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Why “Tight” Mortgage Lending Is A Fantasy

Why “Tight” Mortgage Lending Is A Fantasy

Lenders are getting hammered with claims that they refuse to make loans, thus artificially creating a “tight” mortgage market. This is a great urban myth, somewhat like large alligators in the sewers of New York. But it doesn’t make sense and — oh yes — it plainly is not true. Let’s start with logic. Why […]

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Immigration Reform To Add $500 Billion In New Mortgages

Immigration Reform To Add $500 Billion In New Mortgages

A new study by the National Association of Hispanic Real Estate Professionals (NAHREP) estimates that immigration reform would create three million new home sales, $500 billion in additional mortgage originations, and $28 billion in new real estate commissions within five years of passage. These are huge numbers, enough to pressure real estate prices higher because […]

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