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Tag: loans

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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How To Finally End Underwater Mortgages

How To Finally End Underwater Mortgages

There is a quick fix which will both rescue housing and rescue the economy. Allow EVERYONE to go back to 80% financing of current market value even if they are underwater. (Okay maybe not everyone limit it to homes of $1 million or less, primary residences, and impose a 31% of gross income affordability test) […]

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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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FHA Dumps Tough Mortgage Credit Rule

FHA Dumps Tough Mortgage Credit Rule

It probably seemed like a good idea at the time: In February HUD said that FHA lenders could ignore credit disputes as long as the total amount owed by a borrower was less than $1,000 and at least two years old. “If the borrower has individual or multiple disputed credit accounts or collections with singular […]

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Occupy Movement Eyes Foreclosures & Squat-Ins

Occupy Movement Eyes Foreclosures & Squat-Ins

The Oakland branch of the Occupy movement has passed a resolution favoring the seizure of foreclosed and abondoned homes. There are a lot of homes available for squatters in the state because of unpaid mortgages and loans. California has the nation’s second-highest foreclosure rate according to RealtyTrac. Nevada ranks #1. While the Occupy movement started […]

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America’s Big Banks, America’s Financial Vietnam

America’s Big Banks, America’s Financial Vietnam

Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures […]

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Should Government Set Mortgage Rates?
By September 26, 2011 0 Comments Read More →

Should Government Set Mortgage Rates?

With all the talk of getting a new mortgage there’s one question which no one seems ready to touch: Why doesn’t the government ought to set mortgage rates? At first this may seem like an audacious idea, a violation somehow of the free market absolutism preferred by so many businesses and industries — at least […]

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Mortgages: Should We Jail Optimistic Economists?

Mortgages: Should We Jail Optimistic Economists?

In Italy seven people have been indicted for failing to predict an earthquake that killed more than 300 people. “Six Italian seismologists and one government official will be tried for the manslaughter of those who died in the earthquake that struck the city of L’Aquila on 6 April 2009,” reports Nicola Nosengo with Nature News […]

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