All Posts Tagged With: "payment"
Washington Special Interests and Mortgage Loans
“Pro-Housing Policies will Stimulate Job Growth” says the National Association of Home Builders. Well, good, where do we start? What exactly are those “pro-housing” policies? “The inventory of new homes for sale is at a record low and there are many areas of the country that are approaching a housing shortage. Tight credit conditions are [...]
11Oct2011 | Peter G. Miller | 0 comments | Continued
Why You WON’T Need a 20% Down Payment For a Mortgage Loan
There’s been a lot of talk claiming that new mortgage rules will soon require borrowers to put down 20 percent if they want to buy a home. Such talk is nonsense. The alleged culprit in this matter is the Dodd-Frank Wall Street Reform and Consumer Protection Act. Having failed to prevent its passage, the lending [...]
28Jun2011 | Peter G. Miller | 0 comments | Continued
Is it good not to pay your mortgage loan?
Is it a good thing if you don’t pay your mortgage? The usual answer is a fat “no” after which comes a discussion of foreclosures, diving credit scores, ugly credit reports, deficiency judgments, loan denials and higher interest costs for mortgage loans and automobile financing. And yet there’s a strange and somewhat logical theory floating [...]
25May2011 | Peter G. Miller | 1 comment | Continued
Can We Predict Mortgage Loan Walk-Aways?
It’s generally estimated that about a third of all mortgage foreclosures are simply voluntary, people who can afford their monthly payments but throw in the financial towel and make a strategic decision to walk away from their homes and loans. Now a new system says it can predict who will walk and who will stay. [...]
25Apr2011 | Peter G. Miller | 0 comments | Continued
How To RAISE Social Security Benefits Now
Social Security is much in the news with claims that it’s going bankrupt and cries that benefits must be cut. But that isn’t the case, in fact if everyone simply paid their fair share of the costs — if bosses paid as much of their income as their workers — benefits could be maintained or [...]
5Apr2011 | Peter G. Miller | 19 comments | Continued
FTC Seeks Halt To Mortgage & Foreclosure Relief Programs
The federal government is seeking to shut down more than a dozen firms which supply mortgage modification or foreclosure relief services. According to the Federal Trade Commission, the government has sought to ban more than a dozen marketers from selling mortgage relief and foreclosure relief services, in one instance seeking $11.4 million for contempt. The [...]
21Jun2010 | Peter G. Miller | 0 comments | Continued
Mortgage Loan Relief For BP Spill Victims
Homeowners impacted by the BP oil spill are getting mortgage relief from Fannie Mae and Freddie Mac, the two largest mortgage owners. In general terms, the loan relief offered by the two companies follows the emergency policies both have had in place following such disasters as hurricanes Katrina, Rita and Wilma. Relief In the usual [...]
18Jun2010 | Peter G. Miller | 0 comments | Continued
When To Tell Your Mortgage Lender To Take A Hike
If you’ve been getting strange calls from your mortgage lender demanding payment, don’t be so quick to reach for your checkbook — such calls could be nothing but efforts to get money before it’s due. Or they could be outright frauds, a form of identity theft. Let me explain: I have a mortgage which is [...]
16Apr2010 | Peter G. Miller | 0 comments | Continued
Credit Cards Or Mortgages: Which To Pay First?
Conventional wisdom has it that folks will use their last dollar to pay their mortgage while other bills remain unpaid, but a new study says otherwise. A new study by TransUnion, the big credit reporting agency, says there is now a new payment hierarchy where consumers pay their credit cards before their mortgages. “The percentage [...]
4Feb2010 | Peter G. Miller | 0 comments | Continued
The Untold Story Behind Fannie Mae & Freddie Mac
The government is out with new foreclosure prevention numbers from Fannie Mae and Freddie Mac. According to the Federal Housing Finance Agency (FHFA), the headline is that “FANNIE MAE AND FREDDIE MAC LOAN MODIFICATIONS UP BY MORE THAN 50 PERCENT IN FIRST QUARTER, MONTHLY PAYMENTS REDUCED FOR HOMEOWNERS.” We then learn that “Fannie Mae and [...]
24Jun2009 | Peter G. Miller | 1 comment | Continued
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