While the percentage of homes in the United States with negative equity has declined substantially since the fourth quarter of 2013, they experienced a slight increase quarter-over-quarter in Q4 2014, according to CoreLogic’s Q4 2014 Equity Report released last Tuesday. CoreLogic reported that 10.8 percent of all residential homes were underwater in Q4, this isContinueContinue reading “Negative Equity continues being a Serious Concern Despite Year Over Year Decline!”
Tag Archives: loan modification
1.2 Million Borrowers Nationwide Regained Equity in 2014
On today’s new analysis released by CoreLogic, leading global property information, analytics and data services provider, reported that 1.2 million borrowers regained equity in 2014. Nationwide, borrower equity increased year over year by $656 billion in Q4 2014. Borrowers with near negative equity are considered at risk of moving into negative equity if homeContinueContinue reading “1.2 Million Borrowers Nationwide Regained Equity in 2014”
$4.5 Billion on Delinquent Debt ready to Hit the Market
Three of the nation’s largest mortgage lenders have put sizable packages of nonperforming and reperforming mortgage loans on the market for investors to buy, according to New York Mission Capital Advisors. Bank of America has put up approximately $2.56 billion worth of delinquent debt for sale, including nonperforming loans, reperforming mortgages (those in which the borrower was 90 days orContinueContinue reading “$4.5 Billion on Delinquent Debt ready to Hit the Market”
Are You Facing Foreclosure? Get ready to get more help!
The Consumer Financial Protection Bureau (CFPB) has recently proposed additional set of measures to expand foreclosure protections for mortgage borrowers. Currently the CFPB continues engaging in the outreach task along with consumer advocacy groups, industry representatives, and other stakeholders to develop additional provisions to protect consumers and make it easier for companies to comply withContinueContinue reading “Are You Facing Foreclosure? Get ready to get more help!”
Foreclosure Beware!
We are experiencing one of the biggest foreclosure filling increases for the last four years. The number of foreclosure filings experienced a big jump from September to October alone. These filings include but not limited to notice of defaults, scheduled auctions, and bank repossession. According to RealtyTrac this is the largest month-over-month jump since the peakContinueContinue reading “Foreclosure Beware!”
Fannie Mae sets new rates effective October 14
Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program. Fannie Mae will raise its required interest rate for standard modifications from 4.375% to 4.5%. The rate was lowered from 4.5% to 4.375% on Sept. 15, but will now rise again in one week. Fannie Mae announced the change onContinueContinue reading “Fannie Mae sets new rates effective October 14”
80,000 Foreclosures prevented!
The Federal Housing Finance Agency (FHFA) indicated in its report on foreclosure prevention for Q2 2014 released on September 24, that Fannie Mae and Freddie Mac prevented nearly 80,000 foreclosures nationwide in the second quarter, raising the total number of foreclosures prevented since the start of the conservatorship in September 2008 to 3.3 million. The measures takenContinueContinue reading “80,000 Foreclosures prevented!”
Homeowners Pay Less for Mortgage than Renters for Rent
Paying a mortgage is cheaper than paying rent. But owning a home costs more. The never ending debate…Is better to buy or rent? This could be answered only after considering all of the expenses that contribute to homeownership. The Bureau of Labor Statistics (BLS) says it’s cheaper to own. It has become less expensive to own. From 2009ContinueContinue reading “Homeowners Pay Less for Mortgage than Renters for Rent”
Fact or Fiction: Tax relief for homeowners’ on debt forgiveness.
Congress is now back from its summer vacation, so the burning financial question on thousands of homeowners’ minds right now is this: Are you finally going to help the consumers who are underwater on their mortgages and have already accepted a principal reduction by their lenders? Under current federal tax law, when the homeowners acceptContinueContinue reading “Fact or Fiction: Tax relief for homeowners’ on debt forgiveness.”
Relief to millions of borrowers who were victimized by predatory mortgage lenders and servicers coming soon!
A new Legislation would open a bigger credit box for millions of homebuyers. The ranking democrat on the House Financial Services Committee wants to fundamentally change the rules on how lenders report consumer payments and debts to the credit bureaus, which could create a new path to homeownership for millions of Americans currently, shut outContinueContinue reading “Relief to millions of borrowers who were victimized by predatory mortgage lenders and servicers coming soon!”
Sandy Flores, Broker CPRES 