3 Articles match "Amortization","Company","Foreclose"

The Latest from RealtyTrac MORE
The Government Goes After Loan Officers
Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a registered representative and collected compensation from the mortgage refinancings as well as the sales of securities. The SEC complaint reflects the McLean decision because
www.realtytrac.com - Tuesday, February 3, 2009
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Wachovia Changes The Lending Game
More significantly — and unlike Wachovia’s competitors — it’s making it easier for borrowers to dump option-ARMs by waiving the prepayment penalties routinely associated with such loans. “Effectively immediately,” says the company, “Wachovia is waiving all prepayment fees associated with its Pick-A-Pay mortgage to allow customers complete flexibility in their home financing decisions. Additionally, for all new loan originations, Wachovia is discontinuing offering products that include payment options resulting in negative amortization.” “This is one of the most-enlightened decisions
www.realtytrac.com - Tuesday, February 3, 2009
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Another Approach to $700 Billion Bailout
It seems crazy that real estate history appraises itself higher and higher, with loan and bank companies and anyone else who runs with the pack feeding the fantasy. How do you get in such trouble with the amortization schedule currently used? This would allow the majority foreclosing home owners (the ones in subprime loans)to now afford there house. Peter Miller, author of the Common-Sense Mortgage, has offered up some alternatives to the proposed $700 billion bailout plan. Below are excerpts from an article he wrote about these alternatives. "One alternative
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • The Best from RealtyTrac MORE
  • Wachovia Changes The Lending Game
    More significantly — and unlike Wachovia’s competitors — it’s making it easier for borrowers to dump option-ARMs by waiving the prepayment penalties routinely associated with such loans. “Effectively immediately,” says the company, “Wachovia is waiving all prepayment fees associated with its Pick-A-Pay mortgage to allow customers complete flexibility in their home financing decisions. Additionally, for all new loan originations, Wachovia is discontinuing offering products that include payment options resulting in negative amortization.” “This is one of the most-enlightened decisions
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • The Government Goes After Loan Officers
    Most investors who bought these securities,” says the SEC, “lacked the cash or income to do so, but were urged by their brokers to raise the money to pay for the purchases and the monthly payments required for these products by refinancing their fixed-rate mortgages into subprime adjustable-rate negative amortization mortgages.” According to the SECs complaint “each defendant was a mortgage broker as well as a registered representative and collected compensation from the mortgage refinancings as well as the sales of securities. The SEC complaint reflects the McLean decision because
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • Another Approach to $700 Billion Bailout
    It seems crazy that real estate history appraises itself higher and higher, with loan and bank companies and anyone else who runs with the pack feeding the fantasy. How do you get in such trouble with the amortization schedule currently used? This would allow the majority foreclosing home owners (the ones in subprime loans)to now afford there house. Peter Miller, author of the Common-Sense Mortgage, has offered up some alternatives to the proposed $700 billion bailout plan. Below are excerpts from an article he wrote about these alternatives. "One alternative
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE