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12 Articles match "Associated","Balance"
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The Latest from RealtyTrac
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The Government Goes After Loan Officers
In August 2006, Steven Krystofiak, President of the Mortgage Brokers Association for Responsible Lending , testified before the Federal Reserve and said his group compared the income figures for 100 stated-income loans against borrower tax returns. Ninety percent of the stated-income loan applications showed earnings that were exaggerated by at least 5 percent. Sixty percent of the stated amounts were exaggerated by more than 50 percent. “Stated income loans,” Krystofiak testified , “help no one. Just ask yourself: How many borrowers really knew what “recasting” means or
www.realtytrac.com
- Tuesday, February 3, 2009
Option ARM Borrowers Running Out Of Time
The rules for option ARMs often say that when the loan balance grows to 110 percent of the original debt the loan must then be recast . Combine minimum monthly payments with negative amortization and recasting when loan balances reach 110 percent and the result is that the monthly payment is increased immediately — not after five years. Given the inherent flaws and risks associated with option ARMs the question has to be asked: Why did lenders Option ARM Borrowers Running Out Of Time By Peter G. Miller Step right up folks.
www.realtytrac.com
- Tuesday, February 3, 2009
Stop Home Foreclosure
The "as is” appraised value and the sale price should be least 70 percent to 80 percent of the unpaid principal balance of the home. The three most effective methods for quickly locating buyers are: To Google “foreclosure listings” and then list your property on the Internet for free, List your property with a real estate agent and/or contact an association of real estate investors. The seller (thats you) customarily pays for fees associated How to Sell Your House Quickly When Facing Foreclosure By LaTonya S. Johnson If you
www.realtytrac.com
- Tuesday, February 3, 2009
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More Trouble for Ed McMahon
Carrying a 15 percent interest rate, the balance due grew to $275,000, according to the Associated Press . Things seem to be going from bad to worse for Ed McMahon, former sidekick to Johnny Carson on “The Tonight Show” and corporate spokesman for the American Family Publisher’s sweepstakes. The Los Angeles Times reported today that McMahon is being sued by Westmoore Lending of Huntington Beach, Calif.,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Dis-ARMament Aimed to Curb Foreclosures
These loans are what many in the banking and real estate industries say have helped home buyers get into their first home or purchase more home than they otherwise could afford using more conventional mortgage products. The National Association of Realtors (NAR) lauded the new consumer education efforts put forth by the government, but cautioned regulators not to restrict innovation in the mortgage lending sector. Striking a balance between consumer education and the free marketplace is of utmost importance, according to the Realtors. Concerned about the fallout from rising mortgage delinquency rates and foreclosures around the country, the federal government recently stepped into the fray, issuing new tighter guidelines aimed at dealing with so-called “exotic” adjustable-rate mortgages.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
In any case, legitimate foreclosure investors willneed to find ways to overcome the stigma associated with foreclosureinvesting because of the increased attention to this problem. Make a comment or send us an e-mail . Posted 03-29-2006 6:49 PM by darenb Filed under: Pre-Foreclosures Comments
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Glossary of Foreclosure and Real Estate Terminology - Realtytrac
The announcement establishes the new date and time for the Trustee’s Sale. Publication Letter The authorization from the homeowners association for the Trustee to set the sale date and begin notification and publication of the Notice of Trustee’s Sale. Pre-Publication Period This is a statutory minimum time period of three months following the recording of the Notice of Default which the trustee must wait before setting a date for the Trustee’s Sale. Publication Period The time period beginning after the Pre-Publication Period and ending with the Trustee’s
www.realtytrac.com
- Tuesday, February 3, 2009
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Digital Real Estate Data Means "OPEN HOUSE" 24/7
An avalanche of information now available on the World Wide Web is shifting the balance of power in the real estate industry and giving homebuyers and sellers more control over the deal than ever before — and changing the nature of real estate forever. Today, in the new digital democracy, more than 80 percent of house-hunters use the Internet to help them find a home, according to the National Association of Realtors . The Internet is rapidly and radically transforming the way people buy and sell homes. Ten years ago, only a fraction of homebuyers and sellers used the Internet.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Fannie: Q1 a Swift Kick in the Rear
It may have been created and chartered by the federal government, but Fannie Mae (the Federal National Mortgage Association) is first and foremost a private company responsible to shareholders for running at a profit. In order to buffer it’s balance sheet to ride out the rest of the economic downturn, Fannie also announced that it will lower its stock dividend to $0.25 And as with many corporations in this country, the national economy is kicking Fannie around…fast and hard! One of the nation’s two Government Sponsored Enterprises (GSEs), Fannie reported a first quarter net loss of $2.2
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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. The interest not paid does not disappear however, instead it’s added to the loan balance in a process called negative amortization . Wachovia Changes The Lending Game By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
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Option ARM Borrowers Running Out Of Time
The rules for option ARMs often say that when the loan balance grows to 110 percent of the original debt the loan must then be recast . Combine minimum monthly payments with negative amortization and recasting when loan balances reach 110 percent and the result is that the monthly payment is increased immediately — not after five years. Given the inherent flaws and risks associated with option ARMs the question has to be asked: Why did lenders Option ARM Borrowers Running Out Of Time By Peter G. Miller Step right up folks.
www.realtytrac.com
- Tuesday, February 3, 2009
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As Foreclosures Mount, Candidates React to the Credit Crisis
Clinton also wants the government to impose new disclosure requirements on mortgage brokers and curb their ability to dictate lending terms. “We need to act now with smart, practical solutions to strengthen our housing and mortgage markets,” Clinton told The Associated Press. “We Richardson added: “The president has let these people regulate themselves, and as a result, the necessary checks and balances have been overlooked. With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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The Government Goes After Loan Officers
In August 2006, Steven Krystofiak, President of the Mortgage Brokers Association for Responsible Lending , testified before the Federal Reserve and said his group compared the income figures for 100 stated-income loans against borrower tax returns. Ninety percent of the stated-income loan applications showed earnings that were exaggerated by at least 5 percent. Sixty percent of the stated amounts were exaggerated by more than 50 percent. “Stated income loans,” Krystofiak testified , “help no one. Just ask yourself: How many borrowers really knew what “recasting” means or
www.realtytrac.com
- Tuesday, February 3, 2009
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