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13 Articles match "Collections","May","Real Estate"
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The Government Goes After Loan Officers
Now the immunity enjoyed by lenders may be at an end. new and surprising player is looking at failed mortgages, and looking in a way which may suggest that many loan officers will have to pay up. 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.” The Government Goes After Loan Officers By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
But the real story with foreclosures is different: The fact that a loan is delinquent does not mean foreclosure is sure to follow. Unlike local lenders, originators and far-off investors are unlikely to have any relationship with the borrower beyond collecting monthly payments. “Put another way,” says Higgins, “the human element of a borrower in distress is replaced by a mathematically modeled overlay of cash flows.” ING DIRECT doesn’t have too many borrowers in distress: Of more than 100,000 loans just 96 foreclosures have been completed. No Mortgage Meltdown For These Banks By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
Option ARM Borrowers Running Out Of Time
Lastly, we have the real attraction of option ARMs, the option payment itself, a payment which is insufficient to even pay off the monthly interest cost. Because Fitch says that a 40-year loan term represented 4 percent of all option ARMs in 2004 -- but 38 percent by 2007. A loan with four payment options may seem fairly understandable, but in the real world a lot of borrowers did not take out option ARMs because they wanted to make fully-amortizing payments. Option ARM Borrowers Running Out Of Time By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
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Burning Down the House
For many real estate investors, the foreclosure market is smoking. Foreclosures nationwide are heating up, especially in once-supercharged real estate bubbles like Florida, California, Nevada and Arizona. But in Michigan, where foreclosures are widespread and a hot market for real estate investors, people are burning down the homes to avoid foreclosure . . . literally! Last month, a Michigan homeowner in foreclosure was arrested for allegedly setting her three-year old Grand Rapids home on fire to collect the insurance money, according to the Grand
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Home Price Indices Reporting Record Lows
To prospective home buyers who have been shut out of homeownership because of affordability constraints, these declines may be welcome news, as are continued low mortgage rates.” rdquo; The OFHEO collects its data from the two Government Sponsors Enterprises it oversees — Fannie Mae and Freddie Mac — the nation’s two largest lenders. Due to the nature of the data it Home prices on existing single-family homes continued to sink further into the abyss nationally during the first quarter of 2008, according to two leading industry indicators. The Office of Federal Housing Enterprise Oversight (OFHEO) reported last week that prices fell 1.7
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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U.S. Foreclosure Laws
Knowing the process in your state will help you adopt a more effective investing strategy and avoid procedural pitfalls. State Foreclosure Laws Quickly locate and review the foreclosure law specific to your state � or any state you�re considering investing in. Select A State Alabama Alaska Arizona Arkansas California Colorado Connecticut
www.realtytrac.com
- Tuesday, February 3, 2009
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The Truth About Bankruptcy, Foreclosure, Avoiding Foreclosure, Chapter 7, Chapter 13 - RealtyTrac
You may still have other options. We offer answers to the many questions you may have regarding stopping foreclosures. It only gives you relief from unsecured creditors like credit cards and prevents certain creditors from pursuing collection action against you. More > Find a Local Real Estate Agent Want to explore your current options? Check out our NEW Features! Login Why Join? FREE Trial Feedback Help
www.realtytrac.com
- Tuesday, February 3, 2009
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Foreclosures Won't Break the Market Next Year
The ups and downs of every economic cycle have always been directly impacted by the health of the real estate sector. Director of Research and Analytics for First American Real Estate Solutions, said that even with $1 trillion of adjustable-rate mortgages ready to reset to higher interest rates in both 2007 and 2008, he believes the number of defaults and foreclosures resulting from the increased mortgage payments will be “painful but won’t break the economy or the market.” Basing his comments on data collected on first mortgages — with an emphasis on those originated between
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Hold Onto Your Hat and Hat Rack
There’s a warm wind swirling around this country right now, and it may just blow the hat off of your head…and take along with it everything else you own as well. the story says that it’s the town itself that is required by an antiquated 19th Century state law to collect and store the belongings of people who have been ejected from their homes by state marshals. It is also evidence that This breeze that is gaining strength is yet the latest fallout from the foreclosure hurricane sweeping the nation. The New York Times recently reported in two related stories that
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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2006: An Adjustable' Year for Foreclosures
Based on data collected between December 18 and December 21, 2006, the survey cited three major conclusions: That the overall market share of adjustable-rate mortgages (ARMs) as a whole declined in 2006 as the savings gap in interest rates between ARMs and fixed-rate mortgages shrank; Lenders offered greater incentives (discounts) in 2006 in order to maintain the flow of ARM originations coming in the door; and Hybrid loans — particularly the very popular 5/1 ARM where the teaser interest rate is fixed for five years before the lender can push the interest rate upward — became the most popular
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Wachovia Changes The Lending Game
If that happens, the Wachovia plan may well be responsible for saving tens of thousands of families from foreclosure.” Washington On Capitol Hill, both the House and the Senate have passed measures that would allow the FHA to insure up to $300 billion in special mortgages for those facing foreclosure. There are many situations where Wachovia would not collect prepayment penalties anyway. Wachovia Changes The Lending Game By Peter G. Miller With assets of more than $800 billion, Wachovia is the nation’s fourth-largest
www.realtytrac.com
- Tuesday, February 3, 2009
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Can "Appreciation Sharing" Solve The Mortgage Mess?
The Black Lung Benefits Revenue Act of 1981 created a new way to own and invest in real estate: Equity sharing. If investors are interested in mortgages at all, they’re willing to buy securities backed by prime loans and little else. “You can understand the investor’s perspective, but the other side of the equation is this: Restoring the real estate market means restoring all of it. In many areas of the world interest is not considered acceptable Can “Appreciation Sharing” Solve The Mortgage Mess? By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
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Option ARM Borrowers Running Out Of Time
Lastly, we have the real attraction of option ARMs, the option payment itself, a payment which is insufficient to even pay off the monthly interest cost. Because Fitch says that a 40-year loan term represented 4 percent of all option ARMs in 2004 -- but 38 percent by 2007. A loan with four payment options may seem fairly understandable, but in the real world a lot of borrowers did not take out option ARMs because they wanted to make fully-amortizing payments. Option ARM Borrowers Running Out Of Time By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
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