5 Articles match "Foreclosure","Wells Fargo"

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• Another foreclosure party mansion in Malibu?
  
  Maybe Cheronda Guyton, the recently fired Wells Fargo executive accused of holding parties in a Malibu estate repossessed by the lender, can look into buying this Malibu mansion scheduled for foreclosure auction and also listed for sale for nearly $16...( Tags: Malibu foreclosure million dollar foreclosur read more ) ...Tags:
  Foreclosure Pulse - Thursday, September 17, 2009
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• First-Time Buyers Get Help with CA Foreclosure Purchase
  
  The catch is buyers have to be willing to buy their dream home in one of the designated areas approved by CalFHA — such as Alameda, Contra Costa and Riverside counties — and the foreclosure property must be specifically set aside for the program and owned by one of the participating lenders — including Wells Fargo, HomeEq, CitiMortgage and Fannie Mae. They will have to meet CalHFA’s income limits as well. First-time homebuyers in California are getting help in purchasing their piece of the American Dream thanks to a public-private partnership and $200 million in bond funds allocated to the California Housing Finance Agency (CalFHA). Gov.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 40 Is the New 30 for Lenders and Investors
  
  Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves. Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Tauting the lower monthly payments the new product offers will appeal to first-time buyers, consumers in high-cost markets, real estate investors and buyers on a fixed income, the companys press release also warns that equity will build up more slowly as a result of the lower payments and a lot more total interest will be paid over the extra 10 years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Stumbling Subprimes Spell Opportunity
  
  Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. The tightened lending standards, coupled with stagnant home price appreciation, leaves many homeowners in default unable to refinance their way out of foreclosure. The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. This bottom-line reality is forcing
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Not Enough Rope in Administration's Lifeline' Program
  
  Last week Treasury Secretary Henry Paulson threw out what the administration considers to be a life preserver to homeowners facing foreclosure. Called “Project Lifeline,” it has the backing of Alphonso Jackson, Secretary of Housing and Urban Development, and Faith Schwartz, Executive Director of the Hope Now Alliance, a foreclosure prevention coalition of the public and private sectors. Washington Mutual and Wells Fargo & Co. — Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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