3 Articles match "Foreclosures","Properties","Wells Fargo"

The Latest from RealtyTrac MORE
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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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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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. The lenders (and hopefully more will come forward as the program gets going) have all agreed to price the properties at 12 percent below market value. 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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  • The Best from RealtyTrac MORE
  • 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. The lenders (and hopefully more will come forward as the program gets going) have all agreed to price the properties at 12 percent below market value. 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
    READ MORE
  • 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
    READ MORE
  • 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
    READ MORE