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US-Arizona
The trouble is figuring out who holds the old loan. After issuing mortgages to homeowners, banks routinely sell the IOUs to other banks or institutions such as Fannie Mae and Freddie Mac. Huge volumes of mortgages have been packaged into securitie
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US-Arizona
"President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations."
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US-Arizona
Home Equity as a percentage of household net worth has fallen to 16.2% today, compared to its recent high in the fourth quarter of 2005 at 25.5 percent of net worth.
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US-Arizona
• The average number of days delinquent for loans in foreclosure is now 484 days • In five judicial states (NY, FL, NJ, HI and ME), the average exceeds 500 days
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US-Arizona
The Census Bureau reported the homeownership and vacancy rates for Q3 2010 this morning. The homeownership rate was at 66.9%, the same level as in Q2. This is at about the level of early 1999.
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US-Arizona
The most troubling of all is the response that many homeowners have gotten from Bank of America. They're telling customers they have no legal right to see their own note. Think about how absurd that is; your mortgage note is a contract you...
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US-Arizona
What is not clear, however, is whether rates are attractive enough to lure a significant number of home buyers back into the ailing housing market. Interest rates on conforming mortgages dropped to an average of 5.01 percent for the week ending Jan.
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US-Arizona
The startling turnaround reflects the changed political and economic realities of the nation's deepening recession. Citigroup abandoned its long-standing opposition to let bankruptcy judges modify the terms of mortgages
