Latest Mortgage News

$26B Foreclosure Settlement Reached

Kara Johnson — Thu, 09 Feb 2012 18:17:00 +0000

A $26 billion settlement that would fund loan modifications and mortgage refinancing for at-risk homeowners was announced today by state and federal officials.

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New HARP Could Help Up to 6.7 Million

Peter King — Wed, 08 Feb 2012 19:05:41 +0000

Recent changes to HARP mean that some 6.7 million homeowners will be eligible to refinance their mortgage to a lower interest rate under the government-backed program.

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Many Could Get Principal Reductions

Kara Johnson — Tue, 07 Feb 2012 22:25:11 +0000

An agreement that could result in substantial principal reductions for some 850,000 underwater homeowners has reportedly been reached among state attorneys general and the nation’s largest mortgage servicers.

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Housing Upturn Seen in 100 Cities

Peter King — Mon, 06 Feb 2012 21:24:36 +0000

Nearly 100 U.S. housing markets are now regarded as “improving,” with home prices and other indicators coming back from post-crash lows, according to the National Association of Home Builders (NAHB).

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Half of Mortgage Refis are Cash-In

Kara Johnson — Thu, 02 Feb 2012 19:47:16 +0000

Nearly one-half of homeowners who refinanced their mortgages late last year did so by paying down part of their mortgage balance at the same time.

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HARP Refis 10 Percent of Total

Peter King — Wed, 01 Feb 2012 17:33:15 +0000

Demand for mortgage refinancing eased slightly last week, after the Federal Reserve indicated it would seek to keep interest rates low for the next three years.

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Bad Sign for Home Prices?

Peter King — Tue, 31 Jan 2012 19:57:03 +0000

U.S. home prices edged downward in November, dropping 1.7 percent from October’s level, according to the latest Standard & Poor’s/Case-Shiller Home Price Indices, released today.

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HAMP Expanded to Rentals, 2nd Liens

Kara Johnson — Tue, 31 Jan 2012 17:40:09 +0000

Owners of rental properties and homeowners burdened by secondary expenses are now eligible for mortgage relief under a new expansion of the Home Affordable Modification Program (HAMP).

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Did Freddie Bet Against Refinancing?

Peter King — Mon, 30 Jan 2012 18:27:02 +0000

Investments made by Freddie Mac would appear to give the mega-lender an incentive not to refinance high-interest mortgages for borrowers, according to a new report.

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2011 Record Low for New Home Sales

Kara Johnson — Fri, 27 Jan 2012 15:34:29 +0000

New home sales had their worst year on record in 2011, with the estimate of 302,000 single-family homes the lowest reported annual total since the Census Bureau started tracking the data in 1963.

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