Mortgages
Mortgage Applications At Lowest Numbers Since 1997
Nationwide, the number of mortgage applications for home-purchase loans is at its lowest levels since November 1997. Since mid October the number of applications has been decreasing, partially due to the fact that interest rates have been increasing.
The lack of mortgage applications could also indicate future home sales decreasing, however there are a significant number [...]
Borrowers Refi Lowers Many Mortgage Rates By 17% Or More
The first three quarters of this year marked the smallest total equity cashed out since 2000. The numbers were adjusted based on inflation by the total equity cashed out so far in 2009 has been $60 billion.
Nationwide the share of refinance loans resulting in new mortgages that were 5% or more higher than the [...]
HAMP Will Be Evaluated In November
In early November the Treasury Department is expected to report the results of the first batch of loans modified under the Home Affordable Modification Program.
Currently it seems that one of the major criticisms of HAMP is the pull through rate. Many clients give up before they get to the end leaving lenders unsuccessful. Another [...]
Am I A Good Candidate For Mortgage Modification?
Q. In 2005 I bought my condo in South County for $305,000; it is currently worth $170,000. I have a 1st
and 2nd interest-only loan both at 7%, both adjustable, and with the second coming in as high as 11%. I have kept up with my loans but I can’t get any help refinancing. I tried [...]
Should I Take A Owner-Financed Loan?
Q. I want to purchase a home but I do not have sufficient funds for a down payment. If I get an owner-financed mortgage, would I be able to apply for a bank-financed mortgage in a year or so and would the money I paid to the owner count as a down payment or would [...]
19Oct2009 | Adam | 0 comments | Continued
Mortgage Rates Growing Fast In O.C.
As of August 6.85% of mortgage borrowers in Orange County were 90 days or more delinquent on their loans.
The mortgage rate is growing faster in Orange County than it is in the state or the country and has increased 77% in a year.
The rate of active loans who had a foreclosure filing but have not [...]
Freddie Mac Loan Delinquencies Rise
The number of serious delinquencies on Freddie Mac guaranteed
single-family loans hit 3% in August – the highest number ever reached by the company.
3.13% of Freddie Mac loans were 90 days or more past due, up 18 basis points from July. In August 2008 their delinquency rate was only 1.11%.
The jump in defaults was [...]
Mortgage Rates Fall Even With Lower Rates
The demand for mortgages fell last week even with rate dipping slightly. The Mortgage Bankers
Association index of loan application volume decreased 2.8% last week, compared to the week before.
While the number of loan applications was decreasing the average contract interest rate for 30-year fixed-rate mortgages slid to 4.94% with fees decreasing to 0.94 for [...]
Lenders Are Adjusting 10% Of Loans
Lenders are forgiving homeowner debt 10% of the time – according to the report from April to June.
Usually this was done by lenders modifying a home loan to make it more affordable for the homeowner. This is more than triple the amount of loan modifications done in the first quarter.
In general debt forgiveness is [...]
2Oct2009 | Adam | 0 comments | Continued
Fed Extends Mortgage Purchases Through March
The Federal Reserve announced today that they will continue to purchase mortgage securities and
debt of mortgage for Fannie Mae and Freddie Mac through March 2010. The idea is to gradually slow the pace of these purchases in order to promote a smooth transition in markets.
The U.S. central bank plans to purchase as much as [...]
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Great info, thanks for sharing. Not much would be selling in Charleston SC if we did not have the FHA ...
I discovered your homepage by coincidence.
Very interesting posts and well written.
I will put your site on my blogroll.
:-) 
Nice writing style. Looking forward to reading more from you.
Chris Moran 
Congrats to Troy!
Aloha,
Keahi 
Very interesting information. It's nice to know that the banks may have a strategy rather than being completely reactive. ...
I found your blog on MSN Search. Nice writing. I will check back to read more.
Eric Hundin 
Hello Adam,
My husband and I participated in this years car show for the first time. My husband entered his ...
These are just a few of the things that should be taken into consideration when you are looking for a ...
I think one thing that many people underestimate is the time and money that goes into restoring an old house. ...
FHA loans over 95% require 2 apprisals with the new guidelines. The banks apparently value their opinion.