For better or worse, FNMA keeps tightening the reins on those unlucky (not so) few that are going through the foreclosure process. They announced earlier this spring that they were increasing the time period (up a year, to 5 years) that borrowers who have been foreclosed upon would have to wait to be considered to […]

Popularity: 32% [?]

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Many people are finding out they are “upside down” on their home these days if they bought during the real estate crazy years of 2005-2006.  In addition, many those are not able to afford the payments on their mortgages as interest rates rise. In the metro areas that saw the biggest […]

Popularity: 34% [?]

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If you have a so-called option ARM, where you get a choice of the payment structure you want, I’ll bet you didn’t know about an insidious clause in that loan. In many option loans, you can choose a minimum payment, much like a credit card, where you just make a small payment, […]

Popularity: 28% [?]

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I guess the banks are pretty desperate to keep any more properties from showing up on their asset ledgers.
From the Wall Street Journal…
http://online.wsj.com/article/SB120665586676569881.html?mod=todays_us_page_one
Mr. Buompensiero, a gray-bearded inspector for REO Asset Services-1st Realty Group, rang the bell. When no one answered, he taped a letter to the door offering the occupants $1,000 to move out. The […]

Popularity: 3% [?]

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This would be funny if it wasn’t so sad. In spite some people have burned their homes.
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This link goes to a CNN video article about how many homeowners facing foreclosure are making sure the lenders don’t benefit from taking their home…by burning them down.
http://www.cnn.com/video/#/video/us/…ning.homes.cnn
Popularity: 4% [?]

Popularity: 4% [?]

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