Stories tagged: mortgages
Sun., April 22, 2012
Reverse-mortgage strategy can pay off if applied wisely
The number of Americans over 65 who continue to work has risen in the past decade. The unexpected rise can be traced to a variety of factors including shell-shocked retirement …
Sun., Dec. 4, 2011
There’s no ‘Plan B’ if mortgage interest deduction goes away
Moe Veissi, the new president of the National Association of Realtors, didn’t even blink an eye when the sensitive question was raised. It wasn’t an elephant-in-the-room topic, but it was …
Mon., Oct. 24, 2011, 11:22 a.m.
Obama to promote new steps to help housing woes
Seeking to circumvent congressional opposition, President Barack Obama will promote a series of executive branch steps aimed at jumpstarting the economy this week, beginning with new rules to make it …
Sun., Aug. 14, 2011
FHA becomes tangled in its own safety net
The conventional lending system wants more skin in the mortgage game. We all get that. But should it be an arm and a leg? It’s driving FHA off the playing …
Sun., July 3, 2011
Fate of reverse mortgages depends on compromise
The recent exit of Wells Fargo from the reverse mortgage industry will become a critical point in time for lenders and mortgage companies with plans to service the financial needs …
Sun., July 3, 2011
Five factors play key roles in mortgage application
NEW YORK — There’s rarely been a better time to buy a home. If only you could get approved for a mortgage. Despite the persistent uncertainty in the housing market, …
Sun., May 15, 2011
Despite risks, adjustable-rate mortgages have advocates
PHILADELPHIA — Fixed mortgage rates remain below 5 percent, and these days fewer and fewer home buyers seem to be opting for adjustable-rate loans. But low fixed rates aren’t the …
Sun., May 8, 2011
Let private lenders fund reverse-mortgage counseling
Federal and state regulators need to better support basic information in housing and housing finance. They are too concerned with potential conflicts of interest, even when counseling is a mandatory …
Sun., April 10, 2011
Mortgage forgiveness tax relief differs from home-sale loss
Four years ago, the Internal Revenue Service changed the law that required consumers to pay tax on mortgages forgiven by a lender. Those amounts used to be considered taxable income …
Thu., Nov. 25, 2010
Mortgage rates go up slightly
NEW YORK — Rates on fixed mortgages edged up again from the lowest levels in decades, making it slightly less attractive for Americans to buy or refinance in a market …
Sun., Nov. 21, 2010
Mortgage-forgiveness tax relief does nothing to help your credit
Our four children and their academic calendars have guided me through time in four-year blocks. For example: “Charley was a sophomore when that happened, he’s been out two years, so …
Sun., Oct. 24, 2010
Jumbo mortgage now available for seniors with pricey homes
A new jumbo reverse mortgage option has finally surfaced for seniors with higher-value homes who have been seeking to tap more home equity than the federally insured FHA program can …
Sun., Oct. 17, 2010
State AG takes aim at mortgage wolves
Washington Attorney General Rob McKenna sent a letter last week to the 52 trustees who shepherd mortgage paperwork toward foreclosure. At least a few, it seems, have been very bad …
Fri., Oct. 8, 2010, 8:23 a.m.
Bank of America halts all foreclosure sales
Potential flaws in foreclosure documents are threatening to throw the real estate industry into a full-blown crisis, as Bank of America today became the first bank to stop sales of …
Thu., Aug. 26, 2010
More homeowners refinancing to get low rates
NEW YORK – Mortgage applications rose 4.9 percent last week as more borrowers refinanced at the lowest rates in decades. The Mortgage Bankers Association said Wednesday the gain was fueled …
Wed., Aug. 25, 2010
Mortgage modification program working better
BOSTON – Homeowners who had mortgages modified recently are faring better than those who did so earlier in the housing crisis, according to a report released Tuesday, possibly debunking predictions …
Sun., Aug. 22, 2010
Rules limit closing-cost estimates
LOS ANGELES – Facing new penalties if they lowball estimates of upfront mortgage costs, lenders and brokers appear to be coming clean about how much borrowers will pay. As a …
Tue., Aug. 17, 2010, 6:44 a.m.
Government starts talks about new mortgage system
Talk of shrinking the government’s involvement in the mortgage market is growing. Just don’t expect action any time soon.
Thu., July 22, 2010, 8:27 a.m.
Mortgage rates hit 4.56 percent, new record low
Mortgage rates fell to a new record low for the fourth time in five weeks. But low rates haven’t been enough to lift a struggling housing market.
Tue., July 13, 2010
Mortgage vs. savings a personal as well as financial decision
I’m 28, single, and just received an $86,000 inheritance. I don’t know if I should pay off my mortgage ($79,836) or invest for retirement. If I pay off my mortgage, …
Fri., July 9, 2010, 12:08 p.m.
Four Wells Fargo Financial stores to close in area
Three Wells Fargo Financial stores in Spokane and one in Coeur d’Alene will close in September as part of a Wells Fargo & Co. restructuring. The company is closing all …
Wed., May 19, 2010, 12:42 p.m.
Mortgage delinquencies, foreclosures break records
The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.
Wed., April 21, 2010, 11:47 a.m.
WaMu shareholders can pursue annual meeting
A bankruptcy judge on Wednesday cleared the way for Washington Mutual Inc. shareholders to take legal action to force the company to hold a long overdue annual meeting.
Mon., April 12, 2010, 3:26 p.m.
Senate probe finds fraud in WaMu mortgage lending
The mortgage lending operations of Washington Mutual Inc., the biggest U.S. bank ever to fail, were threaded through with fraud, Senate investigators have found.
Fri., March 26, 2010, 7:57 a.m.
Government unveils plan to shrink some home loans
After months of criticism that it hasn’t done enough to prevent foreclosures, the Obama administration is announcing a plan to reduce the amount some troubled borrowers owe on their home …
Wed., Dec. 9, 2009
Mortgage relief hitting snags
WASHINGTON – Only one in three homeowners who have signed up for the Obama administration’s mortgage relief plan have sent back the necessary paperwork, highlighting continuing problems for the government’s …
Fri., Dec. 4, 2009
Mortgage rates down to lowest in 38 years
Interest rates on the benchmark 30-year, fixed-rate mortgage dipped to a 38-year low this week, giving consumers another reason to consider purchasing a home or refinancing their current one. Freddie …
Thu., Dec. 3, 2009
Rules for government-backed loans grow stiffer
WASHINGTON – Millions of homebuyers in the United States will have to come up with more cash and reach higher minimum credit scores to get a government-backed mortgage under changes …
Fri., Nov. 20, 2009
Mortgage delinquency rate spikes
WASHINGTON – The share of homeowners delinquent on their mortgage or in foreclosure hit a new record during the third quarter, according to industry data released Thursday, which also indicates …
Thu., Nov. 19, 2009, 7:10 a.m.
Foreclosures hitting more people with prime loans
A rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure, adding to concerns about the strength of the economic recovery.