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Stories tagged: mortgages


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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, …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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.


  • 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.


  • 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, …


  • 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 …


  • Mortgage delinquencies, foreclosures break records

    The mortgage crisis is dragging on the economic recovery as more homeowners fall behind on their payments.


  • 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.


  • 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.


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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 …


  • 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.