Archive for May, 2009

My Personal Credit Crisis (New York Times)

Saturday, May 30th, 2009

While I can sympathize somewhat with Edmund L. Andrews and what he went through (May 17), his comment that ?I took a certain pride that I outlasted two of my three mortgage lenders? actually left me angered. I am not a fan of these mortgage companies, but a big reason they failed was that borrowers like Andrews felt that it was O.K. to live beyond their means and not do everything they could to …

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Indians find loans hard to get (Everett Herald)

Friday, May 29th, 2009

Some banks shy away from loans to Indians because they can’t foreclose on reservation land.

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Today from VOA: (Voice of America)

Friday, May 29th, 2009

Foreclosures continue to rise in Florida and other U.S. states hit hard by the real estate crisis. Several Florida counties are trying to fight back against the problem by bringing banks and homeowners together to find a way to save troubled mortgages from foreclosure.

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13 charged in alleged mortgage fraud in Islip (Newsday)

Friday, May 29th, 2009

A federal grand jury has indicted employees of an Islip mortgage brokerage firm on charges of fraudulently obtaining more than $10 million in subprime home mortgage loans.

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New home sales crawl higher (WABC-TV New York)

Friday, May 29th, 2009

The government says new U.S. home sales were almost flat last month.

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Sainsbury’s Finance One Of Just Four Lenders In “Sub 8% Loans Club” (PRWeb via Yahoo! News)

Thursday, May 28th, 2009

There are currently just four lenders offering an APR of less than 8% on unsecured loans on varying loan amounts between £5,000 and £15,000.

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12°C - Cloudy with rain, moderate in intensity at times (Daily Record)

Thursday, May 28th, 2009

First-TIME buyers need to find an average deposit of £26,000 to get on the property ladder in Scotland. Figures show mortgage lending has plunged by half as a result of the credit crunch.

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Scams home in on needy owners (Cape Cod Times)

Thursday, May 28th, 2009

NEW YORK — The letter may look like a government form. The logo may seem official. The Web site address may sound like an agency that can help.

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Nearly seven in 10 would-be first-time buyers lose hope of ever owning home (Guardian Unlimited)

Thursday, May 28th, 2009

In spite of falling house prices and low interest rates, 65% remain convinced that property ladder is beyond their reach Almost seven in 10 would-be first-time buyers have given up hope of ever owning their own home, according to new research that underlines consumers’ deep pessimism about the housing market. Despite falling house prices and record low interest rates, 65% of non-homeowners still …

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Understanding Mortgage Impound Accounts (Investopedia via Yahoo! Finance)

Thursday, May 28th, 2009

Home buyers with low down payments may get stuck with higher mortgage payments. Find out what you get for the extra money.

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