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Adjustable Rate Mortgage Blog; March, 2009 Archive, Page 1; Adjustable Rate Mortgage Blog | • Page 1 • Page 2 • 03/27/09 22:54
Bad news for those who want to take out a housing loan: the Financial Services Authority will be introducing new policies to the banking system after its near-collapse, among of which is a provision on putting a mortgage cap. Under the proposed policy, those who want to take out a loan may only have up to three times his/her annual salary.Link: The FSA mortgage cap: how it affects you - Telegraph
Tags: fsa mortgage cap •
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03/25/09 18:52
A group of Africans American has filled a class-action suit this March in a Los Angeles court with the help of NAACP, which contends that several major mortgage lender like Wells Fargo and HSBC. These lenders gave our Black brothers bad loans ore sup-prime mortgages even if did have credit qualifications parameter such as credit scores, down payment and incomes identical or much better that White borrowers.Link: NAACP Sues Major Mortgage Lenders | News | BET.com
Tags: naacp • wells fargo and hsbc • american african discrimination suit • subprime lenders •
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03/23/09 14:33
The increase in number of foreclosures, the inability to pay for credit cards and loans, and the recession have all pushed everyone at their limits. In desperation people's natural instinct for survival kicks in which means taking any possible actions necessary to overcome these problems, even if it has to be of illegal means. Mortgage fraud reports have been increasing and you can read the rest of it here:Link: Mortgage Fraud Rises Even as Loans Decline - washingtonpost.com
Tags: mortgage fraud • increase of mortgage fraud •
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03/21/09 23:12
Gone are those days when you can get a loan by only declaring your income, or when you can pay less than what you are due. Because of these easy-to-get loans, we have ended up in a huge economic mess today.Getting a loan with interest rates below five percent is very difficult, if not nearly impossible. Requirements are much higher, and banks are stricter. What can you do about it then? Link: Jane Bryant Quinn - A Higher Bar For Those Low Mortgage Rates - washingtonpost.com
Tags: low mortgage rates •
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03/19/09 23:44
You have gone through all the hassles and at your wits end but the fight is far from over, what will you do? To keep on striving or just to give up?If we are talking about life then by all means never give up but if it is about mortgages and foreclosure, then you might consider giving up. Families who were not covered by the government's support package may have other venues to cut their mortgage cost. This and more is what you can read here: [404 Check: was link to http:/ / latimesblogs. latimes. com/ laland/ 2009/ 03/ walking -way -fro. html, anchor: Link: Walking way from a home and a mortgage | L.A. Land | Los Angeles Times]
Tags: deed in lieu • giving up on mortgages •
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03/13/09 11:30
Mortgage scams are not difficult to come across to nowadays as more and more people are searching to refinance their existing loans. To easily prosecute wrongdoers catch existing scams, Brooklyn prosecutors will be setting up a separate team of investigators dedicated to the unraveling of existing mortgage scams. The unit will have at least 12 staff members assigned to different areas in the borough. [404 Check: was link to http:/ / www. newsday. com/ news/ local/ wire/ newyork/ ny -bc -ny - -mortgagescamunit0306mar06,0,6390546. story, anchor: Link: Brooklyn DA's office to create mortgage scam unit -- Newsday.com]
Tags: mortgage scam unit • brooklyn •
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03/09/09 22:14
Once the crisis is over, expect a stricter system when it comes to mortgages, both fixed-rate and adjustable-rate. Lax policies and mismanagement in the past resulted to whatever we are having now, so a correction is in order.How will you, as an ordinary citizen, act on this new mortgage rules? I have here an article that can serve as your guideline how. [404 Check: was link to http:/ / www. freep. com/ article/ 20090305/ NEWS06/ 90305095/ 1019/ BUSINESS/ How+to+figure+out+your+mortgage+qualifications, anchor: Link: How you can act on new mortgage rules | Freep.com | Detroit Free Press]
Tags: new mortgage rules •
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03/07/09 09:01
Records show that at one in ten homeowners in Louisiana have fallen behind in their mortgage payments by at least 30 days. Of this, one in three have overdue subprime adjustable rates. The Mortgage Bankers Association cited Louisiana as one of the main reasons for the deepening financial crisis. Forbes.com tells us more about this news.[404 Check: was link to http:/ / www. forbes. com/ feeds/ ap/ 2009/ 03/ 06/ ap6135046. html, anchor: Link: Mortgage payment woes increase in Louisiana - Forbes.com]
Tags: mortgage payment woes •
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03/03/09 20:25
So interest rates have gotten so low these days. Experts say that it is probably the best time to pay your expensive loans with cheaper ones. This way, you will be able to lower your monthly mortgage payments, allowing you to put additional cash for your needs.What do you need to know when refinancing your loan? What steps do you have to pass through? TheState.com tells us more about what it thinks need to be done. [404 Check: was link to http:/ / www. thestate. com/ your -home/ story/ 691516. html, anchor: Link: Keys to refinancing - Your Home - The State]
Tags: keys to refinancing •
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03/01/09 18:53
It seems to me that Americans are starting to be wary of adjustable rate mortgages. In fact, a quarterly report from Freddie Mac show that 97 percent of prime borrowers who refinanced adjustable rate mortgages last quarter opted to go for fixed-rate mortgages, while 99.7 percent who refinanced fixed-rate mortgages chose to go fixed-rate again. Link: Borrowers shun adjustable-rate mortgages - The Business Journal of Milwaukee:
Tags: borrowers • adjustable rate mortgages •
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