Mortgage, Real Estate, US Real Estate

7% Rise in Mortgage Applications Last Week

By Mike Wheatley | August 3, 2011
Applications for new mortgages rose last week, increasing by more than 7% over the week before, according to new reports from the Mortgage Bankers Association. The refinance index saw an increase of 7.8%, while the real gauge for mortgage requests, the purchase index, jumped up by 5.1%. According to MBA research and economics vice president […]
Mortgage, Real Estate, Residential, US Real Estate

Is "Affordable Housing" An Oxymoron?

By Donna S. Robinson | August 3, 2011
Oxymoron: A figure of speech that combines contradictory terms. Earlier this year, the Obama administration came out in favor of getting rid of Fannie Mae and Freddie Mac. There was and is widespread disagreement over this idea, because Fannie and Freddie along with HUD are supposedly the purveyors of "affordable housing". At Fanniemae.com, they explain […]
Mortgage, Real Estate, Realtors, US Real Estate

Argument Over Eliminating Mortgage Interest Deduction Heating Up

By Donna S. Robinson | August 3, 2011
With the federal budget deficit at the top of the congressional agenda, Congress has been making noises about eliminating the Mortgage Interest Deduction,(MID). Some economists who are in favor of eliminating the deduction say it could add some 470 billion dollars to federal government coffers, and would make a significant contribution to deficit reduction, while […]
Mortgage, Real Estate, US Real Estate

AmeriFirst Offers Homebuyers New Financing Option

By Allison Halliday | August 2, 2011
AmeriFirst Home Mortgage has been approved as a HomePath® lender which will enable them to offer financing options for anyone purchasing a HomePath (Fannie Mae owned home) property. At the moment there are just a small group of lenders throughout the country that are able to offer HomePath financing which is aimed at helping to […]
Mortgage, Real Estate, Residential, US Real Estate

Bank of America Adopts Different Approach to Cut Foreclosures

By Allison Halliday | July 28, 2011
The biggest US mortgage servicer, the Bank of America, is adopting a different approach towards foreclosures and abandoned properties, which includes demolishing the most decrepit of them. It's donating 100 foreclosed homes in the Cleveland area, in conjunction with a local agency which manages such properties, and in certain cases will contribute towards their demolition. […]
Mortgage, Real Estate, US Real Estate

Short Sale Fraud – Another Real Estate Agent Jailed

By Mike Wheatley | July 26, 2011
A female real estate agent from Connecticut has been sent to prison after admitting her role in an elaborate short sale fraud which is just the latest in a string of cases to hit the headlines in recent months. Norwalk resident Anna McElaney, 38, was given eight months jail time and a three-year supervision order […]
Mortgage, Real Estate, US Real Estate

US Banks Strive to Win Broad Liability Releases

By Allison Halliday | July 25, 2011
Apparently efforts by US banks to win broad liability releases are proving to be a major obstacle in talks to resolve foreclosure practices and mortgage servicing. The liability releases would give the US Banks protection from further state and federal probes into their mortgage practices, including the lending and securitization of loans, and would form […]

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