Mortgage, Real Estate, US Real Estate

Groups Seek to Stop Forced Homeowners Insurance

By Mike Wheatley | March 15, 2012
One of the main requirements for securing a mortgage is homeowners insurance. Lenders want to protect their investments, and so they will nearly always insist on this requirement. This insistence is taken to extremes when a homeowner forget to renew their home insurance policy – the lender will do so for them, forcing them to pay for homeowners insurance that is often very expensive.
Mortgage, Real Estate, Residential, US Real Estate

Foreclosure Settlement between Banks and Government “Very Close”

By Mike Wheatley | January 19, 2012
As many as one million underwater borrowers deemed to be “at risk” of losing their homes could be set for a reprieve through a reduction on their mortgage principle, following reports that the government and America’s biggest banks have nearly reached a deal on mortgage aid.
Mortgage, US Real Estate

Fannie and Freddie Could Raise Fees in 2012

By Mike Wheatley | September 21, 2011
Analysts believe that the government may need to charge higher fees to lenders and increase mortgage insurance from borrowers in order to guarantee loans when they go ahead and overhaul Fannie Mae and Freddie Mac – a move that could lead to increased borrowing costs. The government is trying to boost competitiveness within mortgage markets, […]
Mortgage, Real Estate, US Real Estate

Government Plans To Rent Out Foreclosed Homes

By Mike Wheatley | July 24, 2011
The government is investigating new plans to try and limit the number of foreclosures going onto the market in an effort to prevent unsold foreclosed homes damaging values even more – by simply renting them all out instead. The Wall Street Journal reported that the Obama administration is currently examining the viability of pulling foreclosed […]
Real Estate, Residential, US Real Estate

First-Time Buyers Face Stiff Competition From Investors

By Mike Wheatley | July 1, 2011
What with the way things are in the housing market today, you’d be forgiven for thinking that you have all the time in the world to decide which property to buy. But you would be wrong. It seems that the best homes in the most desirable areas are being snapped up all too quickly, and […]
Mortgage, Real Estate Technology, US Real Estate

Short Sale Incentives For Cash-Strapped Homeowners

By Mike Wheatley | June 29, 2011
Two of the nation’s biggest lenders are giving away cash rewards to struggling Florida homeowners who agree to stave off foreclosure by doing a short sale instead, according to reports in the Florida Sun-Sentinel.   Wells Fargo and JP Morgan Chase haven’t made any official announcements about the initiative, but indebted homeowners have reported that […]
US Real Estate

Banks Ordered to Reimbursh Wrongly Foreclosed Homeowners

By Tavis J. Hampton | April 15, 2011
The U.S. federal government has ordered 16 of the largest lending institutions to pay back those customers who did not get proper foreclosures.  Among those on the list are Citibank, JPMorgan Chase, Bank of America, and Wells Fargo, the four largest banks in America. This is the governments latest jab at mortgage lenders designed to […]
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