by countyproperties | Dec 28, 2010 | Current Affairs, Finance, Latest News
Wells Fargo reached an agreement with the state of California to make mortgage modifications valued as much as $2.4 billion on risky mortgages, mortgages that let the borrower decide how much they would pay each month , which is called an option ARMs. Many borrowers...
by countyproperties | Nov 4, 2010 | Current Affairs, Finance
Discount points are fees paid to a lender to purchase a lower interest rate. Also known as a rate buy down. As a result, the monthly loan payment is lower for the life of the loan. One point is 1% of the loan amount. So the cost – paid at closing – for one point on a...
by countyproperties | Oct 28, 2010 | Current Affairs, Finance, Latest News
Today’s mortgage environment is unlike any we’ve seen before. Lenders and mortgage insurers have rewritten the rules of what it takes for consumers to acquire a mortgage. There have been modifications to existing mortgage programs, plus the creation of...
by countyproperties | Oct 21, 2010 | Current Affairs, Finance
Builder confidence in the market for newly built, single-family homes rose three points to 16 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for October, released today. This was the first improvement registered by the HMI in five...
by countyproperties | Oct 18, 2010 | Current Affairs, Finance, Latest News
On Oct. 1, B of A stopped foreclosure proceedings in 23 states, where employees signed foreclosure affidavits without verifying documentation or having a notary present. A week later the bank announced they would be suspending foreclosures in all 50 states. Now Bank...
by countyproperties | Oct 18, 2010 | Current Affairs, Finance
The Homeownership Preservation Foundation (HPF), which provides information and financial education for homeownership, has partnered with NeighborWorks America, HUD, Fannie Mae, Freddie Mac, and the Lawyers Committee for Civil Rights Under Law to help prevent...
