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Articles for Home Loan

  • Massachusetts Mulling Foreclosure Legislation

    Not long after a Massachusetts Supreme Court decision overturned some foreclosures, the state's legislature is set to consider several new laws that could further help financially troubled homeowners avoid losing their property.

  • Massachusetts foreclosure ruling could boost home prices

    A recent ruling by the Massachusetts Supreme Court deemed that thousands of foreclosures in the state were transacted illegally because lenders did not properly transfer them to securitization firms. Now, some believe that decision may end up boosting home prices.

  • Government report says lenders not to blame for crisis

    While there are a number of causes for the national economic meltdown that led to millions of consumers losing their homes, a new government report indicates that the lending practices of major banks was not one of them.

  • Strategic default becoming more popular among homeowners

    In recent months, Americans have seen their home values plunge to the point that they owed more on their mortgage than the property was actually worth. This trend led millions to walk away from the loan in a process called strategic default, and many more now say they would consider doing so.

  • Banks must stop foreclosures during loan modifications

    As the government continues to investigate the practices of major banks relating to the foreclosure crisis that recently gripped the country, lenders are now prohibited from seizing properties if borrowers are in loan-assistance programs.

  • Banks balk at Fannie and Freddie's demands

    Fannie Mae and Freddie Mac have recently begun demanding that lenders buy back defaulted mortgages the government-controlled home loan insurers backed, but the banks are ignoring or refusing those requests.

  • Mortgage rates expected to increase in 2011

    Mortgage rates have remained at or near record lows for a number of months, but now experts are warning that this trend will reverse itself next year as interest rates creep back toward normalcy over the next year.

  • Mortgage boom buoys smaller banks

    Thanks to an increased demand for mortgages, on both new home purchases and refinances of existing loans, many regional banks throughout the Midwest and Southeast have seen marked improvements in their third-quarter earnings.

  • More Americans can't get mortgages because of credit scores

    Many people may be aware that their credit score has a direct affect on their ability to qualify for loans of all types, but mortgage lenders have tightened restrictions so much that a large percentage have been locked out of the home loan market.

  • HAMP loans have lower default rate

    Borrowers who have modified their mortgages under HAMP are less likely to default than homeowners who have secured lower payments through other programs.

  • Lenders extend modified mortgage loans to 40 years

    Banking institutions and mortgage companies continue to be inundated with mortgage modification applications as a record number of Americans try to stave off foreclosure. But many who receive permanent modfications are part of a new trend that allows lenders to extend a homeowner's repayment period to 40 years.


  • Fewer Americans re-defaulting on mortgage modifications

    New reports reveal that homeowners who have obtained modifications as of late are finding it easier to meet their mortgage responsibilities. The latest data from the State Foreclosure Prevention Working Group - a collaboration of 12 state attorneys and banking regulators - revealed that homeowners who received modifications in 2009 were 50 percent less likely to fall behind on payments within a 60-day period in contrast to those who received lower payments in 2008.