Mortgage lenders tightened their standards after the subprime-mortgage mess, and that won’t change this year. But mortgage loans can be had. Follow these 10 tips from MSN.com to secure a mortgage at an interest rate and under the terms that are right for you this year: 1. Have the right credit score The best combination …
The number of foreclosure notices filed in November plunged 21%, the biggest month-over-month drop ever recorded by RealtyTrac, the online foreclosure marketer. Filings fell 14% compared with November 2009. The number of Americans who actually lost their homes to bank repossessions plummeted even more steeply — to 67,428. That was off a whopping 28% from …
Continue reading ‘Record plunge in foreclosures, thanks to robo-signers’ »
The Senate passed the financial regulation bill today, which will impact home buyers and lending guidelines. Chief among the changes impacting consumers is the creation a consumer bureau at the Federal Reserve and the requirement that lenders ensure a borrower is able to repay a home loan by verifying income, employment, and credit history. MAKING …
CNNMoney.com had an article on predatory lending: Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn. The new rules, which Congress is expected to vote on this week, require …
Continue reading ‘What Wall Street reform means for your mortgage — No more predatory lending?’ »