Underwater homeowners hanging on

Fears that droves of underwater homeowners will walk away from their homes in “strategic defaults” may be overblown, research by economists at the Federal Reserve Bank of San Francisco suggests. In California, Florida and Nevada, more than one in five mortgages have principal balances that are greater than the estimated value of the homes that …

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What the new consumer protection bureau will do for home buyers

What the new consumer protection bureau will do for home buyers Part of the financial reform bill signed into law by President Obama includes the creation of a Consumer Financial Protection Bureau, which will write new rules and monitor problems and abuses in areas such as residential real estate settlements, credit scores, “truth in lending,” …

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What Wall Street reform means for your mortgage — No more predatory lending?

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 …

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