Real Estate Debt and Delinquencies on the Decline

Real estate-related debts are on the decline, as are overall delinquencies, according to a quarterly report from the Federal Reserve Bank of New York. Debt maintained through mortgages and home equity lines of credit (HELOC) declined $146 billion during the fourth quarter of last year. Mortgages made up a majority of the decline – $134 …

Continue reading ‘Real Estate Debt and Delinquencies on the Decline’ »

Top six reasons mortgage applications are rejected

Half of refinance applications are abandoned or rejected, as are 30 percent of purchase mortgage applications, according to the Mortgage Bankers Association. All told, the Federal Financial Institutions Examination Council (FFIEC) says that well over 2 million mortgage applications were rejected last year. Want to avoid falling into that number? It’s tough — especially in …

Continue reading ‘Top six reasons mortgage applications are rejected’ »

Lenders likely to order second, last-minute credit report before closing on a mortgage

The Los Angeles Times had an insightful article that serves as a precaution to those obtaining a mortgage.   Please continue on to read Kenneth R. Harney’s article: If you’re thinking about applying for a home mortgage this year, here’s some important news: Beginning June 1, your lender is likely to order a second full credit …

Continue reading ‘Lenders likely to order second, last-minute credit report before closing on a mortgage’ »