WASHINGTON (AP) — Prospective home buyers would get easier-to-understand information on mortgage terms and save an average $700 in closing costs under a proposal to be unveiled Friday by President Bush.
The proposed overhaul to a 1974 law requiring lenders to give what’s called a “good faith estimate” is aimed at making it simpler for consumers […]
U.S. to simplify mortgage process
March 14th, 2008 · Permalink
Paulson: Time to toughen rules on mortgage brokers
March 13th, 2008 · Permalink
Reuters - Financial regulators pledged on Thursday to toughen rules for mortgage brokers, lenders and credit agencies in a bid to ease a credit crunch and to try to restore investor confidence in markets.
Article Source
Bernanke calls for more mortgage relief
March 4th, 2008 · Permalink
AP - Battling a dangerous wave of home foreclosures, Federal Reserve Chairman Ben Bernanke called Tuesday for additional relief and urged lenders to help distressed owners by lowering the amount of their loans.
Article Source
Cuomo cuts deal with Fannie and Freddie
March 3rd, 2008 · Permalink
ALBANY, N.Y. (AP) — New York Attorney General Andrew Cuomo said Monday that prospective home buyers will be protected from fraudulently inflated home prices under a new agreement with government-sponsored lenders Fannie Mae and Freddie Mac.
Cuomo said lenders have pressured appraisers to …
Article Source
Housing relief: It ain’t over ’til it’s over
February 29th, 2008 · Permalink
Senate Republicans this week thwarted efforts by their Democratic counterparts to vote on a housing stimulus bill that President Bush said would “bail out lenders and speculators.”
Article Source
Here Comes The Bad News… Or Good, If You’re A Buyer
February 29th, 2008 · Permalink
The Wall Street Journal reports from California. “As home prices plummet, growing numbers of borrowers are winding up owing more on their homes than the homes are worth, raising concerns that a new group of homeowners, those who can afford to pay their mortgages but have decided not to, are starting to walk away from […]
Help hard to get for troubled home owners
February 27th, 2008 · Permalink
Reuters - As the housing crisis deepens, major
lenders say they will help borrowers avoid foreclosure, but
nonprofit groups and others say their actions are not living up
to their promises.
Article Source
US home foreclosures soar in January
February 26th, 2008 · Permalink
AP - The number of homes facing foreclosure jumped 57 percent in January compared to a year ago, with lenders increasingly forced to take possession of homes they couldn’t unload at auctions, a mortgage research firm said Monday.
Article Source
