According to a report just released by the Office of the Comptroller of the Currency and the Office of Thrift Supervision, delinquency rates on the least-risky mortgages more than doubled in the first quarter from a year earlier as U.S. efforts to help homeowners failed to keep pace with job losses that pushed more borrowers […]
Monthly Archives:: June 2009
July 16th Stockton Seminar – How to use you IRA to purchase real estate!
Take Control with a Self-Directed IRA. Pat Holkesvig and Your Home Team are hosting two FREE seminars on the basics of Self-Directed IRA investing. The seminars will be at 1 and 6 P.M. on July 16th. We will provide you with the opportunity to understand what you can gain through a self-directed IRA. Topics will […]
California’s 90 Day Foreclosure Moritorium is a Sham!
Our great state legislature passed a bill providing for a 90 day moratorium on foreclosures. Sounds good right? Truth is that the 90%+ of the mortgages facing foreclosure are being serviced by companies that are exempt from the bill. What was the point of the legislation? Clueless in Sacramento! A list of the exempt servicers […]
New Study Suggests More Than 25% of Mortgage Defaults Are Strategic!
Current housing policy is attempting to address the needs of home owners facing a cash crunch. Not being addressed however are the homeowners who now are 40 – 60% underwater with their existing mortgages. These homeowners may be able to afford the payment but some are making an economic decision not to. Many have not […]
Loan Delinquencies Increase in May
According to Lender Processing Services Inc.’s (LPS) Monthly Mortgage Monitor, the spread between loans that are improving and loans that are deteriorating grew to the widest it’s been since November 2008. The deterioration ratio, which compares deteriorating loans against improving loans, stood at 277%. The highest deterioration rates occurred in Nevada, Arizona, Hawaii and California. […]
Mortgage rates are on the rise
The benchmark 30-year fixed-rate mortgage rose 30 basis points to 5.95%, according to Bankrate.com, while the 15-year fixed-rate rose 31 basis points to 5.37%. In the last 3 weeks the 30-year fixed-rate mortgages have increased from 5.29% to an average 5.59% with an average 0.7 point for the week ending June 11. The 15-year fixed-rate […]
Are housing prices starting to stablize?
According to the President of Integrated Asset Services, “It’s too soon to call this a turn in the housing market, particularly given all the political and regulatory uncertainties, I think that we’re still in for some difficult spells ahead, but we are seeing a certain kind of pricing equilibrium in several important markets. That’s encouraging […]
Obama plan has small impact on US mortgage prepays
It seems that the combination of President Obama’s housing program to boost mortgage modifications and refinancing accompanied by rock-bottom loan rates wasn’t enough to create the desired mortgage bond repayment wave in May. Wall Street has predicted for months that prepayments would surge as the Obama plan kicked in and mortgage rates hit record lows. […]
FTC Seeks Public Comment on Mortgage Rescue Practices
Now is the chance to have your voice be heard. The Federal Trade Commission (FTC), has announced it is seeking public comment relating to the fairness of loan modification and foreclosure rescue practices. Public comment will allow the FTC to assess whether rules would be useful in protecting consumers of these services, and the commission […]