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By Stephanie Armour, USA TODAY A new federal rule this year requiring mortgage lenders to give borrowers reliable estimates of closing costs appears to be working — whether it's also costing borrowers more money is uncertain. A recent survey by Bankrate.com found that, on average, origination and third-party fees on a $200,000 purchase mortgage added up to $3,741 — a 37% jump over last year's average of $2,739. |
Showing posts with label deline home ownership. Show all posts
Showing posts with label deline home ownership. Show all posts
Tuesday, August 31, 2010
Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications
Mortgage lending down amid warnings of second house price crash - Telegraph
Photo: CLARA MOLDEN
The latest figures from the Bank of England revealed that net lending – which strips out redemptions and repayments – dropped to just £86 million in July, a steep fall from June’s £518 million.
“These figures tend to be well correlated with prices and they point...">>>>>>>>
U.K. Pound Drops Before Mortgage Data; Gilts Advance on Demand for Safety
The pound declined against the dollar before a report economists say will show U.K. lenders approved fewer mortgages last month, adding to evidence the economic recovery will falter.
EDITOR NOTE: THESE TWO ARTICLES GO TOGETHER - it is appalling that the economic recovery and housing go hand in hand and yet mortgage fraud is allowed to go on without any meaningful reform (my op)
Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications
Monday, August 2, 2010
Lowest Home Ownership Rates since 1960's
Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications
Watching today's news coverage and reading the USA Today's article about the drop in homeownerhip; several things became apparent. The prediction of my realtor friends and dire warnings of the housing depression was mild compared to today's estimates....
6 MILLION - repeat 6 Million out of 8 million homeowners lagging in payments now will ultimately lose their homes to foreclosure.
Face it most Americans love owning their own home and until recently it has been a great financial decision to own a home, less expensive than renting and a matter of pride...But now; not only are some people are afraid to buy, the banking industry is making it harder to qualify for a home, and the government is not addressing the actual unemployment rate in a real and substantive way.
Things need to turn around fast to help protect our neighborhoods and communities.
Right now in our local city you can buy a foreclosed home for between 50 and 100 thousand..... There are bargains out there, but be careful because there are also many homeowners that having been evicted may be suing the bank and trying to get their home back... not the money the home. Remember that many evicted wrongfully have homes that have sentimental value. This promises to be another mess coming down the pike for those that buy without checking title or ignoring problems with title.
According to this Prisonplane Blog :
Watching today's news coverage and reading the USA Today's article about the drop in homeownerhip; several things became apparent. The prediction of my realtor friends and dire warnings of the housing depression was mild compared to today's estimates....
6 MILLION - repeat 6 Million out of 8 million homeowners lagging in payments now will ultimately lose their homes to foreclosure.
Face it most Americans love owning their own home and until recently it has been a great financial decision to own a home, less expensive than renting and a matter of pride...But now; not only are some people are afraid to buy, the banking industry is making it harder to qualify for a home, and the government is not addressing the actual unemployment rate in a real and substantive way.
Things need to turn around fast to help protect our neighborhoods and communities.
Right now in our local city you can buy a foreclosed home for between 50 and 100 thousand..... There are bargains out there, but be careful because there are also many homeowners that having been evicted may be suing the bank and trying to get their home back... not the money the home. Remember that many evicted wrongfully have homes that have sentimental value. This promises to be another mess coming down the pike for those that buy without checking title or ignoring problems with title.
According to this Prisonplane Blog :
If you have read my previous blogposts; you will see that I think fraud has much to do with this foreclosure crisis, housing market crisis, or as some term it, blight on our local communities. Whatever the name for it, there are solutions for your situation. People need to stand up and fight for their homes and for reforms in banking and government."About 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade.
The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report today. The ownership rate, meaning households that own their own residence, was 66.9 percent, the lowest since 1999."
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