Lenders issued $1.04 trillion in home-purchase loans to Southern California homebuyers in the past decade, continuing to dole out the cash even after the housing crash began and homebuying began to die down, a research report shows.
Citing figures from MDA DataQuick, the Pomona-based Real Estate Research Council of Southern California reported that lenders issued an [...]
SoCal mortgages surpass $1 trillion this decade is a post from: Mortgage Insider
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions…
Q. I currently have a 20-year loan with 12 1/2 years remaining, owing $77,000. on a single-family home in Brea worth around $375,000. The existing interest [...]
Hard to justify re-fi when you owe very little is a post from: Mortgage Insider
These homes are in default on loans and have been scheduled for auctions.
Homes facing foreclosure in 17 cities is a post from: Mortgage Insider
The summertime swoon in U.S. mortgage rates continues this week, with averages for home loans falling to yet another record low.
Rates began to inch downwards in June, falling 0.37 of a percentage point in 11 weeks in which the 30-year average either set or met a record low.
Three of the four loan types tracked by [...]
Mortgage rates at record low for 11th week is a post from: Mortgage Insider
Banks with enormous caseloads. Unanswered calls. Repeated requests for documents. It’s no wonder that so many homeowners have given up on trying to get loan modifications.
In a piece for HuffingtonPost.com, Attorney Richard Gaudreau offers some tips on how to get a better result. You may have additional ones.
Excerpts:
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Before you apply for a loan mod, be realistic [...]
In loan mod misery? How to get through it is a post from: Mortgage Insider
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions…
Q. I am in my early 20s and have been at my current job for 3 years now. I make $57,500 a year plus bonuses (usually [...]
Cash is the limiting factor with this loan is a post from: Mortgage Insider
First, in recent mortgage & foreclosure news:
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Thinking of a refi? Tips for borrowers
Upside down? Here’s another way to refinance
Broker: No tsunami of repo’d homes to hit market
Every week, homes throughout Orange County are scheduled for foreclosure auctions. The owners can be millions of dollars in debt, or owe just a few thousand.
Auctions are frequently postponed. But [...]
Homes facing foreclosure in 16 cities is a post from: Mortgage Insider
The lowest mortgage rates in nearly 40 years could give the economy the boost it needs to get back on track for solid growth in the next year, Wells Fargo Bank’s chief financial officer said today.
Many experts think the dramatic drop in 30-year fixed-rate mortgages to 4.36% this week — the lowest since Freddie Mac [...]
Will 4% mortgage rates boost the economy? is a post from: Mortgage Insider
Interest rates for a home loan fell again this past week, the 10th straight week that mortgage rates were at or below record levels, according to the latest Freddie Mac survey.
This weeks average rates were:
Thirty-year fixed-rate loans: 4.36% with 0.7 of a point paid up front. That’s the lowest in records dating back to 1971. [...]
Mortgage rates still inchin’ downwards is a post from: Mortgage Insider
This summer’s bout of falling mortgage rates has sparked yet another frenzy of homeowners looking to refinance their loans.
Now could be a good time to do it, too, with interest rates at their lowest in decades — lower than in 2001, lower than in 2003 and even lower than in 2004, when we last told [...]
Thinking of a refi? Tips for borrowers is a post from: Mortgage Insider
