Mortgage, Real Estate | featured news

Fannie Mae earned $2.7B in Q1, doesn't' seek aid

Fannie Mae

U.S. mortgage giant Fannie Mae made money in the first three months of the year and is not seeking additional federal aid. It's the first time the company has reported a net income gain since it was taken over by the government during the 2008 financial crisis....

Senh: Yay! They're no longer sucking money from taxpayers.

 

Bank Of America Starts Round 1 Of Mortgage Reductions

Bank of America: Mortgage Principal Reduction

Bank of America is making its first moves as part of its deal with the government in the massive $25 billion mortgage settlement. The nation’s second largest bank said today that it started reaching out to more than 200,000 customers about principal reductions on their mortgages. The letters from the bank are expected to arrive at customers’ homes this week with much of the remaining to be sent out by July.

 

Why You Might Never Want to Pay Your Mortgage Off

Paying Off Mortgage

A couple of weeks ago, I responded to a couple of questions about paying off your mortgage early. This week, I got the opposite question. Given record low mortgage rates, does it even make sense to ever pay off your mortgage at all?

 

Mortgage rates drop, Freddie Mac says; 15-year fixed at record low

Mortgage rates are sharply lower on news of a weakening job market, with the 30-year fixed loan averaging 3.88% this week and the 15-year fixed at a record low of 3.11%, according to Freddie Mac.

 

Geithner says far behind on housing finance reform

Treasury Secretary Timothy Geithner said on Wednesday that the United States was far behind on reforming the country's housing finance system where the government's mortgage buyers Fannie Mae and Freddie Mac provide funding for the bulk of U.S. home loans.

 

Federal regulator stands by his principles on principal reduction

Principal Reduction

Edward J. DeMarco, who oversees Fannie Mae and Freddie Mac, has infuriated many by refusing to tell the home loan giants to reduce the amounts owed by distressed homeowners.

 

Bank of America to reduce principal for up to 200,000 homeowners

Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers.

 

Banks foreclose on churches in record numbers

Church

Banks are foreclosing on America's churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data.

 

Mortgage rates hold steady at all-time lows

Mortgage rates remained unchanged for the second consecutive week, holding steady this week at an all-time low of 3.87 percent for the average 30-year fixed rate, according to the latest Freddie Mac Mortgage Market survey released Thursday.

 

30-Year Mortgage Stays at Record Low

The 30-year-fixed mortgage rate held the record low of 3.87% it hit a week ago, while average interest rates on the 15-year-fixed mortgage and other loan products inched higher.

 

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