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Topic: Loan to Value
Since the plan’s inception, the administration has tweaked the program to deal with second mortgages and to allow an increase in Loan to Value of up to 125%, where the home loan debt is worth 25% more than the home’s fair market value. New data from Equifax and Moody’s, as reported in The Wall Street Journal shows that these changes may not be enough.
By Paul M. J. Suchecki
Tags: Falling Home Value, first time home buyer credit, home purchase, mortgage...
No CommentsIt’s starting to look like a good time to buy a home. Last week, according to the Mortgage Banker’s Association, US mortgage applications lifted from a seven month low. Existing home sales rose by 9.2% in May compared to April. It was the first back-to-back monthly increase since September 2005, before the mortgage crisis hit.
It’s [...]
Today you can not only see your home from the air on Google Earth, but you can find out roughly how much it is worth. The two biggest free websites that offer this service are Zillow with 90 million homes listed and Cyberhomes now up to 76 million.
Knowing the estimated current market value of your [...]
When first launched last month, the Obama foreclosure plan was geared to deal with primary mortgages, but according to Credit Suisse Group, about half of badly delinquent borrowers also carry a second home loan. With falling equity, these borrowers have been placed in an untenable position. Now the Obama Plan is poised to help with [...]
By Paul M. J. SucheckiTags: foreclosure prevention, homeowner help, Loan Modification, mortgage advice...No CommentsWhen the news seems bad, it’s all too easy to curl up into a ball and hope that the world goes away. Denial and paralysis get you nowhere fast.
As I write this, I just learned the news of the biggest real estate bankruptcy in American History. General Growth, the owner of California’s Glendale Galleria has [...]
Deficiency Judgment Nationwide Mortgage Licensing System personal finance Default credit cards mortgage fraud Jumbo Loan Short-Fi Loan Default Short Sale second mortgage Conforming Loan Loss Mitigation bankruptcy Uncategorized mortgage Loan to Value first time home buyer tax credit unemployment Upside Down Real Life Stories Obama Financial Reform Obama Housing Plan Refinance Falling Home Value Lenders home value Mortgage Revision Credit economic news Loan Modification Foreclosure Help
March 10, 2010 1 Responses
New Short Sale Program By Paul M. J. Suchecki
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December 30, 2009 10 Responses
Optimism, Albeit Guarded By Paul M. J. Suchecki
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Optimism, Albeit Guarded By Paul M. J. Suchecki
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December 30, 2009 10 Responses
Optimism, Albeit Guarded By Paul M. J. Suchecki
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