Mortgage rates for US Home loans have now climbed to a seven month high of almost 5% and are putting the housing market recovery in jeopardy.   Just when everyone was getting comfortable with 4% fixed mortgages, rates have exploded due mainly to the actions of the federal reserve.   The quantitative easing initiated by the Fed policy makers Read more (…)

In the last few years Mortgage fraud has been surging and is up over 20% since the lowest reported rates of 2009.  A recent report by CoreLogic states that Lenders are experiencing increased levels of fraud particularly with highly popular loan programs such as government insured FHA loans in addition to short sales and REO sales.   Mortgage Read more (…)

Just when you thought Bank of America couldn’t possibly screw up its image anymore than they already have, they do it again. The timing on this latest screw-up could not be any worse and the story reminds me of the old scrooge in the movie A Wonderful Life. Bank of America is called the bank Read more (…)

If you are thinking of purchasing a home in 2011 with a FHA loan, then you need to take a careful look at some recent changes made to the program.  The main advantage of a FHA home loan of course is it’s insured by the Federal Housing Administration and allows home buyers that would most likely Read more (…)

In the last 6 weeks, to the horror of many, mortgage rates have been steadily rising.  In the last week rates reached the 5% mark for a 30 year fixed loan.  Many people fear that if the trend continues it could derail the recovery in housing and in a worst case scenario push the economy into a deeper recession.  Read more (…)

Bank of America, after spending the last several months reviewing its foreclosure policies, has resumed filings with more than 16,000 cases.  Since the October temporary foreclosure ban, Bank of America has watched its stock get pulvarized, dropping over 30%  The review was prompted by accusations of “robo – signers” that were used to sign hundreds of documents Read more (…)

Most people that apply for a Home Mortgage never fully understand the loan process. There are so many lending programs out there that the process can just seem overwhelming. Also, many people just don’t understand the confusing terminology bankers speak. More often than not consumers end up NOT getting the home loan that is best Read more (…)

Everyone has an opinion on which way home loan interest rates are headed and if now is a good time to refi or buy a house.  The problem with forecasting interest rates is no one really knows.  You have about a good of chance at predicting interest rate movements as you do picking the next Read more (…)