Mortgage News Mar 2009

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Federal Home Loan Bank of Atlanta to Award More Than $4 Million for Affordable Housing in South Carolina
Federal Home Loan Bank of Atlanta announced today that it will award more than $4 million to help finance 603 affordable housing units in South Carolina. (Wed, 04 Mar 2009 21:38:00 GMT)

Home Equity Loan Can Be an Obstacle to Refinancing
With interest rates low, many homeowners are considering refinancing their mortgages these days. But even if you have excellent credit and plenty of equity, there might be one last obstacle to overcome: your home equity loan. (Wed, 04 Mar 2009 22:15:41 GMT)

Real Deal: Refinance Your Mortgage Loan
You've heard all about the rock-bottom mortgage rates. So is this the best time to refinance? Consumer reporter Michelle Buckman has some questions you first need to ask yourself before you call the bank. (Wed, 04 Mar 2009 23:01:56 GMT)

How you can get in on mortgage refinance, modification plans
The Obama administration on Wednesday issued more details on refinancing and modifying mortgages under the government’s new Making Home Affordable program, opening the way for troubled homes to get some help from their lenders. (Wed, 04 Mar 2009 23:17:48 GMT)

Federal fix could help Mississippians refinance their mortgages
JACKSON, MS (WLBT) - The new federal program to rescue unstable mortgages has kicked in. Borrowers can now call their loan servicers to seek assistance on that mortgage they're struggling to pay. The program offers incentives to banks to refinance loans at a lower cost. (Wed, 04 Mar 2009 23:20:11 GMT)

U.S. Mortgage Demand Off for Second Straight Week
Applications for loans to buy U.S. homes and to refinance existing mortgages fell for the second straight week, the Mortgage Bankers Association said on Wednesday, as consumers awaited for specific details on President Barack Obama's housing stimulus plan. (Wed, 04 Mar 2009 23:21:00 GMT)

Lawmaker goes after ex-Fannie CEO over loan deal
A Republican lawmaker is accusing the former chief executive of mortgage finance company Fannie Mae of being dishonest in testimony before Congress about discounts he received on his home loan. (Wed, 04 Mar 2009 23:38:16 GMT)

Lawmaker goes after ex-Fannie CEO over loan deal
A Republican lawmaker is accusing the former chief executive of mortgage finance company Fannie Mae of being dishonest in testimony before Congress about discounts he received on his home loan. Rep. Darrell Issa of California released documents Wednesday that... (Wed, 04 Mar 2009 23:59:43 GMT)

What The Mortgage Relief Plan Means To You
President Barack Obama's new mortgage relief plan, launched Wednesday, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Are you one of them?       Obama's "Making Home Affordable" program is designed to work with lenders to modify the loan terms for up to 4 million homeowners and to refinance up to 5 million homeowners into more affordable ... (Thu, 05 Mar 2009 00:06:51 GMT)

Trying to Stem Foreclosures, Virginia Legislators Crack Down on Unethical Mortgage Brokers
RICHMOND -- Sandra Berrios was at home, cooking dinner for her sons, when she received a call from a mortgage broker offering to refinance her four-bedroom townhouse in Lorton. (Thu, 05 Mar 2009 01:52:01 GMT)

Here are the basic guidelines for the Obama administration’s mortgage-modification and mortgage-refinancing package. A ...
I have two mortgages. Will a Making Home Affordable modification reduce the payments on both? (Thu, 05 Mar 2009 02:00:58 GMT)

Questions and answers about President Obama's mortgage relief plan
President Barack Obama's new mortgage relief plan, launched Wednesday, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Are you one of them? (Thu, 05 Mar 2009 02:03:51 GMT)

MORTGAGE MELTDOWN / Details of plan to rescue housing / Ways to keep people afloat: refinance, modify loans
The Obama administration unveiled key details of its housing market rescue program on Wednesday, including a ceiling on mortgages eligible for modification that was raised high enough to potentially help hundreds of thousands of struggling Californians, real... (Thu, 05 Mar 2009 02:54:31 GMT)

MORTGAGE MELTDOWN / Details of plan to rescue housing / Ways to keep people afloat: refinance, modify loans
The Obama administration unveiled key details of its housing market rescue program on Wednesday, including a ceiling on mortgages eligible for modification that was raised high enough to potentially help hundreds of thousands of struggling Californians, real... (Thu, 05 Mar 2009 03:00:55 GMT)

Obama mortgage plan may help keep Seattleites afloat
The Obama administration's new mortgage plan should help many troubled homeowners in the Seattle area, although it could do more, according to local experts. (Thu, 05 Mar 2009 03:21:42 GMT)

Home loan lenders want FHOG extended
HOME loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. (Thu, 05 Mar 2009 04:16:00 GMT)

Home loan lenders want FHOG extended
HOME loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. (Thu, 05 Mar 2009 04:16:00 GMT)

Home loan lenders want FHOG extended
HOME loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. (Thu, 05 Mar 2009 04:16:00 GMT)

Home loan lenders want FHOG extended
HOME loan providers want the federal government to extend the increased first home owners' grant beyond June to help buoy the sluggish housing market. (Thu, 05 Mar 2009 04:16:00 GMT)

Understanding the Mortgage Plan
The Obama administration offered new details of its Homeowner Affordability and Stability Plan yesterday. It aims to help up to 9 million homeowners lower their mortgage payments. (Thu, 05 Mar 2009 05:00:00 GMT)

Man gets probation for mortgage fraud conspiracy
The first African-American city councilman in Uniontown was sentenced to three years of probation and ordered to pay nearly $700,000 in restitution for his conviction on one count of conspiracy to to commit mortgage fraud. (Thu, 05 Mar 2009 05:46:08 GMT)

Little local effect foreseen by mortgage experts
The Obama administration on Wednesday began a new $75 billion mortgage rescue plan aimed to help 9 million homeowners keep their homes by refinancing mortgages. (Thu, 05 Mar 2009 05:55:00 GMT)

Family weighs refinancing options
Jason and Dorothy Malsbury started thinking about refinancing their Lawrence home a year ago. Their mortgage interest rate was a little over 6 percent and they thought they could get a better deal because of their good credit rating. “We thought we could get a nice, low rate, but that wasn’t the way banks were working at the time,” Dorothy Malsbury said. (Thu, 05 Mar 2009 07:08:37 GMT)

Ex-Fannie Mae CEO got mortgage deal
Franklin Raines, the former chief executive of Fannie Mae, used a special program at mortgage lender Countrywide Financial to receive a below-market rate on a home loan, contrary to sworn testimony he made to Congress in December, according to the top Republican on the House Committee on Oversight and Government. (Thu, 05 Mar 2009 08:03:37 GMT)

Q & A: Many rules apply to those seeking mortgage relief
WASHINGTON – The Obama administration thinks that its "Making Home Affordable" plan will help 9 million homeowners refinance problem mortgages or modify them in order to avoid foreclosure. Who qualifies for help of what kind? Here are some answers. How do I know if I qualify? Your mortgage must predate the start of 2009, you must live in the home and you'll have to provide proof of ... (Thu, 05 Mar 2009 08:21:50 GMT)

Thousands in South Florida could be in line for home loan relief
The Obama administration released details Wednesday on how its $75 billion housing rescue plan could help about nine million borrowers nationwide who could qualify for a loan modification or refinancing. (Thu, 05 Mar 2009 08:33:06 GMT)

SINGAPORE MAYBANK OFFERS 3-YEAR FIXED RATE LOAN
SINGAPORE, March 5 (Bernama) -- Maybank is offering Singaporeans a three-year fixed rate home loan refinancing package that starts at 1.6 percent per annum. (Thu, 05 Mar 2009 10:28:43 GMT)

Some see salvation in mortgage bill
The U.S. House is scheduled to vote today on a bill that would allow bankruptcy judges to alter mortgage terms if no other options remain for homeowners. (Thu, 05 Mar 2009 10:40:36 GMT)

Are you one of 9 million? Mortgage Q&A
President Barack Obama's mortgage relief plan aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. (Thu, 05 Mar 2009 10:58:44 GMT)

Annaly Takes Over Defaulted $1.5 Billion McKinley Mortgage CDO
March 5 (Bloomberg) -- A unit of Annaly Capital Management Inc. , a mortgage real estate investment trust, took over management of McKinley Funding III Ltd., a $1.5 billion defaulted collateralized debt obligation. (Thu, 05 Mar 2009 11:45:35 GMT)

Mortgage applications fall as refinancings slow
Mortgage applications fell last week, as refinancing activity slowed. The Mortgage Bankers Association said Wednesday its weekly application index fell 12.6 percent for the week ended Feb. 27. The index came in at 649.7, down from 743.5 a week earlier, which was a shortened week due to the Presidents' Day holiday. (Thu, 05 Mar 2009 11:59:17 GMT)

Thousands in South Florida could be in line for home loan relief
The Obama administration released details Wednesday on how its $75 billion housing rescue plan could help about nine million borrowers nationwide who could qualify for a loan modification or refinancing. (Thu, 05 Mar 2009 12:25:44 GMT)

Mortgage rates remain unchanged
A lousy week on Wall Street didn't have much effect on mortgage rates. (Thu, 05 Mar 2009 12:45:02 GMT)

Mortgage Bailout: Details on Rates and Incentives
On Mar. 4 the Treasury Dept. released final guidelines for banks and homeowners looking to participate in a new $75 billion program called "Making Home Affordable." Among the new details of the program, which is now up and running: cash payments for mortgage holders who choose not to foreclose on borrowers and new rates as low as 2% for borrowers. The Obama Administration also indicated it will ... (Thu, 05 Mar 2009 13:08:41 GMT)

Q&A: Does the mortgage relief plan help you?
President Obama's new mortgage relief plan aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Are you one of them? Here are some questions and answers about the latest round of aid for homeowners. Q: How do I know if I qualify for the refinancing part of the plan? A: Only homeowners in good standing whose loans are held by Fannie Mae or Freddie ... (Thu, 05 Mar 2009 13:53:50 GMT)

Major lenders cut mortgage rates
Some of the biggest UK mortgage lenders are quick to announce a reduction in variable rates after the latest Bank rate cut. (Thu, 05 Mar 2009 15:38:20 GMT)

MORTGAGE MELTDOWN / Details of plan to rescue housing / Ways to keep people afloat: refinance, modify loans
The Obama administration unveiled key details of its housing market rescue program on Wednesday, including a ceiling on mortgages eligible for modification that was raised high enough to potentially help hundreds of thousands of struggling Californians, real... (Thu, 05 Mar 2009 15:44:25 GMT)

Mortgage Meltdown Q&A
Q: I tried to refinance my home with the mortgage rates as low as they are, and I haven't been able to. I am barely making ends meet, but I haven't been late on my mortgage. Do I need to lose my home to get help? Is there a program that can help someone like me? (Thu, 05 Mar 2009 16:13:41 GMT)

Foreclosures Drove up 2008 U.S. Home Sales
Foreclosures drove U.S. home sales up 7 percent in 2008 after a 40 percent plunge the prior year, with eligible buyers lured by deep discounts and low loan rates, according to real estate data company Radar Logic. (Thu, 05 Mar 2009 16:20:59 GMT)

Mortgage Delinquencies Take Record Leap In 4Q
Mortgage Delinquencies Take Record Leap In 4Q (Thu, 05 Mar 2009 16:27:00 GMT)

U.S. mortgage rates rise in week
WASHINGTON, March 5 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages rose in the week ending March 5, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 05 Mar 2009 17:00:11 GMT)

Mortgage rates hold steady
Mortgage rates remained flat last week, as President Obama unveiled a $75 billion plan to help prevent foreclosures. (Thu, 05 Mar 2009 17:03:05 GMT)

Mortgage woes break records again in 4Q
A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed. (Thu, 05 Mar 2009 17:54:55 GMT)

Mortgage woes break records again in 4Q
A stunning 48 percent of the U.S. homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed. (Thu, 05 Mar 2009 17:55:03 GMT)

Mortgage troubles hit fresh highs in US
US mortgage woes hit fresh highs in the fourth quarter of 2008 with more than one out of 10 homeowners late on their payments, an industry survey showed Thursday. (Thu, 05 Mar 2009 18:03:08 GMT)

Fannie Mortgage Borrowers Get Less Aid Under Refinancing Plan
March 5 (Bloomberg) -- Homeowners with Fannie Mae mortgages may get less payment relief than those with Freddie Mac loans under the firms’ implementations of President Barack Obama’s refinancing plan for borrowers with little or no home equity. (Thu, 05 Mar 2009 18:46:55 GMT)

Home Equity Loan: Obstacle to Refinancing?
With interest rates low, many homeowners are considering refinancing their mortgages these days. But even if you have excellent credit and plenty of equity, there might be one last obstacle to overcome: your home equity loan. (Thu, 05 Mar 2009 19:46:01 GMT)

Freddie Mac: Mortgage Rates Follow Bond Rates Higher
The 30-year fixed-rate mortgage jumped to 5.15% from last week’s average of 5.07%. (Thu, 05 Mar 2009 20:26:10 GMT)

Bankruptcy home loan bill heads for House passage
A plan to give debt-strapped homeowners a chance to win lower mortgage payments through bankruptcy courts headed for House approval Thursday as a new report revealed that foreclosures and past-due home loans hit a record 5.4 million last year. (Thu, 05 Mar 2009 20:56:34 GMT)

12 pct. are behind on mortgage or in foreclosure
A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed. But that's not the worst of it. (Thu, 05 Mar 2009 21:09:16 GMT)

FEC: Obama mortgage a good, legal deal
The Obamas got a discount on their mortgage, but most folks in their position would have gotten the same deal, according to a report released Thursday by the Federal Election Commission. (Thu, 05 Mar 2009 21:55:00 GMT)

Many in Mass. may get mortgage help
More than 100,000 Massachusetts homeowners who cannot refinance at current low rates because of falling property values may now be able to do so as part of the Obama administration's housing plan. (Thu, 05 Mar 2009 22:05:25 GMT)

Bankruptcy home loan bill heads for House passage
A plan to give debt-strapped homeowners a chance to win lower mortgage payments through bankruptcy courts headed for House approval Thursday as a new report revealed that foreclosures and past-due home loans hit a record 5.4 million last year. (Thu, 05 Mar 2009 22:16:02 GMT)

12 pct. are behind on mortgage or in foreclosure
A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed. But that's not the worst of it. (Thu, 05 Mar 2009 22:27:53 GMT)

Bankruptcy home loan bill passes House
A plan to give debt-strapped homeowners a chance to lower their mortgage payments through bankruptcy courts won House approval Thursday as a report revealed that foreclosures and past-due home loans hit a record 5.4 million last year. (Fri, 06 Mar 2009 00:10:18 GMT)

Bankruptcy home loan bill passes House
A plan to give debt-strapped homeowners a chance to lower their mortgage payments through bankruptcy courts won House approval Thursday as a report revealed that foreclosures and past-due home loans hit a record 5.4 million last year. The legislation, part of... (Fri, 06 Mar 2009 00:14:57 GMT)

US lawmakers approve mortgage relief bill
Amid a storm of foreclosures and other housing woes, the US House of Representatives passed legislation Thursday to give bankruptcy judges power to lower some homeowners' mortgage payments. (Fri, 06 Mar 2009 00:31:34 GMT)

US home loan arrears affect one in nine
One in every nine US homeowners with a mortgage was behind on home loan payments or in some stage of foreclosure at the end of 2008, as mounting job losses exacerbated the housing crisis, the Mortgage Bankers Association said on Thursday. (Fri, 06 Mar 2009 00:31:35 GMT)

Real Estate: Mortgage-help plans invite fraud; five ways to protect yourself
Government officials are busy seeking to identify and stop a burgeoning cottage industry of “loss mitigation specialists,” companies that charge upfront fees, sometimes thousands of dollars, to purportedly provide assistance or mortgage relief services in modifying loans. (Fri, 06 Mar 2009 00:47:48 GMT)

Realty Q&A: What to do when your best-laid mortgage plans go astray
Paying your mortgage on a timely basis does, indeed, count for something, as does paying your other debt on time. It shows that you handle credit well. But equity -- how much money you bring into the deal -- counts for more. (Fri, 06 Mar 2009 00:47:58 GMT)

House approves mortgage bankruptcy overhaul
Bankruptcy judges could cut the mortgage debt of homeowners in bankruptcy court as a last resort to avert foreclosure, under a bill approved by a 234-191 vote on Thursday in the U.S. House of Representatives. (Fri, 06 Mar 2009 00:54:44 GMT)

Bankruptcy home loan bill passes House
A plan to give debt-strapped American homeowners a chance to lower their mortgage payments through bankruptcy courts won House of Representatives approval Thursday as a report revealed that foreclosures and past-due home loans hit a record 5.4 million last year. (Fri, 06 Mar 2009 02:01:36 GMT)

How you can act on new mortgage rules
IF YOU OWE MORE THAN YOUR HOME IS WORTH: You could qualify for refinancing into a low-interest loan through Fannie Mae or Freddie Mac if they already own or back your home loan. Many people don't even know if Fannie or Freddie hold their loans, so call the company that sends you your statement each month and ask. You also can go directly to Fannie and Freddie's Web sites ( www.fanniemae.com ... (Fri, 06 Mar 2009 02:10:44 GMT)

Bankruptcy home loan bill passes House
WASHINGTON — A plan to give debt-strapped homeowners a chance to lower their mortgage payments through bankruptcy courts won House approval Thursday as a report revealed that foreclosures and past-due home loans hit a record 5. (Fri, 06 Mar 2009 02:11:32 GMT)

Maybank rolls out new home loan refinancing package
Maybank is rolling out a home loan refinancing package that offers home owners stability and assurance amidst volatile times, at no cost if they meet certain criteria. Available for loans of any amoun (Fri, 06 Mar 2009 03:41:24 GMT)

Mortgage ‘Cram-Down’ Bankruptcy Bill Approved by U.S. House
March 5 (Bloomberg) -- Legislation to let at least 1 million Americans reduce their mortgage payments through bankruptcy won House approval today as part of Democratic efforts to stem a U.S. housing crisis that has erased more than $2.4 trillion in home values. (Fri, 06 Mar 2009 05:11:18 GMT)

Home loan woes at new high
Home loan delinquencies and foreclosures again reached record highs in the latest quarter as lingering defaults on loans made to more creditworthy borrowers rose sharply in many states, including New Jersey. (Fri, 06 Mar 2009 06:52:12 GMT)

ICICI Bank cuts India home loan rates by 25-50 bps
MUMBAI, March 6 (Reuters) - Indian private sector lender ICICI Bank has cut its home loan rates by 25-50 basis points for new customers effective immediately, a spokesman said on Friday. (Fri, 06 Mar 2009 08:38:52 GMT)

ICICI Bank cuts India home loan rates by 25-50 bps
MUMBAI, March 6 (Reuters) - Indian private sector lender ICICI Bank has cut its home loan rates by 25-50 basis points for new customers effective immediately, a spokesman said on Friday. (Fri, 06 Mar 2009 08:38:52 GMT)

ICICI Bank cuts home loan rates by 25-50 bps
NEW DELHI: After the recent rate cuts by the RBI, ICICI Bank has cut the interest rates in new home loans by 25-50 bps. With the cuts, new rate for loan upto Rs 20 lakh would be 9.75%. Rate for loans between Rs 20 to 30 lakh is 10% and the rate for loan above Rs 30 lakh is 11.5%. (Fri, 06 Mar 2009 08:55:22 GMT)

(AFX UK Focus) 2009-03-06 08:53 ICICI Bank cuts India home loan rates by 25-50 bps
MUMBAI, March 6 (Reuters) - Indian private sector lender ICICI Bank has cut its home loan rates by 25-50 basis points for new customers effective immediately, a spokesman said on Friday. The bank lowered the rate to 9.75 percent from 10 percent on home loans of less than 2 million rupees. The rate on loans for 2-3 million rupees has dropped to 10 percent from 10.5 percent, and for above 3 ... (Fri, 06 Mar 2009 09:20:11 GMT)

Questions, answers on bankruptcy mortgage rewrites
With foreclosures continuing at a rapid pace, the House has passed a measure to let debt-strapped homeowners seek reduced monthly mortgage payments by filing for bankruptcy. The legislation, passed Thursday, is not yet final and more changes may be made. Some questions and answers about the bill: (Fri, 06 Mar 2009 09:48:22 GMT)

Questions, answers on bankruptcy mortgage rewrites
With foreclosures continuing at a rapid pace, the House has passed a measure to let debt-strapped homeowners seek reduced monthly mortgage payments by filing for bankruptcy. The legislation, passed Thursday, is not yet final and more changes may be made. Some... (Fri, 06 Mar 2009 10:29:31 GMT)

Bailout monitor welcomes mortgage bankruptcy plan
The head of a panel overseeing bailout money is giving high marks to legislation that would let debt-strapped homeowners seek reduced mortgage payments by filing for bankruptcy. (Fri, 06 Mar 2009 12:40:02 GMT)

Mortgage ‘Cram-Down’ Bankruptcy Bill May Aid 1 Million in U.S.
March 6 (Bloomberg) -- At least 1 million Americans would be able to use bankruptcy to reduce mortgage payments under legislation approved by the House yesterday, part of Democratic efforts to stem a crisis that has erased more than $2.4 trillion in home values. (Fri, 06 Mar 2009 12:59:30 GMT)

Mortgage relief program: Will you benefit?
President Obama's new mortgage relief plan, launched Wednesday, aims to help up to 9 million borrowers qualify for more affordable mortgages and stay in their homes. Are you one of them? (Fri, 06 Mar 2009 13:03:59 GMT)

Home loan penalty charges 'to be slashed'
Home loan penalty charges 'to be slashed' (Fri, 06 Mar 2009 13:11:17 GMT)

Mortgage payment woes increase in Louisiana
One of every 10 Louisiana homeowners has fallen at least 30 days behind in mortgage payments, with nearly one in three with subprime adjustable rates overdue, new data for the fourth quarter of 2008 showed Tuesday. (Fri, 06 Mar 2009 13:24:48 GMT)

Bailout monitor welcomes mortgage bankruptcy plan
The head of a panel overseeing bailout money is giving high marks to legislation that would let debt-strapped homeowners seek reduced mortgage payments by filing for bankruptcy. (Fri, 06 Mar 2009 14:21:38 GMT)

Rules now in place for mortgage modification
People with unaffordable mortgages now have one set of rules, applicable nationwide, to determine whether they can get lower monthly payments. Folks who can afford their mortgages but need help to refinance to lower rates don't get a lot of help. ... (Fri, 06 Mar 2009 14:21:56 GMT)

Questions, answers on bankruptcy mortgage rewrites
With foreclosures continuing at a rapid pace, the House has passed a measure to let debt-strapped homeowners seek reduced monthly mortgage payments by filing for bankruptcy. The legislation, passed Thursday, is not yet final and more changes may be made. Some questions and answers about the bill: (Fri, 06 Mar 2009 14:24:47 GMT)

Home loan woes at new high
Home loan delinquencies and foreclosures again reached record highs in the latest quarter as lingering defaults on loans made to more creditworthy borrowers rose sharply in many states, including New Jersey. (Fri, 06 Mar 2009 15:07:12 GMT)

Mortgage ‘Cram-Down’ Bankruptcy Bill May Aid 1 Million in U.S.
March 6 (Bloomberg) -- At least 1 million Americans would be able to use bankruptcy to reduce mortgage payments under legislation approved by the House yesterday, part of Democratic efforts to stem a crisis that has erased more than $2.4 trillion in home values. (Fri, 06 Mar 2009 15:09:31 GMT)

Column: Should you refinance your mortgage?
Mortgage rates have dropped to historically low levels in recent months. If you already have a mortgage and wonder if you could benefit by refinancing your home loan, it may be worth a closer look. But refinancing is a complex process, one that can be costly, as well. You want to be sure that refinancing is right for your circumstances.   (Fri, 06 Mar 2009 15:42:42 GMT)

I Pay My Mortgage: What's in the Housing Bailout For Me?
Even if the housing rescue doesn't lower your mortgage payments, it may still benefit you. (Fri, 06 Mar 2009 15:56:39 GMT)

Mortgage Rates Up Slightly to 5.15%
Freddie Mac released its latest Primary Mortgage Market Survey on Thursday. (Fri, 06 Mar 2009 17:12:42 GMT)

ICICI slashes home loan rates, Rs 20 lakh now at 9.75 per cent
COMMENT ON THIS ! Your Views! ICICI Bank took on State Bank of India to intensify a home loan rate war on Friday by announcing a quarter-to-half percentage point cut in lending rates split into three slabs. Loans of up to Rs. 20 lakh will now come at 9.75 per cent, but only for new customers. (Fri, 06 Mar 2009 18:04:21 GMT)

Brooklyn DA's office to create mortgage scam unit
Brooklyn prosecutors will soon have a team of investigators dedicated to unraveling mortgage scams. Kings County District Attorney Charles Hynes is expected to announce on Friday the creation of a real estate fraud unit in his office that will focus exclusively on mortgage fraud cases throughout the borough. (Fri, 06 Mar 2009 18:07:24 GMT)

Report: Obama mortgage program has some issues
The Obama administration’s new mortgage modification plan is a positive step forward but questions remain about how the government will enforce new standards and what agency officials plan to do about problematic second mortgages, according to a new congressional oversight panel report. (Fri, 06 Mar 2009 18:13:26 GMT)

Mortgage-Prepayment Increase Slows as Refi Boom Ebbs for Now
March 6 (Bloomberg) -- Prepayments on mortgages backing Fannie Mae , Freddie Mac and Ginnie Mae securities rose at a slower pace last month, as refinancing sparked by new-loan rates that touched record lows tailed off before an expected refinancing surge in future months as the Obama administration’s refi plan takes effect. (Fri, 06 Mar 2009 18:15:12 GMT)

Personal Finance Daily: Vulnerable homeowners face fleecing by mortgage fraudsters
The government laid out more of its mortgage-relief program details this week, providing some answers to the questions as to who will be eligible for refinancing or loan modifications and what homeowners will need to do if they hope to take advantage of the efforts. (Fri, 06 Mar 2009 19:15:46 GMT)

Mortgage makeover promised
Millions of troubled mortgage holders may get a new lease on their economic life. March 4 marked the beginning of the Obama administration's $75 billion bailout program for loan modification or refinancing that might affect 9 million homeowners. But don't call yet. The wheels of change grind slowly. (Fri, 06 Mar 2009 23:06:30 GMT)

Recession-proof mortgage? Lender will pay if you lose job
Call it a recession-proof mortgage. If you buy a home and lose your job, one Scottsdale-based lender is offering to make payments for you. "It's designed to give a little relief - a little piece of mind," said Mike Thompkins, a building division manager for State Mortgage. (Sat, 07 Mar 2009 01:27:14 GMT)

Obama, seeking revenue in mortgage interest deduction, provokes push-back
Seeking revenue in the mortgage interest tax deduction, Obama wants to reduce the break for the wealthy. Call it the third rail of the federal tax system: the politically untouchable cluster of special benefits and subsidies set aside for homeowners, including deductions for mortgage interest and local property taxes along with capital gains exclusions on up to $500,000 in sale profits. (Sat, 07 Mar 2009 01:46:47 GMT)

A Mortgage Muddle for Homeowners With Lots of Equity but Little Income
A common problem among older homeowners is that they no longer have the income to service their mortgage and don't have a good way to convert the substantial equity in their house into cash flow. The case below is typical. (Sat, 07 Mar 2009 03:05:06 GMT)

Should you transfer your home loan?
BankBazaar.com is an online marketplace where you can instantly get loan rate quotes, compare and apply online for your personal loan , home loan and credit card needs from India's leading banks and NBFCs. (Sat, 07 Mar 2009 04:19:54 GMT)

Bankruptcy home loan bill passes House
WASHINGTON -- A plan to give debt-strapped homeowners a chance to lower their mortgage payments through bankruptcy courts won House approval Thursday as a report revealed that foreclosures and past-due home loans hit a record 5.4 million last year. (Sat, 07 Mar 2009 09:45:05 GMT)

Mortgage Debt Forgiveness
If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income. (Sat, 07 Mar 2009 11:11:06 GMT)

TD, Scotiabank lower mortgage rates
TORONTO -- At least two of Canada's big banks are lowering some of their mortgage rates. (Sat, 07 Mar 2009 11:19:58 GMT)

Mortgage woes set records
A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed. (Sat, 07 Mar 2009 11:40:15 GMT)

New appraisal approach affects fiinancing in some areas
Mortgage interest rates dropped to an average rate of 5.04 percent, not including fees, during the week ending Dec. 19, 2008, according to the Mortgage Bankers Association (MBA). This caused a pickup in mortgage refinance activity. (Sat, 07 Mar 2009 11:41:18 GMT)

Markey breaks with party on mortgage bill
Rep. Betsy Markey broke with the Democratic leadership in opposing a bill that would give bankruptcy judges the ability to lower mortgage payments for troubled homeowners. (Sat, 07 Mar 2009 12:20:31 GMT)

A Waiting Game for Refinancing
Mortgage professionals are advising clients on the fence about refinancing not to wait. (Sat, 07 Mar 2009 15:46:57 GMT)

Low response to home loan scheme
Govt banks have cleared only 28,000 proposals so far. Two months after lower interest rates were announced for home loans up to Rs 20 lakh, public sector banks (PSBs) have cleared only 28,000 proposals and disbursed Rs 1,550 crore under this special scheme. (Sat, 07 Mar 2009 18:32:10 GMT)

Mortgage rates inch up
Long-term mortgage rates rose a fraction this week, but remain near historic lows. (FRE) (Sat, 07 Mar 2009 19:09:29 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Sat, 07 Mar 2009 19:48:09 GMT)

CommunitySouth hires two mortgage department officers
CommunitySouth Bank and Trust has hired Mario P. Insabella and Allen Robinson as mortgage loan officers (Sat, 07 Mar 2009 21:55:19 GMT)

Obama & team immune to mortgage pinch
As mortgage foreclosure rates hit record highs, one small group of homeowners remains relatively immune to the pressures confronting millions of other Americans: those at the highest levels of the Obama administration. (Sat, 07 Mar 2009 22:49:00 GMT)

No mortgage pinch for Obama and team
As mortgage foreclosure hit record highs, one small group remains relatively immune to the pressures. (Sat, 07 Mar 2009 23:19:55 GMT)

Careful steps with home loan save pain
Simple steps in handling a housing loan can ensure Australian home-owners keep their mortgage sound, a mortgage manager says. Australian Mortgage Options managing director Robert Projeski said borrowers could take elementary measures to ensure they did not become financially burdened. (Sat, 07 Mar 2009 23:40:19 GMT)

County program for no-interest loan home improvement
Residents in Kingsburg looking to renovate their homes or even receive a complete makeover on their dwellings could be eligible for a federal program which helps pay the cost with a zero-interest loan. (Sat, 07 Mar 2009 23:59:10 GMT)

Mortgage Fraud Case Poses Federal Quandary
A Brooklyn woman who nearly lost her home in a mortgage rescue scheme is still stuck with an inflated debt that the F.D.I.C. now wants her to pay. (Sun, 08 Mar 2009 02:35:49 GMT)

Mortgage Scam
It's a possible scam that's hitting homeowners when they're on the brink of foreclosure. "Modify your mortgage and save your home"...it sounds like a helping hand, but people are using it to put you even deeper in debt. (Sun, 08 Mar 2009 03:32:15 GMT)

New high for homeowners late on mortgage
A stunning 48 percent of the nation’s homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record. (Sun, 08 Mar 2009 06:11:00 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Sun, 08 Mar 2009 06:46:59 GMT)

Loan choke point sticks
Homeowners waiting for the day that long-term mortgage rates drop below 5 percent again to refinance face a rude awakening. (Sun, 08 Mar 2009 07:38:05 GMT)

Mortgage relief puts neighbors on different turf
n Mortgage relief puts neighbors on different sides of the street (Sun, 08 Mar 2009 08:19:48 GMT)

30-year fixed mortgage rate climbs slightly
Rates on 30-year-fixed mortgages rose last week amid reports showing a worse-than-expected plunge in the nation's gross domestic product and continuing elevated levels of jobless claims, Freddie Mac said Thursday. The average rate on a 30-year fixed mortgage... (Sun, 08 Mar 2009 08:46:09 GMT)

Refinancing a mortgage can save homeowners a bundle
While Washington leaders attempt to salvage what's left of the housing market, homeowners are left carrying burdensome mortgages that burn holes in their wallets. (Sun, 08 Mar 2009 10:20:48 GMT)

Mortgage relief plan won't help everybody
President Barack Obama's housing plan unveiled last week could bring financial relief to homeowners who are struggling to keep up with their mortgage payments and seeing their investments decline by the day. (Sun, 08 Mar 2009 10:40:02 GMT)

Lehigh Township couple tells of refinancing nightmare
Beneficial misplaced $90,000, they claim You've heard about the national mortgage crisis, and how greedy banks fouled up the economy by trying to wring all the cash they could from overextended homeowners. (Sun, 08 Mar 2009 10:46:38 GMT)

White House's Mortgage-Rescue Plan Is Missing Pieces - Report
NEW YORK -(Dow Jones)- The Obama administration's $75 billion mortgage-rescue plan appears to have been rushed into action and is missing crucial elements that doom it to failure, housing industry insiders tell the New York Post. (Sun, 08 Mar 2009 10:48:09 GMT)

DON'T 'BANK' ON MORTGAGE HELP
Dear John: Over the past few months, my sister Michele has fallen on hard times because of the recession and fell three months behind on her mortgage. Through hard work and some assistance from her loving family members, she came up with the funds... (Sun, 08 Mar 2009 10:54:34 GMT)

How much mortgage can you afford?
Under its new mortgage-relief plan, the Obama administration is staking a claim that most homeowners facing foreclosure should be able to pay 31 percent of their gross income for a mortgage. (Sun, 08 Mar 2009 11:08:21 GMT)

Home loans spur hopes
AUSTRALIA'S largest home loan broker says Rudd'sfirst home buyer grant has sparked a building rebound that could prevent a recession. (Sun, 08 Mar 2009 11:16:56 GMT)

Mortgage Debt Forgiveness
If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income. (Sun, 08 Mar 2009 11:29:14 GMT)

Mortgage relief plan won't help everybody
President Barack Obama's housing plan unveiled last week could bring financial relief to homeowners who are struggling to keep up with their mortgage payments and seeing their investments decline by the day. (Sun, 08 Mar 2009 12:35:15 GMT)

Amid crisis, a home loan frenzy
THE nation's largest lender has been forced to hire more staff, as demand for the Federal Government's first home buyer grant has seen processing times for loans blow out.  (Sun, 08 Mar 2009 13:01:00 GMT)

Amid the credit crisis, a home loan frenzy
THE nation's largest lender has been forced to hire more staff, as demand for the first home buyer grant the demand for loans surge. (Sun, 08 Mar 2009 13:01:00 GMT)

Amid the credit crisis, a home loan frenzy
THE nation's largest lender is on a hiring spree after being swamped with loan customers. (Sun, 08 Mar 2009 13:01:00 GMT)

NH explores mortgage mediation
Leaders from New Hampshire's judicial system, banking industry, housing agencies and state government have been exploring the idea of creating a mortgage mediation program to help struggling homeowners keep their homes. (Sun, 08 Mar 2009 14:35:52 GMT)

State Explores Mortgage Mediation
New Hampshire officials consider creating a mortgage mediation program to help struggling homeowners keep their homes. (Sun, 08 Mar 2009 14:38:58 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Sun, 08 Mar 2009 16:17:06 GMT)

Freddie Mac: Mortgage rates inch up
Long-term mortgage rates rose a fraction this week, but remain near historic lows. (FRE) (Sun, 08 Mar 2009 17:52:44 GMT)

Beckham, Italian club AC Milan to pay Galaxy for loan extension
LOS ANGELES - David Beckham is spending his own money to remain on loan with AC Milan before he returns to the Los Angeles Galaxy in July. (Sun, 08 Mar 2009 20:01:00 GMT)

CBRE Capital Markets Secures $35M Loan for New Jersey Office Property
CB Richard Ellis Debt & Equity Finance group arranged a $35 million first mortgage refinance on behalf of M. Alfieri Co. (Mon, 09 Mar 2009 01:09:02 GMT)

New mortgage program covers unemployment
Most people who lose their jobs start to fall behind on their mortgage payments. It's a big fear of home buyers, especially as unemployment rates start to climb. Now one company is adapting to the times, they're making an offer that's tough to beat. FOX 10's Sarah Acevedo explains. (Mon, 09 Mar 2009 01:10:58 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Mon, 09 Mar 2009 01:19:07 GMT)

Virgin's Branson says to return to mortgage finance
Virgin Group will return to the mortgage market and obtain a license to operate a high street bank, the group's billionaire founder Richard Branson told the Times newspaper. (Mon, 09 Mar 2009 03:51:29 GMT)

Branson to return to mortgage finance
Virgin Group will return to the mortgage market and obtain a licence to operate a high street bank, the group's billionaire founder Richard Branson told the Times newspaper. (Mon, 09 Mar 2009 03:53:00 GMT)

Federal Home Loan Bank of Seattle back in compliance
The Federal Home Loan Bank of Seattle has pulled a key capital level up to regulatory standards after facing a deficiency at the end of 2008. (Mon, 09 Mar 2009 04:13:51 GMT)

Bill puts regulatory cop on mortgage-loan-originator beat
The mortgage meltdown has triggered a nationwide regulatory overhaul that has New Mexico scrambling to bring its laws in line with new federal mandates. (Mon, 09 Mar 2009 04:15:51 GMT)

East Coast snow storm postpones US House mortgage vote
A blanket of snow across much of the Washington area prompted the Democratic-led House to push back its schedule, including a possible vote Tuesday on a home mortgage bill. (Mon, 09 Mar 2009 05:48:18 GMT)

CBRE Capital Markets Secures $35M Loan for New Jersey Office Property
CB Richard Ellis Debt & Equity Finance group arranged a $35 million first mortgage refinance on behalf of M. Alfieri Co. Grubb & Ellis Healthcare REIT Inc. purchased Wisconsin medical office buildings portfolio, an aggregate of four medical office buildings located in the Greater Milwaukee area. (Mon, 09 Mar 2009 06:24:06 GMT)

Pros and cons of paying down a mortgage
Q: I’m considering making extra payments on my mortgage. I like the idea of not being in debt. What do you think of this idea? (Mon, 09 Mar 2009 07:35:58 GMT)

Mortgage-relief plan sets 31% of income as goal
Under its new mortgage-relief plan, the Obama administration is staking a claim that most homeowners facing foreclosure should be able to pay 31 percent of their gross income for a mortgage. (Mon, 09 Mar 2009 09:10:08 GMT)

Mortgage Debt Forgiveness
If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income. (Mon, 09 Mar 2009 09:43:45 GMT)

Do you have enough equity to refinance?
Before you shell out hundreds to find out if you qualify to refinance, it pays to do your homework. (Mon, 09 Mar 2009 10:00:00 GMT)

Virgin's Branson says to return to mortgage finance
Virgin Group will return to the mortgage market and obtain a license to operate a high street bank, the group's billionaire founder Richard Branson told a newspaper. (Mon, 09 Mar 2009 10:34:43 GMT)

City tries to keep head above water More than a quarter of mortgages in negative value
President Obama's plan last week to help homeowners desperate to refinance their mortgage payments and avoid foreclosure couldn't have come at a better time for Ocala.The value of Ocala's single-family homes dropped nearly 16 percent by the end of 2008, according to a recent report by Zillow.com, a real estate Web site that analyzes home... (Mon, 09 Mar 2009 10:41:53 GMT)

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