Mortgage News Apr 2009

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Home Prices Gain 0.7% in February From January (Update1)
April 22 (Bloomberg) -- U.S. home prices rose 0.7 percent in February from January, the first consecutive monthly gain in two years, a sign that low interest rates may be moderating declines in real estate values. (Wed, 22 Apr 2009 18:51:44 GMT)

Credit union group rejects Hill mortgage plan
Negotiations between the banking industry and Senate Democrats on a mortgage relief plan hit a snag Wednesday after a trade association representing credit unions said it could not endorse the proposal. (Wed, 22 Apr 2009 19:25:48 GMT)

U.S. Stocks Advance on Improvement in Home Prices, GE Outlook
April 22 (Bloomberg) -- U.S. stocks advanced for a second day as a gauge of home prices unexpectedly improved and General Electric Co. led a rally in industrial companies after saying its finance unit will be profitable this year. (Wed, 22 Apr 2009 19:51:42 GMT)

Refinancing pushes mortgage applications higher
The demand to refinance pushed mortgage applications higher last week, with the volume of applications for mortgages up 5.3 percent, according to the Mortgage Bankers Association survey for the week ended April 17. (Wed, 22 Apr 2009 20:05:04 GMT)

Refinancing pushes mortgage applications higher
The demand to refinance pushed mortgage applications higher last week, with the volume of applications for mortgages up 5.3 percent, according to the Mortgage Bankers Association survey for the week ended April 17. (Wed, 22 Apr 2009 20:12:11 GMT)

US Treasury Pledges Up To $685 Million To 2 Cos Under Loan Program
WASHINGTON -(Dow Jones)- The U.S. Treasury Department has added two new participants to its mortgage modification incentive program. Treasury on Wednesday said it added Home Loan Services Inc. and Wilshire Credit Corp. (Wed, 22 Apr 2009 20:56:13 GMT)

House panel to target 'predatory' mortgage lending
WASHINGTON — Once again, Congress will take up legislation to bar mortgage companies from steering homebuyers into houses they can't afford. (Wed, 22 Apr 2009 21:01:00 GMT)

Is now time for you to refinance your mortgage?
York Region (Wed, 22 Apr 2009 21:27:36 GMT)

Governor Beshear Announces Help For First-Time Home Buyers
FRANKFORT, Ky. (April 22, 2009)– Gov. Steve Beshear announced today a special initiative by Kentucky Housing Corporation (KHC) to offer up to $4,500 for down payment and closing costs for first-time home buyers who obtain a KHC home loan. The program will begin on May 1, 2009 and continue through Nov. 30, 2009. (Wed, 22 Apr 2009 22:10:37 GMT)

Financier at centre of the US mortgage crisis found hanged
One of the top executives at Freddie Mac, the mortgage giant seized by the US government, was found hanged in his suburban mansion yesterday, after months of escalating pressure on the company. The apparent suicide of David Kellermann, a 41-year-old family man, shocked people from the worlds of Wall Street and Washington, which have been locked together in a fractious embrace since the financial ... (Wed, 22 Apr 2009 23:23:37 GMT)

Talks on mortgage relief plan hit a snag
Negotiations between the banking industry and Senate Democrats on a mortgage relief plan hit a snag Wednesday after a trade association representing credit unions said it could not endorse the proposal. (Thu, 23 Apr 2009 01:16:30 GMT)

Talks on mortgage relief plan hit a snag
WASHINGTON -- Negotiations between the banking industry and Senate Democrats on a mortgage relief plan hit a snag Wednesday after a trade association representing credit unions said it could not endorse the proposal. (Thu, 23 Apr 2009 01:16:30 GMT)

Former Bremer employee charged in mortgage case
A former employee of Bremer Bank was charged Wednesday in a federal indictment with 15 counts of fraud, conspiracy and false document charges arising out of the investigation of a massive mortgage fraud run by Parish Marketing and Development in New Prague, New Market and Lonsdale. (Thu, 23 Apr 2009 01:54:46 GMT)

Mortgage defaults hit record in state, Bay Area
In an ominous sign that foreclosures may soon surge, the number of mortgage default notices in California and the Bay Area rose to record levels in the first quarter, according to a report from a real estate information service. Such notices typically precede... (Thu, 23 Apr 2009 03:08:19 GMT)

Report: Reckless mortgage lending in late 2006 fueled California default wave
The MDA DataQuick report provides grist for those who say the industry needs greater regulation to avoid repeats of the subprime-mortgage-lending debacle. (Thu, 23 Apr 2009 03:23:49 GMT)

Bangkok Post : SHOULD YOU OR SHOULDN'T YOU REFINANCE ?
If you are a good client who pays your mortgage on time every month, you might be familiar with brochures from different banks offering competitive interest rates for refinancing. And if you are considering their offers, you have to be aware of several factors including types of mortgage refinance programmes and the hidden costs behind these promotional campaigns. (Thu, 23 Apr 2009 04:16:20 GMT)

Mortgage defaults rise but homeowners stay put
More Californians are missing their mortgage payments -- some deliberately -- but fewer are having their homes repossessed. More Californians are failing to make their mortgage payments than at any time in the last 20 years, but fewer of them are losing their homes, according to new figures. (Thu, 23 Apr 2009 07:21:15 GMT)

Credit union group won't endorse mortgage relief plan
National Association of Federal Credit Unions fears flood of bankruptcy filings would drive up mortgage rates WASHINGTON — Negotiations between the banking industry and Senate Democrats on a mortgage relief plan hit a snag Wednesday after a trade association for credit unions said it could not endorse the proposal. (Thu, 23 Apr 2009 07:25:49 GMT)

Kentucky Housing Corp. offering home loan program
FRANKFORT, Ky. (AP) - Kentucky first-time home buyers now have a new incentive to make the purchase. Gov. Steve Beshear the Kentucky Housing Corp. is offering up to $4,500 for a down payment and closing costs for buyers who obtain a KHC home loan. The program starts next month. (Thu, 23 Apr 2009 08:27:35 GMT)

Mortgage supply has 'limited' rise, finds Bank of England survey
The Bank of England's first trend in lending survey confirms that lenders remain cautious over mortgages, but predicts increases in the month ahead The majority of Britain's major lenders have reported only a "limited" improvement in mortgage supply since the beginning of the year, a Bank of England report said today. In its first trends in lending survey, the Bank said that mortgage acceptance ... (Thu, 23 Apr 2009 08:45:10 GMT)

Jobs losses major threat to mortgage market
Canadian mortgage holders are facing significant challenges, with an uncertain job market increasing the risk of mortgage defaults in the months ahead, a new report says. (Thu, 23 Apr 2009 08:54:03 GMT)

Northern Rock Faces Substantial Loss as Mortgage Arrears Triple
April 23 (Bloomberg) -- Northern Rock Plc, the U.K. bank nationalized last year, will remain “substantially loss making” after mortgage arrears tripled in less than a year. (Thu, 23 Apr 2009 09:19:21 GMT)

Northern Rock enjoys mortgage surge
Mortgage applications soared by 70% at Northern Rock between February and March, but the nationalised lender warned that arrears grew in the first three months of 2009. (Thu, 23 Apr 2009 09:21:00 GMT)

Mortgage rates and refis up
The 30-year fixed-rate mortgage rose to 5.23 percent in Bankrate's weekly survey. (Thu, 23 Apr 2009 10:00:00 GMT)

N Rock mortgage applications up 70%
Mortgage applications at Northern Rock soared by around 70 per cent between February and March under plans to boost lending. (Thu, 23 Apr 2009 10:27:04 GMT)

(AFX UK Focus) 2009-04-23 12:23 UPDATE 2-Fifth Third posts loss on rising loan losses
NEW YORK, April 23 (Reuters) - Fifth Third Bancorp posted a first-quarter loss on rising loan losses. The large Midwest regional bank posted a loss of $26 million, or 4 cents a share, compared with a profit of $286 million, or 54 cents a share, a year earlier. Rising losses on commercial loans hurt the bank, as well as losses on residential mortgages and home equity. The bank benefited, however, ... (Thu, 23 Apr 2009 11:47:42 GMT)

Ky. Housing Corp. offering home loan program
Kentucky first-time home buyers now have a new incentive to make the purchase. (Thu, 23 Apr 2009 11:53:52 GMT)

Home Equity Loan Rate Search
This is the daily overnight average for a $30K HELOC. Be upfront about your debt. The military is interested in reliability, not lending you money. Is your bank safe? (Thu, 23 Apr 2009 11:57:56 GMT)

Incentive For First Time Home Buyers In Kentucky
FRANKFORT, Ky. (AP) - Kentucky first-time home buyers now have a new incentive to make the purchase. Gov. Steve Beshear says the Kentucky Housing Corp. is offering up to $4,500 for a down payment and closing costs for buyers who obtain a KHC home loan. The program starts next month. (Thu, 23 Apr 2009 12:16:31 GMT)

PNC First-Quarter Profit Rises on Refinancing (Update1)
April 23 (Bloomberg) -- PNC Financial Services Group Inc. , the fifth-largest U.S. bank by deposits, said first-quarter profit rose 38 percent on higher mortgage income as customers refinanced their homes. (Thu, 23 Apr 2009 12:33:49 GMT)

Kentucky Housing Corp. Offering Home Loan Program
Kentucky first-time home buyers now have a new incentive to make the purchase. (Thu, 23 Apr 2009 13:36:55 GMT)

U.S. mortgage rates nudge closer to record low
U.S. mortgage rates fell in the latest week, nudging closer to a recent record low, helped by government efforts to bring rates down to levels that will spur demand and help the hard-hit housing market begin to recover. (Thu, 23 Apr 2009 15:01:19 GMT)

Mortgage interest rates drop slightly
WASHINGTON, April 23 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell this week, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 23 Apr 2009 15:47:50 GMT)

Mortgage Rates Nudge Closer to Record Low
Mortgage Rates Nudge Closer to Record Low (Thu, 23 Apr 2009 15:50:15 GMT)

Mortgage rates inch up
Home mortgage rates were slightly higher this week, jumping from near record-lows last week, according to a report released Thursday. (Thu, 23 Apr 2009 16:05:17 GMT)

Fixed Mortgage Rates in U.S. Drop, Freddie Mac Says (Update2)
April 23 (Bloomberg) -- Fixed mortgage rates in the U.S. fell for a second consecutive week as the Federal Reserve plan to buy mortgage-backed securities helped drive rates lower. (Thu, 23 Apr 2009 16:38:32 GMT)

Mortgage-Rate Patterns Sway Amid Changing Landscape
The mortgage shopping basics have been turned on their head. (Thu, 23 Apr 2009 17:50:00 GMT)

Mortgage defaults rise but homeowners stay put
More Californians are missing their mortgage payments -- some deliberately -- but fewer are having their homes repossessed. More Californians are failing to make their mortgage payments than at any time in the last 20 years, but fewer of them are losing their homes, according to new figures. (Thu, 23 Apr 2009 18:01:44 GMT)

Hoboken 83-year-old scammed out of home; granddaughter's husband charged
HOBOKEN -- A Rutherford man has been charged taking out a $400,000 loan against the home of his wife's grandmother -- and the 83-year-old only learned of the scam when foreclosure notices began arriving, officials said. (Thu, 23 Apr 2009 18:47:39 GMT)

PNC Advances After First-Quarter Profit Jumps on Refinancing
April 23 (Bloomberg) -- PNC Financial Services Group Inc. , the fifth-largest U.S. bank by deposits, rose in New York trading after posting a 38 percent jump in first-quarter profit on higher mortgage income as customers refinanced their homes. (Thu, 23 Apr 2009 18:49:07 GMT)

Midwest home sales post 7 pct annual decline
Home sales in the Midwest declined again in March as lingering economic uncertainty kept early spring home shoppers from becoming buyers, but the region still fared better than the rest of the country, according to two reports released Thursday. (Thu, 23 Apr 2009 19:28:11 GMT)

Lawmakers to Combat ‘Dark Corners’ of Mortgage Market (Update2)
April 23 (Bloomberg) -- Congress should provide more protections for mortgage borrowers to prevent lenders, brokers and securitizers from exploiting “the dark corners of our market,” U.S. Representative Paul Kanjorski said. (Thu, 23 Apr 2009 19:39:37 GMT)

Commercial-Mortgage Crunch May Reach $1 Trillion, Deutsche Says
April 23 (Bloomberg) -- Loan extensions will likely be insufficient to prevent a wave of commercial real-estate defaults as borrowers struggle to refinance debt amid tighter lending standards and plummeting property values, according to Deutsche Bank AG analysts. (Thu, 23 Apr 2009 20:03:24 GMT)

Midwest home sales post 7 pct annual decline
Home sales in the Midwest declined again in March as lingering economic uncertainty kept early spring home shoppers from becoming buyers, but the region still fared better than the rest of the country, according to two reports released Thursday. Existing home... Presented By: You Need the Speed of Norton 2009 Introducing the revolutionary Norton Internet Security 2009. With a one-click, ... (Thu, 23 Apr 2009 20:08:18 GMT)

Mortgage refinancing helps PNC profit
PNC Financial Services Group Inc., the fifth-largest U.S. bank by deposits, rose in New York trading after posting a 38 percent jump in first-quarter profit on higher mortgage income as customers refinanced their homes. (Thu, 23 Apr 2009 20:36:02 GMT)

UMB mortgage business up in St. Louis
UMB Financial Corp. said Thursday its total mortgage loan closings increased nearly 40 percent in the first quarter, including in St. Louis, as homeowners took advantage of lower rates to refinance. (UMBF) (Thu, 23 Apr 2009 21:06:30 GMT)

Rampant Refinancing
With interest rates near all time lows, many people are refinancing their homes. In general, if you can reduce your interest rate by more than a percent, and if you plan to remain in the same house for more than three years, mortgage brokers say you can save big in the long run. (Thu, 23 Apr 2009 21:21:59 GMT)

Commercial-Mortgage Crunch May Reach $1 Trillion (Update1)
April 23 (Bloomberg) -- Loan extensions will likely be insufficient to prevent a wave of commercial real-estate defaults as borrowers struggle to refinance debt amid tighter lending standards and plummeting property values, according to Deutsche Bank AG analysts. (Thu, 23 Apr 2009 21:56:55 GMT)

First-Time Home Buyers Will Soon Have Assistance
First-time home buyers who obtain a Kentucky Housing Corporation home loan may be able to receive up to $4,500 for down payment and closing costs, Gov. Steve Beshear announced Wednesday. (Thu, 23 Apr 2009 22:01:31 GMT)

Realty Q&A: What to ask when considering a reverse mortgage
Where can I get more detailed information about reverse mortgages for seniors? We have a house in a "plus 55" community in California for which we paid $315,000 four years ago. We are told now that it would sell for about 20% less than what we paid. Would a reverse mortgage work for us? (Thu, 23 Apr 2009 23:52:33 GMT)

Dallas area home sales, median prices tumble in first quarter
Dallas area home sales, median prices tumble in first quarter (Fri, 24 Apr 2009 03:16:59 GMT)

Koster Investigating Mortgage Scams
Mortgage companies are using the housing crisis as a way to prey on people who may be down on their luck. They're sending tens of thousands of letters to people in Missouri. (Fri, 24 Apr 2009 03:51:43 GMT)

House Revives, Toughens '07 Mortgage Bill
A House bill that targets abusive mortgage lending has been resurrected in tougher form after stalling in the previous Congress, and lawmakers began working on it yesterday at an all-day House Financial Services Committee hearing. (Fri, 24 Apr 2009 04:00:00 GMT)

Biz Buzz: Mortgage defaults on the rise in county
More San Luis Obispo County homeowners are struggling to keep up with their mortgage payments. A to (Fri, 24 Apr 2009 04:08:14 GMT)

Bangkok Post : SHOULD YOU OR SHOULDN'T YOU REFINANCE ?
If you are a good client who pays your mortgage on time every month, you might be familiar with brochures from different banks offering competitive interest rates for refinancing. And if you are considering their offers, you have to be aware of several factors including types of mortgage refinance programmes and the hidden costs behind these promotional campaigns. (Fri, 24 Apr 2009 04:31:10 GMT)

Mortgage woes to hit 1.2m
MORE than 1.2 million households are expected to be suffering mortgage stress by December, according to the latest survey of financial difficulty. (Fri, 24 Apr 2009 05:05:00 GMT)

Improve credit score before refinance
Now is the time to improve your credit score so that you can successfully refinance later. (Fri, 24 Apr 2009 10:00:00 GMT)

Improve credit score before refinance
Dear Dr. Don, What type of mortgage refinancing is available for people like me? I own a home which has a first and second mortgage against it. (Fri, 24 Apr 2009 10:42:26 GMT)

home equity
The choice between a home equity loan or a line of credit is seldom black or white. But here are a couple of generalizations: (Fri, 24 Apr 2009 10:43:06 GMT)

Staten Island: Mortgage Scams Leave Residents Looking For Answers
Residents in one Port Richmond neighborhood believe they were the victims of mortgage scams, which they say were all too prevalent in the years leading up to the recession. NY1's Amanda Farinacci filed the following report. (Fri, 24 Apr 2009 11:00:17 GMT)

Mortgage rates dip, stay above record lows
WASHINGTON(AP)-- Average rates on 30-year fixed mortgages dipped to 4.8 percent from 4.82 percent last week, Freddie Mac said. Last year at this time, the average rate on a 30-year mortgage was 6.03 percent, and it has been below 5 percent for six straight weeks. (Fri, 24 Apr 2009 11:08:45 GMT)

First Niagara executive VP wary of proposed mortgage reform
First Niagara Financial Group executive G. Gary Berner told a Congressional committee on Thursday that proposed legislation to correct mortgage abuses should be modified so it doesn't inadvertently hamstring traditional loans to credit- worthy borrowers. (Fri, 24 Apr 2009 11:10:06 GMT)

Attorney general vows mortgage fraud crackdown
Attorney General Chris Koster stopped in Springfield on Thursday afternoon, alerting Missourians to mortgage scams while promising swift action against any offenders. (Fri, 24 Apr 2009 11:33:52 GMT)

NYT Is Excellent on Mortgage-Biz Linchpin
Here’s a good angle on the mortgage mess. The New York Times reports on an entity I haven’t read much about: A firm called MERS that holds 60 million mortgages in the U.S. and is causing all sorts of problems in the foreclosure crisis. (Fri, 24 Apr 2009 13:17:36 GMT)

MDwerks Signs $3.2 Million Loan Agreement
DEERFIELD BEACH -- MDwerks, Inc. announced today that it has received net proceeds of $3,108,550 pursuant to a loan agreement with Vicis Capital Master Fund ("Vicis"). (Fri, 24 Apr 2009 15:35:07 GMT)

Refinancing boom returns
Borrowers probably need higher credit scores and may have to come up with a larger down payment, but mortgage loans are being written every day, local lenders say. (Fri, 24 Apr 2009 16:15:07 GMT)

Mortgage market 'dysfunctional'
The UK mortgage market remains "highly dysfunctional", says the chairman of the lenders' trade body. (Fri, 24 Apr 2009 16:50:30 GMT)

Mortgage Rates Slip to 4.80%
Freddie Mac's most recent mortgage figures are out. (Fri, 24 Apr 2009 18:30:05 GMT)

Tonight at 11 | Home loans with no money down
LENOIR, N.C. -- In this economy, everyone is looking for a good deal. And one local mother found it in an unlikely place. It ends up the United States Department of Agriculture backs a special kind of home loan that lets you buy with no money down. (Fri, 24 Apr 2009 18:34:05 GMT)

Countrywide name to vanish from U.S. housing mortgage market
Countrywide, a business name synonymous with housing mortgage loans for over four decades in the United States, will vanish from the landscape of corporate America from next week. The Bank of America, which bought Countrywide Financial in January 2008 for 4.1 billion dollars, is expected to begin on Monday re-branding the former major mortgage lender headquartered in a Los Angeles suburb as part ... (Fri, 24 Apr 2009 18:38:07 GMT)

SP Setia extends home loan package (Business Times
DEVELOPER SP Setia Bhd has extended its Setia 5/95 Home Loan package for another three months until July 19 2009 due to overwhelming response. The company said so far, total sales of existing projects have reached RM500 million, a result which exceeded its expectations. (Fri, 24 Apr 2009 18:41:19 GMT)

Mortgage Protection for Texans
AUSTIN, Texas (AP) - Texans who fall behind on their mortgage payments would get more time to try to save their homes under legislation approved by the Texas Senate. (Fri, 24 Apr 2009 19:51:56 GMT)

Senate to sink mortgage relief plan
The centerpiece of President Barack Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades is headed for defeat next week in the Senate. Allowing people to seek mortgage relief in bankruptcy court is opposed... (Fri, 24 Apr 2009 20:38:39 GMT)

Senate to sink mortgage relief plan
The centerpiece of President Barack Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades is headed for defeat next week in the Senate. Allowing people to seek mortgage relief in bankruptcy court is opposed... (Fri, 24 Apr 2009 21:39:09 GMT)

Qualify for a Lower Mortgage Rate
We have a brand new home mortgage plan to tell you about that is designed to help "responsible" homeowners who have played by all the rules and still got burned.... (Fri, 24 Apr 2009 22:03:32 GMT)

Analysts see more mortgage companies exiting business - Mexico
Mexico's non-bank mortgage lending sector is likely to witness the exit of some of its players as a result of the crippling conditions in the market, analysts told BNamericas. (Fri, 24 Apr 2009 22:04:54 GMT)

Building demolished in downtown Renton to make way for First Savings Bank Northwest loan center
The noise of progress filled downtown Renton this week. A 1 1/2-story building that has housed all or part of First Savings Bank Northwest on Wells Avenue over the last three decades or so was demolished to make way for the bank's new four-story loan center. (Fri, 24 Apr 2009 23:13:34 GMT)

Profits spike at Fed. Home Loan Bank
The Federal Home Loan Bank of Cincinnati Friday reported first quarter profit soared 69 percent to $83 million as interest rate costs declined. Net interest income rose 42 percent to $113 million from the same January-March period last year. Total assets declined 7 percent to $91.7 billion. (Fri, 24 Apr 2009 23:20:05 GMT)

Man caught stripping home has criminal record
KUSA - He tried to keep his name a secret from 9Wants to Know, but a viewer identified the man in our story caught stripping fixtures from a home ahead of foreclosure. (Fri, 24 Apr 2009 23:25:23 GMT)

5 indicted on mortgage fraud charges
Five Honolulu residents have been indicted for committing mortgage fraud. (Sat, 25 Apr 2009 00:26:28 GMT)

Chilean protesters balk at mortgage debts
SANTIAGO, Chile, April 24 (UPI) -- A group of Chilean homeowners climbed a construction crane in protest over their mortgage rates and demanded their debts be forgiven. (Sat, 25 Apr 2009 00:57:59 GMT)

Fontana resident is convicted in mortgage scheme
The fourth and last defendant of a mortgage scheme that defrauded banks of nearly $2 million in loan proceeds was convicted on April 20 on federal charges for acting as a “straw borrower,” federal authorities said this week. (Sat, 25 Apr 2009 02:19:52 GMT)

The Mortgage Professor: Guide to Government's Mortgage Refinancing Program
The government's mortgage assistance program, called Making Home Affordable, has two parts, one for mortgage refinancing, the other for mortgage modification. Here's a look at the refinancing portion, which applies only to mortgages owned or guaranteed by Fannie Mae or Freddie Mac. (Sat, 25 Apr 2009 04:00:00 GMT)

New Condo Loan Rules Put More Scrutiny on Neighbors
Benjamin Chiang nearly lost the chance to refinance his condominium when his lender discovered that many other people in the building were behind on their condo dues. (Sat, 25 Apr 2009 04:00:00 GMT)

Owner Files $6.2M Loan On Millington Hotel
Page Properties LLC and Admiralty Suites and Inn LLC have filed a $6.2 million loan for the 98-room Holiday Inn Express and Suites at 5090 Copper Cree.... (Sat, 25 Apr 2009 05:07:27 GMT)

Mortgage rates fall
WASHINGTON (AP) Rates on 30-year mortgages dipped this week after rising a week earlier, and remain just above record lows. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages fell to 4.82 percent this week, down from an average of 4.87 percent last week. Rates have been below 5 percent for five consecutive weeks. The all-time low of 4.78 percent ... (Sat, 25 Apr 2009 06:16:21 GMT)

Senate likely to reject mortgage plan
WASHINGTON - The centerpiece of President Barack Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades is headed for defeat next week in the Senate. Allowing people to seek mortgage relief in bankru ... (Sat, 25 Apr 2009 07:50:05 GMT)

Mortgage relief faces Senate defeat
The centerpiece of President Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades appears headed for defeat next week in the Senate. A handful of Democrats are siding with Republicans in opposition to allowing people to seek mortgage relief in bankruptcy court. Critics say the change would unleash a torrent of loan defaults, ultimately ... (Sat, 25 Apr 2009 08:47:52 GMT)

Home of the Week: Robin and Guy Pilli
Welcome to the Centreville home of Robin and Guy Pilli, a perfect amalgamation of his love for the outdoors, her love for animals and gardening, as well as the love they share for the Eastern Shore. (Sat, 25 Apr 2009 09:10:17 GMT)

Boom times for mortgage protection
A previously obscure charitable group based in Washington, D.C. — the Rainy Day Foundation — suddenly is doing a booming business in what's called the mortgage-payment protection niche. (Sat, 25 Apr 2009 09:12:04 GMT)

Refinance rules causing confusion
Mortgage brokers and small lenders say they've been left out of a big part of the Obama administration's plan to help borrowers refinance their home loans and take advantage of near-record-low interest rates. (Sat, 25 Apr 2009 09:12:24 GMT)

Mortgage Foreclosures
Mortgage foreclosures filed with the civil division of the Circuit Court for January 2009. Names in bold are the subject of, or have an interest in, the foreclosure action. Lighter names filed the foreclosure action. (Sat, 25 Apr 2009 09:32:15 GMT)

MORTGAGE BILL LOOKS DOOMED
The centerpiece of President Barack Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades is headed for defeat next week in the Senate. Allowing people to seek mortgage relief in bankruptcy... (Sat, 25 Apr 2009 10:54:46 GMT)

Two landlords claim to own Visalia woman's rental home
For the last four years, Carmen Davison has been paying the rent for her north Visalia home to someone who may not be her actual landlord. (Sat, 25 Apr 2009 11:07:33 GMT)

HOPEWELL TOWNSHIP: FHA mortgage deal for hospital makes history
The Federal Housing Administration recently announced that it has finalized a deal to insure a $756 million mortgage for Capital Health Systems. (Sat, 25 Apr 2009 12:55:43 GMT)

To Refinance Or Not To Refinance....
A lot of people wonder whether to refinance their home these days.  Others wonder if they have missed their best opportunity. (Sat, 25 Apr 2009 13:49:23 GMT)

Home of the Week: Robin and Guy Pilli
Welcome to the Centreville home of Robin and Guy Pilli, a perfect amalgamation of his love for the outdoors, her love for animals and gardening, as well as the love they share for the Eastern Shore. (Sat, 25 Apr 2009 19:09:06 GMT)

Repco Home records 74 % growth in profit
CHENNAI: Repco Home Finance (subsidiary of Repco Bank — a Government of India Enterprise) has achieved 57 per cent increase in home loan portfolio and around 74 per cent growth in profitability during the year 2008-09. The net profit ... (Sat, 25 Apr 2009 19:11:32 GMT)

A Reality Check on Mortgage Modification
A mortgage modification bill in Congress would create problems like conflicts of interests and the elimination of certain liabilities. (Sat, 25 Apr 2009 21:22:01 GMT)

Mortgage relief plan appears set to fail in Senate
WASHINGTON - The centerpiece of President Obama's plan to keep thousands of people from losing their homes amid the worst economic crisis in decades is headed for defeat next week in the Senate. Allowing people to seek mortgage relief in bankruptcy court (Sat, 25 Apr 2009 22:03:21 GMT)

Flood victim in search of a home, not just a house
When Nancy Ewing turns 50 years old in June she’s hoping the trip down the other side of the mountain is a smoother ride than the last five years of her journey to the top. Ewing can say that after losing her mother in 2005, her job in 2007 and her home in June 2008, when flood waters exceeded record levels along the Kickapoo River in Readstown. (Sat, 25 Apr 2009 22:06:21 GMT)

Patience, tax perks pay off for first-time Inland home buyers
Fortune finally is smiling on renters who, for years, could not afford to buy a house as they watched home prices escalate ever further beyond their reach. (Sun, 26 Apr 2009 00:16:58 GMT)

Rates are low, but hurdles are high for mortgage refinancing
Peggy and Mike Murphy of San Rafael have refinanced their three-bedroom home four times, in good and bad market conditions, since buying it in 1995. (Sun, 26 Apr 2009 04:00:07 GMT)

Home loan financing back to the days of common sense
First-time homebuyer Karey Gauthier of Novato was bowled over by the demands of a lengthy home loan process, but felt more secure in the end. (Sun, 26 Apr 2009 04:00:17 GMT)

Mortgage fraud in NY Metropolitan region? Here's a hotline
If you believe that you have been a mortgage fraud victim, or you have any information you would like to report concerning a mortgage fraud scheme in the greater New York City metropolitan area, please call the New York FBIs Mortgage Fraud Hotline (212)... (Sun, 26 Apr 2009 04:37:45 GMT)

Job loss mortgage protection eases the stress of buying a new home
courtesy of Nancy May, LifeStyle Builders & Developers, Inc. LifeStyle Builders and Developers, Inc., a Richmond based homebuilder, is proud to announce their new job loss mortgage protection program, Mortgage Guardian. (Sun, 26 Apr 2009 04:53:31 GMT)

Ontario OKs loan to aid homeless
ONTARIO - The City Council has approved a loan to acquire and rehabilitate a 15-unit property on Francis Street for Mercy House to provide housing for homeless people. In the agreement, the council agreed to lease the 15 two-bedroom units to Mercy House. (Sun, 26 Apr 2009 06:09:58 GMT)

Bloomington man, 43, indicted in mortgage fraud case
A 43-year-old Bloomington man has been indicted in U.S. District Court in connection with a scheme to defraud mortgage lenders around the country and to obtain money from those lenders through fraudulent pretenses. (Sun, 26 Apr 2009 06:24:04 GMT)

Beware of Loan Modification Scams
Melanie Beauchamp, owner and principal of Beauchamp Law Office P.C., has encountered several individuals that have spent hours trying to save their home without seeing any results. These so called "Software Programs", "How to Videos" and "Loan Specialist" may seem creditable but at the end of the day they are all just a scam. (Sun, 26 Apr 2009 07:01:00 GMT)

Mortgage rates slide to 4.8%
Rates on 30-year mortgages fell slightly from two weeks ago but remained just ahead of record lows posted this month, Freddie Mac said Thursday. (Sun, 26 Apr 2009 07:10:22 GMT)

Money for a house comes with more strings attached
The standards are higher for those looking to get a mortgage or to refinance. (Sun, 26 Apr 2009 07:16:50 GMT)

Shore Mortgage rewards 112 conscientious homeowners with $1,000 checks
Called into action by stories in newspapers and on TV about Shore Mortgage's $100,000 giveaway, hundreds of people sat down and explained why they were worthy in handwritten notes. (Sun, 26 Apr 2009 07:34:00 GMT)

Group advises against loan
A working group formed by the Solano County Board of Supervisors to analyze the financial standing of Mission Solano and its plans for a 154-bed homeless shelter in Fairfield has concluded that the county shouldn't loan the mission $750,000 to build the facility. (Sun, 26 Apr 2009 08:30:46 GMT)

County urged not to loan $750,000 to shelter
A group formed to analyze the financial standing of Mission Solano and its plans for a 154-bed homeless shelter has concluded that the county shouldn't loan the $750,000 to build the facility.The group's final report will be presented to the board of supervisors at 9 a. (Sun, 26 Apr 2009 09:06:44 GMT)

Senate passes Mortgage Foreclosure Deferment Act
AUSTIN - The Texas Senate passed SB 472, the Mortgage Foreclosure Deferment Act, by State Senator Craig Estes (R-Wichita Falls), to extend the time for homeowners facing foreclosure to resolve a mortgage default and provide more time to vacate a property after foreclosure. (Sun, 26 Apr 2009 09:42:46 GMT)

Nobody home
New-home construction in central Ohio has fallen to its lowest level in more than 25 years as home builders continue to suffer a hangover from the housing boom. (Sun, 26 Apr 2009 09:55:28 GMT)

HOPEWELL TOWNSHIP: FHA mortgage deal for hospital makes history
The Federal Housing Administration recently announced that it has finalized a deal to insure a $756 million mortgage for Capital Health Systems. (Sun, 26 Apr 2009 10:39:33 GMT)

Home loan relief for laidoff employees (Business Times
THE Association of Banks in Malaysia (ABM) said it supports its member banks’ agreement to defer the repayment of housing loans of retrenched workers for one year. (Sun, 26 Apr 2009 16:35:57 GMT)

Tomas to come home mid-May, but will go back to US again
MAYOR Tomas Osmeña is coming home next month, but is required to visit the M.D. Anderson Cancer Center every three months. (Sun, 26 Apr 2009 16:35:58 GMT)

Relief for mortgage holders
Struggling mortgage holders will get some relief today with the government making it easier for customers to negotiate the terms of their loans. (Sun, 26 Apr 2009 19:32:53 GMT)

Mortgage lifeline for battlers
KEVIN Rudd will help ease mortgage pain by allowing people with loans of up to $500,000 to legally request changes to their contract. (Sun, 26 Apr 2009 20:40:00 GMT)

Govt to lift 'hardship' mortgage limit
The federal government will lift the limit for "hardship" mortgage assistance in an effort to stop struggling homeowners from losing their properties. (Sun, 26 Apr 2009 20:43:01 GMT)

Govt to announce mortgage relief
Struggling mortgage holders will get some relief today with the government making it easier for customers to negotiate the terms of their loans. (Sun, 26 Apr 2009 20:52:29 GMT)

Mortgage help on the way
The Rudd Govermment will lift the limit for 'hardship' mortgage aid in a bid to save struggling homeowners from losing their homes. (Sun, 26 Apr 2009 21:01:23 GMT)

Will mortgage rates fall to 4%?
Grace and John Pitts got a 4 percent interest rate on a 30-year fixed mortgage when they bought their Cape Cod-style home in Quincy, Mass., in 1951. (Sun, 26 Apr 2009 21:09:12 GMT)

Govt throws lifeline to mortgage strugglers
The Federal Government says it is making changes to credit and mortgage contracts to make it easier for people to hold on to their homes when they are hit by hard times. (Sun, 26 Apr 2009 21:47:53 GMT)

Innovative loan program serves abused women
Julie Neace thought about leaving her husband several times. But when the stay-at-home mom did the (Sun, 26 Apr 2009 22:15:11 GMT)

Govt tackles mortgage terms
Struggling mortgage holders will get relief with the government making it easier for customers to negotiate the terms of loans. (Mon, 27 Apr 2009 01:50:51 GMT)

Cairns Lockie Mortgage Commentary 23 April 2009
This is our regular Friday fortnightly newsletter but due to staff holidays on Friday is being sent out today. (Mon, 27 Apr 2009 02:10:55 GMT)

Making Home Affordable program may help those on edge of foreclosure
For Brad and Susan Green, the chances of saving their Waxahachie home may depend on being approved for a loan modification under the government's new Making Home Affordable program. (Mon, 27 Apr 2009 03:23:15 GMT)

Making Home Affordable program may help those near foreclosure
MICHAEL AINSWORTH/DMN Brad and Susan Green of Waxahachie are waiting to see if they qualify for a loan modification.Many struggling homeowners are hanging their hopes on the government's new Making Home Affordable program. (Mon, 27 Apr 2009 03:53:46 GMT)

Bank of America rebrands mortgage operations
Bank of America Corp. has officially dropped the Countrywide Home Loans name as part of its integration of the mortgage lender, which was acquired last year. (Mon, 27 Apr 2009 04:06:33 GMT)

Business Scene: American Home & Living Solutions
HARKER HEIGHTS – Barbra Hartbarger had a career as a loan officer for a bank as her husband Kevin neared retirement from the Army but decided her family had to come first. (Mon, 27 Apr 2009 04:10:40 GMT)

BofA drops Countrywide name, rebrands mortgage operations as Bank of America Home Loans
NEW YORK - Bank of America Corp. has officially dropped the Countrywide Home Loans name as part of its integration of the mortgage lender, which was acquired last year. (Mon, 27 Apr 2009 04:11:21 GMT)

Mortgage loans boost banks, from Bank of America to Triad
A bright spot has emerged for financial institutions amid the darkness of the real estate market: Mortgage loans are up, big time. (Mon, 27 Apr 2009 04:30:07 GMT)

Mortgage modifications elusive
Cori Bradley and Cecil Baird are among many Valley homeowners who are finding it tough to qualify for mortgage modifications as they face declining home values, diminished income and the looming shadow of foreclosure. (Mon, 27 Apr 2009 04:33:31 GMT)

Bank of America rebrands mortgage operations
Bank of America Corp. has officially dropped the Countrywide Home Loans name as part of its integration of the mortgage lender, which was acquired last year. Charlotte, N.C.-based Bank of America on Monday renamed its mortgage and home equity lending... (Mon, 27 Apr 2009 04:38:18 GMT)

Susquehanna Bank gives Hale another extension on $4M loan default
Susquehanna Bank has given Baltimore developer Edwin F. Hale Sr. until July 1 to repay a $4 million loan, marking the third extension since the developer of the First Mariner Tower first defaulted on the loan in June 2008. (Mon, 27 Apr 2009 04:47:25 GMT)

Bank of America Targets Mortgage Image, Strips Countrywide Name
April 27 (Bloomberg) -- Bank of America Corp. , the second- largest U.S. home lender after buying the biggest provider of credit before property prices slumped, hopes to bolster its mortgage brand as it drops the Countrywide Financial Corp. name. (Mon, 27 Apr 2009 06:03:21 GMT)

Reach out to lender if home is at risk
Seattle Times special report: With the number of home foreclosures in the Puget Sound region skyrocketing during the past two years, officials from the Obama administration on down to local banks are advising distressed homeowners to work with lenders. (Mon, 27 Apr 2009 07:17:44 GMT)

Paying off mortgage early is a mixed bag
Q: I am 60 years old, married and have been retired several years. We don't have tons of money. What is the common theory on paying off one's mortgage early? My mortgage rate is 5.875 percent. I have about $100,000 remaining and no other real debt. (Mon, 27 Apr 2009 07:22:02 GMT)

UK mortgage lending 'falls back'
Mortgage lending by the UK's major banks fell for the first time in four months in March, striking a blow to talk of recovery. (Mon, 27 Apr 2009 09:03:08 GMT)

Number Of Mortgage Approvals Fell In March
All measures of mortgage lending were slightly weaker during the month than they had been in February, with the value of net lending also declining, the association said. (Mon, 27 Apr 2009 09:09:08 GMT)

Weigh costs before buying down loan
Dear Dr. Don, I have a $598,000, 6.15 percent, 30-year, interest-only, five-year adjustable-rate mortgage that will reset in 2011. I have excellent credit, but the housing slump has resulted in the value of my home decreasing to $550,000. (Mon, 27 Apr 2009 09:42:46 GMT)

Weigh costs before buying down loan
The costs associated with buying down a loan may put the brakes on a mortgage refinance. (Mon, 27 Apr 2009 10:00:00 GMT)

UK mortgage approvals fall in March
The value of mortgage loans approved by Britain's major banks dropped in March, falling below half of last year's figures, the British Bankers Association said Monday. (Mon, 27 Apr 2009 10:10:34 GMT)

UPDATE: BBA: UK Mortgage Lending, Approvals Weaken In March
(Adds details, quotes.) LONDON -(Dow Jones)- U.K. mortgage lending and approvals weakened again in March as the deepening recession weighed on hopes there could be a recovery in the beleaguered housing market any time soon, data released by the British Bankers' Association showed Monday. (Mon, 27 Apr 2009 10:11:58 GMT)

Number of home loan approvals down
The number of mortgages approved for people buying a home fell by 7% during March. All measures of mortgage lending were slightly weaker during the month than they had been in February, with the value of net lending also declining, the British Bankers' Association said. (Mon, 27 Apr 2009 10:12:05 GMT)

Drop in mortgage lending dents recovery hopes
Mortgage approvals for house purchases fell 7% in March from the month before and by 25% year on year, according to the British Bankers' Association (BBA). (Mon, 27 Apr 2009 10:19:00 GMT)

Decline in home loan approvals
The number of mortgages approved for people buying a home fell by 7% during March, figures have shown. All measures of mortgage lending were slightly weaker during the month than they had been in February, with the value of net lending also declining, the British Bankers' Association said. (Mon, 27 Apr 2009 10:26:54 GMT)

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