The Mortgage Bankers Association announced this week that the number of delinquent homeowners rose a little in the first quarter of 2011, but over the course of a year, the number has dropped substantially. According to the MBA delinquency survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted [...]
Early last week, the LexisNexis® Mortgage Asset Research Institute published its 13th Periodic Mortgage Fraud Case Report, which evaluates the current conditions of verified residential mortgage misrepresentation in the country committed by industry professionals, based on data submitted by the Institute's subscribers. While reports of fraud decreased 41% from 2009 to 2010, according to statistics [...]
I started out today's show talking about the decisions you make every day about how you spend your money will dictate how wealthy you are later in life. I firmly believe that with a very little bit of effort, everyone can find an extra $1,000 to $1,500 in their budget that is essentially wasted money. [...]
It sounds like another round of bad news for the mortgage industry. The government has made it clear that no one is constitutionally entitled to a government-backed mortgage of up to $729,750, no matter where you live. Even in places where the cost of buying a house is far above the national average. The recession [...]
Q: My lender is one of the big box lenders that has had all kinds of trouble with their loan modifications. I went through the total disaster HAMP program and it took a year for the bank to finally give me a loan modification. I finally got my loan modification in May, 2010, and the [...]
Q: I am current on my 8-year-old FHA mortgage, which is with one of the big banks. I want to refinance to take advantage of lower interest rates. When I have called my lender, they told me it would cost me $4,000 to $6,000 in closing costs to refinance. What I want is a streamline [...]
Q: I recently sold a property in Texas to my aunt. This was a one-sixth undivided interest in a family farm. My brother owns another one-sixth. We received these pieces of property when my mother passed away a year ago. My tax lady needs an appraisal of my one-sixth property, but the appraisers want to [...]
Happy Easter on the Ilyce Glink Show April 24, 2011 Lots happening this holiday week. With the Royal Wedding coming up this Friday, my good friend Linda Rey posted this timely information, Protect Your Big Day with Wedding Insurance on the Equifax Personal Finance Blog. Two billion people are expected to watch Price William and [...]
Jobs, Unemployment and the Spring/Summer Housing Forecast on the Ilyce Glink Show May 8, 2011 U.S. nonfarm payrolls jumped 244,000 in April, well ahead of expectations. But the official unemployment rate jumped from 8.8 percent to 9 percent. Why? More people came back into the jobs market. This week's jobs report was another good news/bad [...]
Q: My mother is about to turn 75. She took out a home equity loan years ago for about $33,000. At some point, the loan was converted by the bank from a home equity loan to a personal loan. Currently, she still has an approximate balance of $17,000. The problem is that Mom is on [...]
