Renting

Do I Qualify for the National Mortgage Settlement?

In case you haven’t heard by now, the so-called “National Mortgage Settlement” was finalized today. It’s the largest multi-state settlement since the Tobacco Settlement back in 1998, related to robosigning allegations that took place over the past several years. Essentially, some of the nation’s largest loan servicers routinely signed off on foreclosure documents without doing [&hellip

The post Do I Qualify for the National Mortgage Settlement? first appeared on The Truth About Mortgage.

Bank of America Has a Waiting List to Refinance

If you’re interested in refinancing your mortgage with Bank of America, you may be in for a big surprise. Per Bloomberg, the mega bank has been unable to keep up with demand, thanks in part to HARP Phase II, which is beginning to roll out. The program, which allows pretty much anyone to refinance, regardless [&hellip

The post Bank of America Has a Waiting List to Refinance first appeared on The Truth About Mortgage.

Obama Hasn’t Refinanced His Mortgage in Seven Years

Despite a push to allow more Americans to refinance their mortgages (Harp 2.0), the Obamas haven’t taken the time to refinance their own, according to a disclosure released yesterday by the White House. The financial disclosure revealed that as of the end of 2011, the 30-year mortgage (not sure if that means fixed or just [&hellip

The post Obama Hasn’t Refinanced His Mortgage in Seven Years first appeared on The Truth About Mortgage.

Obama’s Broad Based Refinancing Plan

It took a few weeks, but we’ve finally got concrete details regarding the Obama Administration’s so-called “Broad Based Refinancing Plan.” First off, homeowners with Fannie Mae and Freddie Mac-backed mortgages who are unable to refinance their mortgage to take advantage of the near-record low mortgage rates will be able to go through HARP 2.0. HARP [&hellip

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Will Low Mortgage Rates Hurt Home Sales?

Last week, I argued that the super low mortgage rates could actually be contributing to strategic defaults. The general idea being that the current low mortgage rates today make it even less desirable to hold a “high-rate” mortgage from the past. The only positive from this assumption is that homeowners in this position may buy [&hellip

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When Will the Next Housing Market Crash Take Place?

I’ve noticed a trend lately. Everyone’s a real estate expert. It seems the most recent crisis and recovery has turned just about every single person into a guru on all things to do with home buying and selling. I suppose part of it has to do with the fact that the massive housing bubble that [&hellip

The post When Will the Next Housing Market Crash Take Place? first appeared on The Truth About Mortgage.

Jim Cramer Just Paid Off His Mortgage with Bitcoin Gains

File this one under bizarre, for several different reasons. Mad Money host Jim Cramer disclosed yesterday that “he recently paid off a mortgage using profits from his investment in bitcoin.” He apparently purchased a significant amount of the cryptocurrency back when it was trading at around $12,000, which was actually as recently as last October. [&hellip

The post Jim Cramer Just Paid Off His Mortgage with Bitcoin Gains first appeared on The Truth About Mortgage.

Mortgage Crisis Foreshadowing

I think a lot. Often, about mortgages. In fact, a day doesn’t go by when I don’t try to think of topics to write about on this very website. It’s not always easy to come up with new material, given the fact that I’ve been writing about mortgages since 2006. But every once and a [&hellip

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New Petition Urges Mortgage Re-HARPing

Well, file this one under “was bound to happen,” or, “was only a matter of time.” A clever guy by the name of Marcus J. from Clementon, New Jersey has created an online petition to eliminate the securitization cut-off date for HARP eligibility. At the moment, this ever-important cut-off date is May 31, 2009, meaning [&hellip

The post New Petition Urges Mortgage Re-HARPing first appeared on The Truth About Mortgage.