Bad Credit Mortgage

Bad Credit Mortgage

A bad credit mortgage or sub prime loan was created to help people with poor or undesirable credit obtain a mortgage loan. These loans are offered at an interest rate above the prime rate. Creditors generally categorize these borrowers with low credit worthiness as having a FICO score of 640 or below. There are however, [...]

Americans report feeling ’solid’ about financial security

April 14, 2009 FHA Mortgages

Americans are feeling confident about their financial security and profitability, despite high unemployment and the loss of 5.1 million jobs since the start of the recession in late 2007, according to a new consumer confidence index.The Solid Index, a semi-monthly indicator launched this month by SunTrust Banks, measures the ways finances influence consumers’ daily lives, [...]

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Foreclosures leading to newly homeless families seeking aid

October 20, 2009 Mortgage Financing

The increasing amount of homeowners who are falling victim to bad credit forced into foreclosure are leading to an increase in those who have never faced the prospect of not having a home before seeking assistance from homeless shelters and organizations.
According to a new report – titled "Foreclosure to Homelessness 2009" – that was [...]

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Homeowners who lost jobs now facing foreclosure

May 26, 2009 Mortgage Financing

The recession that was born out of bad mortgage loans to unqualified buyers is now victimizing previously credit-worthy homeowners who have recently lost their jobs, according to a report from the New York Times.
The Times reported that economists are predicting a rise in foreclosures as unemployment continues to climb, from 8.9 percent this month into [...]

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A new National Retail Federation survey has found that consumers will reduce the amount of money they spend on their significant other this Valentine’s Day as they try to recover from bad credit and increase savings.

February 12, 2010 Mortgage Financing

Whether due to successful interventions of government loan modification programs, or simply due to seasonal trends, fewer homeowners fell behind on their mortgage payments and into foreclosure during January, RealtyTrac reported Thursday.
According to the website’s January 2010 U.S. Foreclosure Market Report, foreclosure filings for the month were listed at 315,715. The figure represented a decrease [...]

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Case sees housing market improving

September 30, 2009 Mortgage Financing

Renowned housing economist Karl Case may see bumpy roads ahead, but he is nonetheless confident that the housing market’s problems are slowly coming to an end.
"We’re not going to come roaring out of this," Case told the New England Mortgage Bankers Conference last week while in Providence, Rhode Island, according to DSNews.com. "We’ll come out [...]

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The nation’s foreclosure problem will likely not get better for the foreseeable future, as a new study forecasts that nearly two million homes are currently behind on mortgage payments.

December 18, 2009 Mortgage Financing

In an attempt to give families who are struggling with their mortgages some worry-free time with loved ones during the holidays, a number of financial institutions are suspending their foreclosure eviction processes until the beginning of 2010.
Fannie Mae announced on Thursday that it would not carry out its foreclosure processes on owner-occupants and tenants [...]

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