Va Mortgage

Va Mortgage

A Va Mortgage or Veterans Administration Mortgage is a mortgage loan that is guaranteed by the U.S. Department of Veterans Affairs. This loan is offered with 100% financing and no private mortgage insurance is required. Availability is limited to the honorably discharged, retired, active duty, National Guard and Reservists of the US military.Email this to [...]

Investors see opportunities as housing prices remain low

November 11, 2009 Mortgage Financing

Low housing prices combined with discounted sales of foreclosed properties has led to a substantial uptick in investors’ interest in the housing market, according to a new survey released by Move.com.
The online real estate website reported in its most recent Homeownership Survey that 12.1 percent of homebuyers planned on purchasing a home as an investment [...]

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Strategically defaulting on a mortgage payment may make financial sense, says report

December 2, 2009 Mortgage Financing

A new report published by a professor at the University of Arizona claims that homeowners who strategically default on their mortgages are actually making a smarter financial decision than those who continue making payments even after falling into debt.
In the report, which was written by Brent White, it is argued that millions of homeowners have [...]

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Privately insured mortgage defaults rise in June

July 31, 2009 Mortgage Financing

The number of defaults on mortgages with private mortgage insurance rose in June by 0.5 percent from May, according to the Mortgage Insurance Companies of America (MICA).
Mortgage insurance protects lenders against losses from defaults on mortgages and is typically required on mortgages obtained with less than a 20 percent down payment.
MICA said its mortgage [...]

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Mortgage applications, refinancing rose last week

May 20, 2009 Mortgage Financing

Mortgage applications increased last week by 2.3 percent and mortgage refinancing applications rose 4.5 percent over the prior week, according to the latest survey results from the Mortgage Bankers Association (MBA).
The market composite index, a measure of mortgage loan application volume, was 915.9 last week, an increase of 2.3 percent on a seasonally adjusted basis [...]

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ADP: Job losses in September at smallest rate since July 2008

September 30, 2009 Mortgage Financing

The most recent National Employment Report from ADP released today reveals that nonfarm private employers shed 254,000 jobs from August to September on a seasonally adjusted basis, the smallest amount of jobs lost on a monthly basis in 14 months.
The diminished rate of job losses in September continues a trend that has now been documented [...]

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Mortgage fraud cost $1.4 billion in 2008, FBI says

July 14, 2009 Mortgage Financing

A new report from the Federal Bureau of Investigation shows that mortgage-related fraud increased sharply in 2008, costing mortgage lenders a total of at least $1.4 billion, an increase of more than 83 percent from 2007.
The FBI said 2008 mortgage fraud Suspicious Activity Reports referred to law enforcement increased 36 percent to 63,713, compared to [...]

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