Tag Archive | home loan

Fewer Than 1% of New Loans Troubled

For the first time since May of 2007, fewer than 1% of new loans are classified as ‘problem’ mortgages, according to a new report from Lender Processing Services. The mortgage analytics firm paints a picture of fewer troubled loans and even says with new problem loans in March coming in at 0.84%, the rate is […]

HUD to Sell 40,000 Distressed Loans in 2013

In an effort to address the country’s shadow inventory and relieve high-foreclosure areas, the U.S. Department of Housing and Urban Development will sell thousands of severely delinquent mortgage loans insured by the Federal Housing Administration.Throughout the summer ahead, HUD will sell approximately 20,000 distressed loans via the Distressed Asset Stabilization Program in an attempt to […]

What to do After the Rejection of a Mortgage Application

Applying for a mortgage is both exciting and terrifying. It can be one of the most stressful processes and is likely the largest purchase a person makes in his entire life. The mortgage application process requires filling out volumes of paperwork and gathering personal documents. Borrowers will need to provide personal information as well as […]

Buyers, Get an Edge During The Busy Spring Season

The spring and summer months are traditionally the busiest times of year for the residential real estate market. Weather is more cooperative and many families like to move while the kids are on their summer break. But in recent years spring, for many regions, has meant more homes on the market, but also more buyers, […]

Low-ball appraisal: Mortgage denied

NEW YORK (CNNMoney) — You find the home of your dreams. You’re pre-approved for a mortgage. You’ve scheduled the closing. Then … the appraisal comes in too low and the deal blows up. Even as some mortgage standards have eased, hitting a needed appraisal value is proving a frustrating blocker for buyers and sellers and […]