by Phyllis Rockower | Aug 10, 2013 | Real Estate News
The 9th District court of Appeals of San Francisco says that the banks were never interested in granting loan mods. under the HAMP (affordable modification program) so they are allowing the lawsuit against Wells Fargo to continue. [note color=”#ffffff”]The...
by Phyllis Rockower | Jun 1, 2013 | Uncategorized
Rates are slowly drifting upward. They have risen ½ % point since the lows of last fall. People have gotten too used to low rates and don’t get that this is historic and not normal. The federal reserve has been artificially keep in g interest rates low by buying up 10...
by Phyllis Rockower | May 23, 2013 | Real Estate News Posts
Under terms of a settlement with Banks and NY attorney general, Banks are supposed to do more to help homeowners. They are are actually doing not too much in principal reduction which was supposed to be the main benefit. They are leaning heavily towards short sales...
by Phyllis Rockower | Nov 30, 2012 | Economic News
It’s even tougher than ever to get a 3.5% FHA loan. You are more likely to fall into the traditional 10% down.. To get the lower downpayment your fico would have had to be 701 on average. Lenders have grown increasingly concerned about aggressive regulator...
by Phyllis Rockower | Nov 18, 2012 | Housing News
Because they insured the banks against loss if the loans went bad, they had to pay off a lot of money. Like any insurance company, if you have to pay out more than you collected in insurance premiums, you are in trouble. That is what is happening to FHA. Since 2007,...
