New Bank of America Program WIPES OUT Negative Mortgage Equity

…Bank of America will soon be off the hook for mortgage abuses in exchange for a whole bunch of money. The money will be used for loan modifications and….mortgage debt forgiveness. Yes,you read that right…BofA will soon be announcing a new program to forgive underwater owners negative equity.

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2012 Real Estate Predictions / 2012,The Year Of The REO

1 Million Foreclosures Delayed Until 2012 An estimated 1 million foreclosure-related notices for defaults,auctions,and home repossessions that should be filed by lenders this year will be pushed back until next year,according to the latest report by RealtyTrac.

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Why You Need a Good Negotiator in Today’s Market

InfoGraphic via Why You Need a Good Negotiator in Today’s Market. . . . →Read More:Why You Need a Good Negotiator in Today’s Market

Should You Be LOCKING Your Loans?

Should You Be LOCKING Your Loans?. Should you lock in the interest rate on your mortgage? A couple of things to consider:1. While I am confident that the Debt Ceiling Debate will be settled (whether it’s for six months or a year),my greater concern is the growing belief that the ratings agencies are looking at downgrading our government’s bonds from our AAA status. By lowering the credit rating of the bonds being presented to the market,the confidence of those who buy our bonds will be shaken. In order to overcome the risk of lower rated bonds,we will need to offer greater rates of returns on our bonds. THAT will result in a rise in mortgage rates because mortgages are what make up the bonds. This will affect virtually every conforming loan limit home buyer,whether they have conventional or government (FHA/VA) financing.

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August 2011
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