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Home | Tag Archives: Mortgage Debt

Tag Archives: Mortgage Debt

Older Americans Carrying More Mortgage Debt

New Homes

While the homeownership rate among Americans age 65 and older has remained at a constant 80 percent for the past decade, the percent of older Americans with outstanding mortgage debt has increased since the start of the housing crisis, according to a report released Wednesday by the Consumer Financial Protection Bureau (CFPB).

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‘Boomerang’ Buyers Expected to Boost Recovery in the New Year

Based on a poll of borrowers that have been subject to foreclosure, authorities at LoanSafe.org and AfterForeclosure.com say they're confident that 2014 will be the year of the ""boomerang"" borrower. They say changes in lending guidelines and population shifts make these buyers essential to the recovery of the housing market, particularly since developments that naturally advance housing have been largely disrupted in today's environment.

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Chase Boosts Customer Loyalty With Mortgage Rewards

Chase's Mortgage Cash Back rewards program allows customers who have both their mortgage and personal checking account with Chase to earn up to $500 annually. Since the program began four years ago, Chase has paid out $87 million to more than 368,000 homeowners. This December, Chase will be distributing $4 million in Cash Back rewards to customers, just in time for the holidays.

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Housing Momentum Stalled by Cautious Consumers

According to Fannie Mae's November National Housing Survey, positive momentum in the housing market has slowed as Americans remain cautious about their personal finances and the overall state of the economy. Nearly two-thirds of those surveyed believe the economy is on the wrong track. Within the next year, 22 percent expect their personal finances to worsen and only 45 percent expect home prices to increase.

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Why so Few Houses for Sale? Lots of Reasons.

Inventories of homes for sale have been slow to bounce back since the 2007-09 recession, despite steady price appreciation since January 2012. Normally, higher prices reflect robust sales. But lately, prices have been rising even though sales remain stuck at relatively low levels, largely due to a lack of inventory. So why are there so few homes for sale? Two Fed economists examine the many factors affecting today's inventory levels.

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As Borrowers Emerge from Underwater, Cloud of Problem HELOCs Rises

The percentage of homeowners who owe more on their mortgages than their homes are worth has declined to less than 12 percent as of the third quarter of this year, according to Lender Processing Services' (LPS) Mortgage Monitor report. While the increasing number of homeowners rising above water is good news for the market, LPS detects some tumultuous seas ahead as a cloud of problem home equity loans forms on the horizon.

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Capital Markets Veteran Outlines New Method of Home Financing

Perhaps you've known someone who raised money for a documentary or civic project by making an appeal through crowdfunding on the Internet. Now, the concept of pooled resources is being used as an investment vehicle offering equity in homeownership to investors and loan assistance to selected prospective homeowners.

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Despite Rising Prices, Investors Expected to Remain Most Active Buyers

While rising home prices have lifted many underwater homeowners to positions of positive equity, the real estate information and analytics provider DataQuick warns tight credit will still preclude many traditional buyers from the market. Instead, investors will continue to carry an outsized portion of the purchase market for the foreseeable future, according to DataQuick.

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Servicing Fees Counter Declines in New Mortgage Activity

Independent mortgage bankers are a growing segment and they're poised to take over even more market share as larger institutions trim their mortgage businesses. The five biggest banks were responsible for 53.2 percent of new mortgage activity in the United States in 2012, down from nearly two-thirds in 2010. According to a recent FBR Capital Markets forecast, that share could shrink to 40 percent by 2014.

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Eminent Domain Takes Root in Areas with High Unemployment, Poverty

To address widespread negative equity, at least 15 cities and counties are considering using eminent domain to seize underwater homes and lower borrowers' mortgage principal balances, according to the Urban Institute. The institute conducted a study to see what commonalities these communities share and found that all 15 suffer from high levels of poverty and unemployment, stagnant incomes, and low housing prices.

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