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Bank of America to Reduce Mortgage Balances
Written on 24 Mar, 2010 at 18:46 in Blog | viewed 990 views times and users have made 0 comments so far
Bank of America said on Wednesday that it would begin forgiving some mortgage debt in an effort to keep distressed borrowers from losing their homes. The program, while limited in scope and available by invitation only, signals a significant shift... (Continue reading)
Property Values Fall Again
Written on 10 Feb, 2010 at 19:35 in Blog | viewed 450 views times and users have made 0 comments so far
U.S. home values declined another 5 percent in the fourth quarter, compared to the previous year. This was the 12th straight quarter of year-over-year declines, reported Zillow.com. More than 29 percent of homes sold in 2009 in the U.S. went... (Continue reading)
Will Rewarding Borrowers Prevent Defaults?
Written on 10 Feb, 2010 at 8:41 in Blog | viewed 429 views times and users have made 0 comments so far
Will paying underwater borrowers to keep meeting their mortgage obligations prevent them from walking away? Loan Value Group LLC says it is working with a major mortgage lender to test this theory. Here’s the plan. The mortgage investor offers a... (Continue reading)