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Posts Tagged ‘ Borrowers ’

Mortgage Settlement Update: A Refinance Plan for Certain borrowers with Negative Equity

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Mortgage Settlement Update: A Refinance Plan for Certain borrowers with Negative Equity

The following report suggests that a refinance plan for borrowers with negative equity might be part of any mortgage settlement. This would only apply to mortgages owned by the banks – and for borrowers who are current. From the WSJ: New Mortgage Plan Floated The plan under consideration would make refinancing available to some...
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Fed’s Rosengren says allow underwater borrowers to refinance

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Fed’s Rosengren says allow underwater borrowers to refinance

The Federal Reserve's policy of keeping interest rates low to spur lending hit a barrier in the recovery with home prices falling and underwriting guidelines keeping borrowers from refinancing, said Eric Rosengren, president of the Federal Reserve Bank of Boston. With that in mind, the Fed Bank CEO said he supports policies that would...
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Majority of Freddie Mac borrowers refinanced to fixed-rate loans in 4Q

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Majority of Freddie Mac borrowers refinanced to fixed-rate loans in 4Q

Fixed-rate mortgages accounted for the overwhelming majority of fourth-quarter refinancing on Freddie Mac loans. More than 95% of borrowers refinanced to a fixed-rate mortgage, with a strong trend toward shorter-term deals, according to the agency's quarterly Product Transition Report. Of the borrowers who refinanced from a 30-year FRM, almost one-third chose a 15- or...
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Phoenix Short Sale: Effective Remedy For Defaulting Borrowers

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Phoenix Short Sale: Effective Remedy For Defaulting Borrowers

Rick Mack talking about short sales Image by Phil Sexton Phoenix Short Sale: Effective Remedy For Defaulting Borrowers A Phoenix short sale is one of the rock-solid remedies that you, as a homeowner, can utilize of during a financial squeeze. If you realize that you can no longer keep or afford your home and...
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