A recent legal settlement between the federal government and a title insurance agency is drawing fresh attention to one of the murkiest, least understood and most expensive items you get charged for in a real estate closing: title insurance.
Fraud in connection with home mortgages is on the rise, ranging from little white lies about the intended use of the property all the way up to much more sophisticated schemes.
If you’ve been pondering how you as a homeowner or buyer might fare under the new Republican tax overhaul plan, here are a few points to consider.
Federal officials plan to crack down on what they view as predatory lending schemes – reminiscent of the toxic practices seen during the housing boom – targeted at thousands of veterans nationwide who have VA home loans.
The catastrophic theft of 143 million consumers’ personal data from national credit bureau Equifax could cause financial grief for years for homebuyers and mortgage applicants.
Wells Fargo & Co., the controversy-battered big bank, has a new problem – this time directly affecting mortgage applicants.
Would you welcome the option to buy a house but not have to pay hundreds of dollars for an appraisal?
Americans readily gossip about home values – “Did you hear the crazy high price the house down the street sold for?” “Did you hear how little our neighbors were forced to take on their sale?”
If you’ve been waiting for the long-anticipated news that the two dominant players in the home mortgage arena – Fannie Mae and Freddie Mac – finally have decided to overhaul their outdated credit scoring systems to expand homeownership opportunities for a broader range of consumers, sorry. Your wait just got a lot longer.
One percent down on a new home loan? Zero down? Generous gifts of thousands of dollars from mortgage companies to help you swing the deal?
So what does it take to get approved for a mortgage to buy a house this summer, whether you’re a first-timer, planning to move up or downsize? Maybe not all that you think.
Quicken Loans arguably has the mortgage industry’s squeakiest-clean image, So it might come as surprise that a federal district court last week levied nearly $11 million in fines and damages against the company for an alleged appraisal tampering scheme by Quicken during the housing boom and bust years in West Virginia.
If you’re a tax-savvy homeowner, buyer or investor, you might be wondering: Hey, what’s going on with that big tax code overhaul bill the Trump administration and Republicans in Congress have been promising to deliver?
You’ve almost certainly seen or heard pitches for “credit repair” services promising to clean up your credit problems, reduce your debt or even raise your credit scores by 100 points or more.
Do we really need another Zillow Zestimate-style online gizmo to tell us what a computer model says our homes are worth? Probably not.
Do we always need an appraiser to tell us what a house is worth? The two biggest sources of mortgage financing in the country – Freddie Mac and Fannie Mae – think not.
They were all the rage – then the scourge – of the housing boom and bust. Now they’re back, big time: home mortgages that require tiny or zero-down payments from buyers.
It’s the No. 1 reason why mortgage applicants nationwide get rejected: They’re carrying too much debt relative to their monthly incomes.
If you’ve heard that some people might get a magic boost to their FICO credit scores in the 10-point range – without having to do anything – you’re right. But hundreds of thousands of consumers’ increases will be much larger.
Could condominiums financed with low down payment government-backed mortgages stage a surprise comeback under the Trump administration, which generally seeks to reduce federal involvement in housing?