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Demand for 15-year mortgages surges as record low rates continue
This year's spate of record low mortgage rates have led borrowers to refinance into 15-year loans at a pace not seen in a decade. Freddie Mac's long-running survey of what lenders are offering to solid borrowers showed the traditional 30-year fixed-...
Tags: Freddie Mac
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Finally, it's mortgage do-over time
This month, Bank of America said it would start reducing mortgage balances by $150,000 on average for up to 200,000 underwater homeowners behind on their payments. The biggest news was the dog that didn't bark. Few pundits or Internet commenters...
Tags: Federal Reserve, Realty, Credit Ratings, Finance, Economy, Business and Finance
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BofA tries turning distressed homeowners into renters
Unable to qualify for modifications on Bank of America mortgages, a few of California's most distressed homeowners are being offered one last chance to stay in their homes: Become renters instead.
Testing a mortgage-to-lease program in the Golden State,...Tags: Foreclosures, Condos and Houses, Finance, Economy, Business and Finance, Financial and Business Services
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Retirees may find they don't qualify to refinance their mortgages
WASHINGTON — It's a mortgage problem that is likely to intensify as home-owning baby boomers by the millions shift into retirement: Although they may have significant financial assets tucked away in retirement accounts, their diminished monthly...Tags: Hartford (Hartford, Connecticut), Loans, Rockville (Bethlehem, Pennsylvania), Career and Workplace, Finance
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Federal Reserve uses YouTube to promote free foreclosure reviews
It sounded like the biggest no-brainer in the history of bank screw-ups -- a free, government-sponsored review of foreclosure proceedings, with compensation for homeowners who suffered financial harm. As it turned out, so few borrowers responded that the...
Tags: Federal Reserve, Loans, Citigroup Incorporated, YouTube, Finance
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Kaiser buys South Los Angeles site for new medical facility
A long-awaited redevelopment project known as Marlton Square in South Los Angeles is set to move forward with the sale of a large portion of the site to Kaiser Permanente. Kaiser, the nation's largest nonprofit health plan and hospital system, plans to...
Tags: Auction Service, Realty, Bankruptcy, Chicago Mortgages, Los Angeles Hotels
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Zillow: 31.4% of U.S. homeowners are underwater on mortgages
Nearly 16 million homeowners – not quite a third of people with mortgages – owe more on their home loans than their properties are worth, according to real estate site Zillow. Of all homeowners in the U.S., 31.4% were underwater in the...
Tags: Services and Shopping, Real Estate
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Judge dismisses parts of IndyMac fraud case
In a setback for federal regulators, a federal judge threw out many of the fraud allegations against former IndyMac Bancorp Chief Executive Michael W. Perry in a case stemming from the collapse of the onetime Pasadena mortgage lender.
U.S. District Judge...Tags: Countrywide Financial Corp., Federal Deposit Insurance Corporation, Corporate Officers, Prosecution, Laws
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Freddie Mac: 30-year mortgage rate down a tick at 3.78%
Record low interest rates for 30-year mortgages edged down another tick, Freddie Mac said in its latest survey, which showed lenders across the nation offering the benchmark loan at 3.78% compared to 3.79% last week. The typical rate on a 15-year fixed...
Tags: Freddie Mac, Banking, Financial and Business Services, Homes
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California Legislative Analyst OKs mortgage settlement cash shift
SACRAMENTO -- Part of California's share of a national legal settlement with five big mortgage banks can be used to help fill a $15.7-billion hole in the governor's proposed budget, the state Legislature's non-partisan policy advisor recommended. The...
Tags: Jerry Brown, Regional Authority, Finance, Economy, Business and Finance, Financial and Business Services
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Gov. Brown gets backing to use settlement funds for budget gap
SACRAMENTO — Some of California's share of the money from a national legal settlement with big mortgage lenders can be used to help fill a hole in the governor's proposed budget, the Legislature's nonpartisan policy advisor recommended.
The...Tags: Jerry Brown, Kamala D. Harris, Regional Authority, Finance, Economy, Business and Finance
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Negative equity remains a drag on housing market
Even as a tentative housing recovery in the Southland appears underway, a big stumbling block remains: the vast number of underwater homeowners.
Nearly 1 in 3 homeowners with a mortgage in Los Angeles County owes more on the loan than the property is...Tags: Services and Shopping, Consumer Confidence, Real Estate Sellers, Real Estate, Homes
May 31, 2012
|Story| Los Angeles Times
May 30, 2012
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May 26, 2012
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May 27, 2012
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May 27, 2012
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May 28, 2012
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May 24, 2012
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May 23, 2012
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May 24, 2012
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May 22, 2012
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May 23, 2012
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May 24, 2012
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