Home equity line of credit fees can be confusingNews from Toronto Star:
When high school teacher Mark Murakami bought his Brampton home three years ago, he was encouraged by his bank to take out a home equity line of credit at the same time he arranged the mortgage. He was told applying later for a credit line would mean extra legal and processing fees, so it was easier to do it all up front.
Murakami hadn’t planned to get another loan on top of a mortgage, but not wanting to pay more for something he might want later, he took the [...] Continue Reading…
TexasLending.com to Discuss Home Loan Options on Radio KLIF in Dallas, TexasNews from Houston Chronicle:
CEO and president of TexasLending.com, Kevin Miller, and his co-hosts will discuss the various home loan options available from TexasLending.com including refinance loans, home equity loans, home purchase loans, reverse mortgages and FHA loans on The TexasLending.com Mortgage Hour weekend radio show on KLIF AM radio in Dallas.
Dallas, Texas (PRWEB) February 04, 2012
Kevin Miller, CEO and president of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas home equity loans, and his co-hosts will discuss the various home loan [...] Continue Reading…
Irish Negative Equity Home Loans May Reach 80%, Goodbody SaysNews from BusinessWeek:
February 03, 2012, 10:27 AM EST
Allied Irish Banks Said to Consider Redundancy Payoff Ceiling
RBS’s Ulster Redundancy Offer Rejected by Irish Labor Union
Irish Banks’ Funding May Stabilize This Quarter, Survey Shows
Irish Plan Won’t Trigger Mortgage ‘Default Tsunami,’ Glas Says
Captive Irish Banks May Help Avoid Second Bailout in Bond Swap
By Joe Brennan
Feb. 3 (Bloomberg) — About 80 percent of Irish residential mortgage balances may be in negative equity when house prices bottom, based on a “crude extrapolation” of figures by central bank economists, according to Eamonn Hughes, an analyst a…………… [...] Continue Reading…
Wells Fargo Home Preservation Workshop in SacramentoNews from LoanSafe:
(Source: By Mark Glover, The Sacramento Bee, Calif.) – Wells Fargo will host a free “Home Preservation Workshop” over two days next week at the Sacramento Convention Center.
The company said it has invited more than 11,000 regional customers of Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity to attend the Wednesday-Thursday workshop at 1400 J St. Hours both days are 9 a.m. to 7 p.m.
Organizers said there will be no charge to park. Walk-ins are welcome, but it is strongly recommended that participants register at [...] Continue Reading…
Equity Release Sales on the Rise, Report Bower Retirement ServicesNews from Sacramento Bee:
LONDON, February 1, 2012 — /PRNewswire/ –
Equity Release Sales increased steadily in 2011 boding well for further growth in 2012
The equity release market has reported a rise in both total lending and sales of equity releases plans with strong growth in the fourth quarter of 2011. The number of sales plans rose by 6% in the quarter, leaving commentators positive about further growth in 2012. According to the industry’s trade body, 90% of this growth was achieved by independent financial advisers (IFAs), including Bower Retirement Services.
Bower Retirement [...] Continue Reading…
Two Defendents From Brooklyn and Sacramento Charged for Home Equity Loan FraudNews from LoanSafe:
(Source: United States Attorney Benjamin B. Wagner) – United States Attorney Benjamin B. Wagner announced that a federal grand jury returned an indictment yesterday charging two defendants with mail fraud and money laundering in connection with a mortgage fraud scheme that resulted in losses of at least $ 180,000 to lenders. Charged are Andrey Kim, 28, of Sacramento; and Sultanmurod Rashidov, 29, of Brooklyn, N.Y. Kim was indicted for another mortgage fraud scam last month. He is scheduled to appear on the new charges on [...] Continue Reading…
Home values protected by new type of financing optionNews from NewsNet5.com:
HUDSON, Ohio – Property values have been hit especially hard in northeast Ohio. Thousands have moved out of the region, Cuyahoga County foreclosures continue at more than 900 per month and a growing number of vacant homes degradate dozens of neighborhoods.
Real estate experts report consumer confidence is key in getting people to buy homes here in northeast Ohio, and some say new financing options are one way to get families to move back into region.
Equity Lock Solutions , a company based both in Ohio and Denver, has announced a [...] Continue Reading…
Is a reverse mortgage right for you?News from Valley News:Friday, January 27th, 2012Issue 04, Volume 16.
A reverse mortgage is a loan for senior homeowners over 62-years-old that uses some of your home equity as collateral. If you keep paying your property taxes and insurance, the loan does not have to be repaid until the last homeowner moves out of the property or passes away. At that point, the home is sold and the loan plus interest is repaid and the remaining home equity goes to the surviving owner or the estate. If the home is worth less than the [...] Continue Reading…
It’s time to address the wealth gapNews from Philadelphia Inquirer:
Mitt Romney’s run for the presidency has highlighted the widening gulf between the nation’s haves and have-nots.
As a founder in the 1980s of Bain Capital – among the nation’s most prominent private-equity firms – Romney became extremely wealthy. As his tax returns show, he continues to receive tens of millions of dollars each year in returns on his investments.
As Romney rightly argues, he has nothing to apologize for – his success reflects his talent and gives him real credibility when discussing the economy. He has had hands-on experience managing a [...] Continue Reading…
Two indicted for home equity loan fraud in Central ValleyNews from Central Valley Business Times:Two indicted for home equity loan fraud in Central ValleySACRAMENTOJanuary 27, 2012 9:49am
• Lenders lost at least $ 180,000
• Accused of falsifying loan application info
Two people have been indicted by a Sacramento federal grand jury in connection with a mortgage fraud scheme that resulted in losses of at least $ 180,000 to lenders says U.S. Attorney Benjamin Wagner on Friday.
Charged are Andrey Kim, 28, of Sacramento and Sultanmurod Rashidov, 29, of Brooklyn, N.Y.
Mr. Kim was indicted for another mortgage fraud scam last month. [...] Continue Reading…