4 percent of Maryland borrowers face foreclosure
Maryland borrowers in imminent danger of losing their homes hit 4 percent in March for the first time on record as lenders stepped up the pace of new foreclosure proceedings. View full post on baltimoresun.com – Real Estate Share and Enjoy:
4% of Md. borrowers face foreclosure
Maryland borrowers in imminent danger of losing their homes hit 4 percent in March for the first time on record as lenders stepped up the pace of new foreclosure proceedings. View full post on baltimoresun.com – Real Estate Share and Enjoy:
Lenders likely to order second, last-minute credit report before closing on a mortgage
Changes taking effect June 1 are part of Fannie Mae’s ‘loan quality initiative’ to cut down on slipshod underwriting and fraud by borrowers. If you’re thinking about applying for a home mortgage this year, here’s some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing. [...]
Mortgage rates drop for fifth consecutive week
Interest rates hit their lowest level this year, mortgage company Freddie Mac says. The average rate for a 30-year fixed loan is 4.93%. The European debt crisis is helping to drive down rates. Interest rates on mortgages have declined for a fifth straight week, with 30-year fixed-rate loans dropping below 5% to the lowest level [...]
California home default cases plunge
A 40.2% drop in the first quarter suggests that the foreclosure crisis is easing. The California foreclosure crisis appears to be abating, new data shows, as the federal government and big lenders step up efforts to keep troubled borrowers in their homes. View full post on L.A. Times – Real Estate News Share and Enjoy: