Mortgage and Financial News From 2008-6-29 Page 10
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Foreclosed owner liable for unpaid dues / Responsibility ends when condo sale takes place (San Francisco Chronicle)
Q:Recently, my condominium unit was foreclosed upon, but the association has now sued me for unpaid assessments. Am I still responsible for this debt? A: Unfortunately, you are, but only until the foreclosure sale took place. Once a new owner took title to...
2008-06-29 12:37:11 -
Zillow to help consumers receive mortgage quotes (The Columbus Dispatch)
NEW YORK -- Armed with market research that shows Americans spend as much time researching a vacation as they do a mortgage loan, Zillow.com is launching a mortgage marketplace that allows consumers to anonymously receive custom loan quotes and rate their lenders.
2008-06-29 12:53:28 -
Bank of Canton Wins Second Award for Minority Lending (Banker & Tradesman)
By Amy Wyeth Residents might be high-tailing it out of the Bay State, but one bank has counted on immigrants to raise its sales – and win awards.
2008-06-29 02:17:14 -
Ohio's dams: How safe? (The Columbus Dispatch)
When Sean Logan, Ohio Department of Natural Resources director, watches news reports of devastating levee failures and catastrophic floods in the Midwest, his heart breaks for those affected, but he doesn't worry about his own backyard.
2008-06-29 03:04:57 -
State's Hispanics, blacks hit especially hard in housing crisis (San Diego Union-Tribune)
SAN DIEGO – Cesario Gonzalez, behind on payments on the duplex he cannot afford, told his troubles to a “homeowner preservation” counselor yesterday with hopeful eyes. With each twist of the tale – an interest rate climbing to 12 percent, desperate attempts to cover a $4,200 monthly mortgage by borrowing cash on a credit card – counselor Adelina Enriquez's eyes grew soft and sorrowful.
2008-06-29 03:17:49 -
Payment confusion begins when mortgage is sold (The Sarasota Herald-Tribune)
Q:We refinanced our home loan in March with an online mortgage lender. Within a couple of weeks, we received a letter from another mortgage company advising us that our May payment was to be made to them. A May payment invoice was included. I contacted the original lender and was told that the loan was not sold.
2008-06-29 03:46:01 -
Class-action suit unlocks credit report secrets - Chicago Tribune
WASHINGTON—If you're thinking about buying a home or refinancing—even if you've got excellent credit—you may want to avail yourself of a forthcoming free service that could help you get a better rate. Under a national class action settlement ...
2008-06-28 11:47:00 -
Demand for bigger jumbo mortgages is slow to materialize - Chicago Tribune
LOS ANGELES—When the federal government enacted rules in February to help borrowers get big mortgages, Rick Garcia hoped he'd finally be able to refinance his home. The 35-year-old veterinarian who lives in the San Fernando Valley started looking ...
2008-06-28 11:47:00 -
As Bill Evolves, Mortgage Debt Is Snowballing - New York Times
More than three million borrowers are in distress, and analysts are forecasting a couple of million more will fall behind on their payments in the coming year as home prices fall further and the economy weakens.
2008-06-28 08:55:00 -
Lenders limit or freeze home-equity credit lines (Philly.com)
FORT LAUDERDALE, Fla. - Counting on money from your home-equity line of credit to pay for home renovations or college expenses? Watch out. Some banks are starting to restrict or freeze access to emergency cash.
2008-06-29 01:15:25 -
Is now the time to buy home or pay off debts? (Orlando Sentinel)
Question: My daughter will be graduating from a Ph.D. program soon. Although she will be making upwards of $90,000 upon graduation, she will have almost that much in student loans to pay off. Is it best for her to buy a home now while there are so many under-priced due to foreclosures, or to get rid of her student-loan debt first? Her only other debt is a car payment. She thinks she should pay ...
2008-06-29 01:26:40 -
Scour sources of college aid (Asbury Park Press)
CRUNCHING THE
2008-06-29 01:46:07 -
Many residents who leave Lucas County head south, west (The Toledo Blade)
Toledo and Lucas County have lost more than 13,000 people since 2000, with nearby suburbs reaping some of the exodus, but most looked beyond Ohio for sunnier, warmer, and more job-plentiful states in which to settle.
2008-06-29 02:12:12 -
V.A.-Backed Loans on the Rise (NYTimes.com via Yahoo! Finance)
Demand for mortgages from the federal Department of Veterans Affairs is rising sharply, the V.A. said.
2008-06-29 02:36:56 -
As Housing Bill Evolves, Crisis Grows Deeper (The Gainesville Sun)
Congress’s rescue package for homeowners may only be able to touch a fraction of those in trouble, analysts say.
2008-06-29 03:06:15