Will Mortgage Lenders Offer Cash to Stay Current?

by Alex Stenback 02.08.2010

Well, we already have “cash-for-keys,” (where those facing foreclosure are offered a financial incentive to not trash the place on the way out the door,) so I suppose this was inevitable.
Nick Timiraos over at the Wall Street Journal Developments blog reports that an outfit called Loan Value Group LLC is pitching a new program to mortgage [...]

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Monday Market Commentary February 8th, 2010: Where Mortgage Rates are Headed

by Alex Stenback 02.08.2010

Last Week:
30 year mortgage rates improved slightly just about everywhere last week as a volatile stock market and improving but still fairly depressing employment report (employment rate dropped to 9.7%, but revisions to prior reports “found” another 1 Million jobs that were lost in 2009.)
This Week:
What the economic calendar lacks in volume this week, it [...]

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The Other Reason Getting a New Mortgage has Gotten Tougher

by Alex Stenback 02.05.2010

Anyone who’s recently financed a home will attest to the fact that getting a mortgage has gotten a lot tougher than it used to be.
And unless you’ve been under a rock, the main reason is pretty obvious: With over 13% of all mortgages in “non-current” status (from 1 payment behind to in foreclosure) lenders have been furiously tightening [...]

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Curb Appeal Enthusiasm: Weekend Open House Picks

by Alex Stenback 02.05.2010

Curb Appeal EnthusiasmTM is a weekly feature where I scour the slate of opens and hoist a few that catch my eye. Totally subjective outlet for my real estate obsession. Reports from the field and suggestions encouraged.
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18510 9th Avenue N. | Plymouth
$1.675M | Sun 1-4 | Steven Bohl
I don’t do enough new construction for open [...]

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Former Ameriquest Mortgage Assistant Pleads Guilty to ID Theft

by Alex Stenback 02.02.2010

“Someone stole all my credit cards, but I won’t be reporting it. The thief spends less than my wife did.”
 - Henny Youngman
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Though Ameriquest, a favorite whipping-post-lender-from-the-good-old-days is long defunct, there are apparently still some former employees winding their way through the judicial system. From WCCO:
“A former mortgage assistant…admitted to stealing the files of 93 people who’d [...]

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Will Mortgage Rates Really Soar When the Fed Exits the Market?

by Alex Stenback 02.02.2010

Almost everybody (this writer included) expects mortgage rates to rise once the Fed concludes their $1.25 trillion mortgage shopping spree on March 31st.
Estimates vary, but most expect rates to move up by .25% – .75%.  After all, the whole point of the program was to force rates lower, right?  So it only stands to reason [...]

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Monday Market Commentary Feb 1st, 2010: Where are Mortgage Rates Headed

by Alex Stenback 02.01.2010

Last Week:
The mortgage market suffered through some serious mid-week volatility, but from market close on Monday to market close on Friday, benchmark 30 year rates were unchanged.Yet another reason not to get too wrapped up in the day-to-day swings of the market. 
Against the backdrop of a Fed meeting, State of the Union address, and the confirmation [...]

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Curb Appeal Enthusiasm: Weekend Open House Picks

by Alex Stenback 01.28.2010

Curb Appeal EnthusiasmTM is a weekly feature where I scour the slate of opens and hoist a few that catch my eye. Totally subjective outlet for my real estate obsession. Reports from the field and suggestions encouraged.

1809 Fremont Ave. S. | Minneapolis
$1.195M | Sun 2-4 | Bruce Birkeland
Loving this on Lowry hill.  Open porch looks [...]

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Home Buyers Tax Credit: Fraud Prevention Measures Mean No Electronic Filing

by Alex Stenback 01.27.2010

While we await the Fed announcement (2:15 PM ET, the policy statement will post here - link will be dead until 2:15ET)  amuse yourselves by reviewing the guidelines and IRS forms for the home buyers tax credit, which were released about ten days ago.
The form 5405 itself can be found here [PDF!] but do read the form [...]

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