In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
This latest program, which will allow owners to sell for less than they owe and will give them a little cash to [...]
Posts Tagged ‘borrowers’
Program to pay homeowners to sell at a loss
March 8th, 2010 by Financial Writer
Tags: borrowers, foreclosure, households, mortgage, mortgage finance, owners
more...Low inflation gives Fed room to keep rates down
February 20th, 2010 by Financial Writer
The Federal Reserve seems likely to keep interest rates at record lows for several more months after news Friday that consumer prices excluding food and energy fell in January.
It was the first time such prices have fallen in any month since 1982.
The tame report on consumer prices sent a positive signal to investors and borrowers. [...]
Tags: borrowers, businesses, Dow Jones Industrial, economic recovery, Federal Reserve, global financial markets, investors, low inflation
U.S. mortgage demand at six-week highs on refinance wave
February 3rd, 2010 by Financial Writer
Demand for U.S. home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday,
Applications to buy homes and refinance loans jumped last week to mid-December levels as average 30-year mortgage rates held near 5 [...]
Tags: borrowers, great depression, mortgage bankers, mortgage rates, refinance loans, us home loans, us mortgage
U.S. mortgage demand up for third week as rates drop
January 20th, 2010 by Financial Writer
Demand for U.S. home loans rose last week for the third straight week as mortgage rates fell to a one-month low and stoked refinancing, an industry group said on Wednesday.
Borrowers are rushing to take advantage of low borrowing costs and other incentives while they last.
The Mortgage Bankers Association’s index of total home loan applications rose [...]
Tags: borrowers, mortgage bankers association's, mortgage rates, us home loans, us mortgage
Fed says banks eye tighter terms on credit cards
November 9th, 2009 by Financial Writer
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.
A quarterly survey by the Fed found that many banks expect to increase rates, reduce credit limits and raise annual fees for both prime borrowers — those with [...]
Tags: banks, borrowers, credit cards, economic recovery, Federal Reserve, increase rates