Should lenders modify loan balances to keep people from foreclosures?
What’s the best way to reduce the number of people facing foreclosures on their home loans?
A better question is, can we help people from facing foreclosure?
Mortgage Bankers Association (MBA) walking away from its mortgage loan?
According to an article in the Wall Street Journal by James Hagerty, the Mortgage Bankers Association (MBA) has sold its new Washington, DC headquarters for $41.3 million. Thing is, they may owe their lender as much as $75 million of the original $79 million purchase price.
The question is, will they payoff said lender, PNC Financial Services Group?
MA beats US in underwater mortgages
It’s estimated that nearly one in four American home mortgage holders owes more than what their property is worth, today.
Massachusetts performs much better; only 15 percent of homeowners with mortgages are estimated to be “underwater”.
Who’s spending and not spending in this recession – Boston Fed knows
The red-hot economy of the ’00′s was stimulated by consumer spending, much of it on borrowed money by homeowners writing checks on the built-in equity of their homes. The Federal Reserve Bank of Boston has released a study showing that, now, many consumers don’t have any money to spend, the result of their homes having lost value during this recession. Still, many people are still spending – those who didn’t need to borrow to spend during the good times and don’t need to borrow to spend, now.
Mortgage loan delinquencies rise but at lower rate, MA does well
Delinquency rates throughout the United States continued to increase during the third quarter of 2009. The good news is that, for the third consecutive quarter that increase has slowed.
Massachusetts’ homeowners have fared far-better.
