Mortgage Acts and Practices
“Proposed limits on the mortgage interest deduction and capital gains, and the repeal of deductions for state and local property taxes ... will impact every single American,” says NAR President Steve Brown.
More home buyers and current home owners are weighing the merits of a "green" mortgage, which allows them to finance home improvements that will lower long-term energy costs.
Mortgage applications for home purchases fell nearly 4 percent in the week ending Feb. 21 from the week prior, hitting their lowest level since 1995, the Mortgage Bankers Association reports.
A sector of the market that took a lot of blame for causing the financial crisis is slowly re-emerging.
Applications for home purchases dropped 6.3 percent to its lowest level since September 2011, the Mortgage Bankers Association reports.
Nearly half of complaints recently filed with the Consumer Financial Protection Bureau were about mortgages, loan modifications, and foreclosure activities by servicers.
Fifty-two percent of U.S. consumers say they expect to qualify for a mortgage now, according to Fannie Mae's latest National Housing Survey. That's an all-time high for the survey.
Mortgage applications for home purchases and refinancings fell in the latest week, the MBA reports.
Reverse mortgages are expected to be an increasing option that baby boomers turn to as they age to cover living expenses, but heirs may get stuck with the final balance due.