(New York Times) — Did the proliferation of low-down-payment, low-documentation loans cause the housing bubble? Last week, I discussed one core problem with answering that question — we don’t really know what happened to approval rates or loan-to-value levels over time. But let’s assume that we did know, and that loan-to-value ratios increased by 5 […]
(Smart Money) — A mortgage with an interest rate lower than 4% may have seemed like a pipedream during the housing boom five years ago, but plenty of Americans are locking them down in August. Could they be kicking themselves in September? With mortgage rates hovering near 40-year lows and selling prices still depressed, many potential […]
(Wall Street Journal) — The housing crash has left at least 11 million people in the unenviable position of owing more on their homes than they are worth—and many more millions with properties worth far less than they paid for them. But some might not be as trapped as they think. Read More…
(CNN Money) — Slick TV commercials and online ads tell delinquent borrowers that they can save their homes by filing for personal bankruptcy. But is it true — or just too good to be true? Read More…
(Wall Street Journal) — Dennis Davis has a nearly perfect credit score, equity in his home, considerable savings and a solid pension plan. But Mr. Davis recently found that his lender didn’t want to refinance his mortgage. The problem? Mr. Davis’s income-tax return showed he had taken a loss on an investment he made in […]
A record number of U.S. homes were lost to foreclosure this year.