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the sub-prime mortgage crisis was just the tip of the iceberg. analysts are saying a new wave of foreclosures is on the way. and this time, people who got reasonable home loans and have good credit are falling behind. madeleine brand talks to real estate analyst mike larson of weiss research about how a new wave of defaults is a symptom of a larger trend.
u.k. mortgage approvals decline to lowest since 1999
july 29 (bloomberg) -- u.k. mortgage approvals fell to the lowest since at least 1999 in june as financial institutions curbed lending, deepening the housing slump.
mortgage rates stayed high last week
rates on 30-year mortgages didn't budge last week, while rates on other home loans were a mixed bag. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent for the week ending Aug. 7. That was the same as...
state employees' Credit Union Rolls out Consumer-Friendly Reverse Mortgage
state employees' Credit Union (SECU) is pleased to announce a consumer-friendly reverse mortgage designed to help senior members utilize the wealth in their homes in the best manner. Setting it apart from other industry-standard reverse mortgages, the Credit Union loan offers a fixed, stable rate of interest, a simple interest accrual method, a low origination fee of 1%, no mortgage insurance ...
