Pacific Glen Realty

Congress considers extension to mortgage-debt relief deadline

admin — Wed, 11 Apr 2012 17:58:22 +0000

April 11, 2012 - For anyone hoping that a fractious, election-bound Congress can manage to extend a law that is crucial to the housing recovery — the Mortgage Forgiveness Debt Relief Act — here’s a little good news: Before heading home for the Easter holiday recess, key members of the House and Senate tax-writing committees introduced bills that would keep the law alive through 2014.

Consumer loan picture improves across the board in 4th quarter

admin — Fri, 06 Apr 2012 23:07:05 +0000

April 5, 2012 - Delinquencies are lower in all 11 consumer loan categories tracked by the American Bankers Assn., a rare occurrence that reflects the nation’s improving jobs picture and the progress that consumers and banks have made in cleaning up their respective financial problems.

Rents keep rising as home prices stagnate

admin — Thu, 05 Apr 2012 23:46:19 +0000

April 5, 2012 – Renting used to be cheaper than buying. But in many U.S. cities that’s no longer the case, as rents continue to climb and home prices stagnate.

Study Hits Banks On Foreclosure Maintenance

admin — Wed, 04 Apr 2012 20:42:43 +0000

April 4, 2012 - A consumer-advocate group said in a report Wednesday that a study of foreclosed properties found that banks have higher standards for properties they own in wealthy, predominantly white, neighborhoods than low-income ones, raising a new civil-rights challenge against the mortgage industry.

Freddie Mac: Typical 30-year mortgage rate back under 4%

admin — Tue, 03 Apr 2012 17:32:04 +0000

March 29, 2012 – The typical rate for a 30-year fixed mortgage has dropped below 4% again, according to a widely watched weekly report from home-loan giant Freddie Mac.

Paying on time

admin — Mon, 12 Mar 2012 06:46:21 +0000

March 8, 2012 – Fewer homeowners have been falling behind on their mortgage payments over the last two years, yet even with the improvement, a significant number still are delinquent or in foreclosure.

Bank of America to reduce principal

admin — Mon, 12 Mar 2012 06:38:41 +0000

March 9, 2012 – Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers.