Mortgage Rates News

Mortgage rates remain below 5% - Modesto Bee

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MORTGAGE PRINCIPAL REDUCTION

... 30-year fixed-rate mortgage was 4.95 percent this week, down from 4.97 percent a week earlier, mortgage finance ... proclaims a residential home sale in Sudbury, Mass. Mortgage rates held below the 5 percent threshold for the second straight ... More

Posted: Fri, 12 Mar 2010 07:52:00 GMT

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Comments

August 5, 2009, 10:54 am

RE: MBA: Mortgage applications rise as interest rates fall - Birmingham Business Journal

Will the Govt Have to Become Direct Lenders to Property Owners? Mortgage work outs and renegotiation are not working. too many people are re defaulting on their mortgages. The Office of Comptroller of the Currency shows that a high re-default rate on mortgages that have been modified in the first two quarters of 2008. Here are the results of the OCC statistics during the first and second quarter of 2008: 1. 36% of borrowers had re-defaulted by being more than 30 days past due 2. 56% defaulted after roughly six months 3. 58% of borrowers had re-defaulted after an eight month period These numbers represent the number of mortgage work outs that had re-defaulted on their mortgages after the modification was completed. Clearly, the banks have not done enough in restructuring these loans to keep people in their homes. This coupled with a small amount of work outs completed and a terrible economy are adding to the housing mess that is now an across the board slowdown that is still not contained. I am a property manager and we recently chose to use an online rent collection company. I found this to be such an exceptional service, I chose to represent the company. Their property management software makes rent collection easy and saved us time and money. Tenants pay the bulk of the fees and we found most were happy to sign on. I have developed some tenant marketing materials for the program. If anyone has interest in learning more about how to limit the drudgery of rent collection and lower operating costs, please reach me here...

Howard - San Francisco