mortgage News

mortgage News From AOL News

Jury Convicts Executive in $3B Mortgage Fraud Case

ALEXANDRIA, Va. -- A jury on Tuesday convicted the majority owner of what had been one of the nation's largest mortgage companies on all 14 counts in a $3 billion fraud trial that officials have said is one of the most significant prosecutions to arise from the nation's financial crisis. Prosecutors said Lee Farkas led a...

New Advertising Company Will Turn Your House Into a Billboard

If it's difficult to pay the bills on your house, try turning your house into a billboard. An advertising start-up in Orange, Calif., is offering to help 100 Americans pay their mortgages -- if the homeowners convert their houses into massive painted ads for the business. "It's a really good marriage for us to be able to...

House Votes to End Mortgage Reduction Program

WASHINGTON -- House Republicans pushed through legislation Tuesday to terminate an underachieving Obama administration program designed to reduce mortgage payments for homeowners in danger of losing their homes to foreclosure. Most Democrats, while acknowledging that the Home Affordable Modification Program has fallen...

Filmmaker Defeats Depression by Faking Intervention

As it was for many people, the 2008 recession was a bad time for filmmaker Steve Moramarco. "My life was literally in the toilet for about a year, personally and professionally," he told AOL News. "Everything was dead. As an actor, I had no auditions and there was basically no work. I was so underwater on my mortgage, I...

Court Rules Against Banks in Pivotal Mortgage Case

The highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. Friday in a pivotal mortgage foreclosure case that could spark more turmoil and uncertainty in a housing market already mired in depression. The Supreme Judicial Court affirmed a lower court judge's ruling invalidating two mortgage...

mortgage News From AOL

AOL LATINO NOTICIAS

SunTrust Subsidiary Settles Suit Accusing it of Discriminatory Lending

A subsidiary of one of the country's largest banks agreed to settle a lawsuit accusing it of discriminatory lending practices.

THE HUFFINGTON POST - BUSINESS

Miriam Axel-Lute: 6 Steps to Stabilize High-Foreclosure Neighborhoods

Don't Let the Lenders Lie. When lenders and servicers say they can't modify the principal on a loan because it's in a security and their securitization agreements don't let them, they're lying.

RENTEDSPACES.COM

Baltimore May Use 'Robo-Signing' Money To Level 700 Homes

How do you heal a housing market plagued by neglected homes?

THE HUFFINGTON POST - BUSINESS

Student Loan Debt Stands Alone

U.S. consumer debt fell in the first three months of the year as Americans made further inroads in paying down credit in all areas but student loans, which rose during the quarter, the New York Federal Reserve Bank said on Thursday.

DAILYFINANCE

This Bright-Eyed Young Man Was Utterly Demolished By Student Loans

Even as total outstanding student debt rises to $1 trillion, lawmakers have yet to allow loans to be discharged in bankruptcy.

mortgage News From the Web

06/02/12 Nicole Gelinas: Finally: Mortgage do-over time Source: The Merced Sun-Star - Merced CA A commenter to a January 2009 New York Times blog summed up the zeitgeist in asserting that "people who (bought) more house than they can afford ... ARE idiots."
06/02/12 Rochester taxpayers might have to repay a $3 million... Source: Democrat and Chronicle - Rochester NY The bill on downtowns Sibley building has come due for Rochester taxpayers.
06/02/12 Former Shamokin woman to head counsel for non-profit Source: News-Item - Shamokin PA Amy Sue Leavens has been named general counsel and corporate secretary for NCB Capital Impact, a national non-profit that helps people from low-income communities attain better access to affordable health care, healthy foods, education, housing and more dignified and respected elder care.
06/02/12 It is easier to buy a dream house today than in 1995:... Source: The Economic Times - India Despite rise in property prices in the last couple of years, it is now easier for the middle to upper middle-class people to buy a house in the country.
06/02/12 National business events next week Source: The Daily Herald - Everett WA Spain releases figure on the number of people receiving unemployment benefits in May. WASHINGTON â Institute for Supply Management releases its service sector index for May, 10 a.m. WASHINGTON â Labor Department releases first-quarter productivity data, 8:30 a.m.; Federal Reserve releases Beige Book, 2 p.m.; Senate Banking, Housing and Urban Affairs Committee hearing on the JPMorgan Chase trading loss.

Background on mortgage

A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan.

more at wikipedia »