Interest-only loans prove short-term fix
ALAMEDA homeowner Tony Stearns plans to refinance his interest-only loan into a new interest-only loan to avoid the shock of higher payments that kick in when the low initial term expires.
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High Appraisals Signal Change What's going on with appraisals? In some parts of the country, mortgage lenders -- and appraisers themselves -- say they're increasingly coming in with valuations higher than the contract
Certain mortgages might require private insurance Question: What are 80-10-10 loans? Answer: If a borrower put 10 percent down on a home purchase and took out a mortgage for 90 percent of the property's value,
Mortgage Woes Could Spread to Cars (AP via Yahoo! Finance) Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business.read more...
Barclays, New Century reach loans deal New Century Financial Corp. said Thursday it had reached a deal with Barclays Bank PLC that would effectively release the troubled subprime mortgage lender from having to buy back about
Freddie Mac 2005 Earnings Drops to $2.1B Mortgage finance giant Freddie Mac, emerging from an accounting scandal, reported Tuesday that its income slid to $2.1 billion last year from $2.9 billion in 2004 as it paid to
Top biz news of '06: Housing's decline The nation's house party ended with a thud in 2006, leaving everyone from condo flippers to Federal Reserve chairman Ben Bernanke waiting to see what would happen next.Commentread more...