Mortgage Loan Network

“Inventory is still high and further reduction in prices may be required in some areas to induce buyers back into the market”

Sales of previously owned homes inched up in November but that didn’t change the overall bleak picture for an ailing housing industry that has been suffering through a painful slump.

The National Association of Realtors reported Monday that sales of existing single-family homes, condominiums and townhouses rose 0.4 percent in November from October, to a seasonally adjusted annual rate of 5 million units. Over the last 12 months, however, existing home sales have plunged 20 percent, underscoring the troubles in the housing sector. Read more

“When you’re dealing with things that are as fundamental as responding to the world climate, it’s got to be a solution that doesn’t pass on a 51-49 vote”

A deeply unsettled nation takes the first step this week in choosing a president to confront a world of challenges that have flummoxed the current administration and undermined Americans’ confidence in government.

In Iowa’s snowy cities and villages, Republican and Democratic activists on Thursday will begin winnowing the candidates who have put themselves forward as best able to end war in Iraq, avert recession at home, heal partisan wounds and combat global warming that threatens the planet. Read more

“Considering all that’s going on, the market really acted pretty well”

Wall Street ended a painful year with another steep loss Monday as investors glumly anticipated that 2008 would see a continuation of the uncertainty and turbulence of 2007.

The Dow Jones industrials fell about 100 points the latest in a string of triple-digit moves that became commonplace in the just-ended year, although they still managed to finish 2007 with a respectable increase of more than 6 percent not as large as the 16.29 percent increase in 2006, but a better performance than the modest loss in 2005. Read more

Mortgage insurers saw defaults rise to a new monthly record in November, according to data published yesterday by an industry trade group, adding to evidence the U.S. housing slump is deepening.

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Mortgage insurers saw defaults rise to a new monthly record in November, according to data published Monday by an industry trade group. Defaults, defined as loans 60 or more days late, rose in November to more than 61,000 industrywide, up 35 percent from the same month a year earlier, according to the Mortgage Insurance Companies of America. It was the highest monthly number since May 1999, when …

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Two developers and their pals secured loans on homes they allegedly overpriced. Kathy Moore’s loan application sailed through the mortgage desk at Lehman Bros. Bank. And little wonder.

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Notice Of Mortgage Foreclosure Sale THIS FIRM IS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION WE OBTAIN WILL BE USED FOR THAT PURPOSE. PLEASE CONTACT OUR OFFICE AT THE NUMBER BELOW IF YOU ARE IN ACTIVE MILITARY DUTY.

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Wachovia may have to take additional mortgage write-downs stemming from troubled commercial mortgage-backed securities, analysts say. (WB) (GS)

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WASHINGTON (AP) – Mortgage insurers saw defaults rise to a new monthly record in November, according to data from an industry trade group.

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(ARA) – If you’ve recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services.

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