Weekly Recap (09/26/11-10/01/11)by Tim Manni
Both consumers and professionals alike are drawn to HSH.com for our ever-expanding suite of financial tools, articles, mortgage rate information, expert commentary and more.
Just this week, HSH.com released two new and unique calculators designed to help homeowners save thousands by paying off their mortgages early…
Recent groups of protestors that have sprouted up across the city of Boston haven’t been voicing their displeasure with their baseball team’s September collapse, they’re protesting against Bank of America.
Today, over 1,000 people are expected to march in downtown Boston to protest against the bank, and “rally against Wall Street greed, predatory lending, and skyrocketing foreclosures in urban communities,” according to a press release.
Take Back Boston, one of the websites that has the latest information on anti-BofA protests and ralliess across the city, says although these protests are happening in Boston, this is a national concern…
The newly-formed Consumer Finance Protection Bureau has come out with an agenda of sorts–the goals it sees for itself to better the mortgage marketplace.
Here are the three central concepts which the CFPB outlined:
1. “People should be able to know before they owe. More paperwork doesn’t mean better disclosure.”
I would seriously doubt many people have any clue as to the actual content of their loan documents or settlement papers…
First-time homebuyers are extremely important to this country’s housing market. The participation of this buying demographic is essential for housing to function properly.
However, just like many other potential buyers in the current marketplace, the influence of first-timers has been diminished.
Today, we’re going to examine three specific factors keeping this integral portion of the market on the sidelines…
How many additional foreclosures are likely in the pipeline during the next few years?
The answer is as many as 10,367,515, according to Laurie S. Goodman with the Amherst Securities Group.
Speaking before a Capitol Hill subcommittee, Goodman said…
There were plenty of economic twists and turns last week which allowed mortgage rates to find some additional room to fall.
Fed and economy send rates downward
The “wildcard in the [mortgage rate] forecast is the Fed; if something unexpected comes in the statement which will come on Wednesday, some additional volatility in either direction might occur.”