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Sunday, April 10, 2011

How to spoil a home description













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advertisementRelated Links:Mortgage Rate Trend Index7 freaky home threats: Are you covered?Condo conversion yields few optionsRelated Articles:Mortgage costs will riseBig loans will cost moreWhat will $200,000 buy?Bankrate.com's corrections policy Posted: April 4, 2011 Click for the best Mortgage rates in your stateCompare Mortgage Rates

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Freddie Mac Announces K-012 Offering of Approximately $1 Billion in Multifamily Securities

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(Source: Freddie Mac) – MCLEAN, Va. – Freddie Mac (OTC: FMCC) today announced a new offering of Structured Pass-Through Certificates (“K Certificates“), multifamily mortgage-backed securities.  The company expects to offer approximately $1 billion in K Certificates (“K-012 Certificates”), which are expected to price the week of April 4, 2011, and settle on or about April 27, 2011.

The K-012 Certificates will be offered to the market by a syndicate of dealers led by Wells Fargo Securities, LLC and Goldman, Sachs & Co. as Co-Lead Managers and Joint Bookrunners for the transaction. Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Jefferies & Company, Inc., and J.P. Morgan Securities have been named as Co-Managers for the transaction.

The K-012 Certificates are backed by 69 recently-originated multifamily mortgages and are guaranteed by Freddie Mac.  This is the fourth K Certificate offering this year.

K Certificates provide Freddie Mac with an efficient vehicle to securitize multifamily loans. The certificates provide investors with stable cash flows, structured credit enhancement and the Freddie Mac guarantee.

The preliminary offering circular supplement relating to the K-012 Certificates can be found at http://www.FreddieMac.com/mbs/data/k012oc.pdf.  This announcement is not an offer to sell any Freddie Mac securities.  Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac’s Annual Report on Form 10-K for the year ended December 31, 2010, filed with the Securities and Exchange Commission (“SEC”) on February 24, 2011, and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Securities Exchange Act of 1934, excluding any information “furnished” to the SEC on Form 8-K.

Freddie Mac’s press releases sometimes contain forward-looking statements.  A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company’s Annual Report on Form 10-K for the year ended December 31, 2010 and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company’s Web site at www.FreddieMac.com/investors and the SEC’s Web site at www.sec.gov.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

SOURCE Freddie Mac



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Foreclosure Prevention Workshop in Wisconsin

by Alex Ferreras on April 4, 2011

in Mortgage Assistance

(LoanSafe.org) - This foreclosure prevention workshop is held every second Thursday of the month for home owners who are already trapped in the foreclosure  process. At this event, home owners can get educated by a seminar conducted by HUD-certified housing counselors. At the events home owners will learn about the possibilities that exist to help every home owner.

Date of Event: 4/14

Time of event: 6pm

Location of Event: Madison College-Truax Campus
3550 Anderson St. , Madison

Call:  261-5677
Web: www.daneforeclosurehelp.org
Email: info

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Freddie Mac, Capital Markets Cooperative Renew Strategic Alliance

by Moe Bedard on April 4, 2011

in Home Loan News

CMC Lenders To Receive Competitive Execution, Pricing, and Value-Added Services

MCLEAN, Va. (Source: Freddie Mac) — Freddie Mac (OTC Bulletin Board: FMCC) and Capital Markets Cooperative (CMC), a Florida-based provider of services and expertise that reduce risk and maximize profits for mortgage bankers, have announced the renewal of their two-year old strategic alliance.

News Facts:



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Saturday, April 9, 2011

Today’s Current Mortgage Rates for 4/4/2011 from LoanSafe.org

Click Here to Use Our Mortgage Calculators... HOMEAbout UsTestimonialsContact UsPrivacy PolicyFORUMForum HomeTell Us Your StoryMortgage Lenders & ServicersBank of America Home LoansCountrywide Home LoansChase BankChase MortgageCiti MortgageWells Fargo Home MortgageOption OneForeclosure HelpMaking Homes AffordableNACALoan ModificationForelcosure ProcessShort SaleDeed in Lieu of ForeclosureForeclosure LawsForeclosure Prevention ServicesLoan Safe LoungeDo it Yourself Loan ModificationCredit & DebtCredit RepairBad CreditDebt ConsolidationDebt ManagementDebt SettlementHome Loan ForumMortgage Brokers ForumRefinanceHome Equity LoanForeclosure Bail Out LoansFHA Loans, Requirements, & RatesMoney ForumGoldWays to Save MoneyJob BoardsJob NewsMake Money OnlineGoogle AdsensePolitical ForumSurvival ForumMORTGAGEHome LoansChase MortgageConstruction LoanFannie MaeFreddie MacFHA LoanHome Equity LoansHome Improvement LoansHome Loan NewsLoan ProcessingManufactured Home LoansMobile Home LoansMortgage BrokersMortgage CalculatorMortgage InsuranceMortgage ModificationMortgage RatesCurrent Mortgage RatesMortgage ServicingRefinanceReverse MortgageSecond MortgageStop ForeclosureMortgage TermsVA LoanLoss MitigationLOANSBanksBank of AmericaCredit CardChase BankCredit CardCitiOneWest Bank Wells FargoCar LoansCommercial LoansDeed in Lieu of ForclosureForeclosure QuestionsLot LoanPersonal LoanPawn ShopsPredatory LendingRESPARentingStudent LoansWalk AwayREFINANCEFORECLOSUREForeclosure QuestionsStop ForeclosureForeclosure ProcessForeclosure LawDeed in Lieu of ForeclosureREAL ESTATEAppraisalsCommercial Real EstateHome BuildersHome Buyer Tax CreditHome ImprovementHome InspectionsHomeowners InsuranceHUDInvestment PropertyProperty ManagementProperty TaxesReal Estate AgentsRentingShort SaleTax ForclosuresRENTDEBT & CREDITCreditCredit CardsBankruptcyDebt ConsolidationPersonal FinanceCALCULATORSMax Mortgage CalculatorRefinance CalculatorFixed Loan Mortgage CalculatorMortgage Payment CalculatorWalk Away and RentRATESCurrent Mortgage RatesNEWSVideosJOIN USForum HomeLoginRegisterFAQ'S  Welcome to America's #1 Home Mortgage Blog
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- LoanSafe.org Quick Links: Get Daily Updates - Subscribe to Our RSS Feed Mortgage Assistance - Find mortgage help Scam Alerts - Watch Out for These Scams! Government News - Are they helping homeowers? Join Our Forum - Get FREE Help Online Now! Today’s Current Mortgage Rates for 4/4/2011 from LoanSafe.orgby Moe Bedard on April 4, 2011

in Current Mortgage Rates

(LoanSafe.org) – Today, a few  loan programs saw rates decrease at the majority of the top lenders we study daily, but over at US bank , a few had increased. Wells Fargo showed appeared to show no activity from last week.

This morning at Chase Mortgage, 30 and 15 -year fixed loans, in addition to their regular and FHA 5-year ARMs all decreased under both the their home purchase and refinance programs.

Bank of America Home Loans’ 30-year fixed loans decreased under their home purchase program. The rest of the lender’s rates stayed the same this morning.

30, 20 and 10 year fixed rates along with 5-year ARMs increased at US Bank. The lender also showed a decrease i their 3-year ARMs.

Wells Fargo Home Mortgage Purchase Rates:

30-year fixed: 5.000%
30-year fixed FHA: 4.875%
15-year fixed 4.250%
5-year ARM: 3.500%
5-year ARM FHA 3.750%

Wells Fargo Refinance Rates:

30-year fixed: 5.000%
30-year fixed FHA: 4.750%
15-year fixed 4.250%
5-year ARM: 3.625%
5-year ARM FHA 3.750%

Chase Home Mortgage Purchase Rates:

30-year fixed 4.875%
15-year fixed: 3.875%
7/1 ARM 3.625%
5/1 ARM 3.125%

Chase Refinance Rates:

30-year fixed 4.875%
15-year fixed: 4.000%
7/1 ARM 3.750%
5/1 ARM 3.250%

Bank of America Home Loans Purchase Rates:

30-year fixed 4.750%
5-year ARM 3.375%
30-year fixed rate, interest only 5.375%
5-year ARM, interest only 3.625%

Bank of America Refinance Rates

30-year fixed 4.875%
5-year ARM 3.500%
30-year fixed rate, interest only 5.375%
5-year ARM, interest only 3.750%

US Bank Fixed Rates

30-year fixed 4.750%-5.000%
20-year fixed 4.500%-4.750%
15-year fixed 3.875%-4.250%
10-year fixed 3.750%-3.875%
FHA 30-year fixed 4.750%
FHA 15-year fixed 4.250%

US Bank ARMS

3-year ARM 2.750% – 3.375%
5-year ARM 3.250% – 3.625%

DISCLAIMER: Maximum Original Principal Balance for Loans Closed in 2011

Places: Continental United States            Alaska, Hawaii, Guam

Units     General         Higher Cost          General      Higher Cost
1            $417,000     $729,750             $625,500     $938,250

2            $533,850     $934,200               $800,775     $1,201,150

3             $645,300     $1,129,250            $967,950     $1,451,925

4            $801,950     $1,403,400              $1,202,925     $1,804,375

The limit may be lower for a specific high-cost area; use the Loan Limit Look-Up Table above to see limits by location. These limits are the same as the 2010 high-cost area loan limits and apply to all loans originated on or before September 30, 2011. Loans originated on or after October 1, 2011, will use the

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Almost a Quarter of People With Mortgages Having Difficulty Paying Them Off

by Moe Bedard on April 4, 2011

in Mortgage Assistance

NEW YORK, (Source: Harris Interactive)– A new Harris Poll finds that fully 22% of people with mortgages are having difficulty meeting their mortgage payments, and this includes 7% who are having “a great deal of difficulty”. Furthermore, 21% of those with mortgages are “under water” in that they think their homes are worth less than the amounts that they owe.

However these numbers are somewhat lower than they were a year ago. Those having difficulty paying off their mortgages have declined from 29% to 22% (and those having a great deal of difficulty are down from 11% to 7%). At this time last year 24% of those with mortgages thought they were under water, three points higher than the number now.

These are some of the results of The Harris Poll of 3,171 adults surveyed online between March 7 and 14, 2011 by Harris Interactive.

Some of the main findings include:

– Two thirds (66%) of all adults have mortgages on their homes, slightly

lower than last year’s 69%.

– While most homeowners with mortgages (73%) are having little or no

difficulty making their mortgage payments, the 22% who are having

difficulty represent about 32 million people. And the 7% having a great

deal of difficulty represent more than 11 million people.

– Those who believe their homes are worth less than the money they owe on

their mortgages (21% of all those with mortgages) include 8% who say

their homes are worth “a lot less”. However theses numbers are somewhat

lower than they were a year ago (24% and 11%).

– Most adults (62%), whether or not they are homeowners with mortgages,

are at least somewhat concerned that their family’s income will not be

enough to cover all their costs and expenses this year. This number is

also very slightly lower than it was last year (65%). Unsurprisingly the

higher the family income the lower the level of concern. But among the

lowest income group, with household incomes of less than $35,000, fully

75% are concerned and 36% are very concerned.

So What?

These findings are consistent with other Harris Poll data on the economy that show a very modest, but, still painfully slow, recovery from the recession. Many millions of people are still hurting badly even if the numbers are slightly better than they were last year. It seems that we will continue to have a huge mortgage and foreclosure crisis until the economy is much stronger or house prices recover. It should be noted, however, that even the very modest improvements found in the poll may be deceptive. One reason why slightly less people are having difficulty paying their mortgages this year is that some people who were in difficulty last year have lost their homes and no longer have mortgages.

TABLE 1
HOW MANY HOME OWNERS HAVE A MORTGAGE?
“Do you have a mortgage on your home that you need to pay off?”
Base: Adults who own home (72% of all adults)

2010     2011
%       %
Yes, paying off mortgage                69       66
Had mortgage but it is paid off         20       22
No, do not have nor have ever had
a mortgage                             11       12

TABLE 2
HOUSE WORTH MORE OR LESS THAN AMOUNT OWED ON MORTGAGE
“Is your house currently worth more or less than the amount you owe
on your mortgage?”
Base: Adults who have a mortgage

2010 2011                Household Income
$34,999 $35,000  $50,000  $75,000 $100,000
or Less     to       to       to   or more
$49,999  $74,999  $99,999
%    %       %       %        %        %       %
MORE (NET)      55   57       46      52       57       66       64
A lot more   24   29       21      27       25       30       36
A little
more        31   28       24      25       32       36       28
About the
same           18   15       25      17       14       12       13
LESS (NET)      24   21       22      27       24       21       18
A little
less        12   13       14      16       15       11       10
A lot less   11    8        7      10        9        9        7
Decline to
answer          3    7        8       4        5        1        5

Note: Percentages may not add up exactly to 100% due to rounding.
Note: All of the numbers listed here refer to people, which is
greater than the number of homes involved.

TABLE 3
HAVING DIFFICULTY PAYING OFF MORTGAGE
“How much difficulty are you having paying off your mortgage?”
Base: Adults who have mortgage

2010     2011
%        %
Difficulty (NET)                     29       22
A great deal of difficult       11        7
Some difficulty                 18       15
Not much/No difficulty (NET)         68       73
A little bit of difficult       23       24
No difficulty at all            45       49
Decline to answer                     3        5

Note: Percentages may not add up exactly to 100% due to rounding.

TABLE 4
CONCERNED ABOUT NOT HAVING ENOUGH INCOME
“How concerned are you that your family’s income will not be enough
to cover all your costs and expenses this year?”
Base: All adults

2010 2011   Household Income
$34,999 $35,000 $50,000 $75,000 $100,000
or less  to      to   to or more
$49,999 $74,999 $99,999
%    %    %    %       %       %   %
Concerned (NET)             65   62    75   71      62      52  42
Very concerned         26   25    36   28      24      17  12
Somewhat concerned     39   37    40   43      39      35  30
Not concerned (NET)         36   38    25   29      38      48  58
Not very concerned     24   27    19   19      30      36  33
Not at all concerned   12   12     6   10       8      12  24

Note: Percentages may not add up exactly to 100% due to rounding.

Methodology

This Harris Poll was conducted online within the United States between March 7 to 14, 2011 among 2,379 adults (aged 18 and over). Figures for age, sex, race/ethnicity, education, region and household income were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents’ propensity to be online.

All sample surveys and polls, whether or not they use probability sampling, are subject to multiple sources of error which are most often not possible to quantify or estimate, including sampling error, coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments. Therefore, Harris Interactive avoids the words “margin of error” as they are misleading. All that can be calculated are different possible sampling errors with different probabilities for pure, unweighted, random samples with 100% response rates. These are only theoretical because no published polls come close to this ideal.

Respondents for this survey were selected from among those who have agreed to participate in Harris Interactive surveys. The data have been weighted to reflect the composition of the adult population. Because the sample is based on those who agreed to participate in the Harris Interactive panel, no estimates of theoretical sampling error can be calculated.

These statements conform to the principles of disclosure of the National Council on Public Polls.

The results of this Harris Poll may not be used in advertising, marketing or promotion without the prior written permission of Harris Interactive.

J39773

Q730, 735, 740, 745, 750, 755

The Harris Poll(R) #45, April 4, 2011

By Humphrey Taylor, Chairman, The Harris Poll

SOURCE: About Harris Interactive

Harris Interactive is one of the world’s leading custom market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers expertise in a wide range of industries including healthcare, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Serving clients in over 215 countries and territories through our North American, European, and Asian offices and a network of independent market research firms, Harris specializes in delivering research solutions that help us – and our clients – stay ahead of what’s next. For more information, please visit www.harrisinteractive.com.

Press Contact:Corporate CommunicationsHarris Interactive 212-539-9600press

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Business News on American International Group, BlackRock, Credit Suisse AG, Morgan Stanley and Barclays plc

by Alex Ferreras on April 4, 2011

in News

CHICAGO (SOURCE Zacks Investment Research, Inc.) - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: American International Group Inc., BlackRock Inc., Credit Suisse AG, Morgan Stanley  and Barclays plc.Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter:

Here are highlights from Friday’s Analyst Blog:

Fed Snubs AIG Offer to Buy RMBS

Finally, the Federal Reserve Bank of New York (FRBNY) turned down American International Group Inc.’s offer to repurchase its $15.7 billion residential mortgage-backed securities (RMBS) on Maiden II. This is a special-purpose investment vehicle that the company had handed over to FRBNY as collateral mortgage bonds during the peak of its financial crisis.

The FRBNY has however decided to hold competitive bidding on the RMBS rather than handing them back to AIG. The bidding procedure is expected to help boost FRBNY’s earnings. Moreover, given the improvement in the yield of the RMBS driven by the ongoing economic revival, many bidders are showing interest in this investment.

For similar reasons, the buyback by AIG at this point would have proved to be a lucrative investment. Hence, the company’s management is quite disappointed with FRBNY’s decision. Nevertheless, beginning next week, FRBNY plans to sell these securities in blocks and pieces over time, whereby BlackRock Inc. is appointed to manage the sale process.

Meanwhile, the Financial Times reported that Credit Suisse AG , Morgan Stanley and Barclays plc (NYSE: BCS) are among the potentially interested bidders.

Earlier this month, AIG had offered repurchase of about 800 RMBS at about 50 cents on the dollar. When AIG was formed in December 2008, it had about $20.5 billion of RMBS under Maiden II, which has now declined to $15.9 billion.

The repurchase would have helped the US government to earn about $1.5 billion from the company’s bailout loan. Additionally, the repayment of Maiden II loan could reduce AIG’s loan obligations toward the US government to roughly $26 billion from $39 billion at 2010 end and the initial debt chunk of approximately $182 billion in 2008. This could have been quite an impressive progress.

The government’s $26 billion comprises preferred interests in AIA Group worth $11.3 billion held by the Treasury, a different Maiden Lane III vehicle that holds interests in collateralized debt obligations, and an undrawn line of credit. Besides, the debt repayment can help ease the process of public offering of 92% stake of Treasury in AIG, which is expected by May this year.

Overall, uncertainty prevails on how successfully FRBNY will be able to unload this RMBS portfolio, where AIG has already set a bar of $15.7 billion, in an attempt to maximize its returns.

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