Top 5 Tax Credit Tips for New Homeowners
‘Tis the season to file your taxes! It’s the gift that can keep on giving once we know how to do them. So here’s five quick and easy steps to a bountiful tax return: 1) Get professional help. You can miss so many extra deductions just because you didn’t know they existed. 2) Keep your [...]
MA Attorney General Martha Coakley to take on Bad Lenders
Martha Coakley is stepping into the mortgage mayhem on behalf of her constituents. On Oct. 18th, the Boston Globe reported that Massachusetts Attorney General Martha Coakley will file a lawsuit against mortgage lenders who have abused their power. The lenders have not been named nor has their been a date set for the suit. There [...]
WSJ Calls for Focus on Housing
In the end, it all comes down to that new house. That’s what a recent blog post on the Wall Street Journal says, and adds that without a stronger focus on the housing sector, the United States may not move out of the recession so easily. The piece acknowledges the Fed’s recent rate change will [...]
Mortgage Rates Fall Below 4 Percent for the First Time
For the first time in America’s history, the average rate of a 30-year fixed mortgage dropped to just under 4 percent. The rate on 15-year fixed loans also dropped to a record 3.26 percent. These exceptionally low levels provide an excellent opportunity for consumers with previously high interest rates such as rates between five and eight [...]
One-Fourth of Borrowers are Underwater
According to a recent report by research firm First American CoreLogic, more than 23 percent of U.S. homeowners with mortgages owe more on their properties than they are worth. Another 2.3 million homeowners are within 5 percent of being underwater. About 5.3 million U.S. households have mortgages that are at least 20 percent higher than [...]
Bank of America now top lender
Wells Fargo relinquished its title as the top mortgage lender in America during the third quarter of this year. Bank of America jumped into the top slot and Wells Fargo slipped to number two as its loan origination volume dropped 25 percent from the second quarter. JP Morgan Chase secured the third spot, despite a [...]
