Home mortgage foreclosures are eating away at the nation’s heartland and the American Dream - but don’t expect Pamela Stalling to turn into Chicken Little.
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The escalating Massachusetts mortgage crisis is expected to further depress house sales and prices in the state during the fall selling season, as some potential buyers’ loan applications are rejected or buyers delay making a purchase to see whether prices fall farther.
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Just three years ago, Martin and Jennifer Cossette took out a Connecticut mortgage and officially bought into the quintessential American dream of home ownership.
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Capital One said Monday it will shutter its wholesale mortgage business, a move that comes as lenders continue to struggle in the nation’s housing and home loan markets.
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Foreclosures have been surging for five years in the North Texas housing market, and almost nobody cared. Now, though, the problem is part of a global financial crisis.
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Home mortgage broker Ed Smith Jr. has been arranging home loans for 24 years - and it’s never been tougher for him to close a deal than during the past few weeks of turmoil.
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We’ve all seen the headlines.
Home sales are down 11 percent across the U.S. over the last 12 months, home prices are down, and inventories of homes are bulging.
But look more closely at the numbers.
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First Magnus Financial Corp., a large national mortgage lender that is suspending operations, says it has laid off 99 percent of its 6,000 employees in the U.S. and closed all of its 300 offices.
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Thinking about applying for a Colorado mortgage? Already an owner in this housing market? Consider the following questions…
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Fallout from the subprime lending crisis is pushing up rates on numerous large loans. Those taking on debt greater than a certain size to buy or mortgage refinance will feel the sting.
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