Despite continuing low mortgage rates, one prominent Detroit bankruptcy attorney says ARMs remain a looming danger and should be avoided.

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A chance to remodify your loan mod: If you were unsuccessful at modifying your home loan, perhaps this will sound familiar: while you were making your trial payments, your servicer simultaneously began the foreclosure process.

Due to the federal penalties against mortgage servicers and a recent court ruling in California, a new wrinkle to the foreclosure prevention effort has emerged. If you [...]

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Two weeks ago I suggested that homebuyers be ready to act swiftly if mortgage rates dipped, since most experts are predicting that rates will remain on an upward trend as we look forward. I hope you potential homebuyers out there were listening because mortgage rates did ease last week, and current market conditions have made [...]

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A rebound in mortgage rates from last year’s near-record low has reduced consumer demand for home loans and refinancings, leading Wells Fargo & Co. to join other industry stalwarts in laying off loan processors and related workers.

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The California Housing Finance Agency announced this week that people who cashed out equity on their home now are eligible for three of the four “Keep Your Home California” programs.

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“The Obama administration proposes to reduce the “footprint” of Fannie Mae and Freddie Mac by reducing the ceiling on loans that the two government-controlled lenders can guarantee as of October 1, 2011. Current federal law allows the two agencies to guarantee mortgages up to $729,750 in some high-home price areas. The administration recommends that Congress [...]

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Earlier this week the Home Affordable Modification Program (HAMP) received yet another black mark on its increasingly-poor record. Reports now say that more borrowers have dropped out of HAMP than have graduated to “permanent” successful loan mods. According to our friend Alan Zibel at the Associated Press (AP), 155,000 borrowers dropped out of HAMP in [...]

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