Cleveland Bad Credit Home Loans Lawsuit vs Chase, Goldman Sachs, Countrywide and Bear Stearns Rejected
Cleveland, Ohio has seen many troubles when it comes to a struggling economy and bad credit home loans. In 2007, has four of the top 21 zip codes when it comes to foreclosure rates and over 7000 foreclosures were filled in that one year alone. In 2008 the city decided to take matters into their [...]
Wells Fargo Mortgage Banking Falls Short Even With Low Mortgage Rates and Increased Refinance Activity
Wells Fargo has seen a drop of 12% over the last three months when it comes to its stock price. In an earnings report that was released on July 21st, the San Francisco based bank reported that mortgage banking fell short of forecasts. Even though mortgage rates are extremely low and refinance activity is beginning [...]
Wells Fargo Sued for Refinance Home Loan Consolidation Practice into an Adjustable Mortgage
Predatory lending practices have been a very hot topic as of late as President Obama often references this practice in his speeches relating to the Financial Regulatory Bill. A Charleston, West Virginia man has taken action against Wells Fargo in a refinance home loan and bills consolidation practice that put him into one adjustable home [...]
Bank of America Loan Modification Lawsuit on Cape Hampton Inn and Suites Could Bring Foreclosure
Many small businesses and Americans have greatly struggled to make loan payments to all the big banks including the Big Four of Bank of America, Chase, Citigroup and Wells Fargo. In Cape Coral, Florida there is a Bank of America loan modification lawsuit pending that involves the Cape Hampton Inn and Suites. A lawsuit was [...]
Bank of America Offers $45.4 Billion in Small Business Loans to Help Promote Job Creation in 2010
Recently, Bank of America announced that they have lent $45.4 billion in small and medium-sized business loans in the first half of 2010 to help promote job creation in 2010. When compared to the same period in 2009, Bank of America has stepped it up to the tune of $9 billion. At the end of [...]
Daily Mortgage Interest Rates Today for July 28 – Morning Update – 30 Year Moves Higher
Over the last few days the 10 year treasury rate yield has continued to push higher making most of those in the mortgage market realize that 30 year fixed mortgage rates would soon follow higher as well. The 10 year yield was on a four day winning (or unchanged) streak but early on today it [...]
Refinance Mortgage Applications up 30% Over Four Weeks Due to Low Interest Rates on Home Loans
Mortgage data has recently shown that refinance mortgage applications are up 30% over the past four weeks and much of this is due to the fact that interest rates are very low for home loans. Zillow.com has recently reported that 30 year fixed mortgage rates are as low as 4.37% in some areas. The Mortgage [...]
Case Shiller Index Shows 20 City Composite Up 4.6% – San Francisco, San Diego and Minneapolis Lead in Home Price Increase
The Case Shiller Index released data this morning that showed a 4.6% year over year increase in the 20 city composite. Of the 20 cities, seven saw a decline in year of year home prices while 13 cities saw an increase. The cities seeing double digit gains include San Francisco, San Diego and Minneapolis. San [...]
United States Unemployment Rate Falls to 9.5% but Fear of a Double Dip Looms Claim Economists
The United States unemployment rate dropped from 9.7% in May to 9.5% in June which is a good sign for the economy but there are some economists that feel the possibility of a double dip is higher than earlier predicted. This morning, Yale economics professor, Robert Shiller stated that the probability of a double dip [...]
Daily Mortgage Interest Rates Today for July 27 – Afternoon Update – 30 Year Fixed Rates at 4.37%
This morning we reported that the 10 year treasury rate yield is on a streak of four consecutive days of being up or unchanged. As the trading day concludes that is exactly what has happened. The 10 year yield is up 1.77% today to 3.047%. It may take a short period for 30 year fixed [...]
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