Archive for April, 2011
Wednesday, April 20th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Principal Loan Reduction News: Only 30 Percent Of Foreclosures On The Housing Market
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate
RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30 percent have actually made it onto the market.
According to its year-end report, foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing 4 million filings according to several St Louis mortgage brokers.
And that’s not counting the more than 5 million delinquent loans that have yet to enter the (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, in house financing, principal loan reduction, principal reduction program, REO, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis foreclosures, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lenders, st louis mortgage lending, st louis mortgage loan, st louis mortgage news, st louis mortgage refinancing, st louis principal reductions, st louis refinance, st louis refinancing, st louis refinancing loan
Posted in st louis mortgage news | No Comments »
Tuesday, April 19th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Loan News: Credit Card Rates At All Time High
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate
Current interest rates for credit cards are now hovering near record highs, at an average rate of 14.72 percent.
And if your credit is bad enough, you could even end up with a rate as high as 59.9 percent APR.
That’s because while the CARD Act helped (more…)
Tags: CARD Act, credit cards, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis foreclosures, st louis home loan, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage refinancing, st louis refinance, st louis refinancing
Posted in st louis mortgage news | No Comments »
Monday, April 18th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Loan News: Foreclosures Spread
St Louis Mortgage Refinancing and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate
According to a report released early in 2011 by RealtyTrac, one out of every 9 homes in Las Vegas, Nevada received some kind of default notice in 2010.
But there seems to be a silver lining: The foreclosure rate is actually dropping in Vegas which was down 7 percent compared to the end of 2009 according to the St Louis Refinancing Group news team.
In fact, rates fell in all top 10 foreclosure markets of 2010. In second highest foreclosure market, (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, foreclosure stop, in house financing, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis foreclosures, st louis home loan mortgage, st louis home loans, st louis lending, st louis loan audit, st louis loan modification, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage news, st louis mortgage refinancing, st louis principal reductions, st louis refinance, st louis refinancing, unemployment
Posted in st louis mortgage news | No Comments »
Sunday, April 17th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Mortgage Refinancing News: TARP Watchdog Blasts White House’s Foreclosure Programs
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate
In a quarterly report released to Congress, Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP), said the program has been a success financially, but that programs “designed to help Main Street rather than Wall Street” have been failures.
Barofsky focused part of his criticism on the Home Affordable Modification Program, known as HAMP, which is intended to help eligible homeowners avoid foreclosure by facilitating mortgage modifications with loan servicers according to St Louis finance experts.
When 2010 ended, on December 31st, there were over 500,000 ongoing permanent modifications under (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, HAMP, in house financing, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis foreclosures, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage news, st louis mortgage refinancing, st louis principal reductions, st louis refinance, st louis refinancing, TARP
Posted in st louis mortgage news | No Comments »
Saturday, April 16th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Mortgage Refinancing News: The Housing Crash Part II
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, St Louis Commercial Lending and Loan Modification
Many experts are saying the best evidence that we’re headed for a double-dip recession in housing is the quality of the mortgages during the recent period in which the housing market seemed to improve in many areas.
In the Freddie Mac review of Citigroup’s performing loans, the portion rated as “Not Acceptable Quality” was as high as 32 percent in the fourth quarter of 2009.
While this has obvious implications for (more…)
Tags: consumer finance, consumer lending, customer financing, double dip recession, FHA, financing for customers, housing crash, in house financing, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis foreclosures, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis home mortgage loan, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage refinancing, st louis principal reductions, st louis refinance, st louis refinancing, st louis refinancing loan
Posted in st louis mortgage news | 48 Comments »
Friday, April 15th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Loan Audit News: Home Prices 4.1 Percent Lower In 2010
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate
American home prices were turbulent through 2010 ending up 4.1 percent lower than the year before, according to analytics firm Clear Capital. And prices are expected (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, home prices, in house financing, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis home loan, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage news, st louis mortgage refinancing, st louis refinance, st louis refinancing, st louis refinancing loan
Posted in st louis mortgage news | 1 Comment »
Thursday, April 14th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Lending News: Rural Defaults On The Rise
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate
Seeking to buoy a strained rural economy in the midst of the recession, the then-Democrat dominated Congress ordered up a huge increase in federal mortgage guarantees for small-town home buyers as part of the 2009 economic stimulus package according to several economists including St Louis home loans experts.
A newly released audit has found that the rural home loan program, administered by the United States (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, in house financing, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage refinancing, st louis principal reductions, st louis refinance, st louis refinancing, st louis refinancing loan
Posted in st louis mortgage news | No Comments »
Wednesday, April 13th, 2011
St Louis Mortgage and Real Estate News –
St Louis Mortgage Lending and Loan Reduction News: Judges Berate Lawyers Due To Foreclosure Crisis
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate
Federal judges are looking ever more critically at home foreclosures.
They are accusing lawyers of processing shoddy or even fabricated paperwork in foreclosure actions when representing the banks according to a St Louis mortgage company report.
Judge Arthur M. Schack of New York State Supreme Court in Brooklyn has taken aim at an (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, foreclosure stop, in house financing, lawyers, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis foreclosures, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage company, st louis mortgage lending, st louis mortgage loan, st louis mortgage refinancing, st louis refinance, st louis refinancing, st louis refinancing loan
Posted in st louis mortgage news | No Comments »
Tuesday, April 12th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Home Loan News: Refinance Wave Cooling
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate
Mortgage refinancings through the Home Affordable Refinance Program known as HARP increased 26 percent in the third quarter of 2010.
Strategists for Fannie Mae and Freddie Mac investors, however, say the spike is likely to be short lived and that proved to be the case according to St Louis refinancing loan experts.
Fannie Mae and Freddie Mac loan modifications through HAMP increased 16 percent in the third (more…)
Tags: consumer finance, consumer lending, customer financing, Fannie Mae, financing for customers, HARP, in house financing, principal loan reduction, principal reduction, principal reduction program, st louis commercial financing, St Louis commercial lending, st louis commercial loans, st louis finance, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan modifications, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage loan, st louis mortgage rates, st louis mortgage refinancing, st louis refinance, st louis refinancing
Posted in st louis mortgage news | No Comments »
Monday, April 11th, 2011
St Louis Mortgage and Real Estate News –
St Louis Finance and Mortgage Refinancing News: HAMP Found Lacking, Again
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Consultant
Approximately twelve months ago, the Congressional Oversight Panel found the program HAMP to be struggling to get off the ground despite having been in action for nearly a year and a half.
The latest evaluation of the Home Affordable Modification Program (HAMP) came out and the result was the same deal. HAMP has undergone several tweaks since April 2010.
But the Congressional Oversight Panel, created to issue periodic reports on the TARP bailout program, found little improvement in performance according to a St Louis mortgage broker.
Instead of helping 3 million to (more…)
Tags: consumer finance, consumer lending, customer financing, financing for customers, HAMP, in house financing, negative equity, principal loan reduction, principal reduction, principal reduction program, St Louis commercial lending, st louis commercial loans, st louis commercial mortgage, st louis finance, st louis foreclosures, st louis home loan mortgage, st louis home loans, st louis home mortgage, st louis lending, st louis loan audit, st louis loan modification programs, st louis loan modifications, st louis loan reduction, st louis loans, st louis mortgage, st louis mortgage broker, st louis mortgage lending, st louis mortgage loan, st louis mortgage refinancing, st louis principal reductions, st louis refinance, st louis refinancing, TARP, underwater
Posted in st louis mortgage news | No Comments »
