Posts Tagged ‘underwater’

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St Louis Mortgage Experts Say Millions Refused Needed Refinancing

Tuesday, December 6th, 2011


St Louis Mortgage and Real Estate News -

St. Louis Home Loan and In-House Financing News: Millions Shut Out of Refinancing
St Louis Home Mortgage, Customer Financing and Consumer Lending | Principal Reduction Program | 314-334-0210 | St Louis Commercial Mortgage, Consumer Financing and Principal Loan Reduction


According to a new Federal Reserve studay that was released in September 2011, approximately 2.4 million homeowners could have refinanced their home loan mortgages last year if they hadn’t owed more than their homes were worth or if lending (more…)

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St Louis Loan: Underwater Mortgages Technically Down

Sunday, June 5th, 2011

Commercial Lending and Commercial Lenders 877-334-0210


St Louis Mortgage and Real Estate News -

St Louis Mortgage Lending and Loan Modification News: More Foreclosures Means Fewer Underwater Mortgages, Right?
St Louis Home Mortgage and Consumer Lending | Principal Reduction Program | 314-334-0210 | St Louis Commercial Mortgage, Consumer Finance and Principal Loan Reduction


There were fewer homeowners underwater on their mortgage at the end of the third quarter than the second quarter in 2010. But the reason is probably not what you are thinking. It’s because more properties that had severe (more…)

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St Louis Refinancing and Loan: Home Values Falling

Friday, May 27th, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Broker and Consumer Lending News: Home Values Fall Again
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, St Louis Commercial Lending, Customer Financing and Loan Reduction


Real estate data firm Zillow said its home value index fell 3 percent in the first three months of the year from the previous quarter, and was down (more…)

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St Louis Home Mortgage Lending: Underwater Means Drowning In Debt

Thursday, May 26th, 2011


St Louis Mortgage and Real Estate News –

St Louis Loan, Mortgage Refinancing and Consumer Lending News: Drowning In Negative Equity
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending, Loan Reduction and Customer Financing


If you have no desire or need to sell your home, then falling home prices are just on paper and likely temporary, right? Depends on how you look at it. 

Falling home prices put more borrowers in a negative equity position, that is owing more on their mortgage(s) than their homes are worth.

We call that ‘underwater,’ and for good reason, because for some borrowers that sense of drowning (more…)

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St Louis Home Loan: Loan Modification Options Coming

Wednesday, May 4th, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Lending News: More Loan Modification Options Coming
St Louis Home Mortgage and Commercial Loans | Commercial Loan Modification | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction


Six months after the Federal Housing Administration (FHA) announced an $11 billion refinancing initiative for these “underwater” borrowers, nearly two dozen lenders have agreed to take part in a new loan modification program.

The FHA program called Short Refi requires major concessions from lenders, which must agree to (more…)

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Principal Loan Reduction: Housing Programs Hurt Economy

Tuesday, May 3rd, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Loan Reduction News: Greenspan Says Stimulus and Housing Programs Hurt Recovery
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


Former Federal Reserve Chairman Alan Greenspan said in February that massive government intervention to save the economy is to blame for the lagging recovery.

Greenspan argued for less government intervention to get the recovery rolling and businesses (more…)

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St Louis Refinancing Loan: Foreclosures And Short Sales Push Market

Monday, May 2nd, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Loan Reduction News: 26 Percent Of Home Sales Are Foreclosures And Short Sales
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Consultant


According to a RealtyTrac report released yesterday, 26 percent of all homes sold last year were foreclosures and short sales.

Homes already foreclosed on and repossessed by banks, called REOs (real estate owned), sold for an average of 36 percent less than normal sales, RealtyTrac reported.

Meanwhile, the discount for homes sold while they were still in the foreclosure process (short sales) was 15 percent as followed by the St Louis Refinancing Group news team.

“It’s like the post-holiday sales at (more…)

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St Louis Mortgage Broker: HAMP Still Struggling

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…)

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St Louis Home Loans: Strategic Default Risk Increases

Friday, April 8th, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Loan Reduction News: Strategic Default Risk May Increase
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Mortgage Loan Modification

The 2011 housing market started off to a bleak pace.

Home prices were expected to drop another 20 percent before hitting bottom, according to economists at A. Gary Shilling & Company, raising the risk that approximately 39.7 percent of borrowers will simply walk away from their home in a strategic default.

The firm reported in its December Investment Insight that home prices are already 29 percent below their peak in the first quarter of 2006 and fell 2 percent between (more…)

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St Louis Home Loans: Home Values Down

Saturday, March 26th, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Loan Reduction News: Home Values Fall $9 Trillion Since 2006
Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia


The U.S. housing market has taken a hard hit value wise. American homes were worth about $1.7 trillion less in 2010 than they were worth in 2009, according to a report released by real estate website Zillow.

Last year’s drop in home values is 63 percent larger than the $1 trillion dip in 2009, and brings the total (more…)

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