You fell behind on your mortgage payments and lost your home to foreclosure.That's the end of this financial nightmare, right? Not quite: Something called a deficiency judgment could come back and haunt you.
Small lenders are complaining about the new qualified mortgage (QM) rules that took effect last week, saying they put an undue burden on them and limit their ability to offer certain types of mortgages their customers demand.
New mortgage rules taking effect next month won't change anything on homeowner's current mortgages and it won't prevent borrowers from taking out home loans with debt-to-income ratios above 43 percent, despite widespread claims to the contrary.
Housing and mortgage industry trade groups are banding together to press the Federal Housing Finance Agency (FHFA) to hold off on its plans to reduce the size of mortgages that can be approved by Fannie Mae and Freddie Mac.
Older Americans have the AARP to advocate on their behalf.Now, a group of housing industry veterans has launched a similar organization with the stated goal of looking out for the interests of homeowners.
Yesterday's Senate confirmation of Richard Cordray as the undisputed head of the Consumer Financial Protection Bureau (CFPB) not only solidifies his status, but that of the bureau itself and the actions it has taken over the past two years.
The Obama administration is working to boost mortgage lending to borrowers with less-than-perfect credit, using a coordinated effort among federal agencies and lenders, the Washington Post is reporting.
A group of state attorneys general are calling for the replacement of Federal Housing Finance Agency head Edward DeMarco, saying his refusal to allow mortgage principle reductions is unduly prolonging the foreclosure crisis.