Category Archives: Debt

Supreme Court Ruling Says Second Mortgages Cannot Be Voided in Bankruptcy

The Supreme Court of the United States ruled on Monday, June 1st 2015, that homeowners who cannot repay their debt and file for bankruptcy in order to receive protection cannot have their second mortgage loan canceled even if they are

The Mortgage Delinquency Rate Fell in March

On a month-over-month basis, the mortgage delinquency rate in the United States dropped by 12% in March, according to the First Look report of Black Knight Financial Services. This was the largest monthly decrease since 2006. On a year-over-year basis,

Boom in Refinancing As Mortgage Rates Fall

The applications for mortgage refinance continue to climb amidst plunging rates. The Refinance Index compiled by the Mortgage Bankers Association rose by 22% in the week ended January 16th compared to the previous week. In the week ended January 9th,

Higher Mortgage Default Rates in December

The default rate on first mortgage loans rose to 1.02% in December 2014 from 0.97% in November. This is revealed in the latest report on Consumer Credit Default Indices conducted by S&P and Experian. In December, the first-mortgage default rate

Mortgage Shopping Not Practiced by Nearly Half of Borrowers

The share of borrowers reporting that they have considered only one lender for their mortgage loan is 47%. This is revealed in the National Survey of Mortgage Borrowers conducted by the Consumer Financial Protection Bureau (CFPB) among borrowers who purchased

Lenders Concerned about Mortgage Demand in 2015

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Mortgage lenders cite weaker consumer demand as the main driving force behind their 2015 outlook for decreased profit margin and report tighter credit standards. This was revealed in the fourth quarter Mortgage Lenders Sentiment Survey conducted by Fannie Mae in

Increase in Mortgage Borrowers Undergoing Foreclosure In October

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Foreclosure filings, which include mortgage default notices, scheduled foreclosure auctions and bank repossessions, rose by 15% in October from September of this year. This is revealed in the Foreclosure Market Report for October compiled by RealtyTrack. The increase of 15%

Mortgage Applications Increase Once Again

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There was an increase in the mortgage applications of 3.8% on a seasonally adjusted basis in the week ending October 3rd compared to the previous week, according to the weekly survey of the Mortgage Bankers Association. The was the first

Mortgage Loan Age Higher Than Ever

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The average age of an outstanding mortgage loan in 2014 is 54 months, according to the Mortgage Monitor report of Black Night for August. The report states that this is the highest outstanding mortgage age to date. The mortgage loans

How To Remove PMI From Your Mortgage

Are you curious how to remove pmi from your mortgage? PMI or Private Mortgage Insurance is simply a insurance policy that a borrower is required to pay in premiums that protect the lender in case of default. If you are

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