Archive for July, 2011

CFPB: Credit scores cloudy with a good chance of confusion

The credit score you buy may not be the credit score your lender uses when you apply for credit. Shut the door! And the practice can cost you some serious cash. One of the first reports out of the new [...]

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MARS shines on short selling homeowners

Homeowners facing foreclosure could enjoy greater access to short sales and less confusion about the foreclosure alternative, thanks to new federal regulatory relief for real estate brokers and

Consumer watchdog opens amid efforts to defang the new agency

Born of the massive Dodd-Frank Wall Street Reform Act, signed into law a year ago, the Consumer Financial Protection Bureau (CFPB) officially opened last week, it's plate full

Californian homeowners get short sale relief

California lenders who agree to a short sale must accept the agreed upon short sale payment as payment in full for the outstanding balance of all loans, including

Voters united over homeownership

The message American voters recently sent to legislators in Washington D.C. is pretty clear: "Don't make home ownership any more difficult than it already is." Voters who are homeowners

Applying for a mortgage? Here’s what the lender wants

Landing a mortgage in today's tight credit market can be as tough as trying to find a job in today's economy. That's no joke. One in five home buyers

Reduced conforming loan limit to hit Monterey County hardest

 If you plan to buy a California home that will require a big mortgage, move fast -- if you aren't already too late. Barring Congressional action, Monterey County will

EHLP helps employment-challenged homeowners

More struggling homeowners are getting a small slice of the federal bailout pie, served up as a special no-interest loan of up to $50,000. For many homeowners, loans from

Toxic loans exacerbated economic crash

Lenders knowingly tossed aside ethics and responsibility to steer consumers to mortgages they couldn't afford and then repackaged those loans as securities sold without disclosing the risk to

robosigning

More banks spanked for foreclosure failures

Remember that bank-spanking federal agencies doled out to eight mortgage servicers for fouling foreclosures with robo-signing shenanigans, dual tracking tricks and other foreclosure head-fakes? All national banks are going

Homeowner associations’ special disaster preparedness needs

If you live in a condo, townhome or other community governed by homeowners association (HOA), take a lesson from Judy Rosen who lives in a 70-unit HOA in

News from a fly on the wall during home improvements

It's one thing to have a home inspected, it's another to have a fly on the wall during improvements. A good building inspector can give the house a good

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