(Seagrove beach florida condos) Mortgage industry job cuts surpass 40,000
Mortgage industry job cuts surpass 40,000
Since the start of the year, more than 40,000 workers have lost their jobs at mortgage lending institutions, as companies respond to the deep downturn in the housing market. Meanwhile, construction companies have announced nearly 20,000 job cuts this year.
Foreclosures mount, D.C. debates answer
Fresh data showing a continuing rise in home foreclosures renewed debate in Washington over whether the government has responded adequately to the meltdown of the mortgage market and the resulting turmoil in the financial markets. By MSNBC.com’s John W. Schoen.
Mortgages rates fall to lowest point since May
Rates on 30-year mortgages sank this week to their lowest point since late May, providing a little ray of sunlight for would-be home buyers.
Mortgage applications fall in latest week
Applications for residential mortgages fell last week for the first time in three weeks, weighed by a sharp drop in demand for home-purchase and refinancing loans, an industry group said on Wednesday.
On the other hand, adjustable rate mortgages are very unpredictable in nature.
Since a mortgage lender cannot trust a person with a bad credit rating, bad credit mortgage generally requires you to put forth collateral.
Video: Some mortgage borrowers getting desperate
Aug. 9: Growing problems in the housing and mortgage markets are putting pressure on borrowers who are trying to sell before losing their homes. Some are even walking away from mortgages. NBC’s Josh Mankiewicz reports.(Nightly News)
Countrywides CEO sees housing-led recession
Calling the current credit crunch one of the greatest panics I’ve ever seen in 55 years of financial services, Countrywide Financial CEO Angelo Mozilo said Thursday that the ongoing housing slump will likely push the U.S. economy into recession.
Always insist that the realtor you choose to work with writes into your agency agreement or Exclusive Right to Buy Contract, “That the Buyer hereby reserves the right to cancel this agreement FREE of charge at any time if Buyer is dissatisfied with Broker’s performance” This add both creditability and accountability to your business relationship.
Countrywide taps $11.5 billion credit line
Countrywide Financial Corp., the nations largest mortgage lender, said Thursday it had borrowed $11.5 billion from a group of 40 banks to fund loans in a move that shows just how deep the lending crisis has become.
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