Category Archives: Mortgages

Philly man forecloses on Wells Fargo

Posted on February 17, 2011 by Liz

In an an ironic twist, Patrick Rodgers, an independent music promoter in Philadelphia, has won a judgement against his lender, Wells Fargo. Rodgers, who was current on his 7 year old mortgage on a home he purchased for $180,000, was … Continue reading →

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Will GSE reforms lead to lower home prices?

Posted on February 15, 2011 by xdnus

Last week we posted on proposed reforms at Fannie Mae and Freddie Mac. This week Michael Kraus over at TotalMortgage.com has posted this thoughtful and balanced analysis of the potential impact of the reform. Michael contends that Fannie and Freddie’s … Continue reading →

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Mortgage rates top 5%

Posted on February 11, 2011 by xdnus

According to Freddie Mac’s Primary Mortgage Market Survey, the national average interest rate for a 30 year, fixed -rate mortgage surpassed 5% for the first time since April 2010. Rates are averaging 5.05% this week and non GSE backed loans … Continue reading →

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New proposals for Fannie and Freddie

Posted on February 10, 2011 by xdnus

A white house official has announced that the Obama administration plans to release a proposal on Friday to eliminate Fannie Mae and Freddie Mac. According to our sources, the proposal will put forward three separate options for scaling back the US governments … Continue reading →

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