A positive sign: Profits for Fannie Mae, Freddie Mac

Aug 8, 2012
Rising home prices contribute to profits for the bailed-out mortgage lenders. Higher home prices should help the real estate market and homebuyers, too.
Posted In: mortgage, Freddie Mac, Fannie Mae, home prices, Housing

FHFA rejects White House plan for Fannie and Freddie

Aug 1, 2012
A federal housing regulator is rejecting a White House plan to help borrowers who are underwater on their mortgages. That means they owe more than their homes are worth and there are about 11 million people in that category. The Federal Housing Finance Agency said the potential benefits of cutting mortgage balances for those people don't outweigh the costs.
Posted In: mortgage, Housing, underwater

Wells Fargo to cut ties with independent brokers

Jul 13, 2012
After the Justice Department announced a $175 million settlement with Wells Fargo for alleged discrimination against thousands of African American and Hispanic borrowers, the bank looks to cease operations with independent mortgage brokers, whom they blame for the prejudicial lending.
Posted In: Wells Fargo, doj, mortgage, investigation

The co-borrower blues

Jun 11, 2012
I purchased a condo with a good friend approximately 5 years ago. We co-signed the mortgage and have had a great experience co-owning as friends. I recently got engaged and it's time for me (us) to move on. I'm having a difficult time finding an alternative to having my name removed from the co-signed mortgage. What options exist for us? Tom, Minneapolis, MN
Posted In: cosigner, c0-borrower, mortgage, home

Why cash may be king -- for now

Jun 6, 2012
I have $30,000 and want to know where best to put it. Ultimately, I want to put it away for my three boys' futures. I want it to make something, however slowly, without risk. But, 0.4 percent? Is that really the best I can do? Joanna, Hammond, IN
Posted In: mortgage, mortgage refinance, Savings, safe savings, Personal Finance

Savings strategies after locking in a low rate

May 11, 2012
My husband and I just refinanced our house at a great rate (15-year fixed mortgage at 2.875 percent). Our house payment is low and we can afford to pay more each month. Would the best use of our money be to pay down the principal on this low-interest loan or put extra away for retirement or for our children's college fund? We have two young children and are in our late 20s/early 30s. Thanks for your help! Katie, Helena, MT
Posted In: Savings, college savings, mortgage, retirement savings

Mortgage delinquencies down

May 9, 2012
Credit reporting agency TransUnion says the percentage of people behind on their mortgages is down to its lowest level since 2009.
Posted In: Housing, mortgage

The risks of buying with no money down

May 1, 2012
I recently was accepted to grad school, and my wife and I will be moving from Michigan to New Mexico. We are having a debate as to whether we should buy a home. After I finish my degree, I would like the freedom to leave New Mexico, if necessary, without having to worry about selling a home. My wife doesn't like the idea of paying rent and getting nothing back from it. Any and all advice would be much appreciated.
Posted In: home, homeownership, rent, student loans, Graduate school, mortgage

Wells Fargo and JPMorgan report big profits

Apr 13, 2012
The two major banks beat expectations with JPMorgan reporting a $5.4 billion profit last quarter, and Wells Fargo making a $4.2 billion profit. Both said an uptick in mortgage lending helped their bottom lines.
Posted In: Wells Fargo, JPMorgan, Banks, mortgage

The trade-off: Savings vs. mortgage

Apr 3, 2012
When I look at the interest rates on various savings accounts, they are all way lower than the 4.6 percent I'm being charged on my mortgage. I do recognize my condo as providing me with a service, and my minimum payment now is actually less than the rent I was paying on a studio 4 years ago! But, if I think of the equity I gain as a sort of savings account for a future upgrade, I'm just not sure how to compare my options. The simplified thought process I currently go through is that any extra I pay on my mortgage saves me 4.6 percent in interest that I would have to pay, while that same money would only earn me maybe 2 percent in a savings account, so it is better to save 4.6 percent by never having to pay it. Am I totally off? Erin, Boston, MA
Posted In: Savings, mortgage, condo