Items Tagged with 'Second mortgage'

RSS

Detroit’s market is stuck in a cycle, however a new mortgage program is set to break the cycle. Will this new program allow prospective buyers to receive another mortgage?

In an interesting turn of events, a Bank of America case to decide whether homeowners can erase underwater second mortgages through bankruptcy quickly changed its course, turning into a debate over whether the U.S. Supreme Court should overturn the precedent that raised the issue in the first place.

The nation’s highest court is taking on the burning issue of underwater mortgages, agreeing Monday to hear not one but two mortgage cases brought by Bank of America, which is appealing lower court decisions.

Consumer default rates are now stabilizing at levels similar to those seen before the financial crisis, as all five national indices witnessed a drop-off for the month of February.