Lee Farkas could get life for a 3 billion dollar fraud

Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage Corp., was found guilty on all 14 charges stemming from a seven-year, multibillion-dollar fraud scheme that led to the collapse of his firm and Colonial Bank. Farkas may be sentenced to life in prison. Farkas transformed the Ocala, Fla.-based mortgage company into the largest [...]

Foreclosure delays could hold off housing rebound

Foreclosure delays could hold off housing rebound
Foreclosure delays are likely to bring reprieves to 1 million financially troubled homeowners this year, but they threaten to further postpone the U.S. housing market’s recovery, a report out today shows.
Read more on The Burlington Free Press

Mortgage tax break could fall victim to deficit

Mortgage tax break could fall victim to deficit
WASHINGTON — Fifteen years ago, Carol Nietmann and her husband bought a spacious house in Maryland near Chesapeake Bay. And thanks to the time-honored tax deduction for mortgage interest, she said, their new place was a little bigger and a little…
Read more on Portsmouth Herald

Mortgage exit fee win could hurt

Mortgage exit fee win could hurt
BORROWERS could face fewer choices and higher interest rates as banks start scrapping exit fees.
Read more on News.com.au

Around Half Of The 20 Million Loan Insurance And Mortgage Insurance Policies In The UK Could Have Been Mis-sold

There are around 20 million loan insurance and mortgage insurance policies in the UK and it is thought that around half of these could have been mis-sold. The mis-selling scandal came to the public’s attention in 2005 when it both the Office of Fair Trading and the Financial Services Authority started investigations in to the [...]

How Could An Fha Reverse Mortgage Affect Retirement?

A FHA reverse mortgages are available to homeowners who are at least 62 years of age and who own the home in which they live. This financial product can help seniors who do not have sufficient income to meet their monthly needs, but do have equity in their home. The FHA reverse mortgage works by [...]

Mortgage Insurance Could Give You The Income You Need To Keep Your Home

If you were to lose your income by coming out of work after suffering from an accident, prolonged illness or through unemployment then you could be left with a serious struggle on your hands to find the money to continue meeting your mortgage repayments. Providing that it would be suitable for your circumstances then mortgage [...]

Lender could end up paying if all fees were not revealed at buyer’s closing

Lender could end up paying if all fees were not revealed at buyer’s closing
Q: My wife and I purchased a house in Florida last April. This past weekend we received a letter and an invoice from the law office that acted as the parties’ closing agent, informing us that we owed fees for “additional endorsements [...]

Reverse Mortgages Could Supply Liquid Cash in Time of Need

We all would ideally like to keep aside a substantial fund to see us through bad days. However life cannot be predicted and a sudden circumstance may arise where the fund proves to be insufficient to meet our needs. Till the time we are employed and earning our own money, we need not worry about [...]

Cheap Mortgage Insurance Could Save Your Home From Repossession

With the amount of individuals coming out of work through no fault of their own and having to have a month or longer from work without an income some thought should be given to mortgage payment protection insurance (MPPI). If you find you cannot continue servicing your mortgage repayments if you become unemployed, then you [...]

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