Refinance Home Mortgage - State moves to ease crisis
State moves to ease crisis
Detroit News - The bills would allow the state to assist homeowners refinance adjustable-rate the state’s Office of Financial and Insurance Services, which polices the mortgage Apply to homeowners with a household income under $72,500, and a home purchase
How home loan boom went bust
Detroit News - Homeowners were able to get home improvement loans and loans to move to better neighborhoods. As prices rose, many took out loans turning that equity into cash. Those making the loans were making $2,000 to $10,000 on every mortgage and refinance. It
FDIC’s Sheila Bair: Her Response To Me On Loan Modifications
CNBC - were led to believe that they would be able to refinance before the payment shock occurred. While modifying these loans will keep the borrowers in their homes, it will also protect home well above prime rates for a typical 30 year fixed mortgage
Fraud deepens Michigan housing crisis
Detroit News - I was working in the yard and a man came up and said he could help me save my house,” says Dorothy Walker, who had fallen behind on the mortgage. Without realizing she was signing a quitclaim deed and not a refinance, she lost her Detroit home and
Equity skimming plagues region
Detroit News - While mortgage fraud is rampant in Metro Detroit, prosecutions are rare. Here’s how equity skimming typically works: Homeowners are approached with offers to refinance their home. Buried among the documents would be a document signing over