Jumbo Mortgage Market Beginning to Thaw (RISMedia Real Estate News)
12 Mar 2010 at 9:14pm
RISMEDIA, March 13, 2010?(MCT)?Phil Kelly had 18 more months to go before the fixed rate on his $2.5 million mortgage became adjustable. But when Kelly, a former computer executive living in Rancho Santa Fe, California learned he could knock his interest?
Realty Q&A: Walking away from property isn?t always so easy (Market Watch)
12 Mar 2010 at 8:26am
California is one of a dozen states where lenders are prohibited by law from filing deficiency judgments against borrowers to collect the difference between was what owed and what was collected when the asset was sold. But in other states, lenders can pursue people who walk away from their homes.
Lenders pursue mortgage payoffs long after homeowners default (Seattle Times)
5 Mar 2010 at 10:11pm
When John King stopped making payments on his home in Coral Gables, Fla., two years ago, he assumed the foreclosure ended his mortgage contract, he said. In December, a Miami-Dade County court gave collectors permission to pursue him for $44,000 stemming from the default.
FIRST OF TWO PARTS: Owners walk from homes, values erode (Detroit Free Press)
7 Mar 2010 at 2:11pm
Sondra Malone, 35, bought a house in Eastpointe in 2005 with an adjustable-rate mortgage. The $1,200-a-month payment on the house, along with high heating bills, an expensive SUV payment and other family expenses, quickly buried her in debt.
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