Almost as soon as my mortgage was recorded in the public record, I started getting a delightful new breed of junk mail delivered to my home: Mortgage junk. These particularly sleazy companies employ a number of really shady practices in thier mailings, including: Putting the name of my mortgage broker on the envelope Misleading phrases…
Tag: loans
Washington Banks Hit With More Bad Loans
Kirsten Grind had an interesting piece about local banks in the Puget Sound Business Journal last Friday: Bad loans rising at Washington banks Bad loans are up dramatically at Washington state banks, surpassing the national average and reaching levels that local banking experts say are unprecedented. … Washington banks historically have seen lower levels of…
Highlights of the FHFA Streamlined Modification Program
Here are the basics of the latest mortgage bailout initiative from Fannie Mae and Freddie Mac that was announced today by the Federal Housing Finance Agency. To qualify, borrowers must: Have a loan owned or guaranteed by Fannie or Freddie. Owe 90% or more than the home is worth. Be 90 days or more behind…