Random Feed wrote an interesting post today on
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This morning, we discussed Strategic Mortgage Default. This afternoon, let’s look at Strategic Non-Foreclosure.Data via LPS‘ Monthly Mortgage Monitor shows a growing disparity between delinquencies and foreclosure starts. In other words, as more people fall behind on their mortgages, banks are becoming increasingly leery of putting them into foreclosure. LPS calls this “Shadow Foreclosure Inventory” – The number of loans deteriorating further into delinquent status is more than twice the volume

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Random Feed wrote an interesting post today on
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I was recently fortunate enough to have the opportunity to interview Dale Siegel, author of The New Rules for Mortgages . We exchanged emails in a Q&A format on the subject of mortgages, the housing market, etc. Here are her responses to my questions. Lending Guidelines Frugal Dad : Lenders used to operate under a 28/36 mortgage-to-income/debt-to-income ratio when calculating maximum mortgage eligibility. How has the housing bubble affected those ratios for lenders? Dale : Len

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Random Feed wrote an interesting post today on
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With home values flat or even trending downwards in recent months, many Chapter 7 debtors who have been discharged are asking what happens if they stop paying their mortgages and walk away from homes that are worth less than the outstanding mortgage. If you entered into a reaffirmation agreement during your Chapter 7, you remain liable for the mortgage personally and the lender’s continues to have a first priority lien against the property. If you pack your bags and walk away, your default wi

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wrote an interesting post today on
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Click to enlarge Local home price have fallen so far and so fast that they have reach a point where — using my simple math — that the buy-or-rent equation places buying at the best spot in a decade. I loaded my trusty spreadsheet with … Estimated mortgage payments from DataQuick. These number crunchers go in and estimate — based on the terms of mortgages that are public — what each borrower’s initial house payment may be. What I’ll call “Actual rents” at large apartments complexes, pr

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Random Feed wrote an interesting post today on
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Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Louis in Irvine asks: Q. I am a married 74-year-old retiree. I took out a 40-year adjustable-rate loan in 1987. My current interest rate is 5.5%.with a $536 monthly payment. I could pay off the $73,431 left but have chosen to continue the current monthly payments. Is it wise to continue the payments

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