Jul 8th 2010 10:30AM
Getting a subprime, or non-conforming mortgage, just got a lot harder. Wells Fargo, the third-largest bank in the U.S., announced it is closing a division devoted to issuing what they call "non-prime" mortgages, car loans, and credit-card loans. The bank will no longer issue subprime loans and is eliminating 3,800 related... Continue Reading »
May 11th 2010 11:00AM
Gone are the days when homeowners "cashed out" on the equity of their homes through refinancing, and used the money to pay off other bills, renovate a kitchen, or jet to Bora Bora. Stringent, post-housing-boom lending policies mean a gain in popularity for the complete opposite of the cash-out refi -- the cash-in... Continue Reading »
Apr 26th 2010 12:30PM
For several months, pundits and economists have warned that demand for housing and housing prices would fall steadily for the first six months of this year, after the end of a brief recovery last year. Well, it hasn't happened yet. In fact, the latest stack of housing reports for March shows the opposite -- a... Continue Reading »
