Sentences with phrase «underwater on mortgage loans»

Those states have high percentages of people underwater on mortgage loans, owing more than their homes are valued at.

Strategic defaults are likely to continue as more people become fed up with being underwater on their mortgage loans.

Zillow recently reported that 27 percent of U.S. homeowners are underwater on mortgage loans.

But even if you are underwater on a mortgage loan that doesn't mean you have to give up the idea of selling.

If you are underwater on your mortgage loan — meaning that you owe more on your home loan than what your residence is worth — lowering the sales price can complicate matters.

Not exact matches

We need serious loan modification for underwater and distressed mortgages on primary residences.

PMI protects lenders against the risk that the value of the home will fall below the outstanding principal balance on the mortgage, leaving the borrower «underwater» on the loan.

My salary is $ 73k, I have virtually credit card debt, no car payment, $ 3,000 in savings, a fixed - rate mortgage on a townhome near Seattle that is underwater like everyone else's, and a student loan payment for my Masters degree.

Their current home loan is «underwater» (their home is worth less than the amount they owe on their mortgage).

The updated basics are that the loan to value cap has been lifted, certain fees in certain situations have been removed and for borrowers who have loans owned by Fannie or Freddie and who have not been delinquent more than 1 x 30 days in the past twelve months (0 x 30 in the most recent six months) they may find refinancing available to them even if they are underwater on their mortgage to equity ratio.

Evidently, my accumulation of stuff over the years (including lease cars, an underwater mortgage, student loans and a HELOC) was a negative drain on my net worth figure.

Despite rising home prices in many cities, more than one - fifth of U.S. homeowners are still underwater on their mortgages — that is, they owe more on their loans than their homes are worth.

About a quarter of all homeowners were underwater on home loans at the beginning of 2011, making them ineligible for refinancing with most mortgage lenders.

The plan is being offered to home owners who are considerably underwater on their mortgage (meaning they owe significantly more than their homes are actually worth), and whose loan is under consideration for modification through the government's Home Affordable Modification Program (HAMP).

«Our tests have shown that many homeowners who are severely underwater on their mortgages will respond positively to a modification offer that includes reduction of their principal balance, increasing the rates of acceptance of HAMP trial modification offers, conversion to permanent modifications and long - term success of the homeowner,» said Jack Schakett, credit loss mitigation executive for Bank of America Home Loans.

This handy FHA program makes it easier to refinance your home loan even if you have credit problems and are underwater on your mortgage.

Underwater homes, where the owners own more on the mortgage loan than the home is currently worth, have been a thorny issue, preventing many people from refinancing to today's low mortgage rates, or from selling their homes.

A recent FICO data analysis found more than six million U.S. homeowners have a current - loan - to - value ratio of 120 or higher, meaning they are at least 20 percent underwater on their mortgages.

Others stay current on their mortgages even when their home loans seem to be irretrievably underwater.

Is there some legal issue with being underwater on a mortgage that would make this scarier than other types of loans?

Mortgage loans are considered underwater when homeowners owe more on them than what their homes are worth.

For instance, a homeowner with a single - family home valued at $ 200,000 is underwater if that owner still owes $ 250,000 on her mortgage loan.

She said the company «has found that many homeowners who owe considerably more on their mortgages than their homes are worth [i.e., underwater] are reluctant to accept a solution... without an accompanying reduction in the balance due on the loan.»

Consider that the average indebted household carries over $ 15,000 in credit card debt alone, not to mention medical debt, personal loans, second mortgages on underwater homes, and other types of unsecured debt.

This may be a good option for homeowners who are underwater on their mortgages because the loan will be based on the original purchase price regardless of what the home is actually worth when the homeowner refinances.

One set of actions was aimed at encouraging lenders to rework payments and other terms on troubled mortgages or to refinance «underwater» mortgages (loans exceeding the market value of homes) rather than aggressively seek foreclosure.

Being upside - down or underwater on a mortgage refers to the situation of owing more money on your loan than your home is worth.

The latest loan term for these types of homeowners is «underwater mortgage», because the balance on the mortgage is greater than the home's value, thus the term, «underwater.»

Definition: An underwater homeowner is somebody who owes more on their mortgage loan than the home is currently worth.

Municipalities across the country have seized on a novel approach to help resolve the current underwater mortgage crisis: using their power of eminent domain to seize mortgage loans from private investors through condemnation.

On top of that, home values have taken a beating, and many homeowners now find themselves underwater on their home loans, meaning the mortgage outweighs the current value of the real estatOn top of that, home values have taken a beating, and many homeowners now find themselves underwater on their home loans, meaning the mortgage outweighs the current value of the real estaton their home loans, meaning the mortgage outweighs the current value of the real estate.

Poethig continued, «But with so many homeowners still underwater on their mortgages and struggling to move into more sustainable loans, we have much more work ahead.

Many existing Florida homeowners possess underwater mortgages and have struggled to stay current on loan payments.

Owing more money on your mortgage loan than your home is worth — commonly referred to as being «underwater» on a home mortgage — can seem hopeless.

The study also found 31.8 percent of all single - family, detached homes with mortgages in the Chicago area were underwater at the end of March, meaning the homeowners owed more on the loans than the properties were worth.

Ryan mentions that Facebook founder Mark Zuckerberg may have purchased a home in California; Ryan reviews the economic events of the prior week; Ryan notes that interest rate are still heading down; Ryan notes that the DC real estate market is competitive on the buy and rent sides and that would be renters in the DC area are turning into would be buyers; Louis notes that the DC housing dynamic is different from the rest of the country where housing prices are down and there is plenty of inventory; Louis notes that if it is cheaper to buy than rent that it makes sense to get a long term low interest rate loan; Louis talks about the benefits of visiting HomeGain.com; Louis discusses the HomeGain FSBO vs. Realtor survey and the advantages of hiring a REALTOR; Louis and Ryan discuss the HomeGain home improvement survey and recount the types of home improvements that provide the best return on investment; Ryan and Louis talk about pricing strategies for selling a home; Louis and Ryan discuss the differences between pricing a short sale and pricing a non short sale home; Louis notes pricing a home too high may keep the home on the market a long time and that the more days a home is on the market makes a home look like damaged good; Ryan describes short sales as foreclosure avoidance and discusses the impact of each on FICO scores; Ryan talks about the options that people with underwater mortgages have; Louis mentions that 72 % of home buyers and sellers pick the first real estate agent they meet and points out the value in comparing agents first using HomeGain's Find a REALTOR program; Louis can Ryan discuss the level of shadow inventory the impact on sellers as more inventory gets released;