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My Recent Comments
I think its true. Fuel prices really affects the life of every citizen. Underwater mortgages became commonplace in the aftermath of the 2000s housing bubble burst, and, combined with a bad economy, resulted in numerous foreclosures. In nonrecourse states, where mortgage lenders can't pursue borrowers for more money once their homes have foreclosed, many borrowers who could still afford their mortgage and other bill payments strategically defaulted on their underwater mortgages because they believed they were cutting the losses from a bad investment.Mar 16, 2012
The 5 biggest home loan lenders just settled with the government over the “robo signing” affair. A select number of people will get their home loan principles lowered. However, individuals who have mortgages owned by Freddie Mac or Fannie Mae, the bulk of homeowners, that are underwater are still left twisting in the wind. Underwater Freddie or Fannie backed mortgage owners left to drown. Its alarming that many homeowners whose homes are underwater or in other words owe more than the home is worth, which is called negative equity, aren’t thrilled about the exclusivity of the principal reductions. Fannie and Freddie currently own roughly half of all mortgages currently held in the nation.Mar 16, 2012