by John TayebMay 6, 2010
Foreclosures
Mortgage applications to purchase homes rose 13 percent last week over the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.
This was the third consecutive week applications to purchase homes have increased, rising 24 percent compared to March. On an unadjusted basis, purchase applications increased 14.1 percent compared with [...]
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by John TayebApril 19, 2010
Foreclosures
Lenders are selling second mortgages and home-equity lines in default to collection agencies that have the right to collect this money potentially for decades.
“It’s a big business, and investors are coming out of the woodwork,” says Sylvia Alayon, a vice president for Consumer Mortgage Audit Center, which analyzes mortgage documents for lenders, advocacy groups, and [...]
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