Spanish bank fees vary but are typically around 1% of the mortgage amount. They also charge around €500 for the mortgage valuation; stamp duty of 1.8% of the mortgage amount; and notary and registration fees of around 0.5% of the...

Bank of England interest rates affect the mortgage, loan and savings rates for millions of people.

Karen McDonough of Quincy, Mass., was enjoying her tea one morning in the dining room when she saw something odd outside her window: a group of people gathering on her lawn. A man with a clipboard told her that her home no longer belonged to her. It didn't matter that she'd been paying her mortgage for 17 years and was current on it. She was a nurse with a good job and had raised her kids there. But this was a foreclosure sale, and she was going to lose her house.

McDonough had fallen victim to what's called a zombie second mortgage. Homeowners think these loans are long dead. But then the loans come back to life because they get bought up, sometimes for pennies on the dollar, by debt collectors that then move to collect and foreclose on people's homes.

On today's episode: An NPR investigation reveals the practice to be widespread. Also, what are zombie mortgages? Is all this legal? And is there any way for homeowners to fight the zombies?

You can read more about zombie second mortgages online at: npr.org/zombie

Correction: An earlier version of this episode description misspelled Karen McDonough's last name as MacDonough.

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Mortgage rates are at their highest levels in 22 years and house prices are at record highs. Hardworking people cannot get on the property ladder, and retirees are struggling to sell in order to downsize. The Biden administration has done little to help alleviate the problem. This Washington Examiner series, Home Economics, will investigate how we got here, the toll on people around the country, and the alternatives people are embracing to survive the market. The last part of this four-part series focuses on the alternatives to traditional fixed-rate mortgages gaining new consideration among prospective home buyers.

Fannie Mae, Freddie Mac, the Federal Housing Finance Agency and the Obama administration over the past year have tried mightily to expand mortgage access for riskier borrowers, but there's little evidence so far of borrowers with weaker credit making a strong return.

It’s a commonly quoted statistic that nearly half of American families have no retirement savings. For many people facing retirement, their homes may be the only asset they have to help fund their post career living expenses. Over the last few years there have been a lot of stories about reverse mortgages where retirees sell […]

The post Reverse Mortgages for Retirees – Boon or Bane? appeared first on RSS News Feed.

Contents Homebuying experience easier. People chase Interest rates. pay Earning high income The main advantage of paying a mortgage on an interest-only basis is that your monthly payments will be much cheaper. Let’s say you borrow 200,000 on an interest-only basis, over 25 years, at an interest rate of 3%.…

Business was humming for Airbnb host Josep Navas Masip in Philadelphia. So he purchased a second home and planned to renovate it and add it to his Airbnb offerings. "In the middle of the renovation, the coronavirus crisis hit," he said. "I had to cancel my renovations, and I had to tell the contractor to stop working." Navas Masip, 44, was bringing in about $2,000 a month from the two rooms he was renting from his South Philadelphia home. Betting that he could double his earnings with a second home, he quit his job as a Spanish language professor to pursue another graduate degree in education and e-learning. His plan was to lean on his Airbnb income during that time. Now with no guests for the foreseeable future, Navas Masip knows he has to rip up that plan, but he doesn't quite know what to do. He is still pursuing the graduate work online, but when it comes to making money, he said he's feeling increasingly desperate. Navas Masip now wonders whether he should rent out the house he

Josep Navas Masip purchased a second home in Philadelphia and was renovating it for use as an Airbnb when the coronavirus crisis hit. Now his plans are canceled and he's unsure what to do for income.

MORE banks are now offering mortgages specifically designed for older borrowers and retirees, figures reveal. Lenders are clamouring to launch new products and change existing terms to meet an ageing population.

British people hoping to move house during the recession have a new money lender to turn to: the Bank of China.

Subprime mortgages have been linked to a meltdown in housing and questionable Wall Street practices, and they may have been the original domino that set off America's current economic crisis.

The Land Registry is changing its practice on the discharge of mortgages in cases where form DS1 is not available when the application is made to the Land Registry. On 3 August 2009, the Land Registry will implement an important change in practice ...

Capmark Finance LLC in Horsham, Pa., has agreed to pay the United States $3.9 million, to settle a False Claims Act lawsuit, the Justice Department announced today.

The Justice Department, along with federal and state partners, today announced a $13 billion settlement with JPMorgan - the largest settlement with a single entity in American history - to resolve federal and state civil claims arising out of the packaging, marketing, sale and issuance of residential mortgage-backed securities (RMBS) by JPMorgan, Bear Stearns and Washington Mutual prior to Jan. 1, 2009. As part of the settlement, JPMorgan acknowledged it made serious misrepresentations to the public - including the investing public - about numerous RMBS transactions. The resolution also requires JPMorgan to provide much needed relief to underwater homeowners and potential homebuyers, including those in distressed areas of the country. The settlement does not absolve JPMorgan or its employees from facing any possible criminal charges.

The Justice Department, along with federal and state partners, today announced a $7 billion settlement with Citigroup Inc. to resolve federal and state civil claims related to Citigroup’s conduct in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) prior to Jan. 1, 2009

The owner of a Florida mortgage company, seven employees of the company and two real estate developers were indicted in the Southern District of Florida in connection with an alleged $50 million mortgage fraud scheme.

Many households approach retirement age with inadequate financial resources, but substantial equity in their residence along with a preference to remain in their homes. For these households, retirement planning presents the challenge of deciding between staying in their home or having sufficient income. In theory, reverse mortgages offer a solution whereby older homeowners can “age…

Abstract With the gradual disappearance of private-sector pensions and gradually increasing life expectancy, Americans must increasingly take responsibility for managing their own retirement. Many older households end their working years with limited financial resources, but have accumulated substantial equity in their homes—making home equity a potential source of retirement income. Reverse mortgages offer one avenue…

Housing wealth is a largely untapped resource that can help older adults supplement their incomes and buffer financial shocks in retirement. According to the 2016 Survey of Consumer Finances, more than 6 million homeowners age 62 and older in the U.S. have less than $10,000 in non-housing financial wealth but have at least $20,000 in…

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Do you want to find out how to do the splits on your mortgage? FT Money Show presenter Claer Barrett is not talking about stretching yourself, but instead, how thousands of borrowers are finding their mortgage lender is flexible enough to give them more than one type of mortgage. Next up, nearly a million people reported scam calls, texts or emails from criminals posing as UK tax authority HMRC last year - we tell you how to protect yourself. And finally, despite the rising cost of childcare, statistics show a million parents are not claiming for the tax free childcare they are entitled to - are you one of them?

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Mortgage products tracking base rate vanish as ‘the numbers no longer stack up’ 

Fixed rate that applies in years three to five has been cut

There are 18 providers offering 74 deals - up from just 36 this time last year. The average interest rate charged has fallen slightly from 3.5 per cent to 3.47 per cent , according to moneyfacts.co.uk.

The number of five-year fixes on offer for those with a bigger deposit is now even greater than the number of two-year deals, which have traditionally been the most popular mortgage-type.

It is crucial that you prepare for the coming months to ensure your finances are as insulated as they can be from the fallout.

Farmers weighed down by debt are now falling prey to land grab by an array of predators that includes talatis and school teachers. A "proper" deed of sale is the preferred method. P Sainath continues his series on Vidharbha's crisis.

Cham : Palgrave Macmillan, c2019.

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