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The United States Housing Bubble: An Overview
The United States housing bubble was an economic bubble that affected many parts the United States including Colorado, Nevada, Arizona, Florida, Oregon, Michigan and the southwest markets. The prices of homes started to rise and peaked in the year 2005, started to drop in 2006 and are still declining. The increase in foreclosure rates in the
Mortgage Broker: Tasks And Responsibilities
A mortgage broker is a person or an entity that acts as an intermediary between the mortgagee and the mortgagor. Historically lenders and banks used to directly offer their mortgage products to consumers or borrowers. However as markets have grown competitive, so has the role of the mortgage broker. This is because a broker can
The Sub-prime Mortgage Crisis: A Vicious Cycle
The subprime mortgage crisis is an ongoing real estate crisis and fiscal crisis triggered by a spectacular increase in mortgage delinquencies and foreclosures in the United States, with major unfavorable repercussions for banks and monetary markets around the world. The crisis, which has its line in the closing years of the 20th century, became obvious
Strategic Default Dilemma
In these troubled economic times it is not unusual for the price of property and real estate to go down. In many cases the amount that is owed by the mortgagor or the borrower on the promissory note is much higher than the real cost of the property. Furthermore if the cost is going to
Equitable Mortgage Basics
An equitable mortgage is one which does not meet the criteria of a legal mortgage but are considered mortgages under equity. There are numerous situations that can lead to an equitable mortgage. As of 1961 the English court of law required the consent of the court before such mortgage could be put into effect. When the
Mortgage Repossession Vs Foreclosure
Mortgage repossession, in the UK, is the repossession of a dwelling or home by a mortgagee due to default on the part of the mortgagor. The procedure of Mortgage repossession usually entails an order of possession in the courts and then an eviction notice. Once ...
Mortgage Electronic Registration Systems
Mortgage Electronic Registration Systems (MERS) is a privately held company and is designed to track servicing rights as well as ownership of mortgage loans in the United States. The entity ...
Mortgage Foundation: The Largest Mortgage Lender
Mortgage Foundation which is also abbreviated to MF is the largest mortgage lender in the United States. Located in downtown, Ft. Lauderdale, Florida, the activities of this private entity include ...
Mortgage Banks: An Overview
A mortgage bank is one which specializes in originating and/or servicing mortgage loans. This state-licensed entity is different from a mortgage broker, in that, it forwards the loans from its ...
Commercial Mortgage Backed Securities
Commercial Mortgage Backed Securities (CMBS) are a type of mortgage backed securities that are backed by commercial rather than residential real estate. Mortgage backed securities are nothing but asset backed ...
United Kingdom Property Bubble: An Overview
United Kingdom is the only country among other developed countries and especially among Eurozone nations where homes are costlier than ever. There are some features of the UK bubble that sets it apart from the housing bubbles of other developed ...
United States Department of Housing and Urban Development
The United States Department of Housing and Urban development is a cabinet department in the executive branch of the United States Federal government and is also abbreviated to HUD. Founded in 1965, the department was part of the “Great Society” ...
Asset Based Lending: Utilizing Equity
Asset based lending is simply the taking out of a loan where the collateral is an asset and can be foreclosed or taken possession of by the lender if the borrower defaults on his or her payments. Although a mortgage ...
Closed-End Mortgages: The Downside
Closed end mortgages are those that do not permit the mortgagor to make a pre-payment or pay off the loan in full before the maturity of the contract. Unlike open-end mortgages which allow the mortgagor or borrower to pay off ...
Chapter 13 Bankruptcy
Chapter 13, Title 11, United States Code or simply referred to as chapter 13 is a type of bankruptcy that helps in reorganizing the debt. This differs from chapter 7 in that it does not discharge ...
Home Mortgage Disclosure Act, 1975
The Home Mortgage Disclosure Act (HMDA) was passed in 1975 in order to mitigate discriminatory practices in the mortgage market based on gender or race. Furthermore, this act also helps in stemming the trend of redlining in which certain geographical ...
