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  2. Wall Street Journal

Wall Street Journal

Even as Rents Drop, More Apartments Sit Empty

Apartment vacancy rates reached an average of 7.2 percent in the first quarter of 2009, a 1 percent increase over the previous two quarters and the highest level since 2004, according to real estate research firm Reis Inc. At the same time, asking rents fell 0.6 percent and effective rents—what landlords are actually able to […]

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The Fed: Coming to a Theater Near You

The Federal Reserve is taking over the big screen, showing ads at movie theaters that warn against foreclosure fraud. The spots will run in 14 cities with high-foreclosure rates and an abundance of financial scam artists who often result. The ads last 30 seconds and feature photos of individuals and families. They open with the […]

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Government Struggles to Keep Interest Rates Low

Mortgage rates are rising, despite the government’s efforts to hold them down.   The government can’t control all the factors that affect mortgage rates. Mortgage interest has climbed because more borrowers refinanced when rates fell and boosted the supply of mortgage bonds.   Experts also attribute rising rates to expanded borrowing by the government to […]

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Buyers Being Lured to 100% Loan Program

More buyers in search of home loans are turning to an obscure program operated by the United States Department of Agriculture. The program allows no-money-down purchases. In fact, including a mortgage insurance policy, a borrower can seek up to 102 percent. To be eligible, buyers can’t have income that exceeds 115 percent of the median […]

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Loan Company Tries Cutting Mortgage Principal

 At least one loan servicing company is retooling mortgages to lower the loan balance as well as the rate in order to keep borrowers in their homes. Reducing the principal on mortgages is “a last resort,” says Paul Koches, executive vice president at Ocwen Financial Corp., a West Palm Beach, Fla., loan servicer. Ocwen has […]

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