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Consumer Mortgage Reports
Federal Open Market Committee Holds At 2%-
Loan Limits Slated To Be $625,000
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This Week In Mortgage News
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Federal Banking and Thrift Agencies Issue Final Guidance on Supervisory Review Process
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Federal Reserve Issues Rule Amending Regulation Z (Truth in Lending)
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IndyMac Federal Bank Receives Government Support
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FDIC Says Deposits in Failed IndyMac Bancorp Are âSafeâ
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Charles Schumer Is Politically Irresponsible
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Mortgage Stocks Dive Again
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OFHEO Releases Statement To Ease Mortgage Tension
‘Unusual Circumstances’ and Foreclosing On Your Home May Not Ruin Your Credit
Foreclosing on your home may no longer ruin your credit rating because of ‘Unusual Circumstances’.
Foreclosing on your home may no longer ruin your credit rating because of ‘Unusual Circumstances’. With tens or even hundreds of thousands of homeowners loosing their house banks have to figure out how to handle this new dilemma.
You have to remember that lender have to lend and Americans are opting to walk away from homes in financial crunch. With millions of people all entering into the same exact financial and Credit situation it may not be good for the banks to wipe all these people from their potential client list.
Walking away from your home may no longer kill your credit. Obviously, this does not justify for anyone to walk away, however, the question remains.
How will the credit agencies and the banking institutions handle this new area of credit problems?
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