St Louis Finance Lending: Income Down Savings Down

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St Louis Finance and Lending News: Personal Incomes and Savings Rate Down
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction

According to the Commerce Department, personal income fell 0.1 percent. The drop in personal income was a sharp reversal from a revised 0.4 percent increase registered in August.

Further reports by the Commerce Department showed that spending by individuals increased by 0.2 percent.

Economists expected that spending by individuals would rise 0.4 percent in September, according to

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St Louis Foreclosures Rose In 3rd Quarter

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St Louis Principal Reduction and Loan Modification News: Foreclosures Climbed Higher In The Third Quarter of 2010
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Foreclosure filings increased from last year in 133 of 206 metropolitan statistical areas tracked in the third quarter of 2010, or 65 percent, according to RealtyTrac.

The Seattle area had the highest increase. There, foreclosure filings, which include notices of default, pending cases, notices of foreclosure sale and repossessions, increased

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St Louis Home Loan: Investors Still Recouping Mortgage Losses

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St Louis Finance and Loan Audit News: Investors Trying To Recoup Mortgage Losses
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Nearly 200 investors attended a meeting in New York on what was being called "Robosigners and Other Servicing Failures," said David Grais, a New York securities lawyer.

He was sponsoring the conference and currently represents two Federal Home Loan Banks that have filed lawsuits over mortgage-backed securities they own according to the St Louis home loans professionals.

It's one of several indications that

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St Louis Mortgage Broker: Economy Makes Small Improvements

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St Louis Finance and Loan Audit News: The Economy Is Slowly "Muddling Along"
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction

The Commerce Department said today that the economy expanded at a 2 percent annual rate in the July-September quarter.

It marked an improvement from the feeble 1.7 percent growth in the April-June quarter according to St Louis mortgage brokers. Consumers helped boost last quarter's economic growth with 2.6 percent growth in spending.

That was better than the second

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St Louis Loan Modification Programs: Mortgage Modifications Slow

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St Louis Mortgage and Real Estate News –

St Louis Loan Audit News: Loan Modification Programs Running Slow With Less Than Stellar Results
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending

There were 28,000 permanent mortgage loan modifications reported in September 2010 under the Home Affordable Modification Program, better known as HAMP. That's down from more than 33,000 in August.

A total of 495,898 borrowers have received permanent loan modifications since HAMP was

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St Louis Finance And Foreclosures: Foreclosure Pipeline Shrinking

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St Louis Finance and Loan Audit News: Freddie Mac and Fannie Mae Are Saying Foreclosure Pipeline Slowing
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

Freddie Mac, one of the two government-owned entities that finance about half of all U.S. mortgages, says that homes are taking as long as eight months to work their way through its foreclosure pipeline which is two months longer than was typical before this mortgage crisis began according to Liberty Lending Consultants, a St Louis mortgage company.

What is interesting is that the delay is the result of more borrowers staying in their homes for months after foreclosure proceedings have begun, requiring Freddie Mac to

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St Louis Mortgage Home Loan: California Home Sales Down

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St Louis Loan Audit News: Home Sales Down 17 Percent
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and Commercial Lending | Principal Reduction

877-334-0210 or 314-334-0210 | Floyd Tapia, St Louis Refinancing Group News Team

California new and existing home sales totaled 33,176 in September, down 17.5 percent from a year ago and 3.1 percent from the previous month, according to the

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St Louis Commercial Loans: Obamacare Kills Small Businesses

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St Louis Mortgage and Real Estate News –

St Louis Loan Audit News: Obamacare Kills More Businesses
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| Principal Loan Reduction
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Industry experts say more insurers will drop health care coverage or go out of business if they were forced to meet a January 1st deadline that requires them to boost the money devoted to providing care.

The Obama administration was awaiting the recommendation of the National Association of Insurance Commissioners, meeting in Orlando for how and when to implement

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St Louis Lending: Billions Lost By Fannie Mae and Freddie Mac

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St Louis Mortgage and Real Estate News –

St Louis Loan Audit News: Taxpayers Brace For Fannie Mae and Freddie Mac Losses
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Consumers are now worried that bailing out Fannie Mae and Freddie Mac will cost them about $154 billion under the most likely scenario for home prices, the mortgage giants' regulator recently announced.

But the bill could end up much greater nearly twice the $135 billion already spent if grimmer projections prove true and the economy slides back into a double-dip

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St Louis Foreclosures: Bank Of America Resumes Foreclosures

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St Louis Loan Audit News: Bank of America Resumes Foreclosures In 23 States
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877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending

Bank of America reviewed 102,000 foreclosures in the 23 states where a court must sign off on the proceedings, and it has restarted the process on those cases, the company recently said.

The company said the first of the new affidavits had to be submitted by October 25, and that it

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