St Louis Mortgage Loan and Refinancing Loan: Market Bears 30 Percent Of Foreclosures

St Louis Mortgage and Real Estate News –

St Louis Finance and Principal Loan Reduction News: Only 30 Percent Of Foreclosures On The Housing Market
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30 percent have actually made it onto the market.

According to its year-end report, foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing 4 million filings according to several St Louis mortgage brokers.

And that's not counting the more than 5 million delinquent loans that have yet to enter the

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St Louis Mortgage Refinancing and Home Loan Mortgage: Higher Credit Card Rates

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St Louis Mortgage and Real Estate News –

St Louis Finance and Loan News: Credit Card Rates At All Time High
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

 Current interest rates for credit cards are now hovering near record highs, at an average rate of 14.72 percent.

And if your credit is bad enough, you could even end up with a rate as high as 59.9 percent APR.

That's because while the CARD Act helped

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St Louis Home Mortgage, Loans and Refinancing: Foreclosures Spreading

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St Louis Mortgage and Real Estate News –

St Louis Finance and Loan News: Foreclosures Are Spreading
St Louis Mortgage Refinancing and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

 According to a report released early in 2011 by RealtyTrac, one out of every 9 homes in Las Vegas, Nevada received some kind of default notice in 2010.

But there seems to be a silver lining: The foreclosure rate is actually dropping in Vegas which was down 7 percent compared to the end of 2009 according to the St Louis Refinancing Group news team.

In fact, rates fell in all top 10 foreclosure markets of 2010.

In second highest foreclosure market,

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St Louis Mortgage Loan and Lending: Home Prices Have Been Lower

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St Louis Mortgage and Real Estate News –

St Louis Finance and Loan Audit News: Home Prices 4.1 Percent Lower In 2010
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

American home prices were turbulent through 2010 ending up 4.1 percent lower than the year before, according to analytics firm Clear Capital. And prices are expected

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St Louis Home Loan and Mortgage Lending: Rural Defaults Increase

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St Louis Mortgage and Real Estate News –

St Louis Finance and Lending News: Rural Defaults On The Rise
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

 Seeking to buoy a strained rural economy in the midst of the recession, the then-Democrat dominated Congress ordered up a huge increase in federal mortgage guarantees for small-town home buyers as part of the 2009 economic stimulus package according to several economists including St Louis home loans experts.

A newly released audit has found that the rural home loan program, administered by the United States

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St Louis Mortgage Broker and Home Loan Mortgage: HAMP Is Still Struggling

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St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Lending News: HAMP Found Lacking, Again
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Consultant

Approximately twelve months ago, the Congressional Oversight Panel found the program HAMP to be struggling to get off the ground despite having been in action for nearly a year and a half.

The latest evaluation of the Home Affordable Modification Program (HAMP) came out and the result was the same deal. HAMP has undergone several tweaks since April 2010.

But the Congressional Oversight Panel, created to issue periodic reports on the TARP bailout program, found little improvement in performance according to a St Louis mortgage broker.

Instead of helping 3 million to

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St Louis Mortgage Refinancing and Principal Loan Reduction: Mortgage Market Future Losses

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St Louis Mortgage and Real Estate News –

St Louis Mortgage and Loan Reduction News: Mortgage Market Underestimating Future Defaults?
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

Amherst Securities Group said the market is not taking into consideration the high likelihood of potential defaults on performing or re-performing mortgages when estimating future losses on these delinquent loans.

Mortgage-backed securities analysts at the fixed income dealer took a look at $1.3 trillion in outstanding non-agency mortgages from a year ago to see how they're doing as of November 2010 according to St Louis mortgage lending sources.

They found that the $485 Billion

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St Louis Mortgage Loan and Finance Lending: Bank of America Is Settling

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St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Loan Modification: Bank of America Settles For $3 Billion Dollars
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction Advocate

Bank of America (BOA) said that it paid nearly $1.3 billion to Freddie Mac and more than $1.3 billion to Fannie Mae on December 31, 2010 to resolve a faulty mortgage loan dispute involving Countrywide Financial Corp.

The $2.6 billion worth of payments to Freddie and Fannie, combined with potential losse on future repurchases from government-sponsored enterprises, adds up to $3 billion in expenses, according to St Louis loan experts.

Bank of America also expects to take an additional $2 billion charge to fourth-quarter results from

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St Louis Home Loans and Mortgage Refinancing: Strategic Default Risk Increases

St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Loan Reduction News: Strategic Default Risk May Increase
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Mortgage Loan Modification

The 2011 housing market started off to a bleak pace.

Home prices were expected to drop another 20 percent before hitting bottom, according to economists at A. Gary Shilling & Company, raising the risk that approximately 39.7 percent of borrowers will simply walk away from their home in a strategic default.

The firm reported in its December Investment Insight that home prices are already 29 percent below their peak in the first quarter of 2006 and fell 2 percent between

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St Louis Home Mortgage and Loan: Federal Reserve Did Not Help Economy

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St Louis Mortgage and Real Estate News –

St Louis Finance Lending and Loan Reduction News: Surprising Financial Turn as Federal Reserve's Policy Helped Stocks And Not Economy
St Louis Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

According to a CNBC Fed Survey in December, the Federal Reserve’s policy to purchase $600 billion of bonds in a program widely known as QE2 has been mostly ineffective at lowering interest rates and will do little to improve the unemployment rate.

The survey of 76 economists, bond and stock traders, and analysts, found about 62 percent saying the Fed’s program has been ineffective at lowering interest rates.

A similar percentage believes the

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