A unanimous Supreme Court ruled Tuesday that home buyers don’t need to file a lawsuit, but may simply write a letter if they want to back out of a mortgage because they claim their lender violated the federal Truth in Lending Act.
The Supreme Court will decide what a home buyer must do to rescind a mortgage that violates the federal Truth in Lending Act. The justices on Monday agreed to hear an appeal from a Minnesota couple who refinanced their home in 2007 with Countrywide Home Loans, Inc.
Minnesota property taxes owed this year are mostly static once refunds and credits are factored in, state officials said Friday, despite their earlier prediction that those taxes would drop considerably. A Department of Revenue analysis shows a net $8 million drop in a property tax system that generates $8 billion a year.
Click the link to hear Jordan Goodman talk with Dave Lee
After mortgage banker Alex Stenback of Alerus Mortgage helps people buy a new home, he sells off the mortgage. “We sell everything that we do here,” Stenback said. “When we sell them, it’s one by one.” About 80 percent of home loans are eligible to be sold. Stenback says it can happen for a couple of reasons. “One is there is $10 trillion in outstanding mortgages right now in the country and there’s simply not enough deposits in all the banks to make that many mortgages,” he said.
Personal finance expert Jordan Goodman joined Dave Lee on the WCCO Morning News Tuesday.
Is a home the new engagement ring? A new national survey shows more and more young couples are putting mortgages before wedding bands these days.
Prosecutors in Ramsey and Hennepin counties are suing a company that runs a nationwide electronic mortgage registry, saying the company and mortgage lenders deliberately circumvented public tax rolls and failed to pay county fees.
National financial expert Jordan Goodman warned WCCO Morning News with Dave Lee listeners that going past the government’s fiscal cliff could be very troublesome.
Home prices increased in September in most major U.S. cities, more evidence of a housing recovery that is providing a lift to the fragile economy.
A new housing report shows that foreclosure rates are falling in the Minneapolis-St. Paul-Bloomingon area. According to CoreLogic, a business data and analytics company, foreclosure rates are down nearly two percent from the same time last year.
With a couple of simple fixes from Congress, billions of dollars could be put into the economy by allowing middle class families to refinance their mortgages and by keeping student loans at market rates. Maybe […]
Big news from the mortgage and foreclosure crisis: government officials tell CBS News a historic settlement will be announced Thursday that could affect nearly two million homeowners.
More than 200 of the homes damaged in the deadly tornado that hit north Minneapolis were already foreclosed or vacant, making it difficult to determine if the homes are insured.