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IMPORTANT: Bing News RSS feed has moved!Homeowners in some of the nation’s poorest areas have put themselves at increased risk of mortgage arrears or repossession as a result of the sharp rate at which they withdrew equity from their homes in the run up to the credit crunch in 2007. Read moreOwners risked homes as crash nearedBanks typically make homeowners with less than 20 percent equity add private mortgage insurance (PMI) premiums to their mortgage payments. The insurance helps the lender guard against the borrower defaulting on the loan. Owners who want to lower their ... Read moreHow To Get Out Of Private Mortgage InsuranceThe new legislation will mean "mortgage prisoners" - people locked in negative equity and unable to move house - will be able to get better loans. The change in mortgage application rules is to be announced by the Financial Services Authority (FSA ... Read moreRules 'to help mortgage prisoners'... and is known as "equity debt" because it draws on the equity of your property. Between the two, you can take out $1.1 million in debt and deduct the full amount of mortgage interest, provided that all mortgages fit into one of the following ... Read moreTax Deductions On Mortgage InterestHomeowners trapped in negative equity have been given fresh hope, after it emerged that the financial watchdog wants to loosen rules to allow banks to help people whose homes are worth more than their mortgage move. Whether already cash-strapped banks will ... Read moreHow to beat the negative equity trap: What you can do to start solving the problem nowOne way to boost your income in retirement is to let the bank send you a monthly check. With a reverse mortgage, you borrow against the equity in your home (receiving funds each month, in a lump sum, or with a line of credit) and don't repay the ... Read moreIndustry Pushes Lower-Cost Reverse MortgagesThe Federal Housing Administration’s reverse mortgage product, the Home Equity Conversion Mortgage, is an amazing product, maybe even ahead of its time. Developed 22 years ago, the product has been maturing into a viable option just as 10,000 ... Read moreIs 2012 the Year FHA’s Reverse Mortgage Program Grows Up?based company is a provider of information, analytics and business services. Among all residential properties with a mortgage, 10,442 in Louisville had negative equity, which means that the borrower owes more on the mortgage than the home is ... Read moreMore than 10,000 Louisville homes have negative equityWhile not as serious a problem in the Pittsburgh region as in the rest of the nation, the number of residential properties with "negative equity" -- a mortgage amount owed that is higher than the value of the home -- is increasing here along with so-called ... Read moreFor additional information, please see:
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