March 24, 2014

JPMorgan Chase Mortgage Forecast Worries Lenders – JPMorgan Chase’s recent forecast for an unprofitable year in the mortgage business came as a surprise—not just to Wall Street, but to other lenders.

Mortgage Tax Breaks Trickle Up, New Study Shows – Federal tax benefits for homeowners primarily help wealthier people borrow more money to buy larger houses rather than boost homeownership, according to a new study.

Dolan Co. Files Bankruptcy to Cut Foreclosure Unit Debt – Dolan Co. (DOLN), a provider of legal-support services and publishing, filed for bankruptcy after agreeing to be taken over by lenders to cut debt linked to its former mortgage foreclosure-processing business.

March 10, 2014

Best predictor of divorce? Age when couples cohabit, study says – For years, social scientists have tried to explain why living together before marriage seemed to increase the likelihood of a couple divorcing.

Social Security, marriage and divorce – Marriage or divorce can have lifetime consequences for your Social Security and retirement finances. Be sure you say “I know” before you say “I do” or “I’m done.”

The foreclosure nightmare isn’t over yet – The house is full of everything the Moody family wants to leave behind when their foreclosure nightmare—five years and counting—finally comes to a close.

March 6, 2014

EU pushes mediation rather than sanctions against Russia – The European Union is unlikely to match the United States in threatening sanctions against Russia when its foreign ministers meet to discuss Ukraine on Monday, instead pushing for mediation between Moscow and Kiev, officials say.

CORRECTED-YOUR MONEY-Three things divorced parents need to know about college – Figuring out how to split childcare costs when you’re divorcing is not easy, but it can be like remedial math compared to deciding who pays what for your children’s college education.

The Lingering Record of Your Foreclosure – The charge-off doesn’t mean that you’re cleared of owing the money. It means the lender considers it a non-performing loan. The lender’s recourse depends on state law, which can vary, of course. Second mortgages are not typically treated as easily by consumer protection laws.

February 27, 2014

Older Americans’ Breakups Are Causing A ‘Graying’ Divorce Trend – For baby boomers, divorce has almost become, like marriage, another rite of passage. The post-World War II generation is setting : Americans over 50 are twice as likely to get divorced as people of that age were 20 years ago.

Mortgage rates rise slightly – Average mortgage rates continued to inch up slowly for the fourth consecutive week, according to Freddie Mac’s weekly survey, released Thursday.

Twinkies Bankruptcy Exposes Peril to Some U.S. Pensions: Economy – When Hostess Brands Inc. went bankrupt in 2012, it triggered anxiety among employees at Ottenberg’s Bakery, a family-owned enterprise in Maryland. The companies shared a pension plan, and if Hostess couldn’t pay its retirees, Ottenberg’s would have to pick up the tab.

February 24, 2014

Is Wells Fargo getting back into subprime mortgages? – Wells Fargo is once again setting sail on subprime mortgage waters, despite how choppy they were several years ago. The bank will consider mortgage applicants with credit scores as low as 600, announced Franklin Codel, a Wells Fargo mortgage executive. Previously, the minimum was 640, and this change applies to purchase mortgages to be guaranteed by the Federal Housing Administration.

Shanghai to launch mediation system for medical disputes – Shanghai will introduce a directive next month to help ease the increasingly acute relationship between patients and doctors, which has resulted in death or injury to medical staff in recent cases.

Why Consumers Could Benefit From Energy Future Holdings’ Bankruptcy – Creditors are once again threatening to pull the plug on Energy Future Holdings, Texas’ largest electric company. After averting a bankruptcy filing last fall, creditors have failed to reach an agreement, and bankruptcy appears imminent, the Wall Street Journal reported.

February 20, 2014

Divorce: “You Will Survive” – As difficult as the divorce was, it also showed me how strong I am. The most important lesson I learned was: You do not have to do it alone. Get help. Get support. Talk to friends. See a therapist. Find a support group.

Average 30-year mortgage rate up to 4.33% – Average U.S. rates on fixed mortgages rose this week but remained near historically low levels.

Foreclosure Starts Fall to 2006 Level as Home Prices Rise – The rate of new foreclosures in the U.S. dropped to the lowest level in eight years as rising property prices erased negative equity and allowed more delinquent homeowners to sell without losing money.

February 17, 2014

Q&A: What Is a Bankruptcy Mediator’s Role – Federal Judge Gerald Rosen, the chief mediator in Detroit’s bankruptcy case, has a big job: overseeing tense negotiations with diverse creditor groups working to boost their individual recoveries in the Motor City’s historic Chapter 9 case.

Freddie Mac: Mortgage rates edge higher; 30-year average is 4.28% – A five-week decline in fixed mortgage rates has ended, with Freddie Mac’s survey showing the 30-year home loan averaged 4.28% early this week, up from 4.23% a week ago.

What’s the best way to consolidate debt? – A personal loan is often what people have in mind when they talk about consolidating debt. The ideal solution here is a loan with a low interest rate and affordable monthly payment that you can use to pay off other high-rate debt. And this can be a great strategy, provided you can find the loan you need. That can be a challenge, though, if your credit isn’t great. High levels of debt—especially credit cards with balances approaching your credit limits—can make it difficult to qualify for new credit.