Following the housing crash, millions of borrowers fell underwater on their mortgages, owing more than their homes were worth. Fast-rising home prices over the last two years have brought borrowers above water and beyond. Approximately 80 percent of homeowners now have equity they can use, cash which could fuel the economy. Just 2.7 percent of borrowers, or about 1.36 million, still owe more on their mortgages than their homes are worth. Read More at CNBC.
The Banks with the Most CFPB Complaints in 2017
LendEDU, an online marketplace for student loan refinancing, put together a list of banks that received the most consumer complaints in 2017, as measured by the number of complaints per billions of dollars in deposits. Read More at Housing Wire.
Mortgage Loan Modifications Basics
If you’re struggling to make your monthly mortgage payments or have fallen behind, you may be at risk of losing your home. But depending on the circumstances, you may be eligible for a loan modification, which can make it easier to stay on top of mortgage payments and avoid foreclosure. If you’re in this position, here’s what to know about getting a mortgage loan modification. Read More at NerdWallet.
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