According to the findings of a Harris Poll survey, 2008 will be a bad year for those who rely on originations of cash-out refinancings or home equity lines of credit for business. Americans have become weary of using their home as equity to finance loans, Harris Interactive said. Only 4% said they plan to refinance their mortgage in 2008, while only 2% said they would take out a HELOC. If any group were more likely than others to refi this year, it would be the Generation Xers and the baby boomers, which gave a 6% positive response to the refinance question. When asked which issue will affect them personally, 70% said they were concerned about Americans who default on their mortgages and 61% said they were concerned about companies that lose money as a result of defaulting mortgages. The survey was conducted online between Dec. 4 and Dec. 12, with 2,335 adults participating.
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The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25