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Bank of America Corp. said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing more evidence that consumers are still struggling to pay their bills. The nation’s second-largest bank said it wrote down loans on its books by almost $10 billion during the July-September period, up almost $1 billion from the second quarter. The bank also added $2.1 billion to its reserves to cover bad loans, bringing its provision for credit losses to $11.7 billion. The

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News Sources wrote an interesting post today on
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Fixed rate mortgages loan are the most conventional form of loans where the rate of interest remains fixed and the monthly payment of the loan is also stable throughout the term of the loan. The tenure for these loans usually starts from 10 years and go till 30-35 years accordingly. However, it should be noted that the higher the term of the loan is the lower would be the rate of interest which means low monthly payment also for the complete loan period. The major advantage of fixed rate mortg

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Real Estate News: Loan Writedowns Rise, Distressed Buyers BewareWall Street Journal (blog)Real Estate News compiles a daily wrap-up from each morning’s Wall Street Journal and other news sources. Banks Bite Bullet on Loans (WSJ): …

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by Moe Bedard on September 30, 2009 · 0 commentsin Mortgage Servicers The ratio of first mortgages 90-days late in Orange County rose for the seventh straight month in July, hitting 6.7% of all loans outstanding. That’s the highest percentage since at least January 2007, when it was a mere 0.7%, and is up slightly from 6.6% in June, reports First American CoreLogic.The percentage of mortgages here with some type of foreclosure filing rose to 2.4% in July from 2.3% in June and 1.6% in July’08Read

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News Sources wrote an interesting post today on
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I spent some time today going through a hundred headlines from this decade relating to the housing market. What I found is rather telling and may be contrary to what you would expect. Some in the press were early to the housing bubble but as the housing market grew stronger and the bubble expanded, many of those in the press pushed their assumptions aside and learned to love the housing bubble. Even as option ARMs and Alt-A loans made their way through the market, the housing bubble suddenl

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