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Consumer News and Advice Archive


Chase Exclusives Rewards Checking Customers with New 1% Mortgage Cash Back

RISMEDIA, August 4, 2009-Chase, one of the nation's leading consumer banks, announced 1% Mortgage Cash Back, an innovative new benefit from Chase Exclusives, the program that rewards checking account customers for using the bank's other products and services. ...


HUD Secretary Shaun Donovan Announces New FHA-Making Home Affordable Loan Modification Guidelines

RISMEDIA, August 3, 2009-U.S. Department of Housing and Urban Development Secretary Shaun Donovan announced the Federal Housing Administration (FHA) has implemented changes to its loan modification program to ensure consistency with the Obama Administration's Home Affordable Modification Program. By August 15, FHA borrowers will be able to significantly reduce their monthly ...


FHA Home Modification Program Will Help Thousands of Homeowners, Say Realtors

RISMEDIA, August 3, 2009-The following is a statement by National Association of Realtors® President Charles McMillan: ...


Refinances in Second Quarter Reduce Mortgage Payments by $3.4 Billion in Coming Year

RISMEDIA, August 1, 2009-In the second quarter of 2009, half of borrowers who refinanced their loan lowered their annual mortgage interest rate by at least 20% according to Freddie Mac's quarterly Refinance Report. The new interest rate was about 1.25 percentage ...


Cash-for-Clunkers Program May be Suspended Just Days after Start

RISMEDIA, August 1, 2009-(MCT)-Four days after it launched, the popular cash-for-clunkers program has burned through its $950 million budget, sending the Obama administration scrambling to find additional money and avoid a shutdown of the program. ...


Men and Women React to the Economy in Different Ways

RISMEDIA, August 1, 2009-PriceGrabber.com, a part of Experian, explores the impact of the economy on online consumer behavior in its latest Consumer Behavior Report, Economic Trends in Consumer Spending. Results are based on a survey of 3,156 online consumers conducted over the past two months. Survey data revealed ...


Real Estate Professionals: Promote Your Value Now More Than Ever

JD Power and Associates survey reveals importance of extra services increases as buyers and sellers seek value from real estate companies ...


Luxury Prices Continue to Fall – Owners Ask for Less and Add Perks

RISMEDIA, July 31, 2009-(MCT)-After lowering the $4.2 million asking price of their Lake Bluff estate three times and by more than $1 million, Mike and Marti Palmer flirted with the idea of trading the still-unsold custom home for something smaller. ...


Are Increasing Foreclosures Swallowing Modest Gains in Mortgage Repairs?

RISMEDIA, July 30, 2009-As the Treasury Department urges mortgage servicing companies to step up their efforts to stop foreclosures, the latest available figures show that the number of households at risk of foreclosure is seven times the number of loan modifications, ...


Cash for Clunkers Program on Track to Stimulate Economy

RISMEDIA, July 30, 2009-The governments Cash for Clunkers program (C.A.R.S.) began stimulating the economy a month before the first rebate check was cut to a consumer for a new vehicle. "Manufacturers and dealers have spent millions to reach consumers who qualify for the $4,500 government funded rebates," said Sharon O'Connell. ...


Regional Spotlight: HMFA and DCA Welcome City of Newark to ‘Live Where You Work’ Homebuyer Program

RISMEDIA, July 30, 2009-Newark Mayor Cory A. Booker and Deputy Mayor for Economic and Housing Development Stefan Pryor joined New Jersey Housing and Mortgage Finance Agency (HMFA) Executive Director Marge Della Vecchia and other Newark dignitaries yesterday to announce that Newark is the newest member of the "Live Where You ...


Freddie Mac Launches Effort to Help Servicers Handle Record Demand for Home Affordable Modifications

RISMEDIA, July 28, 2009-As part of its support for President Obama's Making Home Affordable program, Freddie Mac announced an agreement with Home Retention Services, Inc., a wholly owned subsidiary of Stewart Lender Services, Inc., to help several regional servicers process thousands of additional applications for Home Affordable Modifications. ...


Fed Plans Consumer-Friendly Changes to Mortgage Rules

RISMEDIA, July 27, 2009-(MCT)-Federal Reserve governors unanimously proposed tough new consumer-friendly disclosure rules for mortgages and home equity loans last week, tackling one of the less-appreciated causes of the nation's deep financial crisis. ...


Mortgage Insurers Work to Prevent Home Foreclosures

RISMEDIA, July 24, 2009-As unemployment and home foreclosures continue to rise and threaten the economic recovery, the mortgage insurance industry is stepping up its ongoing efforts to keep families in their homes. The industry has been at the forefront in developing systems and procedures to support the U.S. Treasury's Home Affordable ...


Slow and Steady – Foreclosure Process Tests Patience

RISMEDIA, July 23, 2009-(MCT)-It's not a very common question, but one that is being asked more often than not as homeowners navigate their way through today's market. The question is simple: How do you get a lender to speed up the ...


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