Part of the recent Countrywide Financial Corp.’s earnings release was the news that its $32.4 billion portfolio of prime home equity lines of credit (HELOC) had begun to rapidly deteriorate. The lender was forced to take a $704 million charge related to homeowners’ inability to pay back equity they extracted from their homes.

Once a certain threshold of losses is achieved in a home equity loan securitization pool, the bond holder is paid off ahead of the lender. What’s worse is that it’s difficult to see how large a lender’s exposure is to home equity loans.

In the short-term, this is just another blow for a investors in the financial sector. Longer-term however, it looks like a lot of ready cash is getting taken away from homeowners, at least in California. (more…)

search for : home equity lines of credit

More than half of borrowers who have missed mortgage payment deadlines remain unsure of ways to avoid foreclosure. However, a recent report indicates that the percentage is falling. Research from government mortgage buyer Freddie Mac said that 57% of late-paying borrowers are unaware of foreclosure alternatives offered by their lenders.

That percentage was down from the 61% reported in the first Freddie Mac/Roper survey in 2005. Efforts to get borrowers to call lenders and counselors are starting to work, yet too many at-risk borrowers are still unaware their servicers routinely provide alternatives. (more…)

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According to the Federal Trade Commission, identity-theft complaints are up 185% since 2001. Protecting your privacy consists of a few common sense items, consisting of a combination of common sense and street smarts.

Credit-report freezing, which prevents anyone new from viewing your report or issuing credit in your name, is now available in all 50 states and involves mailing a request to all three major credit-reporting agencies.

The Do Not Call Registry is currently 145 million phone numbers strong. Enforcing the law, the FTC recently levied $7.7 million in fines against companies that skirted it. To keep your number private, make sure it’s on the Registry. (more…)

search for : identity-theft complaint, Do Not Call Registry

Beautiful Wilkes County NC Log Home and Mountain Property.

MLS Number: 50863, List Price: $359,900

Bedrooms: 3, Full Baths: 2, Half Baths: 0, Est Total SqFt: 2600, Type/Style: Log Home, Area: Area 6, Middle School: Cntrl Wlks, High School: Wlks Cntrl, Construction: Log

Foundation: Combination, Roof: Metal Roof, Floors: Carpet/Hardwood/Tile, Garage/Carport: None-Garage, None-Carport, Interior Features: Master Bedroom, Main Level, Large Master Bedroom, Walk-In Closet(s), Hardwood Floors, Fireplace(s), Great Room, Exterior Features: Double Pane Windows, Wooded Lot, 1-5 Acres, Hot Tub, Subdivision: N/A, Lot Size: 2.47, Apx SqFt: 2600 - 2800 SF, Basement: None

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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