California Mortgage News

The Latest News and Developments For
Mortgage Refinancing In California

California Mortgage's Latest Breaking News

• FDIC proposes to modify 2.2M mortgages to fight foreclosure  USA Today - Nov 16 4:22 PM Publicly breaking with the Bush administration's official stance, the Federal Deposit Insurance Corp. proposed Friday to use $24 billion in government financing to modify 2.2 million mortgage loans and help a projected 1.5 million American households avoid foreclosure.



• More mortgages going to first-time buyers  RTÉ News - Nov 17 5:24 AM As investors bail out of the property market, first-time buyers now hold a larger share of the market.



• Graciela Chichilnisky: It's the Mortgages: How to Restore the Health and Stability of the Economy  HuffingtonPost - Nov 17 12:16 PM The true root cause of the financial crisis starts with the continued defaults on mortgages that magnify and snowball throughout the entire financial system.



• Higher limits for reverse mortgages may benefit some seniors  Belleville News-Democrat - Nov 17 5:30 AM This month, many older homeowners got some long awaited good news when the Department of Housing and Urban Development approved the higher lending limits for reverse mortgages. Now a home equity conversion mortgage, or HECM, can be federally insured up to $417,000.



• 5:05 p.m. High court rules Gill-Baza residents excused from paying mortgages  Pacific Daily News - Nov 16 11:23 PM 5:05 p.m. Nov. 17 The Supreme Court of Guam overturned a lower court decision this afternoon that excuses residents of Gill-Baza from paying their mortgages to developer Cyfred.

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