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Home financing can be a critical part of any real estate transaction. Below you will find some outstanding mortgage information that may be able to help you with the purchase of your next home.


Hot Topic - What You Should Know About Strategic Default

Who would risk the negative impact of defaulting on a mortgage if they didn't really have to? About 17 percent of Americans who defaulted on their mortgages in the second quarter of 2010 did exactly that, according to a study by Experian, the leading global information services company.
 
"Strategic default" - choosing to stop paying on your mortgage even if you can afford the monthly payments - peaked at the end of 2008 during the height of the Great Recession. At that time, strategic defaults accounted for 20 percent of all mortgage defaults 60 or more days overdue, according to Experian.
 
 

Featured Article

We can improve the mortgage industry

So now the government wants our help.  But this is going to be a good thing for all those homebuyers out there.  

According to this USA Today article, the Consumer Financial Protection Bureau is looking to get our feedback to help make their mortgage paperwork and disclosures a lot more user friendly.  They want to know suggestions on how to make the expenses easy to understand as well as getting input on what borrowers are looking to see in the paperwork.

Click here to read more...


Your real estate mortgage resource


Helpful Information

In this section you'll find articles and resource pages to help expand your knowledge of the home buying process.


 

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Coldwell Banker Residential Brokerage
1622 Orrington • Evanston, IL 60201
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