The Department of Justice announced this week that a lawsuit has been filed against Bank of America for defrauding buyers of mortgage backed securities. In the real estate runup to the market crash beginning in 2006, the sale of mortgage backed securities was a major activity and many believe contributory to the market collapse.
Closing Costs Going Up
Based on a $200,000 mortgage with good credit and a 20% down payment, closing costs are up 6% on average nationally. Closing costs rose from an average $2264 to $2402 in the latest survey.
Is Another Housing Bubble Coming?
Housing market analysts are at odds over whether the housing market is moving toward another bubble condition. With new home starts up 28.1% and home sales up 15.1% year over year, some analysts believe that the task at hand is to maneuver around another bubble. Prices rising at the same time adds concern.
Government Sues Bank of America
The Department of Justice announced this week that a lawsuit has been filed against Bank of America for defrauding buyers of mortgage backed securities. In the real estate runup to the market crash beginning in 2006, the sale of mortgage backed securities was a major activity and many believe contributory to the market collapse.
Closing Costs Going Up
Based on a $200,000 mortgage with good credit and a 20% down payment, closing costs are up 6% on average nationally. Closing costs rose from an average $2264 to $2402 in the latest survey.
Is Another Housing Bubble Coming?
Housing market analysts are at odds over whether the housing market is moving toward another bubble condition. With new home starts up 28.1% and home sales up 15.1% year over year, some analysts believe that the task at hand is to maneuver around another bubble. Prices rising at the same time adds concern.