Mortgage

Charlotte: A City Of Mortgage-Debtors

Julie Rose — Fri, 11 Jan 2013 21:08:25 +0000

More homeowners in Charlotte have mortgage debt than in most other major metro areas around the country. Are we just prone to big spending, or is something else at play in the housing market here?

Almost 21 million Americans – nearly a third of the nation's homeowners – own their homes outright.

Latest Settlement Shows 'Light At The End Of The Tunnel' For BofA

Julie Rose — Mon, 07 Jan 2013 19:29:54 +0000

We've already established that Bank of America's 2008 acquisition of Countrywide was a costly move – and a mistake in the view of many. The Charlotte bank has spent tens of billions of dollars on settlements and losses tied to that mountain of messed-up mortgages. On Monday, Bank of America made some important progress.

Another day, another settlement - or really two, in the case of Bank of America. And these are far from the last we'll expect to see.

BofA Shines In Mortgage Settlement Status Update

Julie Rose — Mon, 19 Nov 2012 20:58:14 +0000

The nation's five largest mortgage servicers – including Bank of America and Wells Fargo – have so far provided more than $20 billion in homeowner relief under a settlement with state attorneys general. Bank of America shows well in the latest report.

The last status report in August had a big zero for the number of mortgages modified or partially forgiven by Bank of America under the settlement. The Charlotte-based bank now leads the other four banks, in those categories with around $3.7 billion in homeowner debts written off.

Big Banks Now Required To Improve Service On Home Loans

Julie Rose — Tue, 02 Oct 2012 04:51:54 +0000

Getting a mortgage modified should be significantly easier as of today - assuming five of the nation's largest lenders deliver on promises they made in a $25 billion settlement signed six months ago.

Today is the deadline for Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and Ally Financial to implement hundreds of improvements to customer service for home loans.