Advertisement
HomeCollectionsSecond Mortgage
IN THE NEWS

Second Mortgage

FEATURED ARTICLES
NEWS
March 22, 2010
If the federal government really wants to help American citizens get affordable health care, why not regulate the pharmaceutical companies so that people can get the medicine they need without taking out a second mortgage? Oh, yeah -- I forgot -- that would involve lowering the income of multi-billion dollar corporations. Silly me!! Tony Seitz, Glen Burnie
ARTICLES BY DATE
ENTERTAINMENT
By Chris Kaltenbach, The Baltimore Sun | May 15, 2014
No offense to conventional hotels, but sometimes you just want to stay someplace a little different, a little avant-garde, someplace you'll be able to tell the grandkids about someday. You know, someplace that, once you post a picture on Facebook, will make every one of your 732 friends positively green with envy - or at least scratching their heads, wondering how you ever found this place. (And preferably, someplace that won't require taking out a second mortgage to get there and hang out for a few days - which, regrettably, precludes anything atop Mount Kilimanjaro.)
Advertisement
BUSINESS
By Michael Gisriel | March 13, 1994
Q: My husband and I are renting a house in Westminster with the option to purchase it. The owner of the house has offered to take back a second mortgage for part of the purchase price if we exercise our option and buy the house. How will this help us get a first mortgage to purchase the house?K. Houck, WestminsterA: The seller's offer to take back a second mortgage for part of the purchase price will help you get a first mortgage for the house you are now renting.Homebuyers need to borrow from 90 percent to 95 percent of the purchase price of a house in the form of a first mortgage from a lender in order to buy a home.
NEWS
November 9, 2013
Let me get this straight. Residents are being advised to buy insurance to protect themselves from damages Itron Inc. may cause while installing the wireless "smart" water meters that are designed to correct the problem of inaccurate readings that the city created ( "City awards $83.5 million deal for water meters," Nov. 7). And Mayor Stephanie Rawlings-Blake has the gall to empathize with the "hardworking families, many of whom are barely making ends meet?" City Comptroller Joan Pratt had it right when she said the need to purchase insurance was "like another tax. " I suggest city officials search their archives and find out how they managed to get the water meter readings right when water bills didn't require a second mortgage to pay. Sean Tully, Baltimore - To respond to this letter, send an email to talkback@baltimoresun.com .
NEWS
By John B. O'Donnell and John B. O'Donnell,SUN STAFF | August 29, 2001
An Owings Mills man was charged yesterday by federal prosecutors with mail fraud in connection with an alleged property "flipping" scheme that targeted investors and allegedly defrauded lenders. Leon Wilkowsky, 38, is expected to plead guilty to the one-count criminal information. The information alleges that over a 3 1/2 -year period ending in December, Wilkowsky, operating B&S Management Inc., conducted a fraudulent scheme to buy low-cost city properties and quickly sell them to investors.
BUSINESS
November 30, 2003
Some readers ask whether there is any way to cancel mortgage insurance on Federal Housing Administration loans. Mortgage insurance on FHA loans does not automatically cancel even if the loan-to-value ratio has improved substantially. This is different from private mortgage insurance. With FHA loans, you must pay the monthly mortgage insurance premium as long as you own the home or keep the loan. But in the current real estate market, with rising home values and low mortgage interest rates, folks who are paying government mortgage insurance should investigate refinancing to a conventional loan which does not require mortgage insurance.
BUSINESS
By KEN HARNEY | March 2, 2008
Everybody wants to help keep people in their houses and out of financial stress and foreclosure, right? That's what the Bush administration says, and that's what top executives of major banks, mortgage companies and Wall Street investors all say. But where the proverbial rubber hits the road -- at the point where individual homeowners seek to refinance or modify their mortgage terms -- things may look different. Take the case of Robert Whittaker, a Sykesville homeowner who sought to refinance a $260,000 first mortgage recently when 30-year rates fell below 6 percent.
BUSINESS
September 6, 1998
Dear Mr. Azrael:I'd like to know if there's any way that I can purchase a house using my own home as equity without having to make any significant down payment. I presently owe about $13,000 on a $160,000 home. Thank you.Curt GlobalFallstonDear Mr. Global:Your home has substantial equity. Equity is the difference between the value of your home and the amount owed on it. Assuming you have good credit, you easily should be able to borrow 60 percent to 80 percent of the equity in your home. This borrowing power could be used to provide a down payment for purchasing a second home or investment property.
NEWS
By Dennis O'Brien and Dennis O'Brien,SUN STAFF | November 3, 2001
A 38-year-old Owings Mills man charged with operating a property flipping scheme that defrauded home mortgage lenders of up to $2.5 million pleaded guilty in federal court in Baltimore yesterday to mail fraud in connection with the scheme. Leon Wilkowsky pleaded guilty before U.S. District Judge J. Frederick Motz to a single count of mail fraud in connection with his 1998 purchase and quick resale of an East Baltimore rowhouse. In a statement of facts submitted to Motz yesterday, Assistant U.S. Attorney Joseph Evans said that Wilkowsky's company, B&S Management Inc., bought a house in the 1700 block of N. Patterson Park Ave. for $14,000 on Feb. 17, 1998, and sold it the next day for $53,000.
NEWS
November 9, 2013
Let me get this straight. Residents are being advised to buy insurance to protect themselves from damages Itron Inc. may cause while installing the wireless "smart" water meters that are designed to correct the problem of inaccurate readings that the city created ( "City awards $83.5 million deal for water meters," Nov. 7). And Mayor Stephanie Rawlings-Blake has the gall to empathize with the "hardworking families, many of whom are barely making ends meet?" City Comptroller Joan Pratt had it right when she said the need to purchase insurance was "like another tax. " I suggest city officials search their archives and find out how they managed to get the water meter readings right when water bills didn't require a second mortgage to pay. Sean Tully, Baltimore - To respond to this letter, send an email to talkback@baltimoresun.com .
BUSINESS
By Steve Kilar and The Baltimore Sun | April 18, 2013
In addition to an extension of the Homestead Tax Credit application deadline, several other pieces of legislation relevant to homeowners passed both chambers of the General Assembly during the most recent session, which ended earlier this month. Gov. Martin O'Malley is expected to sign them -- provided they pass a constitutional review, according to spokeswoman Raquel Guillory. Among the 2013 session housing legislation that is likely to become law: House Bill 235, introduced by Harford County Republican Del. Susan K. McComas, would require the Department of Assessments and Taxation to add five fields of information to the publicly available online database of property tax assessment information.
BUSINESS
By Steve Kilar and The Baltimore Sun | March 1, 2013
The state's House of Delegates recently passed by a 134-to-0 vote a bill that would make it easier for homeowners to refinance mortgages at today's low rates. The bill, modeled after a law Virginia adopted more than a decade ago, would allow homeowners to proceed with refinancing a first mortgage without permission from a second mortgagor. The process of seeking such approval can be costly, confusing and time-consuming, according to the bill's sponsors. “Too many homeowners struggle to make payments on more than one mortgage,” said Del. Sam Arora, a Montgomery County Democrat who co-sponsored the bill, HB 88. “We have a real opportunity to help them by removing an unnecessary barrier to locking in lower interest rates and stay in their homes.” For the law to apply, the principal of the second mortgage would have to be $150,000 or less.
NEWS
By Justin Fenton, The Baltimore Sun | August 16, 2011
The founder of the Baltimore Grand Prix has filed a $750,000 claim against the current organizers of the event, joining another early investor who claims he has yet to be paid. Steven C. Wehner says Baltimore Racing Development LLC, the company that he created in his mother's Rodgers Forge basement five years ago, failed to make payments totaling $575,000 owed to him over five years in exchange for his 10.2 percent stake in the company. Wehner is also seeking attorney's fees and interest.
BUSINESS
By Gus G. Sentementes, The Baltimore Sun | October 23, 2010
Maryland has endured a bruising recession better than many other states, but voters here are still wary over the economy and personal finances, and could punish incumbent politicians at the ballot box next month, a Baltimore Sun survey shows. The Sun survey of 798 likely Maryland voters showed that nearly two-thirds worry about their finances — and one in four say they fret about money every day. More than half of voters say the performance of the economy will influence their voting decisions.
NEWS
March 22, 2010
If the federal government really wants to help American citizens get affordable health care, why not regulate the pharmaceutical companies so that people can get the medicine they need without taking out a second mortgage? Oh, yeah -- I forgot -- that would involve lowering the income of multi-billion dollar corporations. Silly me!! Tony Seitz, Glen Burnie
NEWS
By Larry Carson and Larry Carson,larry.carson@baltsun.com | January 3, 2010
At 50, Fredua Agyeman has lived in Howard County for just over a decade, but until recently he could never imagine buying his own home. Last month, with a big boost from county housing programs, the county school custodian made the jump from renting in a county-owned complex to owning a three-bedroom townhouse near the Elkridge library. Two of his children live with him. Daughter Ama, 16, is a full-time student at Howard Community College who joined him at 14 from his original home in Ghana, West Africa.
NEWS
By Joan Jacobson and Joan Jacobson,Staff Writer | March 9, 1993
Ground was broken yesterday for 33 town houses in Johnston Square, one of Baltimore's poorest communities, for sale to low- and moderate-income families.The ground-breaking ceremony came four years after the Johnston Square Community Development Corp. started working with the Enterprise Construction Corp. on a plan to build the homes in the 1100 block of Somerset St. and the 1200 block of E. Chase St.The $4.1 million project will include 22 rental town houses to be built nearby in the neighborhood, which lies just east of downtown and which includes the Maryland Penitentiary and the Baltimore City Detention Center.
BUSINESS
January 16, 2000
In the last few weeks I've gotten a few questions on mortgages. The first concerns how to get an amortization schedule for a loan, and the other is whether there is a standard form or document to be used when applying for a second mortgage. A mortgage amortization schedule lists each monthly payment during the loan term and shows how much is principal and how much is interest. A homeowner's bank or mortgage company may provide an amortization schedule for a loan free of charge or for a small fee. Software to create amortization schedules can be downloaded from several Internet Web sites.
NEWS
By Larry Carson and Larry Carson,larry.carson@baltsun.com | October 9, 2008
Two women beset with health and financial problems were facing imminent foreclosure on their Ellicott City homes when they thought rescue was at hand. Betty J. Bullock, 63, had poor eyesight and diabetes for years and lived on about $800 a month in Social Security. She had no savings and hadn't worked since 1997. Griselda Mason, 68, also had vision problems and trouble walking, which limited her ability to work.
BUSINESS
By KEN HARNEY | March 2, 2008
Everybody wants to help keep people in their houses and out of financial stress and foreclosure, right? That's what the Bush administration says, and that's what top executives of major banks, mortgage companies and Wall Street investors all say. But where the proverbial rubber hits the road -- at the point where individual homeowners seek to refinance or modify their mortgage terms -- things may look different. Take the case of Robert Whittaker, a Sykesville homeowner who sought to refinance a $260,000 first mortgage recently when 30-year rates fell below 6 percent.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.