Mortgage

 A complex new set of rules designed to limit risky loans is in place as of this week for mortgage bankers. The regulations were developed in response to the 2008 financial crisis.

That 2010 Dodd-Frank financial reform law was, among other things, supposed to make it harder for banks to issue mortgages fast and loose.

Dayton Home Sales Highest Since Recession

Jul 23, 2013
Diana Parkhouse

There’s some positive news for the Dayton housing market- home sales are at a five year high. The numbers are the most for the month of June since before the economic downturn began in 2007.

According to a new report from the Dayton Area Board of Realtors, home sales were up 24% from the same time last year. June is typically one of the stronger months for home sales.  The prices of homes are also on the rise with an average sale price of just over 142 thousand dollars, a 10 percent increase from the same time last year.

Nearly 1 in 4 Ohio mortgages are underwater, according to numbers from real estate data company Zillow Inc. US Senator Sherrod Brown says that’s why he’s introducing legislation to speed up what’s known as short sales.

A new monitor's report released this week shows that more than 7,000 Ohioans have gotten more than $280 million from the national mortgage settlement a year ago.

The report released this week by the Office of Mortgage Settlement Oversight summarizes data provided by the five mortgage servicers involved in the settlement: Ally, Bank of America, Citi, JPMorganChase, and Wells Fargo.

Settlement benefits included loan modifications, forgiveness and deficiency waivers.

Foreclosures Affect Those Who Can Afford Mortgages

Jul 20, 2009

The Dayton neighborhood in which Harriet Parker and her husband, Oscar, live has neatly trimmed lawns and block after block of ranch style houses. She's raised four children in this well kept home. Now, she watches her young grandchildren there during the week. She's not sure how long she'll be able to continue helping her kids with daycare, especially after she received a letter informing her that she owed nearly $92,000 in a balloon payment to her lender.