'Heartless' child-murdering mom gets life after tormenting hubby

Category: Home Equity Loans
Published: Tuesday, 12 January 2016
Written by Super User

Puzzled family members of an Arizona woman who admitted drowning her 13-year-old son and suffocating her 10-year-old daughter in a Santa Ana hotel room were trying to figure out Saturday what the killer meant while being sentenced to life in prison when she said she killed her kids to protect them.

Marilyn Kay Edge. Photo via Orange County District Attorney’s Office

Marilyn Kay Edge, 44, of Scottsdale, apologized to her ex-husband’s family while being ordered to prison for life without parole.

I’m sorry for failing my children as their mother and believing this was the only choice I had to protect them, she said. I pray they (the victims’ family members) get peace.

A judge had ordered her to return her son Jaelen and daughter Faith to their father in Georgia by noon on Sept. 15, 2013. Just after 8 am the following day, Edge crashed a gray Honda Accord into steel poles protecting an electrical vault in the parking lot of an Albertsons supermarket in Costa Mesa.

When she was pulled from the vehicle, Edge -- who had a cord wrapped around her neck -- told police about her children, and officers found their bodies inside the Hampton Inn amp; Suites near the interchange of the Costa Mesa (55) Freeway at Dyer Road.

Their father told Orange County Superior Court Judge James Stotler about years of lies and false allegations his former wife made against him in divorce court in Georgia, which he said led to his jailing for the first time in his life.

He said he had to pay hundreds of dollars for supervised visits with his children due to their mother’s false allegations, and child support at times amounted to half his monthly salary.

Edge detailed how the couple’s relationship, which was often tumultuous, took a turn for the worse when his son was diagnosed at 2 with autism. He said he accepted the boy’s diagnosis and studied up on how to help his son, but his wife turned to junk science that offered a cure for the condition.

He accused her of using his credit card and taking out home equity loans to pay quacks for phony cures. He said he attempted to be cordial with his estranged wife despite their differences, but she would foster pointless conflict when he sought visitation with the children.

And when he fell for someone else, the situation deteriorated further, he said, calling his former spouse an uncaring, heartless, greedy, manipulative child abuser.

Edge said he took a job in Afghanistan with the military to keep up with his child support payments and, while there, was accused by his ex-wife of abandoning their children. He couldn’t fight the claim in court from so far away, and was left broke and stranded in Afghanistan, Edge said.

After the hearing, Stotler apologized to the Edge family for the failings of the family law court in Georgia.

His sister, Jennifer, recalled the chilling scream on the phone when he told her his kids had been murdered.

It shook the core of my being -- the scream I heard over the phone, she said.

When the defendant lost custody of her children, she drove them out of Georgia out west instead of dropping them off with their father.

She subdued both with an over-the-counter sleeping medicine before killing them, with Jaelen the first to die by being drowned in the hotel bathtub. The running water roused Faith, who got up and stumbled over to a couch, where her mother took a pillow and suffocated her, according to a grand jury transcript.

The defendant had carried a propane tank from her car into the room, hoping that the fumes would kill them all, but she did not open the valve correctly, according to the grand jury transcript.

After she killed the children, she put the propane tank into the car and put a belt around her neck before crashing the vehicle, hoping the propane would explode and kill her, according to the transcript.

After both children were dead, Edge dragged her daughter back to the bathtub so she could be with her sibling, according to the grand jury record.

The sentencing took place Friday.

-- City News Service

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New Home Equity Loan Product Solves Homeowners' Needs

Category: Home Equity Loans
Published: Tuesday, 12 January 2016
Written by Super User

IRVINE, Calif., Jan. 6, 2016 /PRNewswire/ -- Seven years after home values collapsed, nine out of ten homeowners today now have positive equity,1 with many accessing their newly gained liquidity to address important needs such as home improvements, debt consolidation, education, business loans and more, according to loanDepot, Americas lender.

With home price appreciation on the rise in many housing markets across the country, home equity loans nationwide increased 4.2 percent in the third quarter 2015.2 Home prices are expected to moderate slightly in 2016, rising between 4.3 percent3and 4.9 percent.4 An additional 5 percent in price appreciation will be enough to move another 800,000 homeowners into positive equity positions and raise the total number of homeowners with equity to 47.3 million.5

In the last three years median home prices have increased by more than 15 percent6 and nearly 7 percent in last 12 months7 alone, helping millions of homeowners restore equity lost during the housing crisis, said Anthony Hsieh, chairman and CEO, loanDepot. Based on current market trends, we expect more residential properties will continue moving into positive equity positions. This will help open up low cost liquidity to millions of newly equitized homeowners, particularly those reluctant to abandon their low fixed-rate first liens.

Introduced nationwide in September 2015, fundings of loanDepot home equity loan products have nearly doubled every month since launch, with average loan amounts on the rise ranging from approximately $40,000 to nearly $60,000. loanDepot is the first marketplace lender to offer home equity loan products to borrowers across the country, and the only marketplace lender to offer unsecured personal, home purchase, refinance, and home equity loan programs.

A significant challenge for many homeowners today is that they dont know if their home has regained equity, and theyre unclear on how to determine the value of their home, said Hsieh. As more homeowners become aware of their improved equity positions, our data shows theyll use their recently gained equity for debt consolidation, home improvement, education, or small business needs, among other uses.

loanDepot home equity loans enable homeowners to access equity in loan amounts ranging from $25,000 to $250,000. Fixed terms are offered up to 30 years with up to 95 percent loan-to-value available for certain borrowers. Since a home equity loan is a secured debt, the interest rate is typically lower than the average rate changed on a credit card or other form of unsecured debt. Home equity loans also offer potential tax savings as interest payments may be tax deductible. There are no pre-payment penalties so borrowers can pay off principal anytime.

In addition to debt consolidation, many loanDepot home equity borrowers are putting their equity to work to meet major needs for home improvements. The Harvard Joint Center for housing Studies projects annual spending growth for home improvements will accelerate from 2.4 percent between the third-quarter of 2015 to 6.8% in the second quarter of 2016.8

Homeowners considering a home equity loan can easily receive information on how to obtain an estimate of their homes current value by talking to a licensed loanDepot loan officer. For more information, call 888-983-3240 or go to http://www.loandepot.com/HomeEquity

loanDepot, Americas lender, matches borrowers through technology and high-touch customer care with the credit they need to fuel their lives. As a fast-growing national marketplace lender, the loanDepot platform is disrupting finance by dissolving the lines between mortgage and nonmortgage credit.The company has funded nearly $60 billion in loans since inception. loanDepot is passionate about emerging financial technology and dynamic product delivery supported by excellent customer service to empower consumers. Headquartered in Southern California, loanDepot employs 5,000+ people across the country including 1,500+ licensed loan officers, and operates 140+ loan stores nationwide. The company operates under the brand names loanDepot, imortgage, Mortgage Master, LDWholesale and LDEscrow. NMLS # 174457Learn more atloanDepot.com

2 http://www.insidemortgagefinance.com/issues/imfpubs_imf/2015_48/latest_data/Home-Equity-Lending-Up-Slightly-in-3Q15--1000034855-1.html
3 http://www.freddiemac.com/finance/pdf/nov_2015_public_outlook.pdf
5 http://www.corelogic.com/about-us/researchtrends/homeowner-equity-report.aspx#.VnmDIL3RscM
6 CoreLogic 2013, 2014 and 2015 HPI price reports - http://www.corelogic.com/research/hpi/corelogic_hpi_october_2015.pdf
7 http://www.corelogic.com/research/hpi/corelogic_hpi_october_2015.pdf
8 http://www.jchs.harvard.edu/remodeling-spending-expected-accelerate-2016

Julie Reynolds | loanDepot
949.899.0749 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Brittney Jennings | Ogilvy Public Relations
312.397.6061 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Photo - http://photos.prnewswire.com/prnh/20160105/319503

Logo- http://photos.prnewswire.com/prnh/20120829/SF64465LOGO

SOURCE loanDepot, LLC


EconoMeter predictions for 2016

Category: Home Equity Loans
Published: Tuesday, 12 January 2016
Written by Super User

Answer: Interest rates

I will be watching key interest rates, such as the yields on two-year and five-year Treasury notes. Along with confidence in the health of the US economy, these will reflect the pace at which the market predicts the Federal Reserve will move to normalize interest rates. Meaningful increases in short- and medium-term interest rates will directly impact bond investors and borrowers with adjustable-rate mortgages, home-equity loans, credit cards, auto loans, and business loans.

Gina Champion-Cain, American National Investments
Gina Champion-Cain

Wells Fargo (WFC) Upgraded to Strong-Buy by Vetr Inc.

Category: Home Equity Loans
Published: Tuesday, 12 January 2016
Written by Super User

Several other research analysts also recently commented on the stock. Citigroup Inc. raised shares of Wells Fargo from a neutral rating to a buy rating and raised their price target for the stock from $51.88 to $60.00 in a research note on Thursday. Deutsche Bank reiterated a buy rating on shares of Wells Fargo in a report on Tuesday, December 29th. Jefferies Group reiterated a buy rating and set a $59.00 target price on shares of Wells Fargo in a report on Monday, December 7th. Piper Jaffray reiterated a hold rating and set a $51.00 target price on shares of Wells Fargo in a report on Thursday, December 3rd. Finally, Susquehanna dropped their target price on shares of Wells Fargo from $62.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, November 17th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $58.96.

Wells Fargo (NYSE:WFC) opened at 49.56 on Monday. Wells Fargo has a 12-month low of $47.75 and a 12-month high of $58.77. The stock has a market capitalization of $253.14 billion and a PE ratio of 11.97. The stocks 50 day moving average is $54.33 and its 200 day moving average is $54.64.

Wells Fargo (NYSE:WFC) last posted its quarterly earnings results on Wednesday, October 14th. The financial services provider reported $1.05 EPS for the quarter, topping the Thomson Reuters consensus estimate of $1.04 by $0.01. The company earned $21.88 billion during the quarter, compared to analysts expectations of $21.75 billion. During the same period in the prior year, the business earned $1.02 EPS. The companys quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts anticipate that Wells Fargo will post $4.15 EPS for the current fiscal year.

Wells Fargo Company is a financial services and bank holding company. The Companys segments are Community Banking, Wholesale Banking, and Wealth and Brokerage and Retirement. The Companys Community Banking segment offers a range of financial products and services for consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student and small business lending. The Community Banking segments products include investment, insurance and trust services, and mortgage and home equity loans. The Community Banking segments products and business segments include middle market commercial banking, government and institutional banking, corporate banking and commercial real estate, among others. The Companys Wholesale Banking segment provides a range of financial solutions to businesses across the United States and around the world. The Wealth and Brokerage and Retirement segment provides a range of financial advisory services.