Andy's Blog

Pet Owner to Sue Bank of America A home owner in Gibsonia, Pa., about 15 miles north of Pittsburgh, has sued Bank of America because it sent a contractor to turn off the utilities in her home and secure the property because it erroneously believed she was in default. In the process, the contracto...

Mortgage Rates Remain Steady Freddie Mac reports that mortgage rates remained under the 5 percent mark for the second consecutive week, with the average interest on a 30-year fixed loan coming in at 4.95 percent from 4.97 percent a week earlier. Meanwhile, interest on 15-year fixed loans averaged...

Future Foreclosures Could Hamper Housing  In spite of signs of a recovery, many home buyers are continuing to fall behind on their mortgages. Some economists see this as an indication that a second major wave of foreclosures is likely, even though the housing market appears to be stabilizing. Thi...

Eat The Frog: The Most Important Thing You Need To Do Everyday!! Let's face it we all procrastinate, we avoid doing the hard things, we avoid doing the things that matter, we do the busy work and not the productive work. We go into the office and busy ourselves with things that do not matter, say...

Rate of New Foreclosures Shows Decline The national foreclosure rate is moderating with the number of foreclosures in February rising 6 percent compared to February 2009, the lowest year-over-year increase in four years. Foreclosure filings, including default notices, scheduled auctions, and bank...

Recent Uptick in Mortgage Applications The number of mortgage applications for home purchases increased 5.7 percent last week compared to the previous week on a seasonally adjusted basis and was up 7.2 percent on an unadjusted basis, according to the Mortgage Bankers Association weekly survey. Ov...

GMAC Unloads Mortgages at Auction GMAC has auctioned off $250 million of troubled mortgages and securities but is offering no details other than that it was very pleased with the bid process. GMAC, which has billions of dollars of problem mortgage assets along with its Residential Capital LLC hom...

Fewer Sellers Are Cutting Prices The prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year, according to Trulia.com. In October and November, when the market was feeling the effect of the tax credit, 26 percent of sellers cu...

Mortgage Rates to Stay Low, Goldman Predicts  Investment bank Goldman Sachs recently predicted that mortgage rates won't rise much when the Federal Reserve ends its purchases of mortgage-backed securities at the end of March. Part of the reason is that demand for mortgages is low, says Goldman an...

Mortgage Rates to Stay Low, Goldman Predicts  Investment bank Goldman Sachs recently predicted that mortgage rates won't rise much when the Federal Reserve ends its purchases of mortgage-backed securities at the end of March. Part of the reason is that demand for mortgages is low, says Goldman an...