florida mortgage: Florida Mortgage Rates Hit 4.5% - 12/05/08 09:07 AM
Florida Mortgage Rates have reached the lowest they have ever been on a 30-year fixed rate mortgage, as mortgage rates have dipped to just 4.5%, falling below even the lowest rates seen in 2003. Now, more than ever, homeowners should be rushing to refinance or purchase homes as these rates may … (10 comments)
florida mortgage: An "Obama Nation" Brings New Life to Mortgage Planning - 11/05/08 01:07 PM
Ever notice how Obamanation, a term being thrown around a lot, sounds eerily similar to abomination? OK, we won't dwell on that, but let's look at Barack Obama's past and how his actions speak for him more than his words. Then we will relate them to how that equates to an … (4 comments)
florida mortgage: It is With Great Sadness That I am Writing This - 09/17/08 08:21 AM
If you have been reading the Florida Mortgage Report for a while, you undoubtedly have read some of the posts about home equity and how easily it can be wiped out in a disaster. Every year as hurricane season approaches, I inform readers to make sure their home equity is prepared … (3 comments)
florida mortgage: Fannie Mae and Freddie Mac: Doomsday of the Financial World? - 09/12/08 11:06 AM
Many have inquired about my take on the government's takeover of Fannie Mae and Freddie Mac, even some in the media. I had been sitting be the wayside, actually taking care of business, and had set the issue on the back burner, until now.
Just why in the heck did the … (9 comments)
florida mortgage: Emotions and Finances (Including Mortgages) Should Not be Mixed - 08/25/08 03:30 PM
Hopefully, you have not learned this rule the hard way. The bottom line is whenever you make any financial decisions allowing your emotions to enter into those decisions, you will lose money, and usually lots of it.
I know that all of you are likely emotional about your finances. Those … (3 comments)
florida mortgage: Just How Hard Is It to Make Money? - 06/06/08 04:35 PM
You know I am an advocate of investing versus paying off your mortgage, at least until you have your entire financial and investment plans fulfilled. You know that the reasons come down to liquidity, safety and rate of return, the latter being the point I am going to target today. … (4 comments)
florida mortgage: Big Brown Wins Kentucky Derby: Are You Winning That Rate Shopping Game? - 05/04/08 10:01 AM
Many thought Richard Dutrow, Jr. was, dare I say, egotistical since he was saying this week that his horse, Big Brown, would win the Kentucky Derby. Many thought he was overconfident and that the odds would prove that since they were against "inexperienced" horses. Nevertheless, Big Brown did pull off the win. … (3 comments)
florida mortgage: Money Merge Accounts: My Sincerest Apologies to Those With MMAs - 01/15/08 10:24 AM
I have some regret that I have to admit to about these programs. I feel like I failed consumers by allowing them to be misled for far too long. The truth of the matter is that I have done some more calculations, many of which I should have done back before … (19 comments)
florida mortgage: This is a "Be Careful What You Wish For" Post - 12/04/07 09:37 PM
Recently, I began asking for more testimonials, something I usually do not do as I would like to think I would receive them when my services warranted. Then I read something, somewhere that showed statistically that if you do not ask, you will not receive. Well, being the numbers kind of … (9 comments)
florida mortgage: Really Simple Currency Investing Creates More US Money - 11/29/07 11:17 AM
Ok, as promised, here is what would have happened with your $10,000 investment when converted back to today's USD during the same time as my previous post's housing comparison. For a quick overview, this chart is based on you simply converting $10,000 USD to another currency and switching it back to … (6 comments)
florida mortgage: Just How Cheap is That House in Florida for Foreigners? - 11/29/07 11:12 AM
(Disclaimer: I know I said I would not be posting, but I did this one and will add the other simply because you will probably not see an analysis quite like this anywhere else...You should read both posts today) For those of us here in the states, we see our home prices … (3 comments)
florida mortgage: Would You Rather Spend $6 to Save $4 or Spend $4 to Earn $6? - 11/28/07 01:57 PM
When you look at these numbers, it doesn't seem to really matter, does it? After all it is only a difference of a couple of dollars. Yet, look closer and you will see that in the first scenario you are losing $2 while in the second scenario you are gaining $2. … (5 comments)
florida mortgage: Why Aren't Homes Selling? This Should be a Clue - 09/21/07 12:52 PM
Ever wonder why there doesn't seem to be any homes being sold in your area? Granted some areas are doing well, but a survey released today from Reuters/University of Michigan provides an insight as to one possibility. The survey revolves around the homeowner's perception of their own home values and the headlines … (4 comments)
florida mortgage: Will the Fed Regret Cutting Rates? - 09/20/07 11:10 AM
With the 50 basis point cut on the Fed Funds Rate, what is going to happen, and could it ultimately have the opposite effect? Sure, it will help many ARM holders, as well as those with HELOCs, credit card balances and some others. But what about the long run? It hurts those … (5 comments)
florida mortgage: Government Reacts Now That Enough "Blood" Has Spilled - 09/20/07 11:07 AM
It never ceases to amaze me how much the government reacts, usually overreacts, to things long after they have been done. Take the subprime mortgage meltdown, for instance. No reaction until enough turmoil (bloodshed) has developed and after it spilled over beyond the "subprime" sector, which had been forecasted, even by … (2 comments)
florida mortgage: Is Your "Lost Home Equity" Working for You? - 09/18/07 11:22 AM
I am sure you are asking yourself, "what the heck is this guy talking about?" Well, if you have been focusing on paying off your mortgage, you probably have no clue. Here is what I am talking about. You may have missed this stat recently released...US 2Q Homeowner's Equity Falls to 13 … (0 comments)
florida mortgage: Did Anything New Come Out of the Hole? Jackson Hole that is. - 08/31/07 12:45 PM
As you more than likely already heard, Big Ben Bernanke was speaking today in Jackson Hole, Wyoming. What is amazing is how investors and analysts really wanted to get him to say if the Fed Funds Rate was going to get cut on Sept. 18th. Yeah, like that was going to … (4 comments)
florida mortgage: Finally, Reality Gets Some Recognition - 08/30/07 11:17 AM
I have talked to many a person, probably even blogged about it, but the media is finally letting the news out. That is about the reality surrounding foreclosures. We have heard time and time again about the rampant increase in foreclosures and we even hear the government talking about the need to … (2 comments)
florida mortgage: OK, Apparently not Everyone is Getting it? - 08/30/07 09:50 AM
What am I talking about? How mortgage interest rates are driven. I continue to see so-called experts, politicians, etc. stating that a Fed rate cut will help adjustable rate holders. That is not the reality. What drives mortgage rates are Mortgage Backed Securities (MBS). These are the bonds that are a "package" … (2 comments)
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Florida Mortgage Rates have reached the lowest they have ever been on a 30-year fixed rate mortgage, as mortgage rates have dipped to just 4.5%, falling below even the lowest rates seen in 2003. Now, more than ever, homeowners should be rushing to refinance or purchase homes as these rates may … (10 comments)
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