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florida mortgage planning: 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 today stated the obvious, a record 26% of US homeowner's say the value of their hoes has fallen during the past year. The survey also showed 21% of homeowners expect their homes value to decline in the year ahead. OK, the news ran with that, but take a different look at … (4 comments)
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florida mortgage planning: 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 trying to save money, encourages adding more debt, and may even create more inflation.
All of that may occur, but the reality is that the rate cut will not help homeowners who are already in trouble, so it does little to help the credit crunch. And what about mortgage rates themselves? What about … (5 comments)
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florida mortgage planning: 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 myself.
Now the Fed is reacting, cutting rates by 1/2 percent and scrambling to crack down on abusive and bad lending practices. Big Ben was speaking before Congress today and stated that the "Federal Reserve takes responsible lending and consumer protection very seriously...We are committed to preventing problems problems from recurring, … (2 comments)
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florida mortgage planning: Mortgage Market Meltdown: Is the World Really Coming to an End? - 08/11/07 12:44 PM
It is hard to turn on the TV or radio and not hear about the turmoil happening in the mortgage markets and real estate these days. But, is what you are hearing really blowing it out of proportions?
Down here in Florida, particularly in South Florida, it may have more of an effect. Why? We seem to have a larger than normal portion of non-conforming loans. However, there is still no cause for panic as they are still the majority of the overall market.
So, let's put things into a little perspective. How bad is it really, especially when we consider how things … (7 comments)
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florida mortgage planning: Fannie Mae Unable to Assist Mortgage Market's Problems - 08/11/07 10:34 AM
Late yesterday, The Office of Federal Housing Enterprise Oversight denied Fannie Mae's (FNMA) request to increase its portfolio beyond the $727 billion limit currently in place (as of May 2006). This was despite arguments from senior Democrats and the company stating that the change would provide much needed stability in the mortgage market.
Several major mortgage companies have complained about the inability of selling loans to investors (the secondary market) and FNMA said it could pump liquidity into this area. President Bush said that any changes to FNMA or Freddie Mac (FHLMC) should come about after Congress completes a reform package.
The announcement … (5 comments)
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florida mortgage planning: Mortgage Market Meltdown - The Saga Continues - 08/03/07 07:55 PM
No doubt you have been hearing a lot about the changes taking place in the mortgage market over the last 4 days involving every loan except conventional conforming ones. My previous post, Mortgage Market Meltdown - Will it be Subprime Only? (dated July 11th), talked about how the effects of the subprime market was going to spill over into the rest of the markets, including A-paper. Well, that is what is happening right now.
Call it what you will, liquidity crisis or whatever, the effects are easy to see. As I was quoted in MarketWatch today, "If something is perceived as … (5 comments)
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florida mortgage planning: Florida Mortgage Question: Adjustable or Fixed Rate: Which One Should You Choose? (Rewritten for Clarity) - 07/31/07 10:01 PM
In my previous post, Adjustable or Fixed Rate: Which One Should You Choose?, I was rushed and the article did not flow well. I have taken the time to rework it a little and make it more fluid for more clarity and to better serve the reader...
With all of the media reports about how bad ARMs and exotic mortgages are, you would first jump to the conclusion that Fixed Rate Mortgages (FRMs) are clearly the better deal. I am sure you have seen the reports of the subprime woes and how many families have been forced into foreclosure due to these … (4 comments)
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florida mortgage planning: Florida Mortgage Market - Forecast for the Week - 07/30/07 09:01 AM
Stock earnings reports will continue this week which could create some volatility as it has already. Additionally, there are several big potential market movers on the economic calendar for this week.
The fireworks will begin on Tuesday with the Fed's favorite inflation guage, the Personal Consumption Expenditure index (PCE) to be released along side the Employment Cost Index (ECI) at 8:30. These reports will be quickly followed by the Chicago PMI at 9:45. Wednesday will release the ISM Index, another typically heavy hitter for the markets. Thursday will be relaively tame with only the Initial Jobless Claims, but Friday will end the … (0 comments)
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florida mortgage planning: Fed Releases New Study on Paying Off Your Mortgage - 10/04/06 09:54 PM
The fed is finally starting to realize what we have been teaching for years, that properly integrating your mortgage into your financial plan is a powerful way to supercharge yourself to financial freedom. They conducted a study to determine whether it is better to payoff your mortgage or instead invest your money in a tax deferred retirement account. The answer will not surprise you, as you've heard me talk about the benefits of using your mortgage as a financial tool for quite some time.
Here are a few key points derived from the study:
We show that a significant number of households … (7 comments)
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Robert D. Ashby
Miramar,
FL
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Address: 11758 SW 26th CT, Miramar, FL, 33025
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