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ginnie: Falling Rates - 11/25/08 09:45 AM
The Fed’s just announce that they will purchase up to 600 Billion of Mortgage Back Securities from the Big Three (Fannie, Freddie and Ginnie)
This has already had the effect of lowering interest rates TODAY. While I am not a huge fan of refinancing, most of the time people send the savings instead of putting it back into the property; this could be an excellent time to check out your options.
I don’t see the market recovering prices anytime soon in the next few years so lowering your official payment could give you the opportunity to pay down the … (0 comments)
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ginnie: One foot on the gas, one on the brake - 11/25/08 08:33 AM
In our current economy, it seems like we have one foot on the gas and one on the brake. One the one hand we are hearing from the government that lenders are not lending enough of the bailout money to consumers.
When you look at this and tie it into the “Mark to Market” accounting practice then you realize that all the money we are infusing to the banks will NOT go to loans but instead boost the capital reserves of the individual bank.
Think of it this way, if I am servicing one million dollars of loans, which would … (0 comments)
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David Rider
Tempe,
AZ
More about me…
Peoples Mortgage Company
Address: 3215 W Ray Rd, Chandler, AZ, 85226
Office Phone: (480) 788-9221
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