You are not alone.

There is a wave, albeit small where people are deciding that they have had enough with fixing things, making mortgage payments and suing the neighbors.

There are examples of people that have seen taxes go up even though they have equity and have refinanced to today's low mortgage rates (see usloans.com for live rates) and still have payments that are higher than what they can rent a similar property for.

The supply and demand features are still important because you do want to have someone who wants and can afford to buy your house!

Are you one of these people?  Here's a way to figure it out.

Take the cost in the last few years of things you pay for that your landlord normally would.  Divide it by the number of months and add that number to your mortgage payment.

Then take the amount of equity you have and multiply that by 3% and then divide by 12.

Then add that amount to the previous two numbers.

What did you get?  The total that you are really paying per month.

If rents are significantly lower than that and you don't think properties are going anywhere in value in your area any time soon?  Then, sell.

Cold hard numbers, I know.  You'll have to put your own emotions into it.

But, if you are in the Philadelphia, San Francisco or Los Angeles area....let's talk :)  

The people and mission of the CFPB is to make sure that the Consumer (yes, the first name of the organization) are not ripped off.

But, did the Fed LO Comp rule promote the abuse of the public?  Let's look at how.

1. No discounts from yield spread.  You can't help someone by paying anything. 

Have an extension because of a review appraisal ordered by a lender that ordered the original appraisal from the AMC that they hired?  Too bad, consumer pays. 

2. Lower loan amount borrowers either pay points (lots of them) or they go to a bank that can charge them up front AND make all
the SRP/YSP that they want while giving them terrible service from a call center.

3. Lenders allow minimums from YSP.  OK, here's where the s#*t should really hit the fan.

Say you have a lender minimum of $5000 for YSP because you do $150,000 and $1,000,000 loans.  So what you have done is because you need to be very competitive with your high loan amount loans, you will leave your lower dollar borrowers to pay.  Sounds like a tax system?  Well, it is.

I can do the middle class is paying for the rich, blah, blah but I am not going to go there.  What this is about is bringing fairness for ALL consumers back by killing the Fed Rule.

The Fed (the same guys that gave out the secret Zillions to banks) seem to have a plan to help their member banks with the LO Comp rule and HVCC but it seems to be coming back to haunt them.

Appraisal fraud is way up and good deals are dying that could help stimulate the economy.

A challenge to overturn?  Sure. But, the CFPB seems to be an agency that wants to help consumers, are willing to work with the industry and is willing to listen to reality.

We need to humanize the negatives. Please forward this post along to everyone you know that is being harmed by the rule (and HVCC) and ask them to contact the CFPB with specific incidents.

Gov. #Romney and I actually agree on something! Tune into #CNBC at 4:40PM ET today to find out what!

If you miss it, you can catch the video on Fredglick.com later today!

I just had a mortgage I originated over a year ago close.

No, it was not in underwriting with a large bank that where it fell through the cracks. No, it was not because of an HVCC picked appraiser that took too long because she was serving time for animal cruelty convictions. No, it was not delayed because the condo association secretary could not get it together to get the condo form filled out. And last but not least it was not because of real estate agents that think they are still in high school were too busy picking their noses to get the right paperwork together.

It was the fault of the following, Homeland Security, the Philadelphia's Sheriff office, Fannie Mae and a cast of hundreds.

First, kudos to Mitch Cohen of Premier Real Estate who from the start kept the deal alive and kicking. Mitch sold a nice condo unit to a lovely couple, he British and she Chinese, in a building that was 90 percent investors.

That alone would make the property unkosher for financing. But, alas, since the property was a foreclosure owned by Fannie Mae, they were happy to help dispose the unit with no appraisal, no PMI and no condo approval (remember the 51percent owner stuff).

Ok, we got passed that. Now on to Homeland Security where the green card that was promised had yet to arrive. Finally, after a few long months, there it was. OK, that issue resolved. Good news. Now the nitty gritty title work.

What the title company found was that the sellers had not only screwed up the deed royally, the Sheriff's department lost the deed and could not find the money. 

They also told us whe they did find everything that it would take over a month to get it filed. A needless to say a month became 3, three became 6 and finally, a year later, we were able to close.

Don't you just love this business!

The subtle winds of Fall have approached the east coast.   Soon, fireplaces will be lit, hot chocolate will be made, overcoats will return from the secured confines of a cedar closet.

Both the NFL and NCAA football will have the top tier teams evolve into the forefront of America's frontal lobe along with thoughts of holiday shopping because of the ever elongated December selling season.

OK, you get the picture.

So now, the people that want or have to sell their home, I have one suggestion.   Don't.

That's right, do not list your home for sale this time of year.

What's that?  You really need to?  You must move for a job or you are having your third kid and live in a one bedroom condo.

OK, OK......I get it.  Now, go up to the bathroom, look in the mirror and say the following: "I will list my house at a price that will sell.   I will list my house at a price that will sell.   I will list my house at a price that will sell.   I will list my house at a price that will sell."

If you do not have to put your face in the john after you've said this, contact your real estate agents (or me of course :) and say to them "I will list my house at a price that will sell."

A great agent will understand this, find out the comps, know the price and will be able to market it that way.

Yes, I have taken listings where the house was overpriced by $200,000, yes $200,000 but it was with someone that understood the risk, it was later November and he did not need to sell.  I had to prove to him how nuts he was.  But, those days are over.

Buyers seem to hear something that makes sense to them that they should absolutely bid about 20% less for every home they see when in fact sellers and their agents mostly try to price at what it should sell near.

So, it's a zoo out there from the buyer and seller side.  Hopefully, the negotiators, the agents, will be able to put buyers and sellers together happily!

Gee, is it Spring Training already?