mortgage: Mortgage Rates Shooting Up Again - 07/28/08 08:15 PM
WASHINGTON — Mortgage rates shot up this week with 30-year mortgages climbing to the highest level in nearly a year, reflecting concerns in financial markets about the troubles at corporate giants Fannie Mae and Freddie Mac.
Freddie Mac reported Thursday that its nationwide survey showed rates on 30-year mortgages surged … (1 comments)
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mortgage: 4 Plex in Pittsburg, CA for Just 205K! - 07/28/08 07:35 PM
Are you looking for investment property? You have got to check out this property in Pittsburg CA. This is a four plex with all units already rented out. Only asking $205k. It would be quite simple to get a monthly cash flow from this property so if you or your buyer … (0 comments)
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mortgage: FNMA/Fannie/Fannie Mae’s 1st quarter results showed a loss of $2.2 billion - 05/07/08 01:37 PM
In another blow to brokers, it was announced last week that Countrywide closed 16 wholesale loan centers. This, of course, re-ignited the discussion of what Bank of America will do with Countrywide’s three business channels: retail, wholesale, and correspondent. Generally speaking, retail is viewed as “the surest thing”, but there are … (0 comments)
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mortgage: What do WAMU and Wachovia Have in Common? - 04/15/08 12:41 AM
They both need/needed at least $7 billion in additional capital to stay afloat. Wachovia, the fourth-largest U.S. bank, reported an unexpected loss because of subprime- infected mortgage holdings, cut its dividend, and said it will raise about $7 billion in a share sale to replenish capital. The company's market value has … (0 comments)
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mortgage: Do Down Payment Assistance Programs Exist? - 03/03/08 11:52 AM
Do Down Payment Assistance Programs exist? Loan agents will know more about this than I could ever put in a few sentences, but a true DAP is like Nehemiah where they “gift” the borrower all the down payment funds in return for charging the seller a fee. These work almost exclusively … (1 comments)
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mortgage: Round Two For Bernanke - 02/28/08 06:10 PM
Do Fed chairmen always say, “"the FOMC...will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks."? When wouldn’t this be the case? Federal Reserve Chairman Ben S. Bernanke signaled the U.S. central bank is prepared to lower interest rates again even amid … (4 comments)
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mortgage: Conforming Loan Limits Gaining More Critics. - 02/26/08 12:46 PM
As time passes, more and more critics of the conforming loan level changes are voicing their opinions. As everyone, and their brother, knows, the conforming loan limit will temporarily rise to 125% of an MSA’s median price with a cap of $729,750 and a floor of $417K, retroactive to loans originated … (1 comments)
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mortgage: Last Week of February Mortgage Chatter - 02/25/08 01:37 PM
The market seems to be comfortable, in the short-term, with rates where they are: the 10-yr around 3.80% and conforming conventional 30-yr ranging from 5.75-6.25, depending on if the borrower wants to pay or receive a rebate. (Mortgages are worse by about .125 this morning.) The only news out today – … (0 comments)
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mortgage: Watch Your HELOCs!! - 02/22/08 07:21 PM
Beware if you depend on your HELOC! Many banks are freezing HELOCs across the board because of the declining market conditions. I would recommend fully drawing what equity that is available to you and put it to work. A great investment would be in Tax Lien Certificates. If you or anyone … (2 comments)
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mortgage: Something Doesn't Fit - 02/22/08 07:16 PM
Something doesn’t quite fit. Can the economy really support higher rates when retailers like The Sharper Image and Lillian Vernon have declared bankruptcy? Or a city here in the San Francisco Bay Area (Vallejo) makes the headlines for being near bankruptcy? Thus the belief that although there will be blips up, … (0 comments)
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mortgage: Contra Costa All Day Real Estate Wholesale Workshop for FREE!! - 01/21/08 06:48 PM
Have you ever wanted to invest in Real Estate but maybe you did not have the support you needed in order to take those first steps?
Join us in San Ramon on February 2nd for a FREE all day Real Estate Wholesale Seminar. At this workshop you will learn from a … (0 comments)
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mortgage: Has Your Computer Ever Crashed? - 01/21/08 01:29 PM
Last week my computer crashed! This is always a pain and never convienient. However I would like to take my hat off to a local Computer Sales and Service store right here in Pleasant Hill. The customer service is top notch with very competitive pricing for all service. I've tried using … (3 comments)
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mortgage: What Happens If Countrywide BKs? - 01/08/08 12:37 PM
Many of us have noticed that Countrywide's stock price is down 20% this morning, into the $6 range. The price is down based on rumors of a credit downgrade and possible bankruptcy filing.
An business partner of mine, who works for a large investment bank, wrote to me and said, “Investors … (15 comments)
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mortgage: Who do You Know that is Being Forclosed On? - 01/07/08 08:00 PM
The pace of defaults on privately insured mortgages soared almost 35%, reaching the highest level since the data was first collected in 2001, according to data from MCIC, PMI, AIG, Old Republic, and Triad. The association said 61,300 insured borrowers were at least 60 days late on payments in November. That's … (4 comments)
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mortgage: Upcoming Networking Events In Pleasant Hill! - 01/04/08 06:23 PM
As a Director with the Pleasant Hill Chamber of Commerce I would like to inform the community of some great networking events! If you are a small business owner in Pleasant Hill you need to come meet some of our community members. I'ts a great way to create relationships and meet … (1 comments)
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mortgage: Californian's Stop Complaining!! - 01/04/08 06:12 PM
A fierce winter storm pounded California on Friday, soaking mudslide-prone canyons already charred by wildfires and threatening to paralyze the mountains with deep snow. Read the Rest Here
Yeah the storm is stronger than one we've seen for a long time but geeze I wish people would quit whining. Almost everyone … (2 comments)
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mortgage: Can I Please Just Talk to a Human! - 12/28/07 09:24 PM
OK, I just had to share this website. I stole this from a fellow Active Rain Blogger but this has to be shared.
Do you ever get frustrated on the phone listening for prompts and never getting anywhere? Well if you visit www.GetHuman.com they have directions on how to bypass almost … (7 comments)
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mortgage: Consumers On the Fence While Investors Make a Killing. - 12/28/07 05:24 PM
So housing sales are at a 12 year low
and everything is grim right? That is what I keep hearing from the media, consumers and almost everyone I speak with. When I tell them I'm in Real Estate they say "Ohh, business is rough huh?" The fact is that it's not. … (1 comments)
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mortgage: Outlook for 2008 is More Cloudy Than Ever! - 12/27/07 09:35 PM
I always like to be as optimistic as possible, and nobody would deny that 2007 has been a difficult year in the mortgage industry. However it does leave a lot of opportunity for dedicated loan officers that refuse to simply quit when the financial winds change. A huge chuck of my … (3 comments)
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mortgage: Financial Formula for Disaster! - 11/09/07 03:24 PM
Our FED Chairman Ben Bernake has proposed that Jumbo loans be guarenteed by the US government! You can read all about it HERE Financials are truly in trouble and the forecast is it will get much worse! At this point it seems the FED is being run by the stock markets … (0 comments)
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mortgage: FED Cuts Rates Just As Expected! - 10/31/07 03:05 PM
Fed cuts rates just as expected
This rate cut is unlikely ot effect longterm mortgage rates significantly. However it may stimulate buyers back into the market place where they will still have the negotiating power over sellers. The housing correction is expected to continue on for at least the next … (2 comments)
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mortgage: Why Buying a Home is a Good Idea - 07/05/07 08:49 PM
As a fairly general rule, homes appreciate about four or five percent a year. Some years will be more, some less. The figure will vary from neighborhood to neighborhood, and region to region.
Five percent may not seem like that much at first. Stocks (at times) appreciate much more, and you … (2 comments)
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