FHA loans need to go.... so many defaults... GROWING by the thousands. If we don't kill FHA mortgages now, the economy will crumble. Sound confusing?
Okay Jeff, have you flipped your lid? NOPE - I had written this blog last week, FHA loan rumors have become a reality. Because of this post, I have seen a few comments stating that we need to abolish FHA loans. Here are some comments in regards to these FHA changes in general... "The FHA is basically bankrupt since they haven't figured out that making loans … (74 comments)
Give it to me all..... the more that you have down, the more things will work out, that you won't leave your home. And as an investor, I will feel much better. Give it to me, every dime. Here is my point. There have been a few articles written in the last week or so and several of the comments are screaming for more skin in the game. These comments aren't just coming from realtors and loan officers, thinking that this will help correct the foreclosure market and the housing market, but this is also coming from the government. … (91 comments)
As many of us know, the 2009 Stimulus packageis about to be approved. Let's clear the air on this issue though. The new bill has not been approved as of yet, only that there is tentative agreement in the Senate. I am reading too many blogs stating that this stimulus package has been approved. It still needs the Senate's final vote for approval, likely reconciliation with the House Bill, and … (88 comments)
foreclosures: A Financial Meltdown on Wall Street - Will it affect you & real estate?
- 09/15/08 05:50 PM
Can it be any worse out there? If you haven't heard, as the credit crisis continues, there are tens of thousands of jobs being lost just on Wall Street alone. And with a few mergers in the near future, there will be more jobs lost. Is consumer confidence down? You betcha !! The Dow Jones is down over 500 points just today, the most since 9/11 in 2001. This is because of fear of a deepening of a year long credit rout caused by hundreds of billions of dollars from write downs and losses worldwide. Mortgage rates are dropping like crazy, which is … (70 comments)
Project Lifeline, what does it all mean?? The Bush administration just announced Project Lifeline on Tuesday the 12th, 2008. This new plan is suppose to be an extension of the previous plans to help homeowners who are having difficulty in keeping up with their payments. The previous plans had strict guidelines to where you basically couldn't be late on your mortgage prior to the rate adjustment on your adjustable rate loan. President Floyd Robinson of Insurance Services Group said, "We want homeowners facing foreclosure to take the urgently required first step and reach out to their servicer, or housing counselor, and … (15 comments)
foreclosures: 2008 FHA & Conforming loan limits -- Truth or Rumor
- 01/27/08 04:15 AM
We all know that the economy is in the tank in one way or another. The Senate passed the bill of raising the FHA loan limits across the country back in December of 2007. What so many people didn't understand is that it had to go back to the House floor to decided what the new loan amounts would be. And after this is decided, then the President would sign off on this new bill. In all honesty, I thought that this would have taken place by the end of January. Now, I am being contact by realtors and consumers asking … (17 comments)
Did you know that 323,102 properties nationwide entered some stage of foreclosure in the first quarter of 2006, a 38 percent increase from the previous quarter and a 72 percent increase compared to the first quarter of 2005. Breaking down the nation’s quarterly foreclosure rate of one new foreclosure for every 358 U.S. households was higher than in any quarter of last year. WOW.... those numbers seem so unbelievably high. But wait..... after determining that foreclosures were on the rise throughout 2006, which would push the nation’s annual foreclosure rate upward, this number was no more than 1 percent of U.S. households. … (14 comments)
foreclosures: Help, I can't make my mortgage payments.......
- 04/15/07 08:40 AM
The media, it's just news which is not always accurate. Sometimes the news is based on facts, sometimes opinion, and sometimes a combination of both. I have read many blogs in the last several months taking one side or the other, pointing the finger at several of the different industries that are related to the world of real estate. Sure, some even mentioned that the consumer needs to be accountable for their actions. What we have now is an epidemic of foreclosures and 1st payment defaults on loans across the United States. Did we see the writing on the wall? Or does the … (26 comments)
foreclosures: Foreclosures: Banks & Lenders don't want your home, do they?
- 11/14/06 05:48 PM
What ever happened to the old way of doing business. Just going down the street to your neighborhood bank and get a loan at any time based on a handshake. Everyone was friendly and willing to help, even when you were in trouble. Remind you of anything? Does "It's a Wonderful Life" come to mind? Not anymore.... Banks don't want your homes. They aren't in the business to sell homes. Then again, it seems like we might be heading into a new phase with some of the larger banks wanting to get into the real estate market. But that is not … (45 comments)
I just want to educate people about mortgages and the process.
In regards to lending, I am very creative, intuitive, honest, and one who communicates information, may it be good or bad. I am a loan officer that looks out for your best interest.
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