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mortgages: Repost: How can we make sure this never happens again? - 11/17/08 05:29 PM
One thing I have picked up on the Zillow discussion boards is that there is a huge amount of resentment towards consumers who bought into the frenzied 'must act now! prices are skyrocketing, don't get left behind!' marketing ploys. Some of that anger is not misplaced- after all, without the all-too-willing consumer, we would not be in the pickle we are in!
I met people along my winding road in the business who absolutely, positively were abusing the privilege of owning a home. People cashed-out their equity once a year to 'consolidate' their debt. From 2002 to 2005, people refinanced as … (6 comments)
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mortgages: Mortgage Rates Today - 05/29/08 05:26 PM
Wow... Lots of ups and downs over the last week or two... and unfortunately, most were 'ups'. Rates have gone up about .375% from two weeks ago! Why? Well one reason is the bond yields- I know more people keep talking about Mortgage Backed Securities- I get it... But you can't argue with the fact that the bond yield on the 10 year note has gone from about 3.75 to up over 4.05 today! That's huge! Hopefully rates will back off a bit tomorrow, I did hear that the end of the day forecast for the MBS was better than the … (3 comments)
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mortgages: The Countrywide debacle - 05/05/08 11:11 AM
So what's the latest on the Bank of America buyout of debt-addled Countrywide? Well, it seems that signs are pointing to an 'oops, we made a mistake... no deal' coming out of BofA in the next few days. Bank of America was never particularly strong in the mortgage lending arena, and this purchase would have automatically catapulted them to the top of the heap. The problem is, is it worth all the trouble that CW brings? Countrywide was HUGE in pay-option ARMS and other risky mortgages that people are all too willing these days to walk away from. I know from … (3 comments)
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mortgages: Zillow argument - 04/26/08 09:02 AM
I've been on Zillow Mortgage Marketplace since the day it went live (I think, must have been damn close).For the most part, I really can't complain about the system. I've gotten a few good leads, a definite closing, and hopefully a few more clients. I've also been active on the discussion boards, which is pretty fantastic too. I've met some really cool people, some of which may also be on AR- so I should probably check that out!
I got into a little back and forth yesterday with a couple of people, and I'm really not too sure why. This was the … (17 comments)
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Jennifer Monastero
Danbury,
CT
More about me…
Polaris Funding Group
Cell Phone: (917) 340-9113
Email Me
Whatever I think about, I write about. Sometimes, it even makes sense!
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