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I just read this story in Bloomberg and it made me do a double take, then step back and think.  Subprime insurers have taken losses of $38 Billion compared to $41 Billion in claims from Katrina.

The enormity of the situation is truly staggering. . . just saw it and thought I'd share.

 

The Fed worked overtime this weekend
Mortgages in Ann Arbor -- Mark Miller
The Federal Reserve took extraordinary steps this weekend to stabilize the credit markets. The first Blockbuster move was that it facilitated J. P. Morgan Chase's acquisition of the Giant Wall Street investment bank Bear Stearns for $2/Share (!?!…
The Fed worked overtime this weekend
Mortgages in Ann Arbor -- Mark Miller
The Federal Reserve took extraordinary steps this weekend to stabilize the credit markets. The first Blockbuster move was that it facilitated J. P. Morgan Chase's acquisition of the Giant Wall Street investment bank Bear Stearns for $2/Share (!?!…
Where's the "Cheese"?
Mortgages in Ann Arbor -- Mark Miller
Four weeks ago I was on a Boeing 757 en-route to Phoenix with both of my parents, my wife, and my five and seven year old sons. My "baby" sister was getting married, and we were taking full advantage of it. We jumped on the opportunity to…
Hurray! FHA downpayment assistance programs are here to stay!
Mortgages in Ann Arbor -- Mark Miller
The United States District Court of Columbia issued a decison on Wednesday confirming that Downpayment Assistance foundations such as Ameridream, Genesis, and Nehemiah may continue operations indefinitely. If you are interested, read the official…
New FHA Limits
Mortgages in Ann Arbor -- Mark Miller
HUD to the Rescue! Well it's official: HUD has raised its limits to help the housing market. This means that more buyers will be swimming around in the pool to buy bigger homes. The new limit in Washtenaw county is $345, 000 Wayne, Oakland,…
FHA is a'changin'
Mortgages in Ann Arbor -- Mark Miller
The Federal Housing Administration was created in 1934 as part of FDR's "New Deal" in an effort to the lift the country out of the Great Depression. At the time, the U. S. was in the midst of a credit crunch and a housing crisis…
True Zero Down Loans Still Exist! (even in declining markets)
Mortgages in Ann Arbor -- Mark Miller
Over the past year we've been through a mortgage meltdown, a credit crisis, and a housing slump. This "perfect storm" has shook the mortgage industry to its core. Most lenders have dramatically tightened their guidelines, including the…
 

Mortgages in Ann Arbor -- Mark Miller

Ann Arbor, MI

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Address: 4860 Washtenaw Avenue, Suite C, Ann Arbor, MI, 48108

Office Phone: (734) 528-5509

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