Mortgages in Ann Arbor's Blog - Archives March, 2008

Home : Blogs : Mortgages in Ann Arbor -- Mark Miller : Mortgages in Ann Arbor's Blog : Archives March, 2008

Quick Hit: Subprime insurers' losses approaching those of Hurricane Katrina - 03/16/08 10:11 PM

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.
… (1 comments)

The Fed worked overtime this weekend - 03/16/08 09:18 PM

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'sacquisition of the Giant Wall Street investment bank Bear Stearns for $2/Share(!?!) Makes me wonder what we don't know. . . Now, I'm for free markets, and normally … (5 comments)

The Fed worked overtime this weekend - 03/16/08 09:17 PM

Where's the "Cheese"? - 03/10/08 10:00 PM

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 take the whole family … (3 comments)

Hurray! FHA downpayment assistance programs are here to stay! - 03/07/08 02:57 PM

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 ruling here.
This is really good news. An adverse decision could have further reduced active buyers in the market. This ruling, however, in conjunction with … (0 comments)

New FHA Limits - 03/06/08 02:14 PM

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, Livingston, Lenawee, and Monroe are $297,500. Jackson is $271,050, … (1 comments)

FHA is a'changin' - 03/01/08 10:51 PM

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. Mortgages were very difficult to qualify for, … (3 comments)

Related Links:

All member posts for March, 2008

New members in March, 2008