foreclosure: How to make the foreclosure "crisis" much more manageable - 03/04/09 09:22 AM
Today, we will hear the particulars about the new plan to save America from the big bad "foreclosure crisis"
What a farce. The first thing that should be done is to determine if the borrower actually lives there, This will eliminate more than 75% of the problem.
If the borrower lives … (3 comments)
|
foreclosure: Does anybody think that any of this legislation is going to help? - 03/03/09 04:04 PM
The "foreclosure crisis" is a farce. The more I see, the more I belive that almost 90 percent of the foreclosures are not even owner-occupied. In fact, many of these foreclosure owners never made one payment and have been collecting rent since they bought the property. We need to speed up … (6 comments)
|
foreclosure: It looks like the Government is finally getting it together - 07/25/08 07:27 AM
The Housing/Foreclosure bill passed the house yesterday and will probably pass the Senate today. it will then go to the Whote House for approval. It contains many good changes for Reverse Mortgages. I am not sure how the final bill will look but at the very least the follwing things should be included:
A … (4 comments)
|
foreclosure: Reverse Mortgages are saving many people from foreclosure - 06/03/08 02:53 PM
I wish there were better statistics about how many Reverse Mortgages have been used to rescue people from foreclosure, but there aren't. What I can tell you is that every major lender has a fast track for processing Reverse Mortgages in foreclosure. What that means is that when every loan is submitted … (2 comments)
|
foreclosure: I can't believe how many people still think that the housing market will turn around soon! - 05/30/08 09:47 AM
I have been getting a bunch of comments on some of my earlier posts asking me if I really think that it will take years for the housing market to start to improve. Now, granted that many of these are from people in the business who need to think that the … (2 comments)
|
foreclosure: New legislation that will make things worse - 05/23/08 11:07 AM
There is new legislation pending in congres taht is supposed to help the victims of foreclosure, whereby there would be a delay of as much as twelve months put into the legal process. Thisis not good for 99% of the people in this country. here's why:
If you are in the … (2 comments)
|
foreclosure: "Suitable?" financial products that can be sold to Reverse Mortgage Borrowers - 03/26/08 07:56 AM
Generation Mortgage came out with a list of "unsuitable" and "suitable" financial products that can be sold to Reverse Mortgage borrowers. My opinion is that there are NO suitable financial products that should be "sold" to a Reverse Mortgage borrower.
The Reverse Mortgage borrower should be be able to use their proceeds … (1 comments)
|
foreclosure: A few situations that are NOT good for a Reverse Mortgage - 03/24/08 02:07 PM
I am still getting dozens of people weekly who tell me that they "don't like" Reverse Mortgages or that they know someone who "got really taken" by a Reverse Mortgage loan officer or they read something or heard something that said that Reverse Mortgages are no good.
I need to be clear here: … (2 comments)
|
foreclosure: The funniest comment about the housing crisis that I have seen in a while - 03/20/08 08:13 AM
I was just reading an article in Mortgage Servicing News entitled "MBA Forecasts 1.8 Million foreclosures in 2008." Keep in mind that this is only a prediction and it is coming from economists who work for the Mortgage Bankers Association. Also, there were already 1.5 million foreclosures in 2007 and many … (4 comments)
|
foreclosure: Why the housing crisis isn't getting better anytime soon (PART 2) - 02/27/08 08:05 AM
I was listening to Donald Kohn, the vice chirman of the Federal Reserve on the radio yesterday. I'm guessing that he is probably very smart. He definitely understands the financial markets, but most of his speech was about the housing market. He said two things that I thought were interesting: 1) … (0 comments)
|
foreclosure: Why the housing crisis isn't getting better anytime soon - 02/26/08 08:31 AM
Why the housing crisis isn't getting better anytime soon
Yesterday I posted why now is the best time to take a reverse mortgage. I mentioned that most home prices in the U.S. will be decining for a while and I wanted to explain why this is so.
Many economists and other pundits have no … (15 comments)
|
foreclosure: Why NOW is the time to take a Reverse Mortgage - 02/25/08 09:02 AM
Why NOW is the time to take a Reverse Mortgage
There are a few compelling reasons to take a Reverse Mortgage right now as opposed to waiting:
1) Reverse Mortgage Interest rates are at their lowest EVER. The amount that you qualify for depends on three factors, age, value of the … (2 comments)
|
foreclosure: How Reverse Mortgages are helping people in Foreclosure - 02/22/08 07:49 AM
How Reverse Mortgages are helping people in Foreclosure
There is a new company in my building that is buying pools of distressed mortgages and working out the resolutions with the homeowners. What I have been finding is that many of these homeowners are over 61 years old and can be helped … (4 comments)
|
foreclosure: How Reverse Mortgages Help People - 02/14/08 11:42 AM
I wanted to report some first hand situations where Reverse Mortgages helped people.
1) Rescue from Foreclosure. There is literally no other situation that gives me more joy than saving someone from being evicted out of their home. For many seniors who have gotten seriously behind on their mortgage payments, a Reverse is … (6 comments)
|
;)
;)
