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keeping them honest: Builders Make Timely Payments, and Banks Still Foreclose - 01/22/09 10:13 AM

During a time when we're all doing our best to meet financial obligations, apparently staying current on your notes isn't enough. Banks have recently begun foreclosing on builders with perfect pay history due to the slowdown in the housing market.
Dave Brown, has been a well-known builder in Tempe, Arizona for 33 years. Brown's home-building company, Brown Family Communities, naturally saw a decrease in their sales in 2008 -- down to fewer than 300 homes, from an average of 85 homes a month in 2005. Despite these troubled times, Brown never missed a payment on his loans. Regardless, JP Morgan Chase suddenly … (5 comments)

keeping them honest: HUD Delays Implementation of Builders' Incentives Provision - 01/13/09 10:51 AM

HUD is delaying implementation of the "required use" provision of the final RESPA rule that was slated to be implemented January 16th. This provision would keep builders from making incentives or discounts available to buyers only upon using the builders' preferred lenders. The delay comes after the National Association of Home Builders (NAHB) filed a preliminary injunction against the rule in late December.
NAHB argues the provision "limits the options available to new-home buyers as they seek out the services necessary at closing." On the contrary, HUD believes this provision makes other lenders available to the buyers, encouraging them to use the lender … (1 comments)

keeping them honest: Credit-Rating Downgrades Burning Through TARP Funds - 01/08/09 10:23 AM

You've probably already heard TARP funds aren't actually buying troubled assets anymore, and if the reason why isn't confusing or irritating enough, we now find out one of the reasons why Wall Street's $700 Billion is not easing lending as originally intenteded.
From July 7th to date, there has been over $5 trillion in credit-rating downgrades in companies' mortgage-related securities, and of special concern is the accelerated rate of downgrades in 2008 ($1.84 trillion in Q4 2008, compared to $183 billion a year earlier). Ok, English please. Companies take a big hit on their income statements as their AAA-rated securities are downgraded. … (1 comments)

 
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Nicole Lahti, Austin Texas Mortgage

Austin, TX

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United Lending

Address: 8303 N. Mopac Bldg. A-201, Austin, TX, 78759

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