Can you imagine if the Federal Government thought it could have a balanced budget in 10 years? Fannie/Freddie have made the necessary cuts to pay off the 186 billion in bailout money.
They have made many cuts to overhead and yes, they increased their fees. We have already increased the tax rates, but we have not made the necessary cuts to have a balanced budget.
Now that the light is at the end of the tunnel, we … (20 comments)
Our Federal Government will be running out of money in a few weeks unless the debt ceiling gets raised. We all know that is going to happen, but what are we going to do about getting our financial house in order? What are we going to do to reduce spending and lower our deficit?
The administration got their wish and increased taxes on those making over $400,000 or couples making over $450,000. That is a drop in the bucket as to what is needed to just pay for what we presently … (11 comments)
I keep reading and hearing about the Federal Government considering more stimulus. Are you kidding me?
Folks we are talking about interest rates that are at levels that are insane. Is the FED really thinking they are going to get more people to buy more homes or refinance more properties?
OK, there are a few that are waiting for interest rates to go lower, but anything that is stimulating interest rates cost every tax payer money that we shouldn't have to pay.
Look, I have spent the … (7 comments)
federal government: THE GOOD AND BAD WITH HARP
- 05/03/12 02:15 AM
“The Good and Bad with HARP” I consider myself a pretty savvy mortgage guy. I know more about different mortgage product than most in this business. Having said that, it is not easy getting these HARP loans done. Every day is a new learning process.
First, not every lender is participating, the ones that are participating all have different rules. There is no such thing as one set of rules. It is tough enough to get one of these loans done, that doesn’t have existing mortgage insurance. When a loan that is owned by Fannie Mae or Freddie Mac … (3 comments)
federal government: WHY DOES EXTENDING FLOOD INSURANCE COVERAGE HAVE TO A BECOME POLITICAL ISSUE?
- 05/01/12 10:31 PM
“Why Does Extending Flood Insurance Coverage Have to Become a Political Issue?” Why does Congress always wait until the 99th hour to extend this coverage. Why does this coverage not just become permanent? This has never made any sense to me. A few years ago, this coverage lapsed and some closings were delayed, which created a lot of hardship for a lot of people. Why was this necessary? What is the possible political gain? If anyone can tell me what the possible reasons are, I would like to know. FEMA Urges Congress to Extend Flood Coverage for Two Years … (5 comments)
I understand FHA's reasoning for increasing the insurance premium to 1.75%, in order to shore up the reserve fund. OK, that accomplished, why are they looking for a bailout at the same time, especially when they are saying they are not out of money. I don’t know about you, but this makes no sense.
A few months ago, FHA raised its monthly mortgage insurance, on their 30 year mortgage product from .55% to 1.15%. That is a boat load of cash flow. So why look for a bailout from the Federal Government?
If the Fed continues to sue B of A, the Fed won’t need a bailout. I almost wish I had a mortgage with them, not so much. B of A is certainly a target at this time.
It is hard for me to believe that B of A is the only bank that is running into all of these issues, but we’re not hearing about similar issues with other institutions.
Feds Sue B of A For Homebuyer Discrimination By: Ryan Schuette The federal government leveled charges against Bank of America Monday that the mortgage company … (5 comments)
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