There is a very funny Fred Thompson video I posted on my mortgage website today where he sarcastically pondificates the economy and the "bailout mentality" spreading to all sectors of the economy.
It's truly funny...and it's spot on in the underlying message as well. Anyway...I can write about it or you can just go watch it for yourself..
I just wrote a post on my real estate investing blog on this language plugin that instantly translates your Wordpress blog into 34 different languages....and get this...it's FREE!
I did a lot of research and even paid for a translator plugin only too find many take up too many resources slowing down your blog or the have really bad URL structure for SEO....so to find one that's free that thought of all of that is great...
Fannie Mae and Freddie Mac announced a temporary ban on foreclosure filings and evictions for the holiday season. I an not sure if this is ease concerns over what is typically an emotionally charged time of year ( ie. more suicides around this time of year) or are they really attempting to give servicers an opportunity to "catch up" with loan modification ( their stated objective)...
I had a question posted by a reader on my mortgage advice website about when is it appropriate to "redisclose" the loan terms. Obviously this is a real concern for real estate agents as well as consumers to know what the laws says on this issue since many clients get to the closing table only to discover the loan is not what they expected...the dreaded "Surprise Closing"!
Yikes! Talk about "egg on your face" if you are the agent and the lender was a company you referred!
I just wrote a post on my mortgage blog about Obama's pick for Treasury Secretary. Unlike the mainstream media, Mr. Timothy Geithner, the current president of the New York Fed Bank as the next Treasury Secretary does NOT float my boat.
Wall Street loves the choice as evidenced by the run up in the DJIA on Friday and today. However, in my opinion this one of the prima facia reasons to question Geithner's appointment. We already have a Treasury Secretary who favors Wall Street over Main Street in Hank Paulson. Mr. Paulson has mishandled the financial crisis in a unprecedented number of ways.
I just finished a review of Flagstar Bank on my mortgage advice website complete with contact information, complaints, and all the other accompanying data. You can read it here..
However, this one is a little different in that I didn't have a ton of bad news. While other big name banks have pulled out of the wholesale lending business, Flagstar is holding fast. This really is good news when the likes of Wells Fargo and Washington Mutual couldn't make it work.
Don't get me wrong...I don't think consumers should ever go directly to banks for mortgages...they never get the best deals that way...but the review is worth reading...if you are either a consumer or real estate professional.
I really doubt if you are... even if you think you are. Even seasoned professional real estate agents usually make the same rookie mistakes when deciding what mortgage company to recommend.
If that is true, what chance do you have...the lowly consumer...of ever becoming a good mortgage shopper?
I just finished answering a question by a reader of my mortgage blog on why her payment went up when she has a fixed rate mortgage...a little hint...it has to do with her taxes!!
Click over and read my rather succinct answer and the points you as a homeowner or real estate agent may want to be aware of...
I just finished a post on my mortgage blog on the takeover of National City, a Cleveland based regional bank, by PNC...one of the mega-banks hand picked by Treasury Sectetary, Hank Paulson to get the first direct government assistance provided for in the $700 billion bailout.
I predicted this would happen...a perversion of the original intent of the law...to unfreeze lending...has given way to unbridled greed using tax payer funds to takeover the competition instead.
I just finished a review post I've been meaning to write for a very long time now...on LendingTree...and their dubious claim of "When Banks Compete, You Win" they have been blanketing the airwaves with for years now.
This company has been spewing this ridiculous mantra from years now..so I thought for consumers and agents alike...the truth should be known.
Rob K. Blake, "The Mortgage Insider"
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