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Blog entries tagged with "bailout":
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Shakespeare once wrote ..."that which we call a rose by any other name would smell as sweet". Meaning of course, it matters what something IS, not what something is CALLED.The same holds true for unemployment. Or so I thought.My brother recently joined the ranks of the unemployed - not by choice but … (1 comments)
Freddie Mac(FRE) and Fannie Mae(FNM) were recently the target of a Standard & Poor analysis report which painted a somewhat grim picture. The report, headed by analyst Victoria Wagner, indicates that FNM and FRE are both facing a possible hit from the mortgage meltdown. The report was recently released as FNM … (0 comments)
"If you believe in unlimited quality and act in all your business dealings with total integrity, the rest will take care of itself."~ Frank Perdue, Chicken Farmer, Executive Well, I don't know about you but, I certainly needed a bit of humor in my life considering what has been happening in … (2 comments)
As Congress struggles to find a solution to what my local papers are calling the 'housing mess', I'm trying to find anything locally or nationally that REALTORS® are doing in response. This is not a criticism, but an informational question only. 
I keep reading of the plans that the government wants to give assistance to those homeowners having trouble with paying their mortgage. Now I read that the guy over at the FHA is trying to propose a plan to give a principal reduction to these Americans in need also. What is … (6 comments)
On March 14th, Bear Stearns, the fifth-largest investment bank in the United States, entered a period of insolvency. As growing lack of confidence in the firm's subprime exposure grew, other banks eventually refused to lend to the stricken company, which has existed for over 85 years. Were Bear Stearns a commercial … (0 comments)
I have spoken to so many people that are in sincere danger of losing their home here in Lackawanna County. Scranton homeowners have come to me for help. The interest rates on their Adjustable Rate Mortgage (ARM) has increased to a point where their payments have become laughable. With our increasing … (0 comments)
Personally, I feel that I was just kicked in the face when I heard that $20 Billion in tax payer backed funds were used to bail-out Bear Stearns, a Wall Street Investment Banker. Surely this money could have been better spent if it had gone to pay the refinance fees to … (0 comments)
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)
Hope Now hotline leaves callers frustrated; ‘more work to be done'From an article today at MSNBC.com, it seems The Hope Now Alliance, a private partnership organized by the federal government, seems to be falling short of expectations. Though the Alliance is pursuing its mission on several fronts, including a mass mailing … (0 comments)
As I look back over the past 13+ years as a mortgage consultant, I have enjoyed my profession but seen many abuses that have led to the current mortgage mess. Foreclosure filings are up 46% in the month of February year-over-year, and so many people are in financial trouble. Why did … (1 comments)
Seems as if a lot more people are endorsing the concept that the U.S. government ought to step in and resolve the mortgage and credit melt-down mess.I don't know who coined the motto for our government 'If it ain't broke, fix it until it is!' but I certainly concur with many … (4 comments)
75 years ago yesterday, on March 4, 1933, President Franklin Delano Roosevelt gave his first inaugural address. The country was in desperate economic shape – the throes of the Great Depression – and FDR had been elected in a landslide to do something to pick the country back up. 
If you have been watching the news this last week, you noticed there has been a lot of talk about our country's economic status. Federal Reserve Chairman Ben Bernanke gave an economic outlook for the next coming months: he pretty much stated that it is not going to get a whole … (1 comments)
You know the Office of Thrift Supervision (OTS - don't you like acronyms)? The OTS has authority over federal savings and loan lenders. The OTS unveiled a plan to help mortgage borrowers in trouble, but only those borrowers who hold mortgages with federal savings and loan lenders. The plan suggests their lenders … (0 comments)
The big news last week was the Treasury department and HUD introducing the New Hope Alliance and Project Lifeline. Project Lifeline extends the foreclosure process by 30 days for those that are seriously delinquent. The New Hope Alliance is comprised of the 6 biggest banks in the country which service approximately … (6 comments)
545,000 families have received help so far with their sub prime mortgages to save them from foreclosure.
Real Estate, Stocks, Bonds, Liquidity And Magic (But Who'll Stop The Pain?)
Well, here's hoping you're safely through the holidays, and that Santa, in his munificence, deposited more than the richly deserved lumps of coal in your moth eaten stockings. With that cheery greeting, let's start the year with a slap in the yap from the housing market. I know I told you … (15 comments)
I just read a great post, by Melissa Olson ~ HOPE Lending LLC in Bellevue, WA. It was about this mortgage bailout program put into motion by President %@#*. Read It What are you doing to educate your clients about this? … (2 comments)
The Wall Street Journal has been doing a fairly good job of covering the mortgage mess. They have told us pretty much what occurred, the programs used, the sub prime rates and the stories about people who have been adversely affected by this mess. I think we should all take heed … (2 comments)
There is a lot of talk about the US government conducting a massive bailout at tax payer expense. Freeze interest rates, stop foreclosures! At first it sounds like a good idea, but when you think about it is really a public relations ploy for all politicians. It should be thrown out … (9 comments)
Moot. It's not a word used all that much, but it now gets its day in the sun. "Moot," is the most succinct way to describe the recent plan proposed by President Bush to bailout homeowners trapped in subprime mortgages. Actually, it's the mootest, or most moot, plan of inaction ever. … (0 comments)
Since Thursday's announcement of the government's mortgage bailout plan I have received numerous phone calls from distressed home owners asking if this plan will allow them to keep their homes and avoid foreclosure. The short answer to that question is "maybe", but for the majority of homeowners considering a Short Sale … (2 comments)
I got a call from Glenn Roberts at Inman News today.
Bush Bailout Plan? - Mission Viejo by John Alesi, Mission Viejo REALTOR® Mission Viejo CA Real Estate As reported on the Reuters website today, Prez Bush may be unveiling a plan to bring mortgage relief to so of the 2 million homeowners that are facing steeply increasing interest rates on … (0 comments)
Well, I said it last time and sure enough, here it is. Who is Sheikh Ahmed Bin Zayed Al Nahayan? He's the Managing Director of ADIA, which is the investment arm of the Abu Dhabi government. (Considered the richest city in the world, and, along with Dubai, is one of the seven … (1 comments)
The agonizing death of the subprime market this past July/August has seen the demise of many big and small lenders. The Bank of America bailout of the nation's largest lender, Countrywide (CFC), by virtue of a 15% equity interest acquisition has allowed this wounded giant to continue. The financial markets would be further … (9 comments)
In an article on CNN Money I read that Countrywide will be helping out about 82,000 hybrid ARM borrowers. This seems like a better solution than the government stepping in and regulating the industry. And, I believe that sometimes it’s better for you to see the error in your ways and … (4 comments)
At first glance you would think they are doing something to help, they are dumping their bad paper on the GSA's http://www.bloomberg.com/apps/news?pid=20601087&sid=agNUe.4oR6mc&refer=worldwide If we stole like this on a local level, the boys would come calling with a warrant _________________Jeff Tumbarello H. G. Wells - "Human history becomes more and more … (0 comments)
This article from CNNMoney.com puts forward some good arguments why a bailout of the subprime mess isn't such a good idea (at least a taxpayer funded bailout). Here's a pretty good summary of the whole issue: "While the subprime market has witnessed considerable stress, the losses in that market are being … (0 comments)
Please visit my website: http://activerain.com/dvrkid I do Pre-foreclosure loans to 75% LTV. Lates are ok. Everyone deserves a 2nd chance. Call or email me so I can get you application going. Rod Tinsley, MBA in Accounting & Finance Financial Expert Paramount Home Loans, Inc 1675 Larimer #310 Denver, Co 80202 720-259-4412 … (0 comments)
Fresh off the heels of Bank of America's recent 2 Billion Dollar cash infusion in exchange for a stake in the company, Countrywide is currently seeking another "White Knight" to help them through their current cash crunch. According to a report on CNN Money, JP Morgan Chase, Citigroup, and various … (10 comments)
Can anyone else still believe in the day of the FHA "Secure Initiative" that Option ARM's are being direct mailed and telemarketed? I just got a solicitation today. Why don't we try to cover the wound instead of twisting the knife deeper?
President George W. Bush's plan to salvage the lives of many Americans who were talked into making home loans that they couldn't support, is very worthy if that is all that's available.
Just in case anyone was out of touch this morning and missed it ... "Today, President Bush Announced Steps At The Federal Level To Help Homeowners In Need Of Assistance Avoid Foreclosure. These steps will help homeowners having difficulty paying their mortgages and ensure that the problems now disrupting the housing … (1 comments)
The Mortgage Association today released a report showing that 30% of California Homes in Foreclosures are non-owner occupied homes purchased by "investors." Numbers are even higher in Florida, Nevada and Arizona.
MEMORANDUM FOR: All Participants in Ginnie Mae Programs FROM: Michael J. Frenz, Executive Vice President SUBJECT: Elimination of VA Loan Limit at Pooling Ginnie Mae is pleased to announce that it is eliminating the restriction on the size of mortgage loans guaranteed by the Department of Veterans Affairs (VA) that can … (1 comments)
APStock Futures Point to Higher OpenThursday August 23, 8:23 am ET By Joe Bel Bruno, AP Business Writer Wall Street Appears Headed to Higher Open As Credit Worries Ease at Countrywide NEW YORK (AP) -- Stock futures pointed to a higher opening Thursday, with some investors relieved that troubled mortgage lender … (6 comments)