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Blog entries tagged with "mortgage":
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I just read that the President should have signed or is signing this bill into law today. If you don't know, the bill will allow the following for MN deals
OK, Here we go again. We should all know the reason for the slowdown in the market by now, the sub prime mortgage market crisis. Let's work together to see if we can do something to speed the market back up, before we end up like some other markets back east. We … (3 comments)
I think it's going away this time-which will deal yet another blow to people who can't afford a down payment (especially minority lending). If FHA comes out with a 100% loan, it may be fine but, in this environment I think bringing out this kind of product now may be too … (2 comments)
If you're interested in purchasing a home, it's a great idea to begin working with a good lender. Your local Realtor(r) can help you find one if you don't know any. If you do find that you have some credit issues, your lender can help you deal with these and get … (0 comments)
Weekly Economic Report
If you own a convenience store with gas service, you know the clock is ticking on being EPA compliant by 2009.
I currently have some links that have underperformed on my website in my opinion. I have received some solicitations for purchasing one way backlinks to improve the ranking of some of my links. The links in question are pretty basic: FHA Loans , FHA or VA Loans for First Time Buyer , FHA Refi ,FHA … (7 comments)
Most people understand the concept of the domino effect on the real estate market. The starter homes must sell first so the owners of the starter home can move up to the next price level, which allows another home to sell and another; much like a child's game of dominos.Fortunately the … (32 comments)
The Saint Louis Real Estate Market this week is showing less active listings than the previous couple of weeks. We are still seeing homes selling, as our pending ratio has remained consistent. We are showing an increase in the pending ratio this week, however this is only due to less acive listings and … (0 comments)
As Congress waits for President Bush to sign on the Homeowner Rescue Bill I have to wonder, who will it really help? Although the claim is for there to be assistance for 400,000 homeowners - it appears that government action has only been successful in rescuing large institutions harmed by our … (4 comments)
It was a great week in San Francisco at Inman and at Bar Camp. 
What’s today’s interest rate on a 30-year conventional loan? The answer: You tell me your credit score, and I’ll be closer to quoting you a rate. With all the bad news about mortgages and foreclosures, lenders have changed the rules and made it more difficult to obtain a loan. Many programs … (0 comments)
When a Short Sale is done on your property, to avoid foreclosure, a part of the mortgage debt is is not applied to the sale. Thus, the sale that the Bank accepts is Short of the outstanding note balance. The Internal Revenue Service by law requires knowledge of that short amount.
The Mortgage Forgiveness Debt Relief Act of 2007 (the Act) was written to protect families from income taxes which arise under the Tax Code any time debt is forgiven. The policy behind the rule is based on the Internal Revenue Services presumption that any debt borrowed by a consumer will be … (1 comments)
There certainly aren't any of the people reading this posting that has ever spent any time in a bar talking and drinking with the patrons. Since I grew up watching, picking up and waiting for my father in several, I have some experience in the bar mentality phenomenon. It is really … (3 comments)
Home Mortgage Foreclosure Heat Map 2008
Purchases Using FHA
I am excited to report that on August 16, 2008 the 3 Denver Metro Area branches of CTX mortgage along with 100% of their originators will join forces with us here at CCMC. Their offices are located in Lakewood, downtown Denver, and in Greenwood Village! Our president has met personally with all of the employees from … (4 comments)
What I find amazing is the way most Americans pay their bills. How many people do you know, use little or no software to organize their finances? Most Americans pay their bills out of their check book, utilizing their check book registrar as their sole personal accounting device. Many more have … (4 comments)
Southern Nevada Water Authority, or SNWA, has a massive job on its hands. Years ago when Las Vegas was still a miniature from what it is today the Authority's task was simple. Snowmelt from the Rockies steadily supplied water to Lake Mead and that was plenty to keep the valley moving … (2 comments)
All the turmoil in the mortgage industry has definitely made the process of financing a home seem a little scarier. But the truth is, it doesn't have to be. Although lenders are tightening their belts a bit, being more selective about who they lend to, and more closely evaluating the risk factors involved, they … (0 comments)
Over the past 3 years I have been offering prepaid legal plans to my Mortgage and Financial Planning Clients. Not only has it been a worthwhile experience, but also a lucrative one. Working as a Financial Planner I ask my clients many questions. One question on my questionnaire is "Do you … (0 comments)
How Did The Housing Market Get Into This Mess??
I recommend having a look at the CMHC website !
See the whole show and more at: http://youtube.com/fpatv … (0 comments)
First National Bank of Arizona, headquartered in Scottsdale, was closed by the FDIC at the end of the business day Friday.
I get an email every day from the Providence Business News recapping the day's events as published in that paper, and there have been several articles of interest this week which reflect on current market conditions. As you may know, while the US as a whole is not currently in recession … (0 comments)
Larry Kudlow is joining fellow CNBC personality Jim Carmer in discussing housing very favorably this week. Cramer stated that it was now time to buy a house and Kudlow is taking mainstream media to task for remaining pessimistic while there is strong data to support the slowdown's end is near if not … (2 comments)
Manufactured / Mobile home financing is better left to the experts. This type of property is just DIFFERENT and, like anything else, if you do it every day you get REAL good at it. I've done financing on 1965 single wides, 100% VA purchases, tons of loans for homes in 55+ parks on … (0 comments)
The Mortgage Mess we are in is the worst market I have been in. However, things do change. The Memphis Tn market may not be as bad as other parts of the country. Shelby County and surrounding areas have challenges which include helping first time homebuyers get in for little or … (0 comments)
Have you ever thought about what you could do if you no longer had a mortgage payment?
The head lines in Yahoo this morning read "Foreclosures More Than Double In 2007", Ouch! I'm a forever optimist which drives my husband nuts, but I truly don't see what the banks are trying to accomplish here. First of all I know several people who have tried to work with the … (6 comments)
I am sure many of you are anxiously awaiting the Omnibus Housing Bill that recently passed through the house. Hopefully it will soon be passed by the Senate, and then signed off by the President. Here is what I have been hearing about the bill and how it can help get … (1 comments)
The following is a fictional depiction of events based on the recent events surrounding Fannie Mae and Freddie Mac. While the House of Representatives recently approved a bail-out package for the ailing mortgage buying giants, I will examine what could occur if the government did not step in to save Fannie Mae … (3 comments)
After last week's drop, did any of you investigate locking in an interest rate? Or did you gamble on rates falling more? If you bet on the latter scenario, you lost. Today 7/24/08 Freddie Mac reported that average mortgage interest rates moved significantly higher due to inflation worries. Nationally the … (0 comments)
Click on the link for some great Mortgage Calculators.
Mortgage rates near highest levels in 12 monthsThere are many explanations for this interest rate increase: the sub-prime morass, the apparent financial weakness of mortgage giants ‘Fannie Mae’ and ‘Freddie Mac’, the inability of the Federal Reserve to rein in financial institutions, the slow response of the government to the foreclosure … (0 comments)
Where have all the home owners gone?
In one of my recent posts I mentioned that the lenders have tightened their standards. Although, there are still ways to qualify for 100% financing it isn't as easy as it was a year ago. I always suggest that talking to a lender should be your first step in buying a … (0 comments)
The House passed the Housing Bill yesterday with the primary goal of providing a safety net to GSEs Fannie Mae and Freddie Mac and will have an impact on the FHA Loan.
One thing about bubbles - they do tend to draw less qualified people into the trendy "bubble" profession or "second career". How many of you know someone that had never bought or sold a single stock / equity - that is until the days of the online brokerages and the internet boom in the late 90's. Suddenly … (3 comments)
Ok all this talk about a mortgage rescue what does it really mean? Someone help me out here can money save distressed homeowners? Well I guess there are some who may have lost jobs or downsized but lets take a look at a bigger picture. This country is driven by debt … (2 comments)
Visit http://www.propertycow.com/ for more information.
Five Year Increments 
As the title agent in my BNI group it is only natural for me to be able to refer and receive business from the Realtor and mortgage broker in my BNI Chapter. Since I joined BNI two years ago I have seen both the original Realtor and mortgage broker leave our … (0 comments)
Interesting turn of events. People who live on the west coast have probably heard the Hayes Barnard commercials...not going to say anything bad and just let the article do the talking.
Daniel, What is Mineral Land? That is the way my first call of the day started. I received the phone call from my old friend Brian who is a lender about to give a loan to a couple buying 35 acres of vacant land for an investment. Brian and his borrower … (1 comments)
I have been keeping up with several recent posts about whos fault it is with the mortgage and financial mess were in. I came across an interesting piece on Yahoo video that was meant as a slam piece on our current president. Leaving politics out of it, I think what they … (2 comments)
On Friday I settled on a short sale which I had been working on for quite some time. I had the listing for 6 months with numerous offers, but the bank would not accept any of the previous offers. Finally, after much negotiating, the bank accepted this offer. Once the bank gave … (4 comments)
WaMu reported today that they lost $3.3 Billion in the second quarter of 2008. They increased their loan loss reserves by almost $4 billion to $8.46 billion and expects 2008 to be "a peak year for provisionioning" meaning - they expect to lose a record amount on bad loans this year. 
The launch of the new website is aimed at giving the Urban Knight Enterprises firm a unique and professional look that fits with their industry and capabilities. The website is in alignment with their "simple, to the point" corporate identity. Our main goal was to design a website to have a … (2 comments)
INTEREST RATE vs. APR: What's the Difference?
Real estate pioneer calls the bottom of the market and expects home sales to begin showing modest, steady increases
Costa Rica Condos Starting at $259,000
Governor Schwarzenegger launched the "Community Stabilization Home Loan Program" to Help Communities Hard-Hit by Foreclosures
How about that! A new subprime lender discovered by Beal Bank, and they appear to be a bit put out by the discovery too.
There are four major actions to avoid before applying for a mortgage loan and during the loan process itself. Any one of these four things could impact your ability to qualify for a mortgage loan so it is critical to avoid any of them until after your loan has closed or … (9 comments)
More changes coming down the pike from Fannie Mae. This will have a pretty big impact on many move up buyers as well as investors.
http://www.eyejot.com/mview?g=1B46C8B38F7A7EFFFF9FD072C7 … (2 comments)
First the government tells us tomatoes are the cause of salmonella and now they tell us that it was jalapeños instead. This has cost tomatoes farmers a tremendous amount of money and many of them may go out of business because of the governmental intervention.
Have you ever asked yourself that question and are still wondering the answer? Well, there is a simple answer and you should use it with your clients consistently to act in THEIR best interests..even if you don't sell them a home. You dont have to be a lender to figure this … (1 comments)
Believe it or not...Yes, we can still finance scores below 580.
I've heard the phrase, "this is a price war and a beauty contest" so much these days and have caught myself using it as well. Doesn't it go beyond that now that we are in the thick of interest rate increases, inflation, astronomical MLS inventory and declining values across the country? 
Mortgage by Randy
"Susan, how are you holding up?" asked one of my past clients when she ran into me at the nail salon. "I'm great. What are you talking about?" I queried back. She went on to talk about the gloomy real estate market and said, "Surely you're not selling houses right now." … (0 comments)
As a NC Home Mortgage Loan Lender we are offering a variety of home loan programs with various lenders. FHA mortgage loans are one of the top mortgage products that our clients ask for. Please visit our FHA mortgage section. We are also having a lot of VA loan applications from Veterans looking to take advantage of the … (0 comments)
Divorce and Mortgages: My client's property settlement agreement provides that the mortgage remain in place and that the house will not get sold until the children graduate high school in three years; do you still recommend seeking counsel of a mortgage planner to review the situation?
Diane explains realistic options for the borrower facing trouble making their loan payments. She emphasizes the need for the borrower to communicate, communicate, communicate with their lender before bad things get worse.
… (8 comments)
I find it strange, being an active and producing mortgage broker, that we have this chaotic mess with banks when the foreclosure rate is not even 5%!
Hello Everyone,
It has been a rough Monday for the mortgage market. A big wholesaler has just dropped out of the market. Wachovia has suspended all wholesale operations. This is another big lender to pack up shop and will have a big effect on mortgage brokers and the market. I know a few … (8 comments)