Bob Buchanan's (ahswizard) Blog

Look I have been watching rates move up several times each day, since the house failed to pass the bail out plan.  This trend will continue.  It will only stop when our law makers get there act together and pass a plan to loosen up the liquidity paralysiswe are now experiencing.  If and when that...

Now that the house has failed to pass the bail out bill, stocks are down, bonds are up. oil is down, gold is up.  All on the figure pointing at the partisan vote of the house.  So your retirements being held in mutual funds, (that's about 50% of the US) keeps seeing the value drop more and more. ...

Washington Mutual, was seized by the federal Office of Thrift Supervision .  This is the largest bankfailure in US history.  The Assets of Washington Mutual were sold to JP Mprgan Chase for $1.9 Billion.  This story highlights the sense of urgence required to pass some sort of rescure plan quickl...

To address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25- Converting Existing Homes to Rentals- underwriting instructions.  FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling thei...

To address increasing occurrences of the practice known as "buy and bail," FHA has issued Mortgagee Letter 08-25- Converting Existing Homes to Rentals- underwriting instructions.  FHA is instituting the following requirements for borrowers who purchase a new primary residence without selling thei...

Lawrence Kansas Mortgages and updates (edit/delete) 9/22/08   Volatility continues to be the name of the game.  Rates are opening up higher that Fridays close.  Inflation is pushing up commodities, and we have a slow week of information that can confirm inflation.  Wednesday existing home sales n...

9/22/08   Volatility continues to be the name of the game.  Rates are opening up higher that Fridays close.  Inflation is pushing up commodities, and we have a slow week of information that can confirm inflation.  Wednesday existing home sales number will be out followed the next day with new hom...

A week in History   There are three huge announcements that are changing the financial markets around the world.  First, fear over the safety of money in savings for many Americans. Banks are either folding or on the brink of collapse, bonds are losing some or all of their value, and stocks are d...

UPDATE: Starting today, all PMI company's have discountiued offering private mortgage for non owner occupied purchases.  This means 80% LTV max.  or at least 20% down on all investment property. About Us: With 7 years of experience working with Realtors, Investors, and most importantly BUYERS. Mo...