We are being haunted in a bad way this year! Let's pray Halloween 2009 will look different than this picture! What an eye opener!
Ann Sabbagh Vice-President Seacoast Mortgage 508-243-1190 (cell) www.annsabbagh.com "When you choose me as your mortgage consultant, you also choose a financial planner who has YOUR financial strength as the PRIMARY concern" … (4 comments)
Obama VS McCain. Who is better for the housing crisis? McCain has a plan that will allow the homeowner to refinance based upon current values. A sensible solution!
Obama is criticizing the McCain plan stating it will cost the taxpayers dollars. Well, isn't the $700 Billion "BAIL OUT" plan costing all of us money? And will it stabilize the housing market so we can get out of this mess? NO!
Basic economics: Stabilize the marketplace, so prices will stabilize. There is too much supply for the demand.
What do you think?
… (7 comments)
ann sabbagh: "CITY MOUSE" VS THE "COUNTRY MOUSE"
- 10/17/08 01:23 PM
Rural housing programs at 100%! NO Mortgage Insurance, too! So, I guess what one can interpret from this is the people who would buy in the rural sections of town are less likely to foreclose than those buying in the city. "Country Mouse" VS "City Mouse" !
Yes, one can also assume the government wishes to make the rural living area a viable alternative. But, why no mortgage insurance? Is this going to hurt the lenders?
The "City Mouse" used to have the down payment assistance programs, but now they are GONE. These programs allowed for 100% using … (0 comments)
ann sabbagh: WE NEED THIS SOLUTION ADDED TO THE "BAIL-OUT" PLAN!!!! PLEASE READ!
- 10/01/08 02:55 PM
There should be five goals to target when arriving at a solution to the housing crisis: •1) Keep the homeowner in their home •2) Minimize the taxpayer's cost •3) Minimize the debt burden to the country •4) Minimize the losses incurred by the lenders •5) Stabilize the housing market!
Please read the following:
The government is bailing out AIG, Fannie Mae and Freddie Mac, lenders, the list grows..... It is time the government bails out THE HOME OWNER AND MINIMIZES THE TAXPAYER'S LOSSES!!!!! Funds need to be set aside (governed by FHA new guidelines) which will allow individuals who … (6 comments)
Not much time is left for the down payment assistance programs. On October 1, they are GONE. Unless the legislation to extend it is passed. The legislation states it will be credit and risk based, so higher rates may result. But, higher rates (as long as not significant) is better than eliminating the program altogether.
BUT, I totally do not believe the rate should be higher. The higher rate only increases the chance of the loan going into default.
Please contact your senator and congressmen to enact the legislation which will continue down payment … (4 comments)
The following is an excerpt from: http://online.wsj.com/article/SB122161086005145779.html?mod=googlenews_wsj
---------------------------------------------------------------------------------------------------- There is something we can do to resolve the problem. We should move decisively to create a new, temporary resolution mechanism. There are precedents -- such as the Resolution Trust Corporation of the late 1980s and early 1990s, as well as the Home Owners Loan Corporation of the 1930s. This new governmental body would be able to buy up the troubled paper at fair market values, where possible keeping people in their homes and businesses operating. Like the RTC, this mechanism should have a … (4 comments)
ann sabbagh: LENDERS SAY "NO THANKS" TO THE HOUSING BILL BEING PUT INTO ACTION ON OCTOBER 1
- 09/17/08 02:44 PM
Lenders say "Thanks, but NO thanks" to the housing rescue bill, which is being initiated on October 1. Why are they saying "no thanks"? Because the bill calls for the lenders to "forgive" any loan balance greater than 90% of the home's value. FHA is insuring the new loan of 90% and FHA receives 5% of the new loan balance from the lender.
Now, you must ask yourself, "Why would a lender be willing to do this?" Yes, to avoid significant losses as a result of foreclosure, BUT they rather maintain the entire loan balance and drop the rate for … (1 comments)
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