John Mulkey, Housing Guru

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According to an article in the New York Times, almost a third of loan officers taking federally mandated license tests are failing to meet the grade. Consumer confidence in the lending industry, still struggling to regain its footing following the collapse of the housing market, continues to waiv...
Here are a few interesting numbers and facts I recently discovered. I think they should cause us to question the both the direction our country seems to be headed as well as the priorities we seem to have either selected or which have been thrust upon us.   The list, known as The Carper's Index p...
Taking a cue from struggling homeowners, Morgan Stanley, the giant Wall Street securities firm, is planning to transfer 5 properties it owns in San Francisco to its lender, Barclays Capital. The move, in effect a strategic default, will terminate the firm’s obligation on a loan of $2 billion.   A...
While millions of homeowners continue to face foreclosure, the Treasury Department has just realized that loan modifications aren't working. I suppose that someone must be the last to “see the light,” but must that someone always be government?   Almost a year into the program and with a couple o...
Looking for a place, the right place, a place you’ll enjoy calling home? Come to Lake Arrowhead, Georgia, where you can have it all. Nestled in the mountains of north Georgia and just outside the small town of Waleska, visitors will discover a lifestyle unmatched by other neighborhoods. A gated c...
While the administration continues to talk about modifying mortgages, about “shaming” lenders and servicers who fail to perform to some pre-determined standard, an 800 pound gorilla called negative equity is lurking in the corner. At some point the gorilla will pounce and crush those who stand in...
When the current administration came into power it promised “Hope and Change,” and struggling homeowners, devastated by the rising unemployment and the collapse of the housing market, eagerly awaited the changes that would save them from foreclosure. The previous administration’s Hope for Homeown...
In a Reuters Blog it has just been reported that Goldman Sachs is projecting unemployment to continue its slow rise throughout 2010 and not peak until mid 2011. Such a view is contrary to that of many economists who have predicted a peak about a year earlier.   A continuation of high unemployment...
One of the biggest problems today’s home sellers face is coming to terms with the realities of price. For many who watched the dramatic rise of their homes value during the past decade, the truth hurts. Homeowners who had wished to trade up and to use their existing equity as a source of down-pay...
What if I told you I had found the secret to knowing what the economy would do in the coming decade? Such knowledge could make you millions in the stock market. You would know whether to buy gold, real estate; which banks might fail and which industries would prosper.   But the truth is, I can’t ...

John Mulkey

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