Michael Schindler's (moneystuff) Blog

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Mortgage and Lending - Your IRA guy!

ARCHIVED BLOG POSTS

2008 

My Notes Wow!  So much has happened recently....so, in trying to keep positive about this industry, I will say that there are some great housing deals out there for buyers.  Other than that, well, you read the paper....(which BTW, is bad because it's all negative press)  With so that negativity a...
10/29/2008
YES! We have it! Realtors, if you don't know about them, get to because this is a very special product!  As the baby boomer generation begin to reach age 62 (age requirement for a reverse is age 62), this product will help them move to their next level (buying a home without spending all of their...
10/17/2008
We know that the bond programs are the only source of down payment assistance in many areas.   None of the new bond programs have been able to begin because there are no buyers for these bonds.For most of the 2000's, Fannie Mae and Freddie Mac were the major or only buyers of mortgage revenue bon...
10/16/2008
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So, in this "buyers" market, to sell a home, it is no longer the practice of just putting it on the MLS and waiting for a buyer. Outside of listing it, what are you doing as a Realtor to attract potential buyers to your listings? Sign in yard Place on MLS Flyers (refilled as needed-hopefully...co...
10/14/2008
If we want to fix the mess how about beginning by telling people to stop just walking away from their homes.  I see too many that would rather walk then tighten their belts simply because it's easier.  The bank didn't spend the money, why should they take the loss?  When I buy a stock at $15/shar...
10/13/2008
Here's some news - this represents 9,000 jobs eliminated at CitiMortgage.   (Taken from: National Mortgage News) CitiMortgage Making Huge Cuts in Wholesale/Broker Network   CitiMortgage, the nation's fourth largest residential wholesaler, is making deep cuts in its table funding unit, cutting 500...
10/08/2008
BREAKING NEWS   WASHINGTON - The Federal Reserve and six other major central banks from around the world slashed interest rates Wednesday in an attempt to prevent a mushrooming financial crisis from becoming a global economic meltdown.  The Fed reduced its key rate from 2 percent to 1.5 percent. ...
10/08/2008
This information was emailed to us earlier today..... I hope you find it beneficial The U.S. Congress has approved, and the President has signed into law, a plan to help stabilize the financial markets. This plan, among other things, temporarily increases Federal Deposit Insurance Corporation (FD...
10/04/2008
I have heard a lot of realtors talk about the short sale process and, while every lender is bombarded with requests currently, we were told last week at our regional meeting that Countrywide receives 100,000 short sale requests A MONTH.  So obviously, that department is overloaded with work.  Tha...
10/03/2008
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MichaelSchindler

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