Buyer Broker Chicagoland - Negotiation Experts - 100% on The Home Buyer's Side!
Buyer Broker Chicagoland - Negotiation Experts - 100% on The Home Buyer's Side!
ARCHIVED BLOG POSTS
2008
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Typically - people are told by the servicer to come back when they are two payments behind (not even one) before they want to speak with you. There are understandable reasons why borrowers who are delinquent on their payments receive more prompt consideration than those who are current. To the de...
09/29/2008
Besides the stock market tanking 777 points today (largest point drop ever) due to no agreement on the bailout plan - European governments announced a flurry of bank bailouts from Germany to Iceland before that even happened.I fully expect the market to rebound a bit tomorrow - as i am sure that ...
09/29/2008
The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift's banking assets to JPMorgan Chase & Co. for $1.9 billion. Seattle-based WaMu, which was founded in 1889, is the largest bank to fail by far in the country's history. Its $307 billion in assets eclipse the $40 b...
09/26/2008
Perhaps the Feds are concerned that many people will just stop paying their mortgages now.... CNN senior business correspondent Ali Velshi stated: "When the govt spends $700 billion for bailouts - they have to (in essence) print more money.... That weakens the dollar even more - (my comment - and...
09/25/2008
Anyone in Illinois know why gas costs 40-50 cents more per gallon than it does when you cross the border into Wisconsin? I pay $3.86 a gallon for BP Amoco Premium in Wisconsin. In Illinois (in the NW suburbs) - it costs $4.39 (and add 40-60 cents more in comparison to the NW suburbs - if go to...
09/25/2008
Mortgage rates are expected to fall (they already did yesterday 3/8'th's or more...one local lender was offering 5.625% on a 30 year fixed) because the Treasury Department will buy mortgage-backed securities. Here's why rates would fall as a result of the Treasury buying mortgage-backed securitie...
09/09/2008
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The winnners include Bill Gross at bond fund manager PIMCO, China's People's Bank (so nice that we are helping a bank in China), the former CEOs of Fannie and Freddie, homeowners (if rates can drop enough to spark demand again), and Wall Street firms that get fees for issuing securities. The lose...
09/09/2008
Because Fannie and Freddie aren't allowed to turn jumbo loans into guaranteed securities that are purchased by investors, those loans are costlier and harder to obtain. That's an especially acute problem in high-cost markets like California, where many homes are priced well above the conforming l...
09/08/2008
I don't think the govt takeover of Fannie Mae and Freddie Mac on Sunday will do much to help sellers. Rates just dropped a whopping 3/8 of a percent today to about 5 7/8's. But I don' t think it will be enough. I think you will see a wave of foreclosures in the next few years from ridiculous ...
09/08/2008
Fannie Mae and Freddie Mac both issued Bonds which over time mature, and Fannie and Freddie need to pay back the principal on the maturing Bonds. The way they raise capital to pay these maturing Bonds is to issue new Bonds. This happens every month. And as long as Fannie and Freddie can sell new ...
09/08/2008
Rainmaker
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Rick Hauser
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Buyer Broker Chicagoland - Negotiation Experts - 100% on The Home Buyer's Side!