Tuesday, March 8, 2011 The Obama Administration is pushing for closure on the mortgage crisis, and it may be coming at the expense on Fannie Mae and Freddie Mac. These two quasi-corporate government sponsored enterprises are being blamed for much of the mortgage meltdown due to their elasticized credit guidelines throughout the sub-prime gold rush. [...]
Category | Mortgage Programs
Monday, March 7, 2011 The first Friday of every month always has me on edge. As I’m watching CNBC at around 7:30 am, I’m tensed up as I await the employment report knowing the results can wreak havoc on the bond market thus moving mortgage rates. Not that I’m a proponent of a high unemployment [...]
Some call it magic, I call it manipulation. Somehow barely any jobs were added in January, but the unemployment rate still fell. That’s almost a full percentage point in two months. In news released this morning, non-farm payrolls rose 36K in January and the unemployment rate stood at 9%. Economists’ estimates were for the economy [...]
The freefall continues. According to many leading forecasters, home prices are expected to drop further in the first half of this year, then rebound later in the year. The expectation is that unemployment will slide a bit, sparking purchases in housing. Forecasters are looking for a 5-8% increase in home sales by the end of [...]
November 10, 2009 Although most folks choose to escrow their real estate taxes and homeowner’s insurance monthly, I am often asked whether or not this is wise. As long as you have a minimum of 20% equity in your property, you actually have the choice of “waiving escrows” or paying the taxes and insurance on [...]
November 10, 2009 You probably see ads all the time for “No-Cost Refinancing”, but what exactly is it and how do some lenders offer it and some don’t? The truth is, all lenders can offer it and probably do, it’s just that some use it as a marketing gimmick. A true no-cost refinance is one [...]
November 10, 2009 Although the President’s “Housing and Affordability Plan” was announced on February 17th, it wasn’t until yesterday that we got the details of what it actually means to homeowners. We are finally seeing some changes in guidelines, starting today with a major announcement by Fannie Mae. It was announced that over the next [...]
