Other types of credit may be feeling the crunch, but home mortgages are still readily available

This is my column for this week from the Arizona Republic (permanent link) ... are difficult to obtain right now and come at much higher interest rates. Using an FHA loan ... possession of the home for no money out of pocket. But there’s a catch: To obtain an FHA loan, the home [more...]

Date: 2008-10-04 15:42:15

Blog posts (110) | Videos (145)
 

Record rate of repos in 2008

Filed under: Etc. The mortgage meltdown and the financial crisis on Wall St ... that automakers were doling out bad loans just like the banks, but that's not entirely true. The high amount of luxury vehicles being repo'd have gone up as well, and many of those buyers have very good credit [more...]

Date: 2008-10-14 13:41:02

Taking Advantage of Low Rates

Continued unrest in the Middle East, unemployment rates at the highest level in recent memory, ... and refinancing. My current 30 year mortgage is in the low 6 percent range which, when I got it back ... with my mortgage broker now, as the average 30 year is now around 5.5%. I'm fortunate enough to have a high credit [more...]

Date: 2009-01-12 20:56:00

The FHA and Impact on Real Estate Values

Today the FHA, the Federal Housing Administration, is a gigantic player in the residential mortgage business. The FHA guarantees mortgages against default, and allows purchases of homes with only a 3.5% down payment, and provides a rock bottom interest rate of near 5%. These lenient terms apply to virtually everyone, even those with poor credit scores and little equity in the home, which are highly correlated with default. [more...]

Date: 2009-09-19 16:13:23

Borrowers here pay their U.S. insured mortgages

The government’s mortgage insurance program is doing better in Orange County than nationwide, at least as far as defaults go. The Federal Housing Administration has been insuring about 25% of home purchase loans in the county over the past few months, as the chart shows (click to enlarge). Of all FHA loans made in the county from August 1, 2007 (start of credit meltdown) to July 31, 2009, roughly 1.3% have fallen into default.That’s much better than the national rate for the same period, 5.6%. [more...]

Date: 2009-09-12 09:00:41

Posts about Mortgage Market Report as of January 14, 2009

Flagstar Bank 12 to 14 month Promo CD Rate - monitorbankrates ... Bank $100 Checking Offer Roth IRA vs Tradtional IRA CD Ladder Calculator Imperial Capital Bank’ ... Online Banking Getting a Copy of Your Credit Report Islamabad An overview of housing in Pakistan [more...]

Date: 2009-01-14 12:23:49

YouTubers, Beware: Viacom May Soon Slip You a Subpoena

YouTubers, Beware: Viacom May Soon Slip You a Subpoena (Image credit: Gizmodo.com, referring to the RIAA's relentless consumer suing spree) ... Business Notes Congress may approve "the biggest overhaul of mortgage financing since the New Deal ... is designed to help you get the best loan available at the lowest interest rate possible. Apply for [more...]

Date: 2008-07-07 08:10:02

GA Bad Credit Refinance With FHA

by Brenda Puckett You cannot turn on the news without seeing a new headline trumpeting the meltdown of the mortgage industry ... counties and $271,050 in rural Georgia counties. You may still be able to qualify for an FHA loan. FHA ... had starting rates in the low 5 percent range jumping up 8, 8.5 or 9! Subprime loan rates can be moving even [more...]

Date: 2008-07-20 09:31:03

Bonita Springs Florida Monday Mortgage Report 04-27-2009

Mortgage Rates Hit 5 Year High This week it is projected that mortgage rates will reach a 5 year record high.  Thanks to declining markets, credit lending guidelines tightening down, banks going out of business or merging to avoid bankruptcy, and many other economic factors, potential homeowners will now be facing an even more difficult time in trying to qualify for a new home due to the sharp an sudden increase in mortgage loan interest rates. [more...]

Date: 2009-04-27 13:42:00

Should You Refinance Your Home Now?

It has been well documented by many media sources that mortgage rates are at a four year low ... has been very bad over the last year which has caused many Americans to buy on credit - A LOT!  If your credit ... correlation to their declining credit ratings.  With a decent credit rating it is very tempting [more...]

Date: 2008-12-14 00:52:30

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