So Why Do We Want To Bail Out This Homeowner Again?

I was reading through some blog posts this morning and came across one on housingdoom.com that just reaffirms my anti-bailout position ... THE COURT WANTS THE KEYS, SO I AM RENTING OUT THIS HOUSE WITH NO CREDIT CHECK AND ON A MONTH TO MONTH ... to pay his mortgage, and is planning to take full advantage of the system for as long [more...]

Date: 2008-12-16 22:06:54

Blog posts (149) | Videos (80)
 

Refinancing When You Owe More Than The Home Is Worth

I've been looking around for an answer to this but my searches haven't returned anything useful ... ? Was all the refinance hype only because the markets kept going up? Is this the reason why people who got an bad loan ... to the utter limit for 100% financing could refinance into more favorable loans as their equity picture [more...]

Date: 2009-01-08 09:54:12

Bush WH Ignored Mortgage Meltdown Warnings

“In hindsight, it was spot on.” -Jeffrey Brown, former top official at the Office of Comptroller of the Currency, ... than many fixed rate mortgages,” David Schneider, home loan president of Washington Mutual, told ... by the White House. The proposed regulations might have avoided the worst fo the housing and credit [more...]

Date: 2008-12-01 19:43:15

Those Order Takers Are Now Gone In California

The Ventura County Star reports from California. “According to Bill Watkins, executive director of the UC Santa Barbara Economic Forecast Project…a foreclosed home in California sells for $200,000 less than a traditional home. Until foreclosures are worked through the market, ‘we don’t think the real estate market can clean itself up, [more...]

Date: 2008-12-27 18:47:48

Bailout Fatigue Sets In

attorneygeneral.utah.gov Just as troubled borrowers are poised to become the next likely recipients of government help, ... mortgage-loan modifications — the anger over bailing out borrowers has been growing. Taxpayers ... saying, ‘I didn’t buy a house I couldn’t afford. I didn’t take out a home equity loan [more...]

Date: 2008-12-09 18:38:11

The Endgame

The Endgame Employment Numbers Are Worse Than Posted Aye, Captain, I'm Giving Her All I've Got! Problem #1: Deflation Problem #2: Pushing on a String The Muddle Through Middle Conversations With John Deflation? Stimulus? Deleveraging? Recession? A soft depression? A return to a bull market? With all that is going on, how does it all end up? [more...]

Date: 2009-01-17 21:29:29

Lending Woes: A Deeper Consumer Analysis

This may seem like an odd analogy, but I remember this story about my Mom when she was having her 7th baby ... for the Subprime Crisis.   Subprime loans did not come into being in late 2003.  2003 is the year more people ... You can’t get a good loan, but we can find you a BAD loan, if that’s what you want.”  Most people said [more...]

Date: 2008-12-29 21:19:46

Today’s Hit-And-Miss Parade

A report from Florida Today. “Conventional wisdom advises home sellers to examine recent sales of comparable homes in their area, and price their home in line with those selling prices. But today’s market is anything but conventional. ‘There’s no pattern,’ Realtor Cindy Kelley said of sales prices. ‘Here’s what we’re up against,’ she said [more...]

Date: 2008-12-07 16:04:16

Loans - Home Improvement Loan in the UK

Find the value of your property increase? A Home improvement Loan could be the easiest and cheapest way to make improvements to your home. Home Improvement Loan is a fixed-rate mortgage loans require no collateral and must be used for home improvement projects. Home equity loans are looking for individual projects funded home repairs, reconstruction projects, room additions, a pool and more without the development of the equity of their home. [more...]

Date: 2009-09-28 07:39:34

Things to Consider If You Can't Afford Your Payment

I read a lot of the info. you have on your web page ... thank you. I don't live in San Diego so I'm not looking for a home. What I am trying to decide is whether to sell or refinance. I live in DELETED. My mortgage payments are now approx. $2,400. I cannot afford to refinance into a fixed rate mortgage or interest only [more...]

Date: 2008-12-28 15:23:29

WSJ: "Housing Push for Hispanics Spawns Wave of Foreclosures"

From the Wall Street Journal:"Housing Push for Hispanics Spawns Wave of Foreclosures"By SUSAN SCHMIDT and MAURICE TAMMANCalifornia Rep ... with loans that often didn't require down payments, solid credit ratings or documentation of employment ... all congressional districts in percentage of home loans not tailored for prime borrowers. The caucus [more...]

Date: 2009-01-05 04:10:00

Bad Credit Doesn’t Have To Mean No Loan Help

Everyone faces unavoidable financial problems at some time and find that they are in an impossible situation and unable to meet their obligations ... , but that is not necessarily true. There are two types of bad credit personal loans, secured and unsecured. A homeowner may qualify for the secured personal loan and non-homeowners may apply for the uns [more...]

Date: 2009-01-16 09:36:37

2008 Lookback: Where to Start?

It is not hyperbole to say that 2008 will go down as one of the more memorable years in the history of modern financial markets. Comparisons to the 1920s did not come across as ridiculous, and the unrelenting downpour of bad ... of people who have fundamental misgivings about the stock market, in contrast to the “buy and hold [more...]

Date: 2008-12-22 11:09:00

Appraisal Fraud and Industry Standards Described in 2003 Official White Paper-RED FLAGS DESCRIBED IN DETAIL WITH EXCELLENT DIAGRAMS EXPLANATIONS AND DESCRIPTIONS OF BEST PRACTICES

loan_origination_mortgage_fraud_ffiecloan_origination_mortgage_fraud_prevention_response_nelsonRed Flags • Critical loan processing activities, such as  verification of income, employment, or deposit, is delegated to brokers. • Delegated underwriting allowed for correspondents that are new or lack an established track record with the FI [more...]

Date: 2009-01-09 15:33:10

WaMu’s New $1 million 5-year 1% Balloon Loan (mod) - $878 Per Month!

1/5/09 - EFFECTIVE IMMEDIATELY - Modified Loans are Ineligible For Fannie/Freddie Refi’s, while FHA MAY Be Eligible ... for conforming loan financing.” All Sorts of Consequences This has all sorts of consequences ... . In my experience, most mods result in one of more of their definitions of ‘restructured.’ A restructured loan [more...]

Date: 2009-01-12 17:52:15

Mortgage Loans - The Basics

by Trinity Collie Buying a home is a big decision. It is actually a really big responsibility to buy a home because it is such an expensive purchase. In order to get into a home, you will most likely have to borrow money from a bank to cover the cost of the home. This type of loan is known as a mortgage. The ease of getting a mortgage [more...]

Date: 2009-01-17 17:20:31

Henry Paulsen as Mary Bailey

The disjointed and ad hoc reaction of the Bush administration to this mortgage crisis stands in ... that -- just as today -- credit was frozen for home lending institutions. It empowered the Federal Home Loan Bank ... not be saved by refinancing, if home owners had to wait for home values to rise. So, it [more...]

Date: 2008-11-30 05:27:22

Regulators Toughen Negative Amortization Loans?

(This was originally published December 13, 2005. I'm reprinting it because it shows how utterly predictable the housing meltdown was) ... about all the bad stuff. Furthermore, the real rate on these loans is variable from day ... ;/sarcasm>). Read the contract. The attraction of negative amortization loans has nothing [more...]

Date: 2008-12-24 14:52:05

Mortgage: 3 Tips On Finding The Cheapest Rates

There are a lot of things to do when looking to buy a home but the most important is to get the most interesting mortgage loan rates available on the market. When applying for a loan, having a high credit score allows you to have a number ... one. Important: in some countries there are only established only two kinds of credit score: the good [more...]

Date: 2009-01-17 12:34:42

It’s time to refinance ~ but is your home worth enough to get that great low rate?

Short sales, Bailouts, Mortgage Reductions…there are all kinds of programs being talked about, ... .  You have a credit score over 800?  Awesome…we’ll give you a loan for up to 100% of the value of your home ... .  But I have a question.  What about the homeowner who has never missed a payment, has a great credit score [more...]

Date: 2009-01-17 04:16:58

House prices fall £12,000 in six months

House prices fell by 2.5% in October, raising the year-on-year rate of decline to 7.4%, according to the government's communities department ... of mortgages available at high loan-to-values, pushed down the prices of smaller properties. The biggest ... saw the smallest fall at 5.6%. The figures are not as bad as recent surveys from Nationwide [more...]

Date: 2008-12-09 10:02:51

Bad Day For Old Media

There’s a slew of bad news today for old media companies, and all signs are that it’s only going to get worse ... and other properties has $13 billion in debt. Severe reductions in advertising this year because of the recession has put pressure on the company. Most of its debt comes from the complex transaction [more...]

Date: 2008-12-08 22:22:34

Foreclosures in U.S. Rose 81%, Topping 2.3 Million Last Year

Foreclosures in U.S. Rose 81%, Topping 2.3 Million Last Year By Dan LevyJan. 15 (Bloomberg) — U.S ... of California, Berkeley, said in an interview. “The single most important thing is making credit available ... Asset Relief Program to help reduce mortgage payments for people facing foreclosure, Lawrence Summers [more...]

Date: 2009-01-15 16:45:20

Dopey leaders of 2008

#fullpost{display:inline;}Jim Pethokoukis at U.S. News and World Report offers up his top ten list of dopey leaders in the business world for the year about to conclude. Former Fed chairman Alan Greenspan comes in a respectable third.¡Ay, caramba! In a year when Wall Street imploded, the Big Three automakers neared collapse, [more...]

Date: 2008-12-16 21:42:00

“We can put light where there’s darkness, and hope where there’s despondency in this country ... S. Bernanke, chairman of the Federal Reserve, laid out the latest terrifying news: The credit markets ... easy credit, consumers who took on mortgages they could not afford and Wall Street chieftains [more...]

Date: 2008-12-21 16:01:46

Homeowner Loans for Everyone

A homeowner loan is a loan that is given against the security of a house. Your house acts as collateral when you take out a homeowner loan ... is replacing high rate unsecured loans and credit card bills with a low rate secured loan. Therefore ... when you are suffering from a bad credit history. Lenders charge very high rates of interest on bad credit [more...]

Date: 2009-01-16 23:02:29

By Saying Yes, WaMu Built Empire on Shaky Loans

As a supervisor at a Washington Mutual mortgage processing center, John D ... the relentless pressure to churn out loans that produced such results. ... During Mr. Killinger’s tenure, WaMu pressed sales agents to pump out loans while disregarding borrowers’ incomes and assets [more...]

Date: 2008-12-28 04:44:56

RICHARD VAGUE: How to Fix the Economy

This is a guest post for The Washington Note by businessman and regular TWN reader Richard Vague ... institutions were operating with far too much leverage (the ratio of loans against the capital a lender is required to maintain) which allowed assets such as subprime loans to be overbought [more...]

Date: 2008-12-24 19:45:27

Posts about Tri-State Real Estate (FL, GA and AL) as of January 16, 2009

Foreclosures And The Mortgage Meltdown Continues to Plague America - usreoproperties ... either being foreclosed upon or delinquent. The nation … package aiming to thaw the frozen credit ... 01/16/2009 Toyota is developing a miniature, environmentally friendly car that is powered entirely [more...]

Date: 2009-01-16 14:21:19

Student Loan Consolidation May Be The Answer To Your Debt Burden

Student loan consolidation may be the answer to your heavy debt burden and the many issues that come with having to make several loan payments every month. Student loans just like the other forms of financial aid are a service that is subject ... dropping below half-time enrollment. With this, the loans remain delinquent for 270 days or become [more...]

Date: 2009-01-17 09:03:38

How and Why a Poor Credit Mortgage UK?

Poor credit mortgage UK is the example of the changed attitude of the lenders in UK. Previously poor credit was regarded as something risky ... to do so in future. But now due to the change in socio-economic condition of man bad credit is no longer ... and successfully coming out also. That is the reason why lenders do not hesitate to offer poor credit [more...]

Date: 2009-01-17 01:58:22

The Economic Downturn and Student Loans: Some Practical Advice for Borrowers

Today's post is from Alan Michael Collinge, author of The Student Loan Scam: The Most Oppressive Debt in U.S ... page for book Student loan companies will soon be lined up at the Federal Treasury, seeking loans ... wracked by student loans in ways worse, even, than defaulting home mortgage borrowers. As we progress [more...]

Date: 2009-01-11 01:14:50

U.S. ‘Bad Bank’ Plan Gets Momentum to Revive Lending (Update2)

By Robert Schmidt and Craig Torres Jan. 16 (Bloomberg) -- Renewed questions about U.S. banks’ viability are pushing regulators toward a new plan that would remove toxic assets from bank balance sheets, in what may become the biggest effort yet to unfreeze lending [more...]

Date: 2009-01-16 11:55:00

The Consequences Of Devil-May-Care Lending

The Des Moines Register reports from Iowa. “Deb Baker believes she’s one of about 31, ... her ability to refinance her unaffordable loan or to sell her home. ‘You hate to lose what you put ... a fair number’ of the inflated appraisals that accompanied the subprime-loan boom now causing [more...]

Date: 2008-12-08 15:54:59

Bring Back Paternalism in the Mortgage Market

Not Responsible—Tom Jones Now let me ask you something: Have you ever felt that you weren’t responsible for the things that you do? I do not like government paternalism. When Ronald Reagan came to power and began our 25 year experiment with government deregulation, I thought it was a good idea [more...]

Date: 2009-01-12 15:43:03

2008 Lookback: Of All the Nerve

Market meltdowns have a way of revealing the true nature of many people ... a Ponzi scheme, and not just as a result of trying to cover a few bad bets in 2008. Mr. Madoff ... it was not in favor of an auto-industry bailout, saying that “the American people aren’t interested in just giving [more...]

Date: 2008-12-24 09:54:00

The Endgame

The Endgame by John Mauldin January 17, 2009 • Employment Numbers Are Worse Than Posted • Aye, Captain, I’m Giving Her All I’ve Got! • Problem #1: Deflation • Problem #2: Pushing on a String • The Muddle Through Middle • Conversations With John Deflation? Stimulus? Deleveraging? Recession? A soft depression? A return to a bull market? [more...]

Date: 2009-01-18 02:04:12

Lending Club P2P: Review of New Post-SEC Changes, Free $25 Lender Bonus

Now that LendingClub has finished their SEC filing and is one of the only P2P lenders currently operating ( ... you get. Then you can simply compare this rate with your other options - credit cards, home equity loans ... conditions, remember that credit cards can only guarantee 6-12 months of a low rate, and home equity loans [more...]

Date: 2008-12-14 14:30:58

William O’Donnell and others at financial giant UBS issued a report earlier in the week noting some reluctance by investors to buy government bonds ... the credit crunch, investors have demanded a greater premium on securities backed by mortgages, which means [more...]

Date: 2009-01-08 17:39:53

Lost In A Sea Of Stark, Empty Houses And Vacant Lots

It’s Friday desk clearing time for this blogger. “Record numbers of Sonoma County homeowners are seeing property taxes fall, ... have been a little hard to swallow.’” “Bob DeKeulenaere says junk cars in his neighbor’s yard prevented [more...]

Date: 2009-01-02 17:57:28

Improve Your Credit Score: Determine Your Creditworthiness

Sure, the economy may be flailing, but learning to preserve and maintain your creditworthiness and improve your credit score is still extremely ... obtained with faulty credit lending practices and other flawed methods have sent the economy ... credit is deemed a sound judgment by a bank or financial institution. Your credit score determines [more...]

Date: 2009-01-16 09:18:45

THE FINTAG NEWSLETTER @ 14 January 2009

FINTAG COMMENT Junk. Interest rates are nearly zero; equities, real estate, commodities and pretty much everything else is volatile and downward looking. So what do you do? Why of course you buy up the stuff that caused the problem in the first place - junk type debt with huge yields [more...]

Date: 2009-01-14 11:53:57

(Update II: Quote from Kerry Vandell added, more background on Gotschall.) Edward Gotschall, co-founder of a former market leader in loans to people with spotty credit ... much criticism they helped expand credit and homeownership to a wider pool of consumers. Subprime [more...]

Date: 2009-01-08 17:39:53

Qualifying For a Used Car Loan

A used car loan is given to those who wish to purchase a car that has had a previous owner. The car may be purchased from the owner or used car lot ... will be lower. This can help a person keep their car. For those with bad credit, a used car loan ... credit report, although there are lenders who are willing to grant loans to those who have filed [more...]

Date: 2009-01-17 09:34:44

AEI Subprime IV.5: Whalen Presentation

Here is Housing Doom’s fifth installment of our unauthorized annotated transcript of the American Enterprise Institute’s October 30, 2008 seminar "The Deflating Mortgage and Housing Bubble, Part IV: Where Is the Bottom?" This is the presentation by Chris Whalen. He makes use of a slide deck. Here is the official transcript [more...]

Date: 2008-12-02 07:01:48

What Goes Around Comes Around In California

The Inland Valley Daily Bulletin reports from California ... to be later.’” “Alex Espinoza Sr., president of Ontario-based California Capital Home Loans…says ... supply of units being repossessed by banks and put on the market still exceeds home-buyer demand [more...]

Date: 2008-12-30 16:35:04

Fast Personal Loans for Bad Credit – No Checking Account Loans Available?

Getting a fast personal loan for bad credit is something that many hard working Americans are doing to assist them in making ends meet financially.  Getting a no checking account loan is something that many workers would like to get.  It is surprising how many American workers do not have checking accounts.  There are many reasons not to have a checking account but sometimes this makes it hard to get a personal loan. [more...]

Date: 2009-09-28 03:55:40

We’ve Only Just Begun

We’ve Only Just Begun—The Carpenters ... . If a family wants to own a home for stability and security because they have small children ... are paying an hefty price for their own bad timing. Look at what a difference a few years makes. Let [more...]

Date: 2009-01-15 13:32:01

Good Bank, Bad Bank: The Rich Win Again

So let’s see if I understand this brilliant brain fart correctly…Citigroup (C) and Bank of America (BAC) ... in the “Bad Bank”. Taxpayers would own the bad bank.Translation: People with money, so the wealthier ... reported earnings so dismal it gave momentum to the whole “Bad Bank” plan. The plan would split [more...]

Date: 2009-01-16 13:40:00

The Long Mile Of The Mortgage Modification Business

The Long Mile Of The Mortgage Modification Business by Adam WhazzerWho is there to Help Those Who are Called to Provide Help? I work at a Foreclosure Defense Law Firm which happens to also engage in the practice of Loan Mods. I am not an attorney nor am I here to provide or imply legal advice. [more...]

Date: 2009-09-29 17:24:08

51 - 100 of 149 Posts
Page: First | < Preceding | Next >
0 | 1 | 2