Mortgage Loan Modification – Obama Mortgage Program Could Help You

Getting a mortgage loan modification is something that could greatly assist you in saving your home.  The Obama mortgage program was designed to help you lower your monthly payment and avoid foreclosure.  With mortgage interest rates near all time lows there is a great benefit in refinancing to a lower rate.  Even if you have bad credit you could still potentially benefit from a home refinance or modification. [more...]

Date: 2009-09-28 03:00:37

Blog posts (133) | Videos (109)
 

2009 Housing Forecast

The current expectations for 2009 is for the continuation of the housing pricw plunge. Hopefully stabilization will occur in 2010 or 2011 ... has eliminated an easy source of credit - a heavy drag on an economy that has depended on consumer ... and pieces of the mortgage. "It's been like using a paper cup to bail out a sinking ship," says Mark [more...]

Date: 2009-01-13 16:23:00

Fed Watch: New Month, New Data, Same Story

Tim Duy says the Fed needs to be more definitive about the type of policy rule it is following: New Month, New Data, Same Story, by Tim Duy: ... speak clearly of a deepening recession. If you had any doubt that the credit crunch is causing firms ... weakness extended into November, a hypothesis that is likely to be confirmed by this morning’s ISM report [more...]

Date: 2008-12-01 08:33:00

Mortgage Loans for Lenders with Bad Credit

If you are a first time homebuyer with bad credit, you probably have quite a few questions about how to obtain mortgage loans. Here are the most common questions people have about qualifying for a mortgage when their credit is less than ideal. Can I qualify for home mortgages at all when my credit rating is poor? A poor credit rating will not prevent you from qualifying for a loan, but be careful: Not all of the lenders who approach you will be ethical. [more...]

Date: 2009-09-25 01:56:50

The End of Large-Bank Wholesale Lending - Time For the Mortgage Banker

The End of Large Bank Wholesale Lending - A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week Chase shut down ... t effectively manage its pipeline of locked and in-process loans. Of note, Credit Suisse recently shut down ... because NMN is subscription - sorry: “As the refinancing boom gathers steam selected residential [more...]

Date: 2009-01-16 18:23:12

The Brakes Are Not Working In California

The LA Times reports from California. “A record 10% of the nation’s mortgage-burdened homeowners fell behind on their loan payments or were in foreclosure during the third quarter, according to a survey released Friday by the Mortgage Bankers Assn., which said California and Florida were the biggest contributors to the worsening picture [more...]

Date: 2008-12-06 18:15:59

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

Daily Owner Earnings

ThoughtsSoon the yield on Treasury bonds will be too high to justify issuing them. Instead they will just print money ... out for them.Things are so bad that looking at the last 50 years as a comparison will not work. What's worse ... starts.Speaking of GM, looks like the Chinese car company BYD can make an electric car for $22,000. Volt [more...]

Date: 2009-01-13 01:38:00

MortgageNewsClips: No Help for Jumbos, McCabe & Bogle, Clear The Way, Offshore, Caroline Baum, Salmon on Warren, 169 Failed, Treasury Calendar, GMAC, Jody on CES and Mods, Auction, MBS Purchase Plan 3, Ira Has 5

  Lower Rates Aren’t Helping Jumbo Loans - Kathleen M. Howley - The Record (Bergen County, NJ) -  KnowledgePlex ———— [ ... . -  Bloomberg 2.  Fed Study Finds 169 Mortgage Finance Companies Failed Last Year - Craig Torres - … The data signal the waning of lightly regulated mortgage lenders that thrived with funding [more...]

Date: 2009-01-01 16:53:28

The Bailouts? Not Much For the Common Guy

Trillions to financial Terra Incognita; So far very little for ordinary AmericansBy Sherman DeBrosse / The Rag Blog / January 8, 2008At this moment, ... billion guarantee for money market funds, $200 billion so far for credit card issuers, $345 to Citigroup ... money had to be spent covering bad investments that are nearly impossible to understand. No one [more...]

Date: 2009-01-08 02:42:00

AIG CEO Demands Apology from Mad Money’s Jim Cramer

WSJ Deal Journal Related: The credit crunch means that consolidation looms for Mirant and Calpine as well. Bloomberg ... its banks. WSJ More bad news: Banking bosses weigh in on bonuses and job losses. Times ... is wreaking havoc on a large but little-known corner of the credit markets, which could mean more write-downs [more...]

Date: 2008-10-20 12:57:00

Personal Finance Money Tips Q&A #1

This is the first post of the regular questions and answers series. If you have any question, please try our forum ... . To me, I have bad experience with a local bank (not good to disclose here, just call it Bank A) - poor service and slow respond. I am refinancing the home loan to HSBC and Bank A keeps giving trouble [more...]

Date: 2009-01-08 23:00:50

Guest Post: Obama Plan Is Bold, but Not Bold Enough

As details emerge about the incoming Obama administration’s stimulus plans, Peter Boone and Simon Johnson argue that proposals should be even bolder. Boone is chairman of Effective Intervention, a U.K.-based charity, and a research associate at the Centre for Economic Performance, London School of Economics, [more...]

Date: 2009-01-07 09:09:48

The Wait Continues

The Eagle Tribune reports from Massachusetts. “The number of new homes being built in Salem has hit a 30-year low ... They’re waiting until the demand for new houses picks up,’ Mackey said.” “The bad economy has put ... and the rest of New England. ‘It’s clear that the market was overbuilt,’ he said. ‘Easy credit [more...]

Date: 2008-11-10 15:25:58

Simple Ways To Refinance Mortgage

Simple Ways To Refinance Mortgage by Alisa JohnsonIf you look around you, you will be able to find many people who are facing many financial problems. Most of the people take bad financial decisions and they face financial difficulties. As they are not aware of alternatives they have that will solve their problems, these individuals will go for the wrong options. [more...]

Date: 2009-09-24 23:17:30

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

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

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

Homeownership: Is a High Homeownership Rate Good Policy? No. Examining 3 Cycles of Homeownership Data over 100 years and Implications for the Economy.

The current housing crisis has left us with an opportunity to examine the driving issue behind a high homeownership rate ... of principal before a balloon payment was due when the loan matured or was refinanced.  Refinancing ... of thousands of banks and other lenders contributed to the difficulty of refinancing, as customer relationships [more...]

Date: 2009-01-08 08:06:45

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

Wall Street Breakfast: Must-Know News

Little progress on Big Three bailout. House Speaker Nancy Pelosi, arguing General Motors (GM) is too big to fail, urges 'immediate action' to help automakers, but faces resistant Republicans and a noncommittal White House. Pelosi wants to include automakers in TARP, but without bipartisan support, [more...]

Date: 2008-11-12 12:14:23

Second home mortgage Loan: FAQ

Second home mortgage Loans are a potentially money-saving option for homeowners who want to consolidate debt and/or turn some of their bad credit into good credit. The possible tax deductions on home equity loans make them potentially useful ... tax advantages can apply. According to current second home mortgage statistics [more...]

Date: 2009-01-14 08:02:01

Commercial Developers: Not a Credible Threat

Ok, I’ve been tardy in posting. I’m very sorry about that, lot’s of things are going on ... , there are multiple metrics for value and credit worthiness of a commercial property. Residential properties ... of loan amount to value). However, these are not created equal: FICO is used to ascertain [more...]

Date: 2009-01-10 02:24:52

Still a Girl

On Wednesday I accompanied Sue to her third and final ultrasound. It looks like number two is still going to be a girl ... like we’ll be traveling to a different hospital too. Now we wait. Sue and I are all ready. The car seat is in the car, the crib is setup and the baby bottling stuff is back in the kitchen. We’re [more...]

Date: 2009-01-17 03:54:30

Making Sense of Mortgages

Making Sense of Mortgages Posted by Dark Spider at January 17, 2009 Understanding mortgages is no easy task ... ?s market there is a loan for every type of situation. Short term, long term, good credit, bad credit, no matter. Just about anyone can find financing for their mortgage needs today. Keep in mind [more...]

Date: 2009-01-17 12:08:38

friday links and idle philosophificationings

I’ve been exceptionally busy this week getting my Bruce Wayne life up and running. As Batman - aka brip blap - I’ve been running this site for a year and a half with my real identity more or less hidden.  I’m not sure why, sometimes.  It seems to be de rigueur for personal finance bloggers to blog anonymously [more...]

Date: 2009-01-16 09:00:33

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

Fast Home Equity Loans - Getting Approved Online

div style=’float: right; width: 100px; padding: 5px; margin: 5px; background-color: #FFFFCC;’font size=1font color=’#cc0000′bTip! ... of credit. Conversely, home equity line of credit allows you to borrow money as you need it and pay ... be a smart move to contact the lender of your existing home loan. If your credit is good [more...]

Date: 2009-01-15 19:15:47

I Meant to Do That

I Meant to Do That December 19, 2008 By John Mauldin The Fed has taken interest rates to zero. They have clearly started a program of quantitative easing. What exactly does that mean? Are we all now Japanese? Is the Fed pushing on a string, as Japan has done for almost two decades? [more...]

Date: 2008-12-20 13:29:22

best second mortgage loan

The idea of refinancing your second mortgage is undoubtedly attractive – if you can pay off your present 2nd mortgage by obtaining another with ... ? If so, then refinancing makes sense. Use the best second mortgage loan to your credit advantage. It can be an easy ... second mortgage loan. If you have bad credit it is likely that rates and fees will be [more...]

Date: 2009-01-14 04:56:59

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

Joe Strummer: My thoughts on the looming crisis

“Joe Strummer” is the pseudonym of a frequent commenter on BloodhoundBlog ... getting anything in return, it’s called inflation. Now, $1.2 trillion in new currency is bad, but not nearly as bad as when the Fed loans money to banks at a .5 interest rate. The Fed simply is printing [more...]

Date: 2008-12-21 03:05:51

McCain's New Plan

I'm not an economist, so maybe I just don't understand its true brilliance, ... . He said, "I would order the Secretary of Treasury to immediately buy up the bad home loan mortgages ... ." The government would convert failing mortgages into low-interest, FHA-insured loans.So the government would [more...]

Date: 2008-10-08 19:15:06

Home Equity Financing Options - Should You Get a Home Equity Loan?

div style=’float: right; width: 100px; padding: 5px; margin: 5px; background-color: #FFFFCC;’font size=1font color=’#cc0000′bTip! ... bank loans which are difficult to qualify for, you may get an equity loan with good or bad credit ... access to emergency cash may opt for an equity line of credit. However, if you are not interested [more...]

Date: 2009-01-12 15:30:50

(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

Clip Job: Sing a Song, Sing It Loud...

Clip Job: Sing a Song, Sing It Loud... by Tony Ortega (6:00AM 11/28) Blogsgiving: How the Locals Gave Thanks by Roy Edroso (9:56PM 11/27) ... at November 26th, 2008 6:02am If you don't want more bad news, then don't read about Henry Paulson's latest ... , Paulson plans for the government to soak up a lot of bad consumer debt. But his emphasis so far [more...]

Date: 2008-11-28 15:41:38

Study More About Mortgage: Errors To Avoid That Can Be Expensive As A Homebuyer

Acquiring a house is exciting and overwhelming at once ... have to know that a few mortgage errors are more costly than others. Not fixing your credit is the first error ... hoping their credit won’t prevent them from having a loan is astonishing! In order [more...]

Date: 2009-01-04 10:31:05

Free HPK (High Paying Keywords) for AdSense

Googling for the topic of this post can have you looking through subscription and pay sites all day - but we managed to find an actual free list of ... $53.68 bad credit equity loan $53.38 abdominal mesothelioma $52.99 cash settlement $52.98 student loan ... school loan consolidation $76.54 college loan consolidation $74.93 car insurance quotes $74.78 aut [more...]

Date: 2009-01-06 13:12:02

All Time Low Mortgage Rates For A++ Borrowers Only

As discussed on December 31, 2008 many homeowners attempting to lower their mortgage rate apply for a refinance, ... From Lower Mortgage Rates). Unless a borrower has perfect credit (at least a 720 FICO score), adequate ... , lower credit scores and cash out refinances.  The adders can easily amount to 2% of the loan [more...]

Date: 2009-01-15 08:09:46

Guarantee Mortgage For Bad Credit

Guarantee Mortgage For Bad Credit Published by Real Estate: Mortgage Refinance Articles from EzineArticles ... and Information Buying a new home or refinancing is an exciting thing, but when you need a mortgage for bad credit things can be a little more complicated. It doesn't mean you can't secure a loan [more...]

Date: 2009-01-16 15:37:07

Mortgage Loans for Bad Credit People

In this difficult situation, finding a loan is also tough. Most lenders become more careful in granting loans ... the loan. Fortunately, there is always a chance though it is rare for bad credit people to get loan. As you can see at mortgageloansbadcredit.com, there is an opportunity for bad credit people [more...]

Date: 2009-01-14 11:14:13

The sad facts of Metro Detroit refinancing

It is the hardest thing in the world right now to tell people they can't refinance.  They can get a Michigan mortgage.  The word NO  or I can't do it  are hard words to say.  I feel bad for these people ... on their homes They have good credit They have paid their bills and mortgages on time They have jobs [more...]

Date: 2009-01-16 13:16:35

Best Refinance Mortgage Rates - Ways to Qualify for a Low Refi Rate

Obtaining a low rate is a top concern for many homeowners who choose to refinance their existing mortgage ... . In this situation, you will notice a decrease in your monthly mortgage payment. Homeowners with a bad credit ... . For this matter, lenders will not offer you a super low rate on a refi mortgage with a bad credit history [more...]

Date: 2009-01-15 04:45:36

Trepidation About Quantitative Easing, Version 2.0

The Fed made official its move to quantitative easing today, and said it will take no prisoners until it has lowered rates and credit spreads further ... Securities Loan Facility to facilitate the extension of credit to households and small businesses [more...]

Date: 2008-12-17 10:28:49

When You Shrink The Gold Mine In California

The San Francisco Chronicle reports from California. “As home values continue to plunge, the real estate valuation service Zillow said that 20 ... in a refinancing,’ he said. ‘For homeowners who did that, the amount of equity in their homes is even less than [more...]

Date: 2008-11-12 22:06:39

Refinance Fees You Need to Avoid

If you are in the process of shopping for a home loan there are a number of Refinance Fees you need to avoid if you don’t want to ... paying too much for your next mortgage loan. Refinance Fees When refinancing your home mortgage loan ... an eye out for when refinancing. At the top of this list is the so called “rate lock fee.” Lenders [more...]

Date: 2009-01-11 20:49:27

Nothing Down, Nothing Forever

The Missoulian reports from Montana. “Craig Siphers had a notion that the run on real estate in the Bitterroot Valley might be slowing during the summer of 2006. But the longtime real estate agent with Hamilton’s Exit Realty couldn’t have predicted then just how far it would fall [more...]

Date: 2009-01-17 19:20:23

What Are the Pros and Cons of Adjustable Rate Mortgages - Is an Adjustable Rate Mortgage Good For Me

What Are the Pros and Cons of Adjustable Rate Mortgages - Is an Adjustable Rate Mortgage Good For Me Posted by Dark Spider at January 5, ... or refinance. While whats good and bad about these loans is usually dictated by the borrowers situation ... mortgage. What this will do is give you a lower monthly payment and extra money every month [more...]

Date: 2009-01-05 12:08:09

How To - Home Mortgage Refinance With Bad Credit

How To - Home Mortgage Refinance With Bad Credit Jan 12th, 2009 by Afiya If you have bad credit and are looking into a home mortgage refinance, ... to assist you in a refinance. Do you even apply in the “bad credit” category? If these statements below are true, your answer should be yes. -Do you have a credit score of 615 or lower? -Have you [more...]

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

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