Houses, Credit Reports, Lenders….ACK!

Wondering about buying your first home? Are you ready to move up or down-size? Have you heard they aren’t making loans any more? ... gift’ you cash for a down payment. AND *You don’t need stellar credit with FHA loans! Bad things ... your needs. *Good credit; your credit score needs to be 620 or higher, in most but not all cases. FHA [more...]

Date: 2008-11-08 12:00:06

Blog posts (461) | Videos (120)
 

Buying a home with creative financing

With home prices falling and problems in mortgage markets continuing, buyers and sellers both stand to benefit from creative financing ... broker, even with bad credit. Before the growth of the subprime loan market, there were swindlers ... ,” for home buyers who didn’t meet traditional qualifications because of credit, income or job [more...]

Date: 2008-12-21 14:31:04

Obama Proposes Moratorium on Foreclosures

While Senator John McCain is urging the government to buy bad home loans, ... against foreclosures and an $800 mortgage tax credit per year for homeowners who fail to itemize ... , the Hope for Homeowners. The program encourages homeowners to apply for refinancing [more...]

Date: 2008-11-14 13:02:58

So, What Is A PMI?

Buying a home is a realization of a life long dream and for many a symbol of “making it” in life ... of the American and the world economy; many experts believe. Consumers with bad credit wishing to attain ... in order to recover the lost costs of the loan. Mortgages were a favourite way of buying homes before [more...]

Date: 2008-09-17 09:42:48

Socialism Is Everywhere

by hilzoy In a stunning reversal, John McCain today endorsed the redistribution of wealth: " ... do, and that's go in and buy out these bad mortgages, give people mortgages they can afford, stabilize home values and start ... : "He will commit a $5,000 tax credit for each and every customer who buys a zero carbon emission [more...]

Date: 2008-10-29 05:48:29

Bad Credit Car Loans

The worst case credit scenario for all of us is bankruptcy. I read an article by a bankruptcy attorney once that people’s biggest fear when they’re deciding whether to go through bankruptcy is that they’ll never be able to own a home again and they’ll never be able to buy another car. Those fears aren’t really justified, but it’s true that borrowing for cars and houses is going to get much tougher after you’ve gone through the big BK. [more...]

Date: 2009-08-15 13:17:19

Bad Credit Report Repair Done Easy

Usually it’s about the time that someone needs to buy a new car or is about to purchase their first home that they realize that they are going to need to do a little bad credit report repair. While it can be quite costly to hire a professional to help you get your credit rating back on track quickly, there is hope for people [more...]

Date: 2009-01-15 18:01:59

A Review of Auto Loans Online

I have worked for 2 years. My home is far away from the company. So I have to take on 2 buses every day. I feel so tired. I wanna buy a car ... by the dealership. I know the advantages of getting a loan online such as lower rates, instant approval, auto loans for bad credit and so on. Even if you have a bad credit before, don’t worry, you will be [more...]

Date: 2008-12-13 11:12:02

Easy Bad Credit Report Repair

Usually it’s about the time that someone needs to buy a new car or is about to purchase their first home that they realize that they are going to ... need to do a little bad credit report repair. While it can be quite costly to hire a professional to help you get your credit rating ... [more...]

Date: 2009-01-16 11:42:59

Leituras

“The Goal Is Freedom: Theory and Crisis” de Seldon Richman What might be even more distressing than the current buildup of the corporate state in ... banks’ bad mortgage-backed securities, it will inject liquidity into the credit markets and improve ... through promotion of easy home-buying and implicit guarantees to lenders and underwriters, including [more...]

Date: 2008-10-13 08:43:21

Can't Anybody Play This Game? The McCain Campaign Defies Belief

You know, we have llike seen this before. On health care: ... to immediately buy up the bad home loan mortgages in America and renegotiate at the new value of those ... McCain started with a tax credit that was equal in aggregate to the additional tax he levied [more...]

Date: 2008-10-09 05:19:26

Borrowing for your home loan will get more expensive, Oct. 1

Thinking of buying a home this fall? You may want to close prior to October 1 or November 7, depending on who your lender is ... of their individual risk characteristics … And, if you’ve been bad (credit score under 720), you’ll pay ... quarter-point higher fees upfront. But, if you’ve been good (credit score above 720): Both [more...]

Date: 2008-08-20 14:00:40

Credit Ratings Are Often Underestimated

People know that getting into debt can be a bad thing ... underestimate their credit. They figure that if they aren’t financing a vehicle or looking at buying a new home, then they don’t have anything to worry about. Credit governs interest rates and loan [more...]

Date: 2008-12-08 17:01:07

The Ups and Downs of Buying a Home

Pretty soon this will be our yard! We’ve been on the home buying roller coaster for almost a month now, ... .  We meet my dad at the house and tour the inside.  It’s in bad shape, but we like the lot ... the numbers, checks our credit, and determines that we should have no trouble qualifying.  That night [more...]

Date: 2008-07-24 11:00:15

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

Countrywide On Brink Of Losing Lending License In Washington State

Countrywide Office In the latest of what seems like bad report after bad report for Countrywide, ... in the nation, and in fact largest lender in some markets. With today’s tightening credit markets, acquiring a loan to buy a home is getting harder and harder--now take out the top lender and just think how [more...]

Date: 2008-06-26 20:07:00

How to Find the Right Mortgage

by katie George A mortgage that is properly suited to an individual’s needs when buying a home can save the individual thousands while a mortgage ... be considerably more or less by the end of the mortgage. Individuals who have no or bad credit ... one is the right one. First one needs to understand the different options available to them. For people [more...]

Date: 2009-01-07 00:31:19

We’re Never Going To Go Back To The Heyday

The News Journal reports from Delaware. “For Delaware in particular, key industries are sensitive to national economic conditions ... a certain credit score. Deborah combined the No-Document Loan with another loan and was able to buy ... . That point has been hammered home in recent weeks with employers dumping bad news on workers. ‘” [more...]

Date: 2008-10-24 15:48:52

Consumer confidence falls to record low

The Conference Board reported a record low in consumer confidence in the U.S. going all the way back to 1967 when record-keeping began ... percent. In bad news for retail sales, only 4.4 percent of the sample say they expect to buy a car ... . Falling home equity, plunging stock markets, and a credit crisis, the likes of which few [more...]

Date: 2008-10-28 15:34:00

PPI and Retail Sales Dominate The Calendar

The economic calendar starts very slow this week, with only the Pending Home Sales report coming on Tuesday ... to show another decline, although not as bad as the October report. With limited access to credit, consumers aren’t buying much right now even though we are approaching the holiday season. The report [more...]

Date: 2008-12-08 14:30:40

Finding Money for your Borrowers

With the credit crunch in full swing, investors should start to pay attention the the lending options available to their buyers ... with a down payment.  While this is not a bad thing long term it certainly is not good for sellers come ... Rural Home Loan Program has been an alternative solution for those that buying and selling homes [more...]

Date: 2008-08-07 22:30:34

FHA Loans- Affordability Solutions for First Time Homebuyers

Author: Jared Martin “FHA” and “First Time Homebuyers” are real buzzwords as far as home buying is concerned, ... . The intent of this article is to quantify the features of this loan, both good and bad, and discuss ... Housing Authority. Recent events in the credit markets have made the FHA loan a true affordability [more...]

Date: 2009-01-02 03:10:31

HOUSING PUSH FOR HISPANICS SPAWNS WAVE OF FORECLOSURES

For years, immigrants to the U.S. have viewed buying a home as the ultimate benchmark of success ... loans, which carry high interest rates and are tailored to borrowers with low credit scores or few ... the housing boom. But when these markets began to weaken, bad loans depressed the value of neighboring [more...]

Date: 2009-01-06 13:19:54

Asia could see widespread credit defaults soon

Anyone still want to buy the "de-coupling" economic theory? ... be forming among small and medium-sized companies in Asia, raising the spectre of a pile of bad loans ... up. Several Hong Kong companies have shuttered factories in China, including home appliance maker BEP [more...]

Date: 2008-10-23 04:15:04

U.S. Government Should Publish All Mortgages It Buys

It appears that the United States government is going to purchase hundreds of billions of dollars worth of bad mortgages in an effort to prevent the ... -- affected directly by failing mortgages, decreasing home prices, and the accompanying social problems ... of the Bear Stearns High-Grade Structured Credit Strategies Master Fund. This fund is a classic [more...]

Date: 2008-09-24 22:11:26

The Bad Paper Chase

And the handout/buyout craze continues. The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt ... obligations from mortgage giants Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks ... also unveiled a new program to help unfreeze the market that backs consumer debt such as credit cards [more...]

Date: 2008-11-26 00:46:42

The Road to Zimbabwe

By Terry Coxon, Editor, The Casey Report GoldSeek.com Sprinkled among all the official talk about efforts to end the current recession, you’ll hear assurances, notably from Federal Reserve Chairman Ben Bernanke, that when the economy does revive, it won’t be allowed to blast off into runaway inflation. The Fed, we’re being promised, will prevent such a launch by reabsorbing the hundreds of billions of dollars of excess liquidity it recently created to halt the credit crisis. [more...]

Date: 2009-09-30 12:40:48

Australia’s Premier Gold Bug Conference

This weekend's edition of the Daily Reckoning is a little unusual. Dr. Alex Cowie is on holiday in Queensland and I've only just returned from a publishing conference myself. And because I was travelling this week, I didn't write a full complement of Daily Reckoning notes. So instead of reviewing the week's events, I thought I'd tell you about a noteworthy phone conversation I had on Friday morning. "Australians are staking a lot on their understanding of what's really going on with gold. [more...]

Date: 2009-09-28 07:03:19

Miguel Barbosa Interviews Michael Mauboussin: Author, Investor, & Multidisciplinary Thinker

Benoit Mandelbrot once said that “failure to explain is caused by failure to describe”. The world has experienced one of the most severe financial crises. How should we make sense of what happened? Without a doubt, we should describe the financial crisis in a multidisciplinary fashion. Only through multiple perspectives can we begin to uncover the origins of the “great recession”. Today, I’m pleased and honored to have one of the foremost experts in multidisciplinary thinking, Michael Mauboussin. [more...]

Date: 2009-09-28 16:43:17

How to Hedge Against Inflation With a Home Equity Loan

Home equity loans were a large part of the consumer credit expansion that fueled the economy for more than a decade. The housing market bubble drove up housing asset prices, but without refinancing a homeowner couldn’t spend their new found fortune unless they got a home equity line of credit. If you are unaware of the coming wave of inflation that will threaten to unravel the global financial systems, all I can say is wise up or read some of my previous articles .  If you are aware of [more...]

Date: 2009-09-29 14:00:00

Bailed Banks

The Bush-Obama strategy of throwing trillions at the banks to solve the mortgage crisis has been a failure. The banks welcome public money to remove toxic assets from their books, insured by we-the-taxpayers, as well as the hundreds of billions in direct handouts, but they’ve hardly returned the favor. They’ve used these funds to pay mega salaries and prop up stock values, choices that obviously benefit them. They needed public support, no one wanted the system to collapse. [more...]

Date: 2009-09-30 21:58:57

We Don’t Expect to See Australian Banks Suddenly Keen to Expand their Loan Books

It seems appropriate that hopes of a further rally in the Aussie stock market are being pinned on the IPO of a retailer. It's like saying a prayer to the god of consumerism for share market salvation. Amen. The $2.5 billion listing of Myer is expected this week. And what better way to celebrate a six-month reality-defying rally than the listing of a consumer-driven business? Happy days are here again! Not that we have anything against Myer. It's a good store. [more...]

Date: 2009-09-28 03:56:38

Behavorial Ways To Limit Your Spending

If you overspend on a regular basis you might consider trying some behavior-modification techniques. Like an over-eater who can’t stay out of the ice-cream at home, you might be well served with adjusting your behaviors to be more successful. use the envelope system cut up credit cards, or freeze them in a block of ice put a program on your PC that blocks “bad” sites, and set it up to filter out online shopping sites only shop with a friend only shop from a list, and never exceed the [more...]

Date: 2009-09-28 10:33:51

Don't confuse political consensus with wisdom

We won't know the full story on Iowa's film tax credit for weeks, as investigators look into lax oversight and other problems at the Iowa Department of Economic Development. It may be months before we learn whether Iowa taxpayers will end up paying around $110 million or as much as $300 million in exchange for some temporary jobs in the film industry. One thing is already clear, however: the original bill creating the film tax credit laid the ground for this costly mistake. [more...]

Date: 2009-09-28 16:59:04

Free crack.

So many interesting things in the meeee-dya — every so often I like to say it like the pests who brayed it in my ear all these years — this weekend. I hardly know where to start. As many of you know, Detroit is having a moment in the national spotlight; Time magazine bought a house in town to be home base for its yearlong look at the city. Their first cover story is either this week or last, but I haven’t read it yet (although I bookmarked the blog ). [more...]

Date: 2009-09-28 06:10:32

Distressed For Sale

While buying and selling regular homes might provide you with a limited profit margin, it is in buying distressed homes, rehabbing them and then selling them off, which can provide you with a very high margin. This specialized niche will require you to develop an extensive network of information of sellers and buyers and thorough legal knowledge to ensure that you do not get stuck with a desirable property at an undesirable rate or get caught in a legal wrangle after you have purchased it. [more...]

Date: 2009-09-30 10:22:22

The 7 new rules of financial security

In a world turned upside down, you must re-examine some basic assumptions. A good place to start: understanding the true nature of risk.John Maynard Keynes, the Depression-era economist who’s having quite the comeback, once quipped when he was accused of inconsistency: “When the facts change, I change my mind. What do you do, sir?”Money has long advocated the benefits of consistency in your investing and financial planning. [more...]

Date: 2009-09-29 10:57:27

Giants Open Thread: ‘Bucs Got Seal-Clubbed’

A Web roundup of what they’re saying about the Giants (3-0), but first a view from Tampa Bay that is reminiscent of John McKay’s quotation about an earlier Bucs team: When asked what he felt of his team’s execution, McKay replied, “I’m in favor of it.” Joe Henderson, The Tampa Tribune:You can break this game down in more detail if you want, but why would you? The Bucs got seal-clubbed.No telling what the crowd would have looked like if so many Giants fans hadn’t shown up. [more...]

Date: 2009-09-28 12:00:19

Foreclosure Scams You Want To Avoid

by Adam Whazzer Foreclosure is one of the worst things that can happen to a homeowner. Knowing there are scammers waiting to prey on your desperation and vulnerability makes the situation even more worrisome. Thousands have fallen prey to phony foreclosure counseling, phantom help, bait and switch, rent to buy, and bankruptcy foreclosure scams. Being able to know the telltale signs of a foreclosure rescue scam can save you the agony and suffering of becoming yet another victim. [more...]

Date: 2009-09-29 19:23:35

Concerns Of Home Buyers

by James Weekson There are many who want to purchase a home, but are scared after hearing all of the talk about how nobody is lending money and for people with a bad credit rating that of course means there is no way of obtaining a mortgage. First of all, there will always be a company around that will lend money and even though high end banks often restrict the amount lent out and to whom they lend money to, there are always other options available. [more...]

Date: 2009-09-27 17:36:13

Get Car Insurance Rate Comparisons Online

Auto word deductibles On my approach to a association certified seminar, a deer strike my car, causing substantial damage. As it was my personal car, not my company’s, my automobile word will be used to cover a damages. Free automobile word rate quotes and brand new automobile prices direct. Auto policies have been heavily regulated by a state we live in and many situations need word to compensate no make a disproportion who’s pushing your car. [more...]

Date: 2009-09-29 18:24:18

How To Continue Purchasing What You Need and Want For Less In This Hard Economy

You can not seem to read a newspaper or magazine or turn on the television without people reporting about the tough economy and offering tips on how to make your dollar go a bit farther by saving money. This article will discuss how to save money on your wardrobe and fashion by buying Discount designer handbags such as Gucci replica handbags to saving money each week on your groceries. It will also discuss how to save money in other ways too . [more...]

Date: 2009-09-28 03:14:21

Where has the Bailout Money Gone? Good Billions After Bad

Where has the Bailout Money Gone? Good Billions After Bad Vanity Fair by Donald L. Barlett and James B. Steele As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much of it ended up in the wrong hands, doing the opposite of what was needed. Just inside the entrance to the U.S. [more...]

Date: 2009-09-28 06:17:36

Top Gun FP Client Note: The Crack Based Economy

NOTE: Every week I write a Client Note for my clients.  For a limited time, I am allowing non-clients to sign up and receive the Client Note.  You can sign up at the top right hand corner of the website.  Here is this week’s. ***** Yes, the financial crisis has passed and the economy is growing again, but there’s a good chance that growth will be temporary - the result of one-time events like “Cash for Clunkers”, the tax credit for first-time home buyers and the restocking of inventories [more...]

Date: 2009-09-29 20:08:02

The Best of Get Rich Slowly (2008 Edition)

The past ten months have been amazing: I quit my job at the family box factory at the beginning of March to become a full-time writer ... to be paid automatically. I’m wary of my credit card company, however, so I process that by hand every ... in no particular order. These offer a great representation of my philosophy and my approach to personal finance [more...]

Date: 2008-12-31 13:00:31

Friday morning links

TOP STORIES Rate cut from Japan, Barclays seeks funding - Reuters Nevada, Michigan, Florida lead 'underwater' list - AP Housing plunge: ... is more likely than many assume - MarketWatch Banks, consumer advocates urge U.S. to allow credit card debt ... it feels so bad - CNN/Money Economic data point to the start of a recession - LA Times Recession Ghost [more...]

Date: 2008-10-31 13:20:00

The Three Factors of Personal Loans

by Martin Elmer A personal loan (consumer loan, private loan) could be an option, if you are short on money. But before you are raising a loan, you better learn about concepts like security, fees and interest rates. So what is a consumer loan? A consumer loan is a loan taken by an individual. Normally the loans are raised to pay for some kind of buying expense (like a television or a vacation). But it can also be relevant to take a loan to pay other debt. [more...]

Date: 2009-09-28 19:25:44

Review: Nokia BH-905

The good Comfortable design Very good noise cancelling Excellent audio quality Comes with an array of audio connections in case your device does not have stereo Bluetooth The bad The active noise cancelling on the Nokia BH-905 can take a second or two to activate The headset is comparatively expensive While we love the idea of cord-free portable music, stereo Bluetooth headsets are often maligned with poor quality audio. Or at least, that's how it was in the past. [more...]

Date: 2009-09-30 06:38:01

Dealing with Uncertain Economic Times

I find a strange melancholic amusement to learn that many of these investment banks’ CEOs and boards of directors — people being paid millions of ... their ability to score a new position in a year’s time? Not one bit. These things will simply be chalked ... in the midst of trying), or other significant credit. If you’re trying to start a business [more...]

Date: 2008-09-23 20:00:00

Find Out What Debt Validation Means And Why It’s Important

Imagine getting a phone call or a knock on the door, and when you answer it, a person called Victor says that he been authorized by someone name Joe to collect a debt that you owe him, and it’s true that you do owe somebody called Joe some money. Even if you had the money, and knew that you owed it, would you pay this new person on the scene? I’m pretty sure that you wouldn’t even consider for a moment giving Victor any money, until you were 100% sure that he was really acting on Joe’s behalf. [more...]

Date: 2009-09-26 20:20:24

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