Real Estate during a poor market

by Doc Schmyz OK a few ground rules for this article first. 1) Bad markets have happen before…and people still made money. 2) ... have gotten countless tips from other investors on investments and financing issues. Do not over look ... as finding the funding and the marketing/exit strategy as well. Finding financing Everyday [more...]

Date: 2008-10-20 20:33:15

Blog posts (571) | Videos (162)
 

Stocking Stuffer

Not a creature was stirring, not even a mouse… With the Federal Reserve cutting bank lending rates to near zero, ... up with a lot of what makes America both good and bad, modern and in debt. A friend told the story ... interest and never pays off the loan. That way, when the value of the house goes up, they can flip [more...]

Date: 2008-12-18 18:47:31

Creative Financing In Large Real Estate Transactions

I have a friend who has fallen on hard times, and he owns home that is (was) ... the valuations have fallen so far. Use Your IRA To Help Reduce Your Mortgage Balance The first thing ... collateral that they can borrow against. In the case of somebody who is trying to finance (or refinance [more...]

Date: 2008-10-10 12:38:03

Dow jumps 600 as US government pledges bank aid

NEW YORK - The Dow Jones industrial average rebounded as much as 600 points today as Wall Street snapped back from last week's devastating losses ... work through their concerns about the banking sector, the stagnant credit markets and the overall ... the market has started to carve out a bottom and that the credit markets where many companies turn [more...]

Date: 2008-10-13 17:47:29

The Home That Was To Be Their Nest Egg

ABC 7 News reports from California. “Monday was just another day at Marsh Creek Elementary in Brentwood. School keeps kids focused on things other than the housing slump which has devastated this community. Just a few miles away is the City of Oakley where 620 homes so far this year have been lost to foreclosure [more...]

Date: 2008-12-03 18:28:57

The end of The Columbian?

The Columbian newspaper in Vancouver is reporting that it will return to its old offices in a desperate attempt to stay afloat ... the company is trying to negotiate a new loan with its lender or will seek temporary Chapter 11 ... to financial health. Whew. I’m no expert but given what we’ve been hearing about the credit crisis created [more...]

Date: 2008-10-09 01:49:05

Mortgage Rates, Scary Jobs Details, Investing in 2009, Russian Gas Dispute, and More!

by Addison Wiggin & Ian Mathias Mortgage rates plunge to record lows… but are they at the bottom? ... of the credit crisis. “That’s bad,” Byron King somberly explains. “We already have an aging work force ... to 2009… how to invest amid rife market manipulation If you’ve got money, credit and patience [more...]

Date: 2009-01-08 01:36:29

Back to Basics: Reduce your debt

Being in debt simply means that at one point you borrowed money to fund some purchase, and are now paying it back over time. ( ... . There are many reasons why people go into debt, and they’re all not bad reasons. Funding a college ... one’s means, is usually a bad use of debt. Buying a car with a loan, though sometimes unavoidable [more...]

Date: 2008-11-16 07:24:43

Avoid These Three “Short-Term” Loans

Payday Loan Storefront In an ideal world, when you needed to borrow some money, you could just walk into your bank and just ask ... earned from folks who didn’t know they were getting a loan in the first place? Probably more than you’d think. Payday Loans Need a few extra bucks to make it through to your next paycheck? How [more...]

Date: 2008-11-03 10:50:51

Unprecedented Fearmongering

Unprecedented Fearmongering Anytime President Bush warned us about being vigilant as we fought the terrorists, Democrats would chastize him for playing on people’s fears. It’s to be expected, though, that these same Democrats aren’t critical after President-Elect Obama delivered a speech that’s mostly fearmongering with a tiny hint of optimism [more...]

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

Mortgage Has Become A Dirty Word

The Times Union reports from New York. “Condos are a relatively novel housing type in both Catskill and Greene County, meaning the Tower project was an experiment of sorts. The units were rentals at first, but Tower bought the Marina Drive property in 2003, added 14 townhomes to the site, and last year put them up for sale [more...]

Date: 2008-10-01 15:15:55

For the Class of 2009, job prospects appear grim. As an employment alternative, which is better: heading straight onto grad school, ... , may be better solutions.The Case for and against Grad SchoolIn any economy, both good and bad ... school also will allow you to defer loans, and may offer more affordable health insurance options than [more...]

Date: 2009-01-09 18:10:43

Gates of Vienna News Feed 10/5/2008

USABailout Bill Loops in Green Tech, IRS SnoopingCrowds Again Gather to Pray Before Image in WindowElection Precinct in Islamic Center That Hosted Extremist’s VisitMilitant Obama Youth March to ‘Alpha, Omega’ ChantN.Y. Times Whitewashes Obama-Ayers ConnectionRacism Without Racists Europe and the EUExtradition Bid Raises Fears of ‘Thought Crime’ [more...]

Date: 2008-10-06 00:49:00

Cochrane and Rogoff on the PBS News Hour

I'll try liveblogging. Here is a transcript. For what Rogoff was thinking the other day, see this op-ed. (We exchanged emails briefly on Saturday ... that. If he's right, then the taxpayers will end up owning a lot of bad assets regardless ... -fashioned way. That is, if a bank gives you a mortgage loan and keeps the loan, waiting [more...]

Date: 2008-10-03 00:36:07

The Coming Great Depression

Martin Armstrong: The Coming Great Depression It is frustrating to read so many comparisons of our current situation with 1929 while watching ... may signal a recession, but the collapse in debt signals a Depression. This Depression was set ... and shifted spending that created jobs into the banks as interest on things like credit cards [more...]

Date: 2009-01-08 03:55:35

Toxic Waste Dump- Dumped on us…

January 16, 2009Taxpayers Vs Shareholders We’ll be paying good maney for thisOn this one, Tyler is stuffed either way ... here for summary). Total admitted loan losses by US and European banks have now reached a staggering ... dining rooms senior management are gagging at the stink.Hence the latest plan - the so-called Bad [more...]

Date: 2009-01-16 12:24:00

Okay NDP. Listen up: “Debt is the pariah in the new economic order”

There was a good article in Saturday’s Globe by industry player (read: not a lame reporter) Tom Bradley entitled “Debt is the pariah in the new economic order”. This is a reality that all Canadians, especially policy makers need to understand.Interest on debt, like distributions on income trusts is paid from pre tax cash flows [more...]

Date: 2009-01-14 16:01:00

Things You Tend Not To Spend Much Time Thinking Seriously About When Making A Decision To Relocate

I have had this item on my blogging to-do list for probably 18 months now, without attempting to address it ... s start with credit history, something discussed in this blog a long time ago. Or, rather, your lack of such overseas, which will hamper your efforts to obtain auto financing or even apply for local credit [more...]

Date: 2009-01-15 20:29:06

David Sirota: Top 5 Reasons to Vote Against Paulson's $700 Billion Bailout

There's news this Sunday afternoon of a congressional deal to bailout Wall Street fat cats with $700 billion of taxpayer cash ( ... INHERENT FISCAL INSANITY COULD MAKE PROBLEM WORSE When an individual consumer uses a new credit card to pay off astounding debt from an old credit card, it's called kiting, and in many cases [more...]

Date: 2008-09-28 23:35:52

Now is Not The Time to Panic

“I know people are scared watching the markets unravel. Don’t panic. That is the worst thing that you could do in a market like this. Think about it ... and remember this too shall pass. We will not fix decades of overspending, a housing bubble and credit ... was one approach to fixing the financial institutions that we need to remain healthy [more...]

Date: 2008-10-07 16:39:05

Deal Journal] Bottom Feeding: Banco Santander of Spain is in advanced talks to take full control of Sovereign Bancorp, ... the credit crisis? Look to a measure called Value at Risk, or VaR, explains Gordon Crovitz. WSJ ... a program to buy mortgage-backed securities. The United Arab Emirates will guarantee domestic bank [more...]

Date: 2008-10-10 14:10:24

Financial Help

With the price of gas sky rocketing nowadays, there's no doubt that life is getting harder and harder ... you can get cash by applying for a quick easy payday loan at Yellow Leaf Financial. They offer national personal loan services which offer fast applications for any credit type. Whether you have a good or bad [more...]

Date: 2009-01-12 14:15:57

As Word Markets Rally, A Fog Of War Envelops Trading

When the stock markets around the world raced down earlier this month, there was some sense to it ... has righted itself and the average citizen is flush again with money from his home equity loan and six credit ... . The credit and liquidity troubles were real. Corporate earnings became progressively troubled [more...]

Date: 2008-10-30 10:25:47

Mortgage Market Week in Review

I want to apologize for the delay in getting this out until Saturday.   Due to some technical difficulties and some new things I’m going to be implementing, Friday was spent working on computer issues.   Yeah, I know, a fun way to spend a Friday….. So, here we are at the end of the week and what’s happened? [more...]

Date: 2008-11-01 17:23:56

Gates of Vienna News Feed 1/8/2009

The latest word is that an agreement with Russia has been reached, and the flow through the gas pipeline will resume.Also, look for the storming of the Israeli consulate in Montreal, as well as other Gaza-inspired violence around the world.Thanks to AA, Abu Elvis, Insubria, JD, Tuan Jim, Vlad Tepes, and all the other tipsters who sent these in [more...]

Date: 2009-01-09 04:49:00

Ken Lewis and the ‘Damned Disaster’

The broken windows theory: shattered glass at Bank of America’s tower in 2007. (Reuters) ... has agreed to buy a major investment-banking powerhouse beset by bad bets on debt securities (Merrill ... . With the credit markets still seized up and the government throwing money from helicopters [more...]

Date: 2008-10-07 17:29:08

Four at Four: Frozen Cars, Falling From the Sky

Car Sales, or lack thereof By now, the slogan has been reversed: what’s bad for America is bad for General Motors ... of the war and each subsequent economic period. “As bad as recent results have been, it is quite ... This is an all-out player freeze — there are players that can’t get credit, so they can’t buy a car and there are players [more...]

Date: 2008-11-03 12:43:00

Closing Out Ten Odd Lots

1) Do you need new investment ideas?  John Dorfman’s column at Bloomberg is back.  There are some good ideas in the second column ... credit for political gains.  Some of the debt proceeds are used to buy up other bad debts, others ... is doing will cause more harm than good, because they delaying the reconciliation of bad debts. 3) We must [more...]

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

Fannie and Freddie to Announce Mass Loan Modification Program

re-default. This may also further erode investor confidence in residential mortgage backed securities, ... monies to put towards housing payments. Step 3) Start Improving Your Credit Rating This can take a long ... you pay your bills on time, that you have good credit.  Paying your bills on time only accounts for 30 [more...]

Date: 2008-11-11 19:02:07

Why Does The GOP Want To Destroy The Auto Manufacturing Sector?

Three dangerous reactionariesI can't say what I liked less as a kid, going to the dentist or going to a Broadway musical. But I've never gotten one musical, or one scene from a musical, out of my head. I was around 10 when my mother dragged me to see the musical adaptation of Al Capp's comic strip, Li'l Abner, at the St. James Theater [more...]

Date: 2008-11-17 16:00:00

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

Bad Credit Loans

Are you short of money? Scared that you may not be able to buy your own house you promised your wife this birthday? ... to know more visit the site. They also have extensive material on how to clean up and repair bad ... Planning to apply for a loan but don't have a good credit to get one? Then stop worrying. Bad [more...]

Date: 2009-01-12 16:38:32

Why I'm still concerned about yesterday's vote and its impact on the economy

I find fascinating this entire discussion of whether or not voting down the bailout bill yesterday poses an economic danger to the US ... that all is not lost. But credit markets are still frozen. Practically no one in America can get a loan right now. No one. So I decided to use the Google and find out more about what this credit crunch really [more...]

Date: 2008-09-30 16:57:50

Credit Crisis Timeline

This is lifted from American Thinker, and by the way to the editor if you'd prefer I not take so much of the text leave comment or email me, ... to my article Why banks aren't the bad guysThe Growing Government Hand1933-1938President Franklin ... backed by the Federal government.1970President Nixon chartered Freddie Mac, the Federal Home Loan [more...]

Date: 2009-01-02 12:09:00

An AP Stats Lecture

Because yesterday's hearing ran so late, I missed my AP stats class. Here is the way I would explain what went on to my students ... , you lose about $50,000. If the borrower pays on time, your profit is about $100. So approving a bad ... has a credit score, called a FICO score (FICO is an acronym for Fair, Isaac Company, the name [more...]

Date: 2008-12-10 14:20:10

Boston Tea Party Presidential candidate Charles Jay answers Obama-McCain debate questions

Posted at cj08.com (I wasn’t invited to Friday night’s presidential debate, but you knew I was going to weigh in anyway. My “participation” comes in the way of interspersing my responses into the actual text of the debate, which you will see below. All of those responses to the questions asked by moderator Jim Lehrer are in bold type [more...]

Date: 2008-09-27 18:49:05

No Bailouts For Billionaires -- And No Bail For These Bums Either

Let's make a deal before the markets open in Asia My financial advisor is pretty conservative with her suggestions ... named Paulson (not related) and some "vulture capitalists" who are buying up bad mortgages ... they presided over the packaging and sale of loans that helped bring down the investment-banking system [more...]

Date: 2008-09-28 13:00:00

The View From Southeast Michigan: Economy

When I wake up everyday, I wake up in Southeast Michigan the Macomb county part, the view isn’t all that great.  The gas prices may be down but are still high enough to put a hurtin’ on your pocketbook.  Jobs are constantly being lost, last month I heard a couple guys talking about how their plant just shut down with little notice [more...]

Date: 2009-01-02 18:52:25

E is for Economy. D is for Downsizing. And S is for Smelling the Roses.

 The typical home in the US today is double the size of what it was in 1940, with two or more baths and a mean of two rooms per person (!), but the average individual isn't any happier. Does a couple or small family really need to live ... , and ability to obtain credit. I wish to make the (perhaps unpopular) argument that losing [more...]

Date: 2008-10-25 00:58:58

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

Why Have Homeowners Been Forgotten?

As part of the latest directional shift in the allocation of the bailout funds being managed by Hank Paulson, ... prescribing less governance on the application of those funds than is required to redeem a typical ... of the money to buy rotten mortgages and other bad assets from banks. That had been the centerpiece of the plan [more...]

Date: 2008-11-19 17:40:58

Thanks Hank: AIG Wants A Third Loan While Ten Percent Of $700 Billion Bailout Could Go To Bonuses

Chris Carey wrote this: When the Treasury Department’s bailout czar provided an update this week on the government’s $700 billion plan to rescue ... . AIG has already used two-thirds of its $122.8 billion credit line in the past month to cover bad bets made on the U.S. housing market. A third loan would add to evidence that an emergency $85 [more...]

Date: 2008-10-20 21:24:37

DrumBeat: December 18, 2008

Oil drops 9 pct as demand outlook overshadows OPEC NEW YORK (Reuters) - U.S. crude prices dropped more than 9 percent to $36 a barrel Thursday as slumping demand and swelling U.S. inventories offset OPEC's record supply cut agreement. The Organization of the Petroleum Exporting Countries on Wednesday agreed to cut output by 2 [more...]

Date: 2008-12-18 13:42:11

Buy a New Car or Fix the One I’ve Got?

I knew it. I just knew my car was in bad shape. I’ve talked about it before, and I knew it was going to happen ... looking at about €4,000.” We don’t have €4,000. Not only that, but we won’t get approved for a loan ... of money, it’s going to have to be through tapping the open line of credit at a gazillion percent [more...]

Date: 2008-10-17 10:00:17

Maybe I DO like rap, after all.“I Want My Bailout Money” is the first song on the new hip hop album by NaturalNews.com editor Michael Adams ( ... LyricsI want my bailout money Keep the bills coming Sweet green cash just drippin like honey I’m a new ... robbed blindHow do you think we got runaway credit? Ain’t nothin goin down unless the crooks [more...]

Date: 2009-01-12 17:36:53

Bailout fails. World goes on.

Financial institutions must be allowed to fail, and the market must be allowed to return to equilibrium ... on Main Street, where rising prices and the economic slowdown outweigh credit concerns, according ... conditions has yet to detect anything that would indicate severe credit stress among its members [more...]

Date: 2008-09-30 12:24:24

I WANT MY BAILOUT MONEY

“I Want My Bailout Money” is the first song on the new hip hop album by NaturalNews.com editor Michael Adams (the “Health Ranger”) ... do you think we got runaway credit? Ain’t nothin goin down unless the crooks in Washington let it Now they regret it but they still don’t get it Cause the economy is crashin so bad it needs [more...]

Date: 2009-01-11 18:30:32

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

Carnival of Personal Finance #179 - Smile Edition

Welcome to the 179th edition of Carnival of Personal Finance. This week, I want to remind everyone to smile because there’s never enough happiness in the world! Editor’s Choice Photo By Richard M. Reading these articles just brings a huge smile to my face! Great positive advices are what we should all be writing about! [more...]

Date: 2008-11-17 08:01:51

GMAC Now Officially Requires 700-Plus FICO Score For New Car Loan [Financiapocalypse]

The Financiapocalypse continues. We just received a copy of an e-mail that went out at GMAC, the lending arm jointly owned by GM and Cerberus, ... : you'll now need a minimum 700 credit bureau score to get a car loan at dealer invoice or below from GMAC ... such as dealer wholesale financing, until the credit markets are stabilized. To assist dealers, GM [more...]

Date: 2008-10-13 22:20:00

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