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
Blog posts
(440)
|
Videos
(114)
Subprime is not necessarily subprime
Continuing on with the discussion of the financial crisis… One item that seems to be either confusing or misunderstood is that there is no “subprime” loan. Borrowers are assessed based on credit score, credit history, down payment ... A (A- to D) are all considered subprime. Loan performance varies widely based on the borrower’s grade. In March 2004 [more...]
Date: 2008-10-30 16:39:14
Mortgage Rates Drop! It Does Not Mean What it Used to
Fed announcement, 30-year fixed were roughly 6%. As of today all of the hype that low rates are going to save housing is about less than ... . The 5.5% rates that are making everyone so giddy are what’s known as ‘base-rates’ for perfect credit ... . Perhaps two years ago when when house values were soaring, credit was easy, the mortgage market [more...]
Date: 2008-11-26 17:09:00
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
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
Commercial Real Estate Mortgages - Basics to Getting Your Loan!
There is quite a difference in the process of obtaining a commercial real estate mortgage versus obtaining a loan to buy or refinance residential ... person” separate and distinct from its owners/shareholders. It has its own credit rating ... . They have made good money and feel they are now in a stronger credit position and would [more...]
Date: 2008-11-23 06:01:14
Housing Stimulus Bill Explained
This week, the Senate passed a housing bill a little over a week ago (the House joined last Wednesday) ... from their current state to an FHA insured loan. It’s help but it’s not a get out of jail free card, you’ll see ... who erroneously got themselves into bad loans, it doesn’t help the people who intelligently [more...]
Date: 2008-07-29 01:42:09
People make mistakes...
... but for really fucking colossal mistakes, well, you can nearly always look to the state for those. Let us take the Credit Crunch... Now, this was partially caused by greedy bankers, it is true; but it wasn't entirely their fault. Y'see, what is at the heart of the Credit Crunch is a loss of faith in the value of mortgage loans [more...]
Date: 2008-09-21 01:45:31
Tips On Getting Home Mortgages
by John Bear Basically, mortgages are being used on real estate properties rather than other properties, so when you think of a mortgage loan, ... , and bad credit mortgage loans. Now, there are different ways of repaying mortgages and that includes ... for the loan. When a person takes a home mortgage, it will defer him from paying the purchased home [more...]
Date: 2009-01-04 09:52:35
Good Bye to 2008 - A Look Back At a Crazy Year for the Economy
2008 is finally at an end, and as the economy totters forward, we can say we survived a tumultuous year. That is an understatement ... was near Chicago mortgage refinance imploding. As overseas market started to tank based on bad news ... . In hindsight, the fan was just starting to spin last year. It was this year that the bad decisions [more...]
Date: 2009-01-01 02:08:08
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
Another Bailout Plan: Directly Bailout Homeowners
—Ace Actually, if you accept "bailout logic" at all, this makes the most sense and should have been done from the beginning ( ... credit and a mortgage can refinance at a new lower rate. Treasury Secretary Henry Paulson ... mortgage rates to 4.5 percent would allow most homeowners to refinance into a cheaper loan, far fewer [more...]
Date: 2008-12-06 06:32:52
FDIC Underestimated The Risks Of Falling Home Prices
With so many lenders looking shaky these days, it brings up the question of how well prepared the FDIC is to deal with lender failures ... possible. Apparently the wave of refinancing that occurred after interest rates lowered ... concerns (Home Equity Line of Credit), but adressed concerns with the mortgage industry in general [more...]
Date: 2008-07-23 07:02:00
Have You Looked At Rates Lately?
Many lenders were quoting under 5% this last week. Many experts believe it is heading to 4%. Why would that be happening? ... amount of good events. The crises was caused by one bad loan funded at a time. Good events ... on a conventional loan. It did on an FHA insured loan. The experts I follow don’t believe rates will stay down. Act [more...]
Date: 2008-12-15 09:05:02
How Much Can Lenders Low-Ball Their Quotes?
I'll keep hitting this and hitting this until everybody understands this critical point. From email: First of all, I love your website ... , I was told to believe that the rate they will quote us will be based on the middle credit score between the three credit score bureaus. They used the lowest credit score. I am worried that come closing day [more...]
Date: 2008-09-13 15:55:56
There Will Come A Bust In Every Boom
The Rocky Mountain News reports from Colorado. “One out of every four previously owned homes purchased in the Denver area during the heart of the summer sales season was a foreclosure. And in Adams County, one out of every two homes closed from mid-June to the end of July was a foreclosure sold by a bank or other lender, [more...]
Date: 2008-08-14 15:15:06
Is an Adjustable Rate Mortgage a Good Idea - A Look at How Adjustable Rate Mortgages Hurt Borrowers
The Ugly Truth About Adjustable Rate Mortgages Adjustable rate mortgages are very appealing to many home owners because they offer a low initial ... to fall behind. This in turn causes their credit scores to drop and in the end they are unable to refinance due to missed payments and bad credit. Another common cause of trouble with adjustable rate [more...]
Date: 2008-11-28 06:01:06
The Bailout Alternative: Virtual Mark to Market
According to some pundits, the simplest solution to our economic crisis is to suspend or abolish the mark to market accounting rules ... . SO, the lender demands that the borrower raise cash immediately or add assets to make their asset total higher. If the borrower does not, the lender will either take back enough assets to cover their loan [more...]
Date: 2008-09-24 14:58:47
Did Racism Help Cause the Mortgage Crisis? The Rise of Sandy Weill and Citigroup
Photo: United for a Fair Economy The State of the Dream Sandy Weill’s story tells how racially-biased predatory lending lies at the center of the ... in his chips and set about looking for his own business. In 1986 he settled on a Baltimore loan company named Commercial Credit that specialized in predatory lending. The tale of how Weill would use [more...]
Date: 2008-12-11 16:53:16
Hillary: Let’s Keep People in Their Homes
This comes to us from Hillary Clinton’s editorial, Let’s Keep People in Their Homes, that was in today’s Wall Street Journal: ... the economy and ignited the credit crisis. Two million homeowners carry mortgages worth more than ... proposed a new Home Owners’ Loan Corporation (HOLC), to launch a national effort to help homeowners [more...]
Date: 2008-09-25 17:45:10
Subprime Defaults Are Just The Beginning
If you thought we were almost done with the collapse of the mortgage market, you are sadly mistaken. Last night 60 minutes did a piece about the looming wave of mortgage defaults, Alt-A and option ARMs. While, as Scott Wilson outlines below in his guest post on Your Mortgage or Your Life, 60 minutes did not do a fabulous job on this story, [more...]
Date: 2008-12-15 23:37:29
McCain: I'll buy your mortgage
Interesting curveball from Sen. John McCain in the presidential debate: an economic proposal he's either just come up with, ... up the bad home loan mortgages in America and renegotiate ... at the diminished value of those homes, and let people be able to make those ... payments and stay in their homes." McCain's $300-billion [more...]
Date: 2008-10-08 14:29:56
"Hedge Funds Say 'Gimme Some Of That Bailout Cake!'"
AFP/File – The White House seen on October 22, 2008 in Washington, DC ... and predictions the economy is about to tumble into a deep recession.These groups argue that the credit ... billion in bank stock grow to cover insurers, auto companies, securities dealers and U.S. subsidiaries [more...]
Date: 2008-10-26 17:37:00
Avoiding Foreclosure on your House
Foreclosures are a scary thing. Without a house, it’s hard to imagine how you’re going to provide for your family ... about anyone ripping you off or giving you bad advice. What’s going to happen after all of this? The first thing that will happen is that they will work with the mortgage company to refinance your loan [more...]
Date: 2008-12-01 17:28:15
Atlanta Real Estate Recovery
Post 2 of 3 in the Atlanta Real Estate Recovery series (energy, housing, credit). Roger Tutterow Ph.D ... inventory of homes which causes a longer time on market. However, this news is not all bad either ... college grads were some of the same one’s who had school loans, credit cards, new cars, and a huge [more...]
Date: 2008-12-10 12:30:41
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
As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia
“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]
Date: 2008-12-25 16:01:00
As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia
“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]
Date: 2008-12-25 16:00:00
As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia
“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]
Date: 2008-12-23 19:21:00
Mortgage Demand Up: Now What
According to the Mortgage Bankers Association, mortgage applications hit a five year high last week.U.S ... only those with a perfect credit profile can now get financing, it isn't clear what lowering ... and the Federal Home Loan Banks.Now, I have long said that the best way out of this recession [more...]
Date: 2008-12-25 21:11:00
Refinance home mortgage
Home mortgage is very common these days. The moment I am writing, Obama has taken a lead over McCain in the president election ... your loan amount. Hence you will loose any possible chance to get the refinance. You should really have good credit score. No lender or bank will give you loan if they find out that you don’ [more...]
Date: 2008-11-05 10:58:55
3rd Wave of Foreclosure Hits The Jobless
People With Traditional Mortgages Who Have Lost Their Jobs Are Now Facing Foreclosure (CBS) ... up. With a government job, good credit, and a 30 year fixed rate loan on her southern California house, Judy ... swept up are not greedy investors, or people who got in over their heads with bad loans, reports CBS [more...]
Date: 2008-11-29 06:00:20
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
Why You Should Not Walk Away From Upside-Down Real Estate
I keep reading stuff on the internet advising people who are upside down to just walk away if they are a upside down on their mortgage ... the thinking: You owe more than the property is worth, and the loan is non-recourse. So the thinking goes ... , your credit is going to take a hit that is going to last up to ten years. Not seven, not two [more...]
Date: 2008-10-21 14:01:42
MORTGAGE LOANS SERVICE
If you have just bought a new home you must face the new deal of mortgage that you cannot choose easily because you have to think about your ... and find the right solution for your mortgage problem. Learn more about the bad credit mortgage refinance ... financial condition in the current time and in the future otherwise it will give you bad long term [more...]
Date: 2008-11-27 09:36:22
Debt Rattle, November 22 2008: Ordinary People
Timothy H. O'Sullivan Hero July 1863 John L. Burns, the 'old hero of Gettysburg,' with gun and crutches. Born ca ... , their effective net worth is negative, they have more debts than assets. This is the result of easy credit, used for anything from home and car purchases to all the gadgets and trinkets charged to their credit [more...]
Date: 2008-11-22 20:20:22
Foreclosures Are The Name Of The Game In California
The Press Enterprise reports from California. “Three years ago when Jeffrey Homes set out to build Villa de Madrid, a 98-unit condominium project in Hemet, Inland home prices were breaking records monthly. Condominiums were welcomed by local builders as the only way left to provide affordable homes to first-time buyers [more...]
Date: 2008-07-14 23:07:20
How To Refinance Commercial Mortgages
Commercial mortgages are often taken by people when they need money in order to invest in some commercial venture ... for refinancing. Although commercial lenders do not prefer providing refinancing to people who have bad credit ... commercial mortgages, which may have piled over time. By obtaining refinancing people will be able [more...]
Date: 2008-12-15 19:04:37
ARM TWISTING NOT UNDERWRITING
I'm not surprised politicians are exasperated with the banks' apparent reluctance to lend money to consumers and businesses at “reasonable” rates ... for irresponsible lending in "bad times". As the UK economy expanded through the 90s and 00s, financing ... the green light to the banks to dish out money to bad credit risks; if all turns out OK, the bank [more...]
Date: 2009-01-14 22:23:00
Reduce Your Debt Significantly!
A careful study of your finances reveal to you a numbing reality that you are in debt, and deeply so! You just can’t pay all your bills ... is the process of acquiring a new loan to pay off your previous loans and credit cards, consequently ... on hand, 2) pay your essential debts first, 3) refinance to reduce debt cost, 4) notify creditors [more...]
Date: 2008-11-29 18:07:42
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
Another Article on the Old Church
This one from the OC Register: The plans for Seabreeze Church’s first permanent home in two decades seemed to be running smoothly ... service. That’s a big drop. The article continues: What wasn’t on the schedule was a credit crunch ... problems facing a credit crisis and decreased giving. The church had always planned to refinance [more...]
Date: 2008-12-30 03:41:02
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
Causes: Subprime Lending
Other posts in this occasional series. Six months ago, this post would have been unnecessary. Back then, for most people, the crisis was the “subprime crisis:” subprime lending had become too aggressive, many subprime mortgages were going to go into default, and as a result securities backed by subprime mortgages were falling in value [more...]
Date: 2008-12-14 03:45:47
Tips About Mortgage Refinancing
A mortgage loan refinancing could work in your favor if you’re looking for upfront cash for a large purchase or a major unexpected expenditure ... for bad credit re- mortgage loan . Research and compare loan mortgage loan refinancing rates before ... dollar of your pay check every month or you could optimize monthly payments towards your auto loan [more...]
Date: 2008-11-27 08:33:29
Help On Mortgage Refinance Online
A mortgage refinancing could work in your favor if you’re looking for upfront cash for a large purchase or a major unexpected expenditure ... of your pay check every month or you could optimize monthly payments towards your auto loan, credit card ... who goes for mortgage refinancing every single year especially for bad credit re- mortgage loan [more...]
Date: 2008-11-19 07:44:31
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
The Many Lessons of the Mortgage Crisis
As we begin to try and pick up the pieces and attempt to find a way out of the economic crisis caused by the mortgage meltdown, we should also look at what lessons we can draw from the events that caused the crisis itself.1) Government intervention is dangerous and should always be implemented with care.The left is screaming about deregulation ( [more...]
Date: 2008-12-26 16:35:00
Can the TALF Return Demand to the Markets?
Can the TALF Return Demand to the Markets? Posted by: admin in mortgage industry We can now enter a new acronym into our lexicon: TALF ... include student loans and car loans, which under normal conditions are packaged and sold to investors ... are causing banks, take a look at the chart below. FDIC bad consumer loan charge offs [more...]
Date: 2008-12-02 15:00:36
101 -
150
of
440
Posts
Page:
First
| <
Preceding
|
Next
>
0
|
1
|
2
