Dow Chemical’s Tale of Woe
Sometimes, it feels like the whole world is working against you. If Dow Chemical CEO Andrew Liveris is thinking that, maybe he’s right. Suddenly his pending $15 billion acquisition of rival Rohm & Haas looks like an uphill battle, with myriad competing interests who can’t all be kept happy [more...]
Date: 2009-01-02 12:53:00
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Pay Me My Money Down
Pay Me My Money Down—Bruce Springsteen In a healthy real estate market, people only take on as much debt as they can afford, and they work to pay it off as quickly as possible. Debt is something to be retired not endlessly ... ways: Speculation. Inflation. Debt Retirement. Types of Equity A truth that everyone [more...]
Date: 2009-01-08 20:30:56
Pocket Profile: Frugal Babe
This week we spoke with Frugal Babe, who started a blog to chronicle her family’s path out of debt after starting a health insurance agency with her ... more in rent. Student Loan Debt: None! Top percentile. Credit Card Debt: None! Top percentile ... calculators to figure out how long it will take us to pay it off. The Bigger Picture: Tell [more...]
Date: 2009-01-08 16:49:31
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 ... , his business decreased and his mortgage reset, doubling from $1,800 to nearly $3,600. He’s sure ... what officials say is a ‘bold economic recovery plan’ to address area foreclosures and the mortgage [more...]
Date: 2008-12-03 18:28:57
BRIEF OVERVIEW OF LEASE ACCOUNTING
Accounting for lessees, as stated earlier, breaks down into two categories. Either the leases are operating leases or they are capital leases ... termed a loan amortization schedule, can be found in panel Aof Exhibit 4.2. In the business world, a cash ... for an operating lease, while a capital lease would report a leased asset (less its amortization [more...]
Date: 2009-01-03 07:52:50
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
Existing Debt: The Biggest Hurdle in Mortgage Loan Qualification
I got a question about what the number one obstacle is to most people qualifying for the loan on the property they want. The answer is "existing debt ... amortization, but even most folks who fall for it, know on some level that it's not real. They may not realize ... actually qualify for a significantly larger loan if they had no other debt. (When I [more...]
Date: 2008-12-11 14:48:13
Rethinking The Early Mortgage Payoff
By Julie Rains The borrow-at-a-low-interest-rate-and-invest-to-get-greater-returns mentality was so embedded in our ... mortgage payoff question is: if you weren't using your money to pay off the mortgage, what would you be using the money for? Here are some alternative uses of extra cash: Pay off non-mortgage debt [more...]
Date: 2009-01-09 15:41:42
Pay a Prepayment Penalty Now, or Wait to Refinance?
Hi Dan wondering if you could help me out I'm getting a lot of different answers from a lot of people and I'm really searching for help I bought my house brand new (three years ago) for 550,000, and (the next year) I refinanced into a mta loan ... expires in (fifteen months) house just appraised for $775,00 balance on 1st loan 440,000 balance on 2nd [more...]
Date: 2008-12-25 16:11:28
Craming down yet another housing price post...
When I came back from Christmas vacation, I had a stack of mail waiting for me. Mixed in with the Pennysaver and checks from mail-in rebates was a letter from the state of Maryland. It was a reassessment notice - evidently the state of Maryland reassesses the market value of property that it uses for tax purposes every 3 years [more...]
Date: 2009-01-10 04:25:50
Buying Investment Property - An Example of the Issues
My aunt is going to move to a new condo and wants to sell her old one. I would like to buy her old condo as an investment and rent it out ( ... to keep her tax base. I am thinking about getting an interest only loan to help me get into this. Can I get a loan for 100% of value? My aunt will need the entire amount to purchase her new place [more...]
Date: 2008-12-19 14:47:30
The Best Way To Create Problems For Yourself In Real Estate
Have a "looking for cheap" attitude, especially on services meant to protect you. It's great to have a "looking for value" attitude ... of a condominium and the associated loan. Somebody else might have rebated close to half of the buyer's ... to pay office rent and electricity and all the costs of staying in business for the brokerage. Once [more...]
Date: 2009-01-14 14:40:06
Temporary Rate Buydowns
Every so often I run across a reference to a "rate buydown" I don't like to use them because they don't benefit the client, but I should explain them, ... to give you a temporarily lowered interest rate on what is usually a fixed rate loan. 2/1/0 buydowns ... , and then at the loan rate the third year, are the most common, but I've seen one year buydowns [more...]
Date: 2008-12-12 14:44:35
Loan Modifications Reamortize, Don’t Affect Fixed Rates
I just got off the phone with Patty at BB&T Mortgage, who walked through all the options I had with them with regards to my mortgage. She was extremely courteous and explained everything in great detail, great loan officer. The one big bit of advice I learned was that a loan modification isn’t what I thought it was. Loan [more...]
Date: 2008-12-22 17:08:36
What 2 Things Are The Main Reasons Why Credit Card Consolidation Should Be Considered?
Amazon.de Widgets Credit card consolidation is an excellent way to improve credit card debt both by simplifying the management of your debt and the more importantly the amount you will eventually repay.Credit card consolidation will undoubtebly help if you have many credit cards and are starting to lose control of both your repayment schedules and the amount you need to pay to each card provider. [more...]
Date: 2009-09-29 11:41:23
How to tackle foreclosures and unemployment at the same time
Back in mid-December, after I wrote a post about some numbers from the Office of the Comptroller of the Currency (OCC) that seemed to show loan modifications don't work so well, a reader of this blog suggested that the data release might be politically motivated—that the Bush administration, [more...]
Date: 2009-01-06 17:06:23
SoCal office owner skips payment on $1.5 billion loan
Cabi in Fountain Valley A real estate investment trust run by KBS Realty of Newport Beach — owed $175 million by a ... in principal due on the overall $1.5 billion loan package. The borrower, part of Cabi Properties, used ... -Arden loan package. The KBS loans mature next August. KBS revealed the late payment in an SEC filing [more...]
Date: 2008-11-04 16:58:44
Find Out The Story About ARMs
Sep 22nd, 2009by Michael Williams. by Jules C. HookerYou have a lot of choices to make in buying a house and deciding upon a home loan, and in today’s confusing loan world, you now also have to choose the index that you want for your Adjustable Rate Mortgage (ARM).When we talk about the index for the ARM, we are talking about the instrument that the adjustments to the loan rate will be tied to. [more...]
Date: 2009-09-22 09:52:53
Loan Plan Gets Things in Order
Recently, a plethora of apps that help people manage their personal finances have found their way to the App Store ... Loans. Credit Capacity allows you to tap in your monthly income plus your debt. It asks what you want your maximum debt to income ratio to be. Then it gives you your credit capacity, current debt [more...]
Date: 2009-01-15 01:00:36
Unsecured Unemployed Loans - to Lessen the Pangs of Unemployment
Financial irregularities are not new to the unemployed person. With the blockage of the only or major source of income, making ends meet is surely going to be a big problem. In that regard, unsecured unemployed loans are going to be very helpful. An unsecured unemployed loan is designed particularly for the unemployed people [more...]
Date: 2009-01-16 02:39:21
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) ... !) concern amongst the regulators for this risky loan which begs for trouble for consumer, lender ... ;/sarcasm>). Read the contract. The attraction of negative amortization loans has nothing [more...]
Date: 2008-12-24 14:52:05
Nice knowin’ ya, 2008. Now beat it.
Ah, 2008. What a kick in the pants this past year has been. It was a year of presidential campaigns, a housing crisis, an economic crisis, a stock market crash and a partridge in pear tree for which the Notice of Default has been reportedly filed. In this, our third installment of The Year in Review, [more...]
Date: 2009-01-01 02:58:04
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 ... of loan amount to value). However, these are not created equal: FICO is used to ascertain ... is the probability you lose anything at all times the severity (percentage of loan value) of that loss [more...]
Date: 2009-01-10 02:24:52
Benefits of the Money Merge Account
The Money Merge Account is a proprietary software system designed to help homeowners pay off their mortgage in nearly a third of the time of the amortization period (the life of the loan). Contrary to popular belief regarding accelerated mortgage programs, such a system can provide homeowners a myriad of benefits. Paying Mortgage Off Early [more...]
Date: 2009-01-15 00:18:14
Suze Orman's Financial Advice For Wise Bread Readers
By Will Chen Suze Orman is one of my favorite personal finance advisors. No one can kick my butt into gear like Suze. That's why I was thrilled when Suze invited Wise Bread to participate in a bloggers-only interview event, where she answered questions about how to survive in this tough economy [more...]
Date: 2008-12-16 22:32:13
Loan Plan
Loan Plan Simple yet useful, Loan Plan helps you day by day to manage your budget efficiently on your iPhone or iPod touch. It allows you to evaluate whether or not a loan is a good deal. Features : - monthly credit capacity including current loans - schedule of payments and balance monthly and yearly - amortization [more...]
Date: 2009-01-04 03:35:13
The Pin That Pops the Housing Bubble?
(I published this originally June 18, 2006. Anyone want to tell me I didn't hit this nail on the head?) ... is the "Stated Income"loan, where the lender does not verify that the prospective borrower actually makes enough money to qualify for the loan, only that they have a source of income that could generate enough [more...]
Date: 2008-12-15 14:42:20
Should I Refinance? PowerShell the Financial Advisor
When it comes to personal finance, research and reading sometimes can’t answer all of your questions ... rates sinking, now’s a good time to evaluate a mortgage refinance. The online calculators help ... . At 5%, you’re paying $585 per month. However, All of the re-finance quotes and calculators put [more...]
Date: 2009-01-10 07:17:11
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 ... now, that's 50% equity even if you didn't have a down payment. So people who bought for $180,000 were refinancing ... $225,000, that's one loan at 6.25%, with a payment of $1089.82. This cuts $86.49 off the monthly [more...]
Date: 2009-01-08 09:54:12
5 tips to get out of foreclosure
by Doc Schmyz Your house is the last thing that you want to loose. However sometimes home foreclosure will happen ... you can get a short refinance for the foreclosure of your property. If you don’t want a new loan to cover ... Sometimes a temporary change in the terms of the loan can be given when properly negotiated [more...]
Date: 2008-12-30 18:49:13
Carnival of Debt Reduction: Tips via Twitter Edition
Welcome to the Carnival of Debt Reduction, a traveling weekly roundup of the best articles in the blogosphere covering credit cards, consumer debt, mortgages, and the elimination thereof. Here is more information about the Carnival of Debt ... to be featured in today’s Carnival of Debt Reduction. What follows is the best of those submissions [more...]
Date: 2009-01-12 13:00:59
The rise and fall of EMI
p2pnet news view Music:- “Want to get rich quick?” - inquired p2pnet slightly more than a year ago. That was because Guy Hands’ (right) ... in its US government bailout, its largest leveraged loan has become ‘a pimple on the back of an elephant [more...]
Date: 2008-12-06 16:20:06
1003Power.com, The Incomparable Mortgage Web-Based System Implements New Interactive Features To Its Recently Released Version 2.0
Company aims to help in the plight of both professionals and homeowners in crisis with upgraded user-friendly tools designed to keep brokers in ... -based loan origination system, 1003POWER, (www.1003power.com), does it again with the release ... version, the recent additions to this eco-friendly loan origination and processing tool will save [more...]
Date: 2009-01-14 12:19:15
Mortgage Loan Advertisements: Horrible and Getting Worse
(When I wrote originally wrote this, rates were higher than they are now. When I'm writing this update, I have rates as low as 4.5%) Recently, a couple of mortgage places have been advertising "30 year fixed rate loan at 5.65%" like that's the lowest rate out there and it's some kind of great loan. It's not. I have 5.375 [more...]
Date: 2008-12-06 19:04:45
Refinancing Your Property with Less Income Then You Had When You Bought
Hello, When my husband and I bought our home 2.5 years ago (two bedroom condo) we qualified for the loan ($250,000) based on both our incomes. Then I had a baby and stopped working. We've never missed a payment or even been late, and we're getting by just fine by being frugal [more...]
Date: 2009-01-12 14:37:32
Mortgage Can Be A Long Engagement
Mortgage is a legal tool that pledges a real estate property as repayment in order to obtain a loan ... , he can do so through mortgage. Mortgage provides the guarantee that the loan will be paid back on time. How so? Should the borrower fail to pay for the loan, the lender may recover the amount of loan [more...]
Date: 2009-01-11 03:37:40
California Mortgage Loan Disclosure Statement
California has replaced the one page federal Good Faith Estimate with a two page Mortgage Loan Disclosure Statement ... all of the games loan providers play with the federal Good Faith Estimate intact, as well as adding a couple ... . The first major difference is that there is no explicit loan or rate quoted at the top, and the broker [more...]
Date: 2008-11-05 14:43:51
Mortgage Rates Lower But Fees Don’t
But wait, there’s help With respect to mortgage rates, you can’t always believe what you read in the papers. Or what you see ... just the interest rate — there are the fees that go with them, too. Mortgage rates and loan fees ... Reading… Pop Quiz, Austin- What is Amortization? Austin Homebuyers Glad Dow is Under 10K [more...]
Date: 2009-01-08 21:12:31
Buying a New Home? Financing Factors to Consider
In industry parlance, a deal is deemed “sealed” or “closed” or “done” when the final payment for the property has been made ... , the lender would pass on this increase to the end-consumer (the borrower), and you’d be caught gasping [more...]
Date: 2009-01-15 13:35:38
When The Buyer And Seller Can't Agree On A Price For Real Estate
"overpriced house offer rejected what next" (Before I get started, I want to make it clear that I am using the same definition of worth found in this article. The property is worth what the seller can actually get a buyer to pay.) Well, the seller obviously didn't feel that it was overpriced [more...]
Date: 2008-11-08 17:43:25
How to Avail GSIS Emergency Loan?
Members of GSIS who have been affected by calamities, GSIS is offering emergency loan worth P20,000, with a minimal interest rate of 8 percent per year. The emergency loan is payable up to three years. An 8 % interest, gives you a monthly amortization of P688.89. To qualify for the emergency loan, the GSIS member-applicant must [more...]
Date: 2009-09-29 17:10:21
Are Long Term Mortgages For You?
Are Long Term Mortgages For You? Posted by Dark Spider at January 14, 2009 The various ways of getting a house these days has definitely become easier, along with the way that it can be paid back. Traditionally, a mortgage on a house meant a maximum of 25 or 30 years before amortization [more...]
Date: 2009-01-14 12:09:19
Refinancing Mortgage Loan Options - How to Refinance and Keep Your Terms
Refinancing can save you money, but the downside is that you have to restart amortization. Once again you are paying mostly interest at the beginning of your loan. But there are ways ... for even lower rates. You can also pay off your loan sooner, further increasing your interest savings [more...]
Date: 2009-01-16 01:09:49
Pay Option ARMs - The Implosion Is Still Coming Despite Low Rates
Mr Mortgage is a 20-year mortgage banking veteran, specializing in wholesale and correspondent sales and sales/operations management and bringing ... . The broad failure of this loan type will have severe consequences on already depressed CA real [more...]
Date: 2008-12-24 14:00:38
Lower Mortgage Payments Can Increase Wealth
Creating and maintaining wealth is a very difficult task. Ask any millionaire!!! ... will save lots of money the next few years. Here is his scenario: Client #1 $500,000 Loan Amount Current 30 Year Fixed @ 6.00%=P&I $2,997.75/ month 5th year loan balance $456,989.77 Equity [more...]
Date: 2009-01-09 00:56:47
A Hint Of The Nightmare To Come
It’s Friday desk clearing time for this blogger. “For four years the Neal family called a two-family house in New Haven, home. The Neals have had their house on the market for a year and a half. They’re frustrated but patient. They understand this is a tough time to sell [more...]
Date: 2008-10-31 21:25:41
Covered Bonds
What went wrong with securitization? Can covered bonds fix the problem? This is from the Cleveland Fed: Covered Bonds: A New Way to Fund Residential Mortgages, by O. Emre Ergungor, FRB Cleveland Economic Trends: Like the now government-owned Fannie Mae and Freddie Mac, [more...]
Date: 2008-11-02 07:15:00
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 ... of agency debt and mortgage-backed securities to provide support to the mortgage and housing [more...]
Date: 2008-12-17 10:28:49
New mortgage fee for condo purchases
A number of mortgage blogs have been reporting about a new Fannie Mae fee for condo purchases ... , on a $350,000 condo loan, buyers with less than 25% down payment will have to come up with an additional ... -in rates now. The fee does not apply to loans with amortization terms of less than 15 years or to FHA [more...]
Date: 2009-01-13 23:29:23
Interest Rate Resets on an Adjustable Rate Mortgages Are a Problem
Many people took out adjustable rate mortgages during the housing bubble ... amortization can occur (the loan balance gets bigger.) Since the low payment option on Negative Amortization loans is so appealing to consumers, the actual interest rate charged on Option ARMs is often [more...]
Date: 2009-01-09 11:20:05
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