You know those banks that got bailed out last year? Of course you do. You remember, they took all your tax money and it seemed to disappear. Yeah, I...
I’m having a great weekend! I’ve been working INSANE hours for the last few weeks jetting around the country (remind me to tell you about losing my keys an...
You know, hearing stories about corruption come out of Washington used to get me really mad. I’d hear about all these people trying get rich using the most underhanded...
I woke up this morning and just about jumped out of bed. Okay, I actually did jump out of bed. And do you know why? Because this is the first...
Don’t expect housing prices to decline again any time soon, according to Barclays. They claim that the stabilization that has begun to creep in is here to stay. However, we...
Obama must have had too much to drink at last week’s power lunch about health care. Apparently, he’s still drunk! Just listen to the latest scheme he’s come up...
“History will be kind to me, for I intend to write it.” Winston Churchill I recently told you about Citibank’s new plan to allow delinquent borrowers to remain in their homes for...
Yes, short sales are definitely on the rise. This shouldn’t come as news to you, but the media and US gov’t are just catching on. Short sales accounted for...
Obama broke the bank this week, pledging $1.5b in aid to distressed homeowners. This money will go to help those unemployed and anywhere that housing prices have fallen 20%...
According to the latest report released by Freddie Mac (are they still in business??) over 95% of 4th quarter refinances last year were fixed-rate loans. This was true regardless...
I appreciate you taking a few minutes to read this. You probably were living under a rock if you haven’t yet heard about the new launch of Preston Ely’s FreedomSoft real estate software. This software takes all the frustrating parts of real estate investing and totally automates it. You can log into ONE place to do...
According to the S&P, home prices have had six straight months of gains. Well, at least for 14 out of 20 principle metro areas. Sorry if you don’t live in an “up” city. But I just report the facts, I don’t make them. However, home prices are just part of the picture, says the chairman of...
Goodbye and good riddance says Rep. Barney Frank to Fannie Mae and Freddie Mac. In his opinion, both mortgage agencies need to be closed for good. Once that’s accomplished, the housing finance system can be rebuilt right. This is a pretty shocking turn of events in the unfolding housing program restructuring. Rather than fix issues...
No snowflake in an avalanche ever feels responsible. -Voltaire Wise words from a wise man. I think Voltaire touched on a very important point. In an avalanche, who’s to blame? Each snowflake can say about himself, “Look at me. I’m too small to do any damage. It’s not my fault.” And who’s really going to argue with...
The FHA has gone crazy, making sweeping new changes in several policies. You’ve got to keep these in mind when clients consider FHA loans. Here are some of the most extreme changes: **** Raised up-front costs for insurance **** TRIPLE downpayment requirements **** Cut seller concessions by HALF! The government hopes the new policies will help the organization better...
I brought you some news last week on Obama’s controversial new tax. He imposed it on the major wall street giants who are largely held responsible for the economic crisis. This move (3 years earlier than something like this needed to be imposed, legally) is meant to repay the government and taxpayers for all...
How many people do you think have been helped by Obama’s loan assistance programs? 50%? 30%? Try 4%! That’s the latest news from CNN. The govt. is still desperately trying to push new and better programs on the population of this country. Yet according to RealtyTrac, nearly 2 million homes are already in foreclosure. Citigroup...
Okay, folks, don’t worry, you’re off the hook. The bailout money Obama spent won’t be coming out of your paycheck. I mean, I could’ve shelled out the $117 billion. Maybe you could too. But no, that’ll be left up to the biggest Wall Street banks. Yeah, the government has decided to levy a “financial crisis responsibility...
Check out the image and find your state. (If you don’t know what your state looks like, ask a friend or go back to 7th grade geography.) Notice the interesting shades of green. (If you’re color blind, again, ask a friend or guess randomly.) Now this is a map of the severity of the foreclosure...
The FDIC took on a lot of water this year, rescuing banks that were drowning under tons of bad loans. In doing so, they absorbed several billion dollars in defaults, distressed loans, and other toxic assets. And now it’s come time to figure out what to do with them. And the best option they’ve...
