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 don’t know if you caught the (non-real estate) news this weekend, but a rogue wave at a Calif. surfing competition got some spectators into the action. Apparently a...
Citi’s mortgage branch is facing a massive amount of foreclosures. They’re so desperate they’ve launched a new initiative. The will allow defaulters to remain in their homes for 6 months....
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 things you can imagine. But then I realized something. By the time it gets to the news, or comes out in court, the story is...
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 week with NO OLYMPICS! I mean, come on, I’m all for international competition, but it’s all anyone’s been talking about for so long. Finally, we’ve got...
“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 up to 6 months. Well, the MBA (Mortgage Bankers Association) has a new forbearance plan in the works that would up that limit to 9...
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 15.9% of home purchases in January! REO’s still made up a larger portion of home sales, so we’re still not reaching everyone in time. But...
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% or more. This is in addition to the $2 billion I’ve already given to help real estate investors get their ideas off the ground. Alright,...
As of the end of January the number of trial home loan modifications has doubled. Permanent mods are now at 116,297. Another 76,000 are on the table for permanent restructuring. This is the first time that permanent mods have outpaced trial ones. The program aims to modify at least 3 million loans by 2013....
A survey was recently conducted by a Minneapolis based company regarding financial literacy. Basically the survey was trying to determine what questions people most frequently have for lenders. It seems from the results that what most people have on their minds is the “recovery.” Lenders were most frequently asked by borrowers how they can raise...
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...
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...
