RECENT BLOG POSTS
I read this on mortgage news today, and this numbers are kind of scary, so many properties will definitely have an impact in the housing industry and the overall economy of our nation.Here is the article7.2 Million Loans Behind on Payments, One Million REOsMore than 7.2 million mortgage loans are...
For the first time in five weeks, mortgage rates have increased, which threatens the housing market recovery. According to Freddie Mac, 30-year fixed mortgage rate increased to 5.01 percent, from 4.98 percent in the previous week. A 15-year mortgage rate averaged 4.40 percent. "The spring will pr...
FNMA ANNOUNCED THAT OCUPANT/OWNER BUYERS WILL RECEIVE 3.5% TOWARDS CLOSING COSTS IF THEY PURCHASE A REO FNMA BEFORE MAY 1, 2010
This might be the best time in years to buy a home in Michigan. Prices are affordable. Sellers are willing to compromise. And inventory levels are high. If you've been debating whether it's time to invest in a Michigan home, now might be the perfect time to act. Congress recently passed an exten...
Buying a home has not been this affordable in 20 years due to the housing crisis. An average family in America with an annual income of $64,000 can afford 72.3 percent of all homes sold in the U.S. In the first three months of 2009 72.5 percent of homes sold we affordable and in 2008 55 percent o...
Many homeowners under President Obama's foreclosure-prevention program may be at risk of foreclosure. According to a Treasury Department guideline issued last month, mortgage companies have until January 31 to review all trial modifications that have been modified due to the Home Affordable Progr...
For the first time in a month, mortgage applications dropped 11 percent. The Mortgage Bankers Association's index of loan applications dropped 11 percent to 513 last week. In November, since the first time home buyer tax credit was set to expire, home sales have dropped at the end of the year. Th...
Learn about the main cause of the sub prime debacle, the repeal of the Glass Stegal Act. Watch the upcoming politics as the congress attempts to re-enact the principles of Glass Stegal. Millions of dollars will change hands as the banking lobbists try and prevent the change back. They want to co...
RATES ~ Interest rates, too, moved little, though it is important to note that the week included the usual pendulum swing among investors from confidence in the recovery to worry. The 10-year Treasury note yield stood at 3.818% as the week began, but concerns inspired by the prior week's disappoi...
Absent from Washington and President Obama is a mention of a Federal Initiative to convert the federal vehicle fleet to natural gas. This would mandate that to start with all federal vehicles, ie. postal, ect. be converted to run on natural gas. Later the states could follow, and than the local m...