Posted in Foreclosure, Mortgages, Real Estate on Apr 1st, 2010
In Phoenix we have a Fix and Flip subgroup that meets the last Wednesday of every month. This is part of the AZREIA organization that I belong to, which is an amazing investor group that you have to be a part of. Send me a comment through the blog and I will give you more [...]
Posted in Mortgages on Dec 5th, 2009
This one hits closer to home, I think we have at least another year of bank failures before things get back in the plus. There is a large confidence factor that is going to take a long time to come back. People just don’t trust banks and especially equities.. —————————– AmTrust Bank customers have been [...]
Posted in Mortgages on Nov 27th, 2009
So mortgage lending is going down, and the solution? Lets make it more difficult for borrowers to qualify, that will spike the economy. —————————————– WASHINGTON, Nov. 26 (UPI) — Fannie Mae, the giant mortgage finance company that helps shape lending guidelines, plans more crackdowns next month to further tighten lending practices. U.S. officials say the [...]
Posted in Mortgages on Oct 5th, 2009
A little factoid on who they are and what they do. If you are applying for a mortgage or investment property, you will hear that banks use the Fannie Mae or Freddy Mac guidelines for loan underwriting. That means if the bank wants to sell the loan off to the government, it has to incorporate [...]
Posted in Mortgages, Real Estate on Sep 23rd, 2009
Sounds like good news on the main front, lets hope homes keep selling and they extend the tax credit! ——————————————————————————- WASHINGTON — Signaling confidence in a recovery, the Federal Reserve decided Wednesday to stretch out the pace of a program intended to lower mortgage rates and prop up the housing market. Even so, rates on [...]
Posted in Mortgages on Sep 9th, 2009
These kind of articles scare me. China owns so much of our debt, and now they are lending us even more money directly.. Scary times! ——————————- How long does it take for a borrower to secure a first mortgage on 21 stories of the New York Times Building? After countless rejections by lenders, about six [...]
Posted in Mortgages on Jul 17th, 2009
July 17 (Bloomberg) — Victor Stern thought his money troubles were over when he got approval to modify his home loan. Then his credit score dropped 121 points. Stern, a business development director at an information technology company in Charlotte, North Carolina, said he was shocked to see his credit score drop to 619 from [...]
Posted in Mortgages on May 23rd, 2009
This is what happens when greed takes over: A former Scottsdale accountant was rearrested Friday in connection with what authorities described as a $67 million real-estate Ponzi scheme. Dan Wise, 52, was arrested by Scottsdale police after a Maricopa County grand jury indicted him Thursday on multiple theft and fraud charges. Wise was being held [...]
Posted in Foreclosure, Mortgages on Apr 16th, 2009
On March 4, 2009, guidelines were released under President Barack Obama’s Making Home Affordable initiative, which is designed to help up to 9 million homeowners stay in their homes through refinanced mortgages or loan modifications. To qualify, you must: Owe between 80-105% of your mortgage. An analysis of Zillow Q4 Real Estate Market Reports shows [...]
Posted in Mortgages on Apr 12th, 2009
Q How can I find out whether I will qualify for help with my mortgage under the Obama administration’s plan? A The administration’s housing plan provides two types of assistance that are designed to help make mortgages more affordable for up to 9 million homeowners: refinancing and loan modification. Special refinancing program. Many homeowners with [...]