By Cathy Salustri Three years ago it seemed anyone could get 100% financing on a half-million dollar home and lenders had a mortgage product for every situation. Today the lending pendulum has swung the other way and lenders are getting back to basics with more conventional mortgages. Lenders say they’re protecting their interests and keeping… Continue reading New World of Mortgage Lending
Reality Behind Fannie and Freddie Bailout
By Mike Colpitts Editor The reality behind the Fannie Mae and Freddie Mac bailout will amount not only to the largest single economic cost in U.S. history on the home front, but it will mark a monumental struggle for Congress to clean up the worst political financial mess in history at a cost to tax… Continue reading Reality Behind Fannie and Freddie Bailout
Rent to Own Options on the Rise
Finding homes that can be rented with an option to buy are under going a re-birth as the nation’s real estate markets realize an extended slump in the majority of housing markets. The Rent-to-Own purchase is making a big come back. Gone are the days of booming real estate markets experiencing double digit inflation. Gone… Continue reading Rent to Own Options on the Rise
Economic Depression Not Forecast for U.S.
The U.S. economy will not suffer from an overall economic depression as a result of the real estate depression, according to a new forecast by Housing Predictor. The majority of the nation’s housing markets are under going deflation as a result of the credit crisis, but analysts now expect the housing depression to begin showing… Continue reading Economic Depression Not Forecast for U.S.
Foreclosure Auctions Failing to Attract Buyers
Lackluster turnouts at courthouse foreclosure auctions are becoming common place from the court house steps of Los Angles scattered across the country to New York City, according to attorneys who attend the auctions to bid on properties for mortgage lenders. The poor turnouts represent a major shift in the way foreclosures are being bought and… Continue reading Foreclosure Auctions Failing to Attract Buyers
The Sky Isn’t Falling
By Cathy Salustri It seems as though every other headline in the newspaper talks about people losing their homes and every time you turn on the TV newscasters are talking about foreclosures. Yesterday’s mortgage brokers work at Starbucks and Home Depot today. Some real estate agents are waiting tables or looking for other work. The… Continue reading The Sky Isn’t Falling
How to Get a FHA Loan
Pre-Approval Benefits You’ve heard about FHA loans and you are interested, but how do you get them? Once you know that this is the type of loan for you, you’ll need to go through the pre-approval process. This process is similar to that of a conventional loan (a non FHA insured loan.) The process is… Continue reading How to Get a FHA Loan
Giant Failures Await
Inside the offices of Countrywide Mortgage the signs illuminated their offices reading, “Fast and Easy Loans.” The notices beckoned any mortgage applicant to ask just what these loans were all about. The so-called Fast and Easy Loans offered by Countrywide and dozens of other mortgage lenders and banks throughout the country, which often gained chuckles… Continue reading Giant Failures Await
Mortgage Fraud Still Booms
Mortgage fraud, regarded as one of three main triggers of the housing crisis is still emerging with recklessness. “The fraud has by no means gone away,” said Merle Sharick of the Mortgage Asset Research Institute (MARI). Mortgage fraud perpetrated by industry insiders accounts for 80 percent of all reported mortgage fraud losses, according to the… Continue reading Mortgage Fraud Still Booms
Walk Away Homeowners Increase Foreclosures
The social stigma associated with defaulting on a mortgage seems to be disappearing as the nation’s housing crisis escalates. More homeowners are choosing to freely walk-away from their homes as the values plummet. New York University Economist Nouriel Roubini was one of the first to warn of the dangers from a major real estate boom,… Continue reading Walk Away Homeowners Increase Foreclosures