Nearly 9 out of 10 home mortgages are now being sold to Fannie Mae and Freddie Mac, the government sponsored enterprises taken over by the federal government at the peak of the financial crisis and backed by taxpayer money. The government supported program has strongly nationalized mortgage lending and put the housing market on life-support.… Continue reading Nationalized Lending May be Permanent
Category: Loans
Benefits of FHA Loans
FHA loans are fast becoming a popular option for home buyers, and rightly so. With their backing from the federal government they are appealing not only to the home buyer but also to the lender. Today’s lending markets are tough; good credit, significant down payments and steady employment is necessary. FHA loans make these requirements… Continue reading Benefits of FHA Loans
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
Lending on Steroids Triggers Bigger Bust
By Mike Colpitts Editor As the nations real estate crisis worsens beyond what once seemed unimaginable, a new Housing Predictor analysis shows that the crisis will deflate the value of U.S. homes in the majority of the country between 55 and 70% on average from the markets highest peaks. The amount of deflation depends on… Continue reading Lending on Steroids Triggers Bigger Bust
Time to Buy or Rent Housing
By David Wilkening Conventional wisdom has it that rental housing is throwing money away. But is it really in these times? Not necessarily. It depends in part on where you are located, but in many areas of the U.S. rents are being held down by the dramatic overbuilding of homes and condominiums. In hyper overbuilt… Continue reading Time to Buy or Rent Housing
Finding Money in a Short Sale
By Tony Evans If youre a homeowner and want to save your credit and eliminate foreclosure proceedings, selling your home through a short sale just might be the ticket. So turn on your computer printer because youll want to print this column for future reference. See how the BUZZZ is taking care of you! There… Continue reading Finding Money in a Short Sale
Selling Real Estate without Silent Second Mortgages
By Mike Colpitts In these challenging days of selling real estate “silent second” mortgages are making a quiet, some what frightening, most often times illegal comeback. Silent seconds as they are called in real estate parlance are second mortgages, which are not revealed to lenders and can find the user’s behind bars in the local… Continue reading Selling Real Estate without Silent Second Mortgages
Stealing a House in a Short Sale
By Tony Evans Everybody wants to know how to steal a house, and there are plenty of people trying to these days. Say youve missed some mortgage payments and think maybe youll be able to “catch up” later on, but you cant. You call your lender explaining your ‘temporary problem,’ but they cant think of… Continue reading Stealing a House in a Short Sale
Bulk Government Foreclosure Sales Start
By Mike Colpitts The U.S. government is starting to sell-off its massive over-supply of foreclosed homes to investment equity firms at major discounts in a controversial trial program that could result in the future sale of hundreds of thousands of similar homes for pennies on the dollar. The Federal Housing Finance Agency (FHFA) announced the… Continue reading Bulk Government Foreclosure Sales Start
Home Mortgages and Refinancing
Mortgage rates have been on their way down after the Fed cut the prime rate to near historic lows in an effort to help stabilize the economy. More than 5-million homeowners are facing re-adjustments in their adjustable rate mortgages nationally in 2009 and 2010, and the drop in home borrowing rates will provide the difference… Continue reading Home Mortgages and Refinancing