By Kevin Chiu The massive financial reform legislation package being debated in Congress attempts to halt predatory lending, and sets a framework into action that would reshape the mortgage lending industry. But the sweeping reforms don’t include a mention of the nation’s biggest mortgage debacle, Fannie Mae and Freddie Mac, the broken government sponsored enterprises.… Continue reading Mortgage Reform Limited in Congress Financial Bill
Category: Mortgage
Waking Up to the Economic Depression
By Mike Colpitts It’s been almost three years since Housing Predictor forecast an economic depression in August, 2007 as a result of the real estate collapse and what we collectively called then a credit crisis. Nobel Laureate Paul Krugman is the latest to sound the bell, writing that we are in the beginning of another… Continue reading Waking Up to the Economic Depression
Love of Real Estate Riches
You really have to love something that makes a lot of people happy and rich! Up until the market turned hundreds of thousands of people we’re getting H-A-P-P-Y in real estate, and many we’re getting rich. It was really pretty difficult to make a mistake in the early days of the real estate boom. Millions… Continue reading Love of Real Estate Riches
Mortgage Rates Hitting New Lows
By Cheryl Reams Mortgage rates haven’t been this low on record, but with the economy still struggling to improve and the housing market showing few signs of a steady improvement it doesn’t seem to matter that much to those considering the purchase of a home. The Freddie Mac 30 year fixed rate home mortgage dropped… Continue reading Mortgage Rates Hitting New Lows
Dependable General Contractor
By Jeanne Roberts Finding a dependable general contractor may take a lot of work. Perhaps up to a dozen phone calls, Internet searches or actual trips to city hall, but it is vital for home improvement projects plus your peace of mind will be assured. Not only is your home likely your largest and most… Continue reading Dependable General Contractor
Outlawing the New Wall Street Real Estate Financial Tool
Even before the greatest financial reform legislation is passed by Congress since the Great Depression, Wall Street bankers and creative companies are popping up to finagle another way to rake in billions of dollars in profits from real estate. Risky Wall Street practices have gained the attention of politicians at the state level, who are… Continue reading Outlawing the New Wall Street Real Estate Financial Tool
Financial Reform Act Includes Mortgage Relief to Aid Millions
By Kevin Chiu Mortgage relief for unemployed homeowners at risk of foreclosure is included in the sweeping financial reform act expected to be signed by President Barack Obama. The aid is aimed at helping millions of homeowners who have been thrown out of work by the troubled economy. Members of Congress agreed to spend $1-billion… Continue reading Financial Reform Act Includes Mortgage Relief to Aid Millions
Mortgage Rates Hit All-Time Low
Mortgage rates to purchase or refinance a home hit their lowest level of all-time this last week just as home sales showed signs of slowing as a result of the federal home buyers tax credit expiring. The rate for a 30 year conventional mortgage slipped to 4.69%, the lowest rate on record. Interest rates are… Continue reading Mortgage Rates Hit All-Time Low
Home Sales Fall Amid Growing Fears
By Kevin Chiu Existing home sales fell a slight 2.2% in May, but sales remain at a higher level than a year ago alleviating some fears about the housing market, according to the National Association of Realtors. The monthly report also showed a fall in the number of homes listed for sale, signaling an improving… Continue reading Home Sales Fall Amid Growing Fears
Hard Sell in Obama Housing Scorecard Debut
The White House is coming out with a hard sell to put its best face on the housing market in efforts to improve market conditions and win back voters, introducing a monthly scoreboard on the nation’s housing market. From the start, the program seems to be more like it’s out of the Roosevelt Great Depression… Continue reading Hard Sell in Obama Housing Scorecard Debut