Monthly Archives: October 2008

Is remodeling too risky for a beginner flipper?

From the House Flipping Answer Book: Simple renovations — like changing a few walls or doors — can easily be handled by novices. In fact, they may be essential for upgrading an older home to modern tastes. Years ago, homes … Continue reading

Posted in Real Estate | Tagged , , , , , | Comments Off on Is remodeling too risky for a beginner flipper?

Calling A Bottom To The Housing Market

CNN Money reports talks about a public bet that was much talked about a few months ago. The Fortress Mortgage Opportunities fund has been walloped as the asset- and mortgage-backed securities markets continue their epoch slides. The fund, with assets … Continue reading

Posted in Real Estate | Tagged , , , , , | Comments Off on Calling A Bottom To The Housing Market

Rebuilding Fannie Mae, Freddie Mac

The Washington Post analyzes Ben Bernanke’s remarks today and speculates on the changes he’s pushing. What to do about GSEs? They have contradictory missions — maximizing profits and acting in the public interest. Libertarians want the government to get out … Continue reading

Posted in fannie mae, freddie mac | Tagged , , , , , | Comments Off on Rebuilding Fannie Mae, Freddie Mac

Restructuring The Finance System

Credit problems now extend to student loans, car loans and credit cards. The whole system seemed in danger of shutting down a few weeks ago. Now the Dow Jones has jumped a thousand points. WASHINGTON (AP) — Federal Reserve Chairman … Continue reading

Posted in wall street | Tagged , , , , , | Comments Off on Restructuring The Finance System

Ben Bernanke Says Government Has A Role To Play In The Mortgage Market

I had no idea what a big fan Ben Bernanke is of government intervention. He even wants a second stimulus package. There’s talk about a government bond insurer such as the FDIC. WASHINGTON (Dow Jones) — Federal Reserve Chairman Ben … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on Ben Bernanke Says Government Has A Role To Play In The Mortgage Market

Mortgage Rates Jump

From the Los Angeles Times: Average rates on 15-year fixed-rate mortgages, popular with people who are refinancing, rose to 6.19% from 5.72% last week. Five-year adjustable-rate mortgages averaged 6.36%, up from 6.06%. One-year adjustable-rate mortgages rose to 5.38% from 5.23%. … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Mortgage Rates Jump

IndyMac As The Model For A Mortgage Turnaround

ABC News reports that the US Treasury is looking at a new proposal from the FDIC to insure mortgages. Lenders would modify loans and in exchange those loans would be insured. More: FDIC chairwoman Sheila Bair touted the benefits of … Continue reading

Posted in fannie mae, fdic, federal reserve | Tagged , , , , , | Comments Off on IndyMac As The Model For A Mortgage Turnaround

What Happens At A Foreclosure?

From the House Flipping Answer Book: On the day of the foreclosure sale, a representative of hte lender will stand on the courthouse steps and announce that the auction is proceeding. Most of the time, he will be the only … Continue reading

Posted in Foreclosure | Tagged , , , , | Comments Off on What Happens At A Foreclosure?

Not Bothering To Respond To A Refinance Offer From IndyMac

Here’s the model that the FDIC head lauded but many of its own borrowers seem unimpressed. How are you going to assist borrowers if you can’t get them to hear you? If they won’t respond to your offers? The FDIC … Continue reading

Posted in Foreclosure | Tagged , , , , , | Comments Off on Not Bothering To Respond To A Refinance Offer From IndyMac