Monthly Archives: May 2009

The Government Is Cleaning Up the Mortgage Mess

The government is buying bad mortgages. The FBI are cracking down on fraudulent mortgage operations. Stricter standards are in place. Help is available. Mortgage rates are low. There’s a flood of refinance applications and Bank of America recently announced plans … Continue reading

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Know Your Money Goals Before You Refinance

It is a lot of hassle to refinance these days. You need to provide a lot more documentation than previously. Lenders are much more skeptical and reluctant to lend money to anyone with a less than stellar financial position. The … Continue reading

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Refinance Applications Slump

The great refinance boom of 2009 may be over. Apps are down 8%. Rates are edging lower. Reuters says: U.S. mortgage application demand slid to the lowest level since mid-March, driven by a drop in requests to refinance loans even … Continue reading

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Obama Wants To Regulate Derivatives

I was a lousy math student. I got a D in Algebra in high school as a freshman. I got Ds in my junior year in Geometry. I repeated it as a senior and got a C. I got to … Continue reading

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Refinancing Too Much Hassle For Many

Steve Rosen writes that the documentation needed to refinance is ridiculous and in the end, he decided it was too much bother. Yes, you can get a lower interest rate and consequently lower monthly payments if you can pull it … Continue reading

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Big Differences Between Our Recession & The Great Depression

Here’s a guest blog on the NYT’s Freakanomics blog: We had a huge real estate boom between 2000 and 2006. We’re now paying the bill for cheap money and lack of regulation for new financial vehicles. There were so many … Continue reading

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Regulating Mortgage Industry

Politicians are putting the screws to the mortgage industry and who will protest? The mortgage industry is widely blamed for our current economic recession. Lenders will be asked to reduce aggressive marketing and predatory lending practices. The Senate is expected … Continue reading

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Should The Government Bribe Lenders To Modify Mortgages?

Edward L. Glaeser is an economics professor at Harvard. He writes in the New York Times about Obama’s mortgage modification plan. Is it worth spending government money to encourage lenders to modify mortgage terms? Under the current housing plan, the … Continue reading

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‘American Mortgage’ By Trevor Rhodes, CEO of AmerUSA

This is a solid new book from McGraw-Hill. I particularly liked the section on the top five borrower blunders: * Applying for more credit while waiting for your mortgage to close * Stopping payment to your current lender while you … Continue reading

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An Interview With A Foreclosure Expert

Brad Geisen is the CEO of Foreclosure.com. At parties it used to be an awkward topic. Hi, I’m Bob. I’m a foreclosures expert. But now the times have changed and a lot of people like to talk about foreclosure. Foreclosures … Continue reading

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