Monthly Archives: November 2009

When Should You Stiff Your Lender?

A large number of homeowners remain in home where they owe more on their mortgage than it is worth. People get attached to their homes and they don’t want the hassle of a foreclosure, the significant hit it gives to … Continue reading

Posted in Banks, Foreclosure, mortgage, Refinance | Tagged , , , , , | Comments Off on When Should You Stiff Your Lender?

Mortgage Rates Are At Record Lows

But can you qualify? That’s the question. Do you have sterling credit scores? Do you have verifiable income? Do you have significant equity in your home (if you are looking to refinance)? Despite these record low interest rates, mortgage activity … Continue reading

Posted in mortgage, Refinance | Tagged , , , , , | Comments Off on Mortgage Rates Are At Record Lows

Federal Reserve Releases PSA About Wise Credit Card Use

The Federal Reserve wants to improve its image. Currently, people think about it as an agency that facilitates bailouts of fat cats on Wall Street. The Obama administration is more interventionist than the Bush administration. Even though the Fed is … Continue reading

Posted in federal reserve | Tagged , , , , , | Comments Off on Federal Reserve Releases PSA About Wise Credit Card Use

Give The Gift Of Scene Seeker

I have a new motto for holiday shopping this year: Fun but affordable. Forget expensive gifts that soon find their way to the remainder bin at some big box retailer, or presents that quickly fall out of style and gather … Continue reading

Posted in Ads | Tagged , , , , , | Comments Off on Give The Gift Of Scene Seeker

Qualifying For A Refinance

Will you qualify? That’s the first thing you should think about before going through the enormous paperwork necessary to get a refinance these days. To get a refinance now you need sterling credit scores and abundant equity in your home. … Continue reading

Posted in Refinance | Tagged , , , , , | Comments Off on Qualifying For A Refinance

Wall Street Applauds Home Sales

Home sales were up 10.6% in October. They are up 33% since January. Wall Street is going up in part because of this. I’ve heard lots of stories about bidding wars. I have a friend who spent six months looking … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Wall Street Applauds Home Sales

Renters Hurt By Rising Defaults

As rental complexes go into foreclosure, renters are having a hard time getting necessary repairs. Big surprise huh? Everyone is hurting in this recession, whether they are renter or home owners. Foreclosures are expected to increase through next year despite … Continue reading

Posted in Foreclosure, mortgage | Tagged , , , , , | Comments Off on Renters Hurt By Rising Defaults

Mortgage Applications Drop Again

Despite massive government intervention to subsidize the buying of homes with generous tax credits, applications for mortgages keep dropping. This now includes refinance applications. All this comes while interest rates are at near record lows. It seems that despite large … Continue reading

Posted in Applications | Tagged , , , , , | Comments Off on Mortgage Applications Drop Again

Housing Starts Down 10.6% Last Month

Analysts were expecting an increase. The building industry remains devastated. It is down about 30% from Oct. 2008. Congress is subsidizing the purchase of new homes for a primary residence with generous tax credits. The Los Angeles Times says: The … Continue reading

Posted in Real Estate | Tagged , , , , , | Comments Off on Housing Starts Down 10.6% Last Month

More Prime Loans Going Into Foreclosure

Our current economic downturn began with subprime loans. They were going into foreclosure at higher rates than expected, causing a sell-off that flowed through the entire housing market in the U.S. and then on to the world economy. As expected, … Continue reading

Posted in Banks, Foreclosure, mortgage, Refinance | Tagged , , , , , | Comments Off on More Prime Loans Going Into Foreclosure