Monthly Archives: November 2011

Another Chance To Refinance Your Mortgage

People who’ve been turned down multiple times on their applications to refinance their mortgage have a fresh new shot with the Obama administrations new plan to allow for the refinancing of underwater mortgages owned by Fannie Mae and Freddie Mac. … Continue reading

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Why Aren’t Cheap Mortgages Helping The Housing Market?

Before I even read the following article, but just the headline, I could tick off some answers. * Lower mortgage rates are helping the housing market. It would be much worse without the lower rates. * With the prospects for … Continue reading

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The Obama Administration Takes Down Banks, Sets Up More Bailouts

Sarah Palin gave a great speech about corporatism — about big government and big labor and big business doing cozy deals together. With the Obama administration’s restrictive regulations on banks, it is just setting up these institutions to need more … Continue reading

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Emergency Homeowners’ Loan Program Primarily Helped Homeowners In Just Three States

The USA Today reports on the billion dollar program’s narrow impact. More than half of that billion remains unspent because of insufficient homeowner interest. People just get tired of filling out reams of paperwork but that’s how the bureaucratic state … Continue reading

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Investors Relieved That Obama’s Refinancing Idea Not So Dramatic

So the Obama administration is going to make it possible for people with homes underwater to refinance their mortgages into lower rates. The private market won’t make such deals. It makes no sense to give a mortgage to somebody underwater … Continue reading

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Settling Foreclosure Lawsuits Against The Big Banks

Banks are expected to pay out $20 billion to settle a variety of lawsuits for their sloppy paperwork processing of foreclosures. Banks have been overwhelmed by the number of foreclosures and they lose about $40,000 at least with each foreclosure. … Continue reading

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Let The Free Market Do Its Job With Housing

The politicians keep proposing and passing plans to help housing but they are not stemming the rising tide of foreclosures. I agree with the free market argument of letting the government stay out of the way. When home prices fall … Continue reading

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Mortgage Interest Rates Steady

Mortgage interest rates remain near record lows. Borrowing costs have never been cheaper. Homes have never been cheaper. Why? Because there’s so little demand to buy a new home and to take on a mortgage. With so many people out … Continue reading

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Get Some Relief From Your Housing Woes!

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No Amount Of Government Intervention Will Stem Foreclosures

President Obama’s administration has new plans for the housing market. They’ve created a way for homeowners underwater and unable to refinance their homes to refinance into lower rates with mortgages owned by Fannie Mae and Freddie Mac. Despite this showy … Continue reading

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