Monthly Archives: February 2012

FHA Needs A Bailout, Raising Mortgage Premiums

So far taxpayers have been on the hook for only a couple of billion dollars for the FHA. Mortgage insurance is a rotten business. It almost took down AIG. Only a massive $100 billion from the government (now repaid) kept … Continue reading

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Legislating Away Unpleasant Foreclosures

California’s Attorney General has called for a halt to foreclosures in the state. Such a move would gum up the free market, render housing business less efficient, and make investors less likely to put money into housing. Ahh, but it … Continue reading

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Fannie Mae Wants $4.6 Billion

President Obama’s plan to allow underwater homeowners to refinance their mortgages is only going to further drain government resources to prop up the housing industry. Over the next three years, Congress will be expected to pony up another $100 billion … Continue reading

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Too Big To Fail

I’m watching this HBO movie on the financial crisis of 2008. It starts out with references to deregulation of the financial sector under presidents Reagan and Clinton, as though that was the reason for the crash. The housing crash and … Continue reading

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Did you know your mortgage rate is adjustable?

Under today‚Äôs current economic climate people are always on the look out for ways of saving money and paying less for virtually everything. To reduce your monthly outgoings closely examine your mortgage policy to see whether your mortgage rate can … Continue reading

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Quick Facts About Reverse Mortgages

With a conventional mortgage, you have to make monthly payments so that you can stay in the house, be it a VA loan, or a FHA loan. While with a reverse mortgage, the opposite of conventional loan, you take out … Continue reading

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Mortgage Bonds Getting A Second Look

Until there’s a growing demand for mortgage-backed securities (MBS), lenders are not going to have many funds available for lending for new mortgages. Now some of the same people who were selling MBS prior to 2007 are now buying them, … Continue reading

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What Will Be The Cost To Taxpayers Of The Mortgage Settlement?

The late Nobel prize winner Milton Friedman summed up economics by saying, “There’s no free lunch.” So the Obama administration and state attorney generals extracted $26 billion from the five big banks to settle disputes over improper mortgage foreclosure paperwork … Continue reading

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Increase In Troubled Mortgages

The Dow Jones is near record highs and mortgage interest rates are holding at record lows, yet the percentage of troubled mortgages and the number of foreclosures are both rising. We’ve yet to see any sustainable bump upwards for housing … Continue reading

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Dow Jones Near Record Highs, Mortgage Rates Stay At Record Lows

A lack of demand for new mortgages is keeping rates around record lows, under 4% on 30-year fixed rate mortgages for folks with great credit scores. There’s yet to be an uptick in home sales as a result of these … Continue reading

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