Tag Archives: Banks

Help For Homeowners Behind On Their House Payments

Who is eligible and what do you get? Banks find it much more difficult to foreclose in Florida. By contrast, states like California have a comparatively simple and quick process. Report: When a homeowner misses the second payment of a … Continue reading

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What Caused The Housing Boom & Bust?

I’m reading this new book by economist Thomas Sowell — The Housing Boom and Bust. From 2000 to 2005, the average home price in the United States increased by one-third. Millions of Americans began using their homes as ATMs, getting … Continue reading

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Los Angeles Bank Failures

Local branches of some of the more wobbly banks are reporting that millions are leaving as depositors run on the banks.  Where is your coverage.  The top banks waiting to collapse are Downey and First Federal.  Both have very little … Continue reading

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Mortgage Market Changes

There’s been a lot of change over the past decade. Nowadays about 70 of home buyers begin their search online. Lenders now decide on a credit by using complicated computer-generated models. They underwrite and process loans via desktop computers. There’s … Continue reading

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Taking A Mortgage Holiday

Here’s a report from New Zealand: All the major banks offer three-month mortgage holidays, designed to give financial breathing space to customers experiencing life changes such as having a baby, an unexpected illness or job loss. Lawrence Diack, from Approved … Continue reading

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Adjustable Rate Mortgages

Mortgage consultant Peter Boutell writes that borrowers assume the risk when they take on an ARM. You’ve probably heard about balloon payments. If you haven’t paid off your loan by a certain date (after three to five years), you’ll have … Continue reading

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The Pre-Approved Mortgages And Its Advantages

Emily Green writes for the Wall Street Journal that having a pre-approved mortgage will give you an advantage when you start bargaining over the price of a home. These pre-approval letters don’t cost anything. They are usually good for 30-60 … Continue reading

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I’ve Got Downey, First Federal, Washington Mutual, Fremont On My Death Watch

You’ll show up one day and there’ll be a notice that this bank has been taken over the FTIC and if you have money there, it’ll take a couple of days to get it. Or Bank of America buys them … Continue reading

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Political Differences On Government Oversight Of Banks

Mickey Kaus writes: David Smith says scandal-scarred Fannie Mae and other "government sponsored enterprises" (GSEs) have successfully dodged the threat of stronger government oversight, thanks to the mortgage crisis–and the 2006 election. This appears to be a case where Republicans … Continue reading

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Private Equity Firms Gambling

Banks are more reluctant to lend money these days. Duh. What to do? Take a chance. LONDON (Reuters) – Buyout firms may need to take higher risks by stumping up more equity on bids and gambling on being able to … Continue reading

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