Archive for May, 2007

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Mortgage Company helps Vets

Thursday, May 31st, 2007

In keeping with my last post and for the of week of Memorial Day I found this nice little article. It appears as though a VA Loans company decided to hold a scholarship competition to Veterans to describe the reason why they served. This could be a person going to college now or even for […]

Thank a Veteran and those that serve

Friday, May 25th, 2007

With this weekend being Memorial Day weekend I thought I would make a quick shout out to thank all the men and women who have served our country or are currently serving our country throughout the world, thank you. My father is a Vietnam Veteran and both of my grandfathers served in World War II […]

Natural Selection at work in the Mortgage industry

Wednesday, May 23rd, 2007

Darwinism in the Subprime market? A “natural selection” process or correction is rippling through the Subprime lending market. We have already seen tighter credit standards becoming the norm and higher interest rates are bringing home sales down in total. Loan production is predicted to be way down in comparison to years past. Many of the […]

Senator Clinton weighs in

Monday, May 21st, 2007

Swift action against irresponsible lending practices is requested by Senator Hilary Clinton. Senator Clinton has called on Chairman Ben Bernanke to make move quickly to correct problems in the subprime lending industry which have contributed to the current problems in the housing market and growing number of foreclosures. “Your optimistic forecast about the effect of […]

Let’s play the blame game!

Friday, May 18th, 2007

Who is at fault for the Sub Prime fallout? Well that’s a coin flip, is the Housing Market to blame or can some of that burden fall on the Financial Industry as well. In the end, the housing market will bear the chore of fixing the problem itself. Half of the Sub Prime loans were […]

Higher payments on your reverse mortgage

Thursday, May 17th, 2007

Do you have a higher valued home and are a member of the older generation of Americans in need of some help financially now that you are retired? Well there is a new reverse mortgage out just for your needs, the Prime Advantage. This option is set up for the higher valued homes with owners […]

Subprime bailout, not FHA modernization

Monday, May 14th, 2007

A bailout for the subprime industry is not exactly what the U.S. Department of Housing and Urban Development has in mind. The HUD is in full support of the FHA modernization to help out borrowers but is warning that a full blown bailout plan for the subprime market is not warranted. HUD Secretary Alphonso Jackson […]

HUD secretary returns home to St. Louis

Thursday, May 10th, 2007

Former Public Safety Director of St. Louis and current HUD secretary announced the release of nearly $1.8 billion in efforts to promote affordable housing and ownership all around the United State in his former stomping grounds of St. Louis. Alphonso Jackson, the nation’s housing chief, held the press conference at City Hall to announce the […]

Down payment assistance under fire

Wednesday, May 9th, 2007

Could the current aid assistance with down payments be a cause in the rise of foreclosures? The HUD is seeking a ban on certain down payment assistance programs which are used in government-backed mortgages. Nehemiah Corp. and AmeriDream Inc. provide the funds to aid in the down payment on home purchases and are then reimbursed […]

Who can be helped by a FHA refinance?

Tuesday, May 8th, 2007

So you are locked into a sub-prime loan and think the FHA can help you out. Well the FHA wants you know exactly who can be helped out by a FHA Refinance and who can’t. Here is a list of the qualifications to those that can be helped out by the FHA: 1. Can afford […]

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