Thought for the Day
"Success seems to be largely a matter of hanging on after others have let go." -- Publisher William Feather
Economic News
Mortgage Rates Hit a New Low! Time To Get Off The Fence!
Mortgage rates in Illinois, and the nation, have hit a new low. Purchase or refinance… It may be time to make that move that you’ve been putting off!
Visit msnbc.com for breaking news, world news, and news about the economy
Mortgage Regulators: Who’s Interests Are Really Being Served?
This video, from our friends Frank and Brian at TBWS, is an eye opener! As the regulators continue to try to “fix” what they think is broken, does anyone find it as interesting as I do, that the large majority of legislation affects the mortgage broker negatively and affects the banker in virtually no [...]
Home Mortgage Rates Increasing??
March 31, 2010 is the scheduled end to the Fed’s multi-trillion $$ purchase of Mortgage Backed Securities!! While the exact impact is uncertain, most economists expect rates to increase, at least on a temporary basis. There’s a nice explanation in the Think Big Work Small video below…
TBWS Daily Monday March 15, 2010
Credit Card Reform?? What have they really created?
Having worked for B of A for 13 years, while I find this segment funny, I also find it quite disturbing!
The Daily Show With Jon Stewart
Mon – Thurs 11p / 10c
Home Affordable Program Extended!!!
A valuable mortgage tool to help troubled homeowners has been extended! See video below…
According to statistics from Fannie Mae, “more than 329,000 loans have been delivered to Fannie Mae through the Refi Plus flexibilities. Of those loans, more than 100,000 were refinanced under the HARP with loan-to-value ratios between 80% and 125%!!
My question is: How [...]
Where’s the REAL Incentive to Turn the Real Estate/Mortgage Market Around??
View this video by clicking here and, from the perspective of the lender, what do you think is the most financially beneficial course of action… helping the homeowner out with a loan modification OR pushing them into a short sale???
The numbers proposed in this video are purported to be true! If that is the case, [...]
New Credit Card Rules
In recent weeks, I have discussed the glut of new guidelines and their effect on the consumer’s mortgage application. I have also discussed some of the adverse effects that credit cards and their rule changes have had on the consumer’s flexibility in obtaining a mortgage. Well… there are a few new changes that are coming [...]
Credit Card Alert!!
As we have explored in an earlier post, one of the basic rules of improving your credit score is to NOT close a credit card account when you pay it off. This process applies to the “Credit Saturation” threshold that we’ve previously investigated. This is a procedure that I try to impress upon all of [...]
Petition to End HVCC Being Presented Today
A petition containing 117,000+ signatures to end HVCC (Home Value Code of Conduct), is being presented by Brian Stevens and Frank Garay from Think Big Work Small, to Andrew Cuomo, today in New York.
According to HVCCpetition.com, the signing statistics were as follows:
39.6% if the petition signers were mortgage originators
29.8% of the petition signers were real [...]
Home Buyer Tax Credit Extended and Enhanced!
Illinois Home Buyers Take Note… Home buyer Tax Credit Extended and Enhanced!
On November 5, 2009, Congress gave final approval to legislation expanding an $8,000 tax credit for first-time home buyers, and President Obama signed the bill on November 6, 2009!
Highlights:
The new bill extends, until April 30, the $8,000 tax credit for first-time homebuyers that [...]
JULY SPECIAL... Fannie Mae/Freddie Mac Home Affordable Refinance Extended until 6/2011! I WILL CREDIT THE COST OF APPRAISAL ON CLOSED LOANS THAT APPLY IN JULY!