Jumbo Mortgages, Jumbo Headaches

FEBRUARY 24, 2009, WSJ By NICK TIMIRAOS Washington is trying to ease the mortgage crisis by helping people refinance into home loans with better ... of California, New York and Hawaii. Anything bigger is called a "jumbo" loan -- and not only ... -backed mortgage agency, such as Fannie Mae or Freddie Mac, meaning banks assume the risk if the loan [more...]

Date: 2009-02-24 13:58:00

Blog posts (48) | Videos (1)
 

Senate Amendment to 2009 Stimulus Bill: 4% Fixed-Rate Mortgage

Without any Republican support, the 2009 stimulus package pushed by President Obama passed the House of Representatives ... and homeowners seeking to refinance. ( CNN ) When housing prices increased the level [more...]

Date: 2009-02-02 13:00:28

Help a Reader: Financing a Car

Here's a question I recently received from a reader: Would financing a car now, with a good down payment, and plans to pay it off before the end of 2009 effect my credit and mortgage worthiness if we wanted to purchase a home at the end of 2009 to mid 2010? Your thoughts? [more...]

Date: 2008-10-13 19:45:10

How are Mortgage Markets Responding to the Largest Job Loss since 1945?

In 2009’s first full week of trading, mortgage bond markets traded back-and-forth, eventually closing the week improved overall ... of negative economic news, however, mortgage rates remain low. If you have yet to join the Refinance Boom [more...]

Date: 2009-01-13 00:17:23

Remarks of President Obama on the Home Mortgage Crisis

Phoenix, Arizona February 18, 2009 I’m here today to talk about a crisis unlike any we’ve ever known – but one that you know very well here in Mesa, and throughout the Valley. In Phoenix and its surrounding suburbs, the American Dream is being tested by a home mortgage crisis that not only threatens the stability of our economy but also the [more...]

Date: 2009-02-18 14:37:00

The Nitty Gritty of Obama's Mortgage Plan

The Nitty Gritty of Obama's Mortgage Plan — By Nick Baumann | Wed February 18, 2009 12:11 PM PST Speaking in Phoenix, Arizona on Wednesday, ... to refinance those mortgages. Previously, only borrowers who had at least 20 percent home equity could refinance. By refinancing at a lower rate, borrowers could save thousands of dollars annually [more...]

Date: 2009-02-18 20:11:32

Vote to Encourage P2P Lending - And other financial posts

***** Only Two Hours remain for your vote to count - Help Encourage Peer to Peer Lending by VOTING ***** Cheap Stocks 21 Net Net Index Update ... In My Neighborhood A Sad Christmas Story I Got A New Car Yesterday December Site Review Live Like A Millionaire in 2009 New Year Wishes Reasons to Refinance Your Mortgage A Couple of Blog Fixes [more...]

Date: 2009-01-15 20:09:07

How would you “stimulate” the economy?

As much as I’ve tried not to watch the news any more than I have to, ... of dollars, which was at that time the largest single charges against the federal credit card ... , the auto industry asking for more money, mortgage bailouts, and STILL the Omnibus for 2009-10 [more...]

Date: 2009-03-07 17:40:51

Fannie Mae Relaxes Standards For Refinancing

By Meg Marco, 3:59 PM on Thu Feb 5 2009, 4, ... break the logjam in mortgage refinancing, the company is extending its refinance offerings [more...]

Date: 2009-02-05 20:59:14

Twitter Updates for Week of 2009-03-08

So where’s the “Paid your mortgage on time, didn’t default or get in over your head and contribute to the collapse tax credit”? ... for just about anything. # I am totally amazed at the number of people out and about today. # It’s auto [more...]

Date: 2009-03-08 21:28:00

1 In 8 US Households Either Late Or In Foreclosure

By Meg Marco, 11:58 AM on Thu Mar 5 2009, 3,975 views Here's your daily depressing mortgage news — as employers shed jobs mortgage delinquencies are rising — intensifying and spreading the mortgage crisis.The Mortgage Bankers Association [more...]

Date: 2009-03-05 16:58:13

D. C. Follies, 21st Century Edition

D. C. Follies, 21st Century Edition Posted by Michael Laprarie Published: February 3, 2009 - 1: ... to refinance his Countrywide mortgages. Timothy Geithner, former President of the Federal Reserve Bank [more...]

Date: 2009-02-02 15:03:22

Houston’s Own Mortgage Bailout Bad Idea

ChrisB on Feb 24 2009 at 10:29 am | Filed under: Chris' Page, Domestic Politics Kinda ... to help them pay off loans and improve their credit scores to help them get approved for a mortgage loan ... actually responsible and trustworthy. Government can’t just treat loan standards and credit scores [more...]

Date: 2009-02-24 16:29:36

H&I Fires* 24 February 2009

H&I Fires* 24 February 2009 By Denizens on February 24, 2009 | Permalink | Comments (14) | TrackBacks (0) ... . Its emergency aid covers mortgage payments and food, car repairs, medical bills, travel to family funerals ... of its emergency aid during the period 2003-2007. For accounting purposes, the loans, dispensed interest [more...]

Date: 2009-02-24 14:20:46

Wells Fargo Cuts Dividend, Sees Surging Mortgage Activity

The top mortgage lender of 2008 is already seeing huge numbers in 2009, according to a recent release from Wells Fargo ... Fargo saw fourth quarter residential loan origination ... [more...]

Date: 2009-03-09 18:18:17

Financial Forecast for 2009, Considering Resource Limitations

In this post, I consider some major issues contributing to our current financial problems, before making a financial forecast for 2009. These are 1 ... from the bottom: Layer 1. Household Debt (Mortgages, auto loans, credit card debt, student loans ... from ordinary citizens support the businesses and governments that have loans higher up on the "tower [more...]

Date: 2009-01-06 15:10:32

Is Mortgage Insurance Contributing to the Foreclosure Epidemic?

RISMEDIA, March 9, 2009-Recently, in several articles, I point out that loan modification is a no-brainer for lenders. They essentially have the following choices: Loan modification Foreclosure Forbearance Deed in lieu Short sale All things being equal, offering a loan modification to borrowers is usually the best option for lenders, [more...]

Date: 2009-03-08 18:03:39

Bankruptcy Filings Up 31% in 2008

The Administrative Office of the U.S. Courts reports: ... economy in 2009, bankruptcy filings will probably increase sharply. Plus the mortgage cram-down [more...]

Date: 2009-03-05 20:30:00

One Way or the Other, Uncle Sam Will Bail Out Mortgages

Everyone predicts imminent catastrophe if his plan for the mortgage crisis isn’t followed. Here's the sorry truth. February 24, 2009 - by Charlie MartinWe’re in the middle of the continuing crisis and there are regular announcements of collapse and catastrophe [more...]

Date: 2009-02-24 08:30:15

Ascendas REIT - Looks undervalued

A-REIT has obtained S$200m in credit facilities to refinance part of its S$300m commercial mortgage-backed securities (16% of total debt) due in August 2009 at a low credit spread of 120bp (vs [more...]

Date: 2009-01-14 04:05:00

Remarks of President Barack Obama on the Home Mortgage Crisis

Remarks of President Barack Obama on the Home Mortgage Crisis-As Prepared for Delivery Phoenix, Arizona February 18, 2009 I’m here today to talk about a crisis unlike any we’ve ever known – but one that you know very well here in Mesa, and throughout the Valley [more...]

Date: 2009-02-19 12:29:00

Mortgage Woes Break Records again in Fourth Quarter

RISMEDIA, March 9, 2009-(MCT)-The American Dream of homeownership continues to unravel ... . While the $75 billion plan could help change the loan terms or refinance up to 9 million homeowners [more...]

Date: 2009-03-08 18:06:35

How Banks Are Worsening the Foreclosure Crisis

How the banking industry is undermining efforts to keep people in their houses February 12, 2009, BUSINESSWEEK By Brian Grow, Keith Epstein and Robert Berner The bad mortgages that got the current financial crisis started have produced a terrifying wave of home foreclosures [more...]

Date: 2009-02-14 15:22:00

Most Popular on Consumerism Commentary, February 2009

Monthly subscription reminder One of the best methods of reading Consumerism Commentary and staying up-to-date with the latest articles and posts ... 4% Fixed-Rate Mortgage Read the Complete Stimulus Bill (American Recovery and Reinvestment Act of 2009 [more...]

Date: 2009-03-02 01:35:57

Don't Miss Frontline's "Inside The Meltdown" Tonight

By Meg Marco, 1:49 PM on Tue Feb 17 2009, 6,566 views Tonight at 9 eastern Frontline's new documentary " ... about mortgages," says economist Gertler. "We're talking about car loans, loans to small businesses ... Inside The Meltdown" will debut on PBS and online. We've only seen the trailer, but the press [more...]

Date: 2009-02-17 18:49:19

[For Vents] Crisis in the Heartland

Crisis in the Heartland: Consequences of the New Wall Street System Peter Gowan New Left Review 55 January/February 2009 Against mainstream ... in the us economy within a matter of months—and not just mortgages, but car loans, credit-card receivables ... 2008 As stock markets plunge and governments scramble to bail out the finance sector, [more...]

Date: 2009-03-02 17:10:24

What's In This New Obama Foreclosure Plan?

By Alex Chasick, 12:51 PM on Wed Feb 18 2009, 10,764 views With the economic stimulus ( ... will be able to refinance their mortgages at a lower rate.Any institution that wants to receive any ... ) that make it easier for homeowners to refinance their primary residences. Monthly payments will not exceed [more...]

Date: 2009-02-18 17:51:00

Senate Amendment to 2009 Stimulus Bill: Moratorium on Foreclosures

As Barack Obama’s 2009 economic stimulus plan makes its way through Congress, ... to qualify for a typical mortgage refinance, a tool for those who have been able to pay their monthly [more...]

Date: 2009-02-02 19:00:28

The Home Front - Buyers Demand Quick Response from Agents

RISMEDIA, March 9, 2009-(MCT)-Real estate agents going into this new sales season without a BlackBerry, ... buying. Mortgage fraud targeted California’s district attorneys say they’ve been overrun by complaints of alleged mortgage fraud by mortgage brokers. So they’ve sponsored a bill to make [more...]

Date: 2009-03-08 18:05:00

Photographer Annie Leibovitz pawns her life's work for a £10m loan to pay her mortgage

By  Mail Foreign Service Last updated at 6:50 PM on 25th February 2009 Comments ( 13 ) ... Capital, ownership of all her work  -  past and future  -  until the loan is repaid.  Victim [more...]

Date: 2009-02-26 13:59:00

General Consumer Articles:Weeks in Review February 16 March 1, 2009

Newly Written Articles Finding a Good Buyer's Agent (And Eliminating Bad Ones) . Games with Mortgage Loan Rate Locks ( ... of getting loans done. Would you pay 1% of loan amount to cut your interest rate by 2% per year? If you're ... The basics of common interest developments. Loan Documents - Contracts of Adhesion . They're [more...]

Date: 2009-03-02 04:00:00

Is it the Right Time to Refinance My Home Mortgage Loan?

Depending on when you purchased your home, refinancing may be a great option for you. However you need to balance the cost of refinancing your home with the resulting savings. 30 year fixed mortgage rates are constantly fluctuating, but it is estimated they will be between 5 and 6 % in 2009. 30 year fixed ... [more...]

Date: 2009-03-09 21:07:32

$75 billion in mortgage relief: Obama's new "Homeowner Affordability and Stability Plan" as outlined on their blog

Wednesday, February 18th, 2009 at 9:36 am Help for homeowners The President’s strategy for economic recovery is a stool with several legs, ... to refinance into a 30 or 15 year, fixed rate loan.   Through the program, Fannie Mae and Freddie Mac ... , like, Am I eligible for assistance? Might I be able to modify my loan? When do I apply? We've put [more...]

Date: 2009-02-18 17:12:00

The Politics of Four Percent Mortgages

Why the Democrats killed a reasonable GOP proposal that was ignored by the mainstream media ... . February 28, 2009 - by Tristan YatesPage 1 of 2  Next - In the midst of the recent stimulus debate, an innovative Republican proposal emerged that would allow banks to refinance mortgage loans [more...]

Date: 2009-02-28 08:00:58

Next Economic Flash Point--Credit Cards

Banks' future woes in one word: plastic Quote: NEW YORK (CNNMoney.com) -- Major banks have been hit hard by bad mortgages ... headache to deal with: credit card defaults. There have been no shortage of warnings ... that he had no doubts 2009 would be an "awful year" for the credit card industry. Unfortunately for Lewis [more...]

Date: 2009-03-10 15:54:31

Stop Foreclosure Fast By Applying These Suggestions

Escalating foreclosure rates are a sad measure of the condition of our economy. A piece posted January 9, 2009 in the online Wall Street Journal stated that one in 10 homeowners, about 4.6 million people, are either behind on their mortgage payments or are having their homes [more...]

Date: 2009-01-26 11:29:18

Submitted by scouttle on January 31, 2009 - 5:57pm. A:An "unsecured debt" is a debt that has no collateral. A car loan is made against a car, a mortgage (usually) made against the house: if the debtor ... loans to other people. Generally, unsecured loans have higher interest rates and less favorable [more...]

Date: 2009-01-31 22:57:46

Check your “Credit Age”

Copyright © 2006-2009 Clever Dude. All Rights Reserved. I get a ton of emails each day with media releases and “check this URL out” requests ... can impact your entire life, from getting a mortgage or car loan, getting decent car insurance rates ... . Recently, though, I got a request to take a “Credit Age” quiz, and since I love rankings [more...]

Date: 2009-01-29 01:13:01

Why Won’t Mortgage Rates Drop Below 5% ?

Mortgage-backed securities have been on a tear, improving more than a half a point in the last week.  This means that the 5 ... it clear that they just hate refinance transactions, because of nebulous valuations, in their pricing.  Expect refinance transactions to become even more expensive, in 2009. What this means [more...]

Date: 2008-12-10 21:34:52

The 2009 Money Diet

Everything in Moderation: The 2009 Money Diet This article is reprinted with permission from the Financial Planning Association® When it ... on a regular basis and expenses you know are coming up. Monthly mortgage, auto or rent payments; student loans, monthly utilities, home, auto, life or disability [more...]

Date: 2009-02-02 15:52:16

Making Home Affordable—the Obama Housing Plan

On February 18, 2009, President Obama announced his plan designed to help up to 7 to 9 million families avoid foreclosure by restructuring or ... main elements. 1. The Home Affordable Refinance Program: GSE Refinancing for 4 to 5 Million ... refinance loans that the GSEs own or guarantee (about half of all outstanding mortgages). The program [more...]

Date: 2009-03-07 03:58:38

Faces Of Foreclosure: The Nonagenarian (He's 92.)

By Meg Marco, 5:59 PM on Thu Feb 5 2009, 3,113 views Our sister publication, Consumer Reports, ... . He's 92-years-old and was sold a refinance over the phone. He went from a fixed rate mortgage to an option-ARM [more...]

Date: 2009-02-05 22:59:15

Lebanon central bank chief got it right

Posted by David Kramer at March 5, 2009 02:38 PM"Riad Toufic Salame, the governor of Lebanon's central bank, bucked pressure in 2005 and kept Lebanese banks from investing in mortgage-backed securities. Now the sector is prospering amid the global downturn." Read the rest of the article here. [more...]

Date: 2009-03-05 20:38:52

links for 2009-03-06

The bogus GOP claim that Obama is making war on the rich - Daniel Gross Capitalism Beyond the Crisis - Sen - The New York Review of Books ... -- or Kudlow? - Los Angeles Times Mankiw’s GOP Talking Points on Obama’s Budget - pgl Mortgage [more...]

Date: 2009-03-06 08:06:00

President Obama Weekly Address 03/07/09 PODCAST VIDEO TEXT

SATURDAY, March 07, 2009 WEEKLY ADDRESS BY THE PRESIDENT TO THE NATION PODCAST OF THIS ARTICLE Download MP3 4 ... more -- we are implementing a plan to allow lenders to work with borrowers to refinance or restructure their mortgages [more...]

Date: 2009-03-07 14:27:00

Moody's Bottom Rung list includes AMD, Clearwire, Palm, Unisys; Media default Armageddon

March 10th, 2009 Posted by Larry Dignan @ 7:30 amCategories:AMD, Economy, General, Palm, Sirius XM, TelecommunicationsTags:Unisys Corp ... had 157 companies. Moody’s, under fire for failing to warn folks about the impending mortgage [more...]

Date: 2009-03-10 14:30:30

Trulia Experiences Record Growth for Community Feature in February 2009

Real estate search site Trulia experienced record growth for its community-based feature, Trulia Voices, last month ... ," said Heather Fernandez, VP of Marketing of Trulia. "President Obama's Mortgage Relief plan [more...]

Date: 2009-03-01 14:59:51

News to know: Green Silicon Valley, Napping datacenters, Craigslist prostitution, Clearwire

March 6th, 2009 Posted by Sam Diaz @ 2:00 amCategories:News to knowTags:Silicon Valley, Larry Dignan, Craigslist, Mozilla Firefox, Data Center, ... : SOA may have reduced severity of mortgage crisisExcel, the original (but manual) corporate [more...]

Date: 2009-03-06 10:00:20

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