Dems: Don?t Forget Homeowners with $700 Billion Bailout Plan
The political maneuvers have begun. Rather than just shoving the $700 billion bailout plan through like the Treasury and the rest of the Bush Administration wants, some members of Congress are asking some questions about what the bailout does.
Should it just be for Wall Street? Is there any reason that others can’t get the good […]
Financial Rescue Plan Announced Today
This morning, both President Bush and Treasury Secretary Paulson announced that they are essentially pulling out all the stops in an attempt to rescue the beleaguered financial sector. Indeed, after allowing greedy speculators to build the economy based debt and on home mortgage loan decisions that were in no way sustainable, the the government is […]
Resolution Trust Corporation, Take Two?
The time is the late eighties. A Republican administration was coming to an end of eight years in office. In the financial sector, destruction was reigning down as the fruits of gleeful greed from the previous years’ deregulation turned out to be less than sweet.
Fast forward 20 years. It’s like we’re in almost exactly the […]
Awaiting the Fed Interest Rate Decision: Is Now a Good Time to Refinance?
Now could be a good time to refinance into a second home mortgage — if you have the credit and the equity to do so. Why? Because a couple of things are happening that may make home equity loans a little more desirable:
The Fed could lower interest rates today.
The Fed has just injected liquidity into […]
Bank of America Buys Merrill Lynch
Even as Lehman Brothers files for bankruptcy, Bank of America has turned its sights on Merrill Lynch, buying it out for close to $50 billion. Bank of America has, indeed, created a reputation for itself as a kind of savior, especially since its earlier acquisition of embattled mortgage lender Countrywide.
And now Bank of America is […]
Is Joining a Homeowners? Assocation a Good Idea?
One of the trends picking up steam over the last few years has been that of developed properties. Condo and townhome communities, as well as gated or pre-planned single home communities are popping up all over the country. And many of these communities have a Homeowners’ Association (HOA).
What is a Homeowners’ Association?
A homeowners’ association (HOA) […]
Contemplating the American Dream on the Anniversary of 9/11
Ever since I was young, I can remember the American Dream being represented as owning a home. That’s sort of been the standard for quite some time: Anyone can come and get a bit of land to call his or her own, and have a house. So it seems fairly appropriate to consider the American […]
Mortgage Market News: Mortgage Interest Rates and DAPs
Mortgage market news is seeing some movement today. The biggest news is that mortgage interest rates are falling dramatically. The government move to takeover Fannie and Freddie is injecting some confidence in the mortgage market, so interest rates are falling. On this news, mortgage applications are on the rise. More buyers are trying to get […]
Can?t Qualify for a Home Loan? 4 Ways to Become More Attractive to Mortgage L…
Right now, with tightened lending standards and wary mortgage lenders, many people are finding that they do not qualify for the home loan that they want. Indeed, many folks who would have found it easy to get a home mortgage loan in the freewheeling days before the subprime lending crash are having difficulty right now. […]
New FHA Loan Rules
In all the hoopla about Fannie Mae and Freddie Mac over the weekend, it is not surprising that some smaller news revolving around FHA loan rules has been somewhat overlooked. But there is some merit in bringing these new rules to light — if only to take a break from the incessant chatter about Fannie […]
