Is Social Media Traffic Really Worth It?
Subprime Blogger is almost five months old and I thought it was time to step back and look at where most of the visitors come from. In the first three months of this blog, over 80% of the visitors came from social media websites; particularly Reddit, Stumbleupon, and Propeller. The content of this site does [...]
Good Faith Estimate (GFE) – What is It?
The Real Estate Settlement Procedures Act (RESPA) of 1974 states that when you file an application for a loan the lender must provide a good faith estimate (GFE) of closing costs. It is customary that the lender will give you the estimate before you leave upon completing your application, but by law they have three [...]
Life Insurance Crisis: Are We in the Clear?
At Subprime Blogger, we have exposed the possibility of a life insurance crisis in the last few weeks. A crisis that could cause any life insurance amount over $100,000 to suddenly vanish if insurers start going under. The probability of life insurance companies failing grows greater with each significant stock market decline. Life insurers have [...]
No Appraisal Refinance Coming?
The “Great Refi Boom” has been greatly hindered by current appraisal values of homes. The lending process comes to a screeching halt when lenders find out that the appraised value of a home has decreased over 30% in the last year. Lenders are not willing to fund these mortgage applications. This is happen more often [...]
Mortgage Rates Under 5%, Applications Up; Is it Time to Get a Refi?
United States weekly mortgage applications rose 11.3% week over week according to the Mortgage Bankers Association. This comes on the heels of a 12.6% drop during the prior week. Fixed rate mortgage applications rose 11.3% while adjustable rate mortgage application rose 14.4%. The average interest rate for a 30 year fixed rate mortgage fell below [...]
There is No Standard Real Estate Commission
There is no law that states what the standard real estate commission should be, but it is wise to find out the range that the seller broker is going to use. Sometimes they tell you it is between 5 and 7 percent, but some will narrow it down to between 5 and 5.5 percent. Either [...]
“Not Everybody Can Own a Home”
“It is ridiculous to think that everybody in this country can own a home. Many of you are not mature enough, not smart enough, you don’t earn enough, you are not responsible enough. Most of you are, some of you are not. It does not mean you are bad people. I have somebody in my [...]
Can You Buy a Home Without an Agent?
You can absolutely buy a home without an agent, but if you go the do-it-yourself route, you have the chance to make many mistakes. You may feel you are experienced and know everything to look for when buying a new home, but only real estate agents have the experience of looking at 1000s of houses [...]
Will Obama’s Making Home Affordable Program Affect Mortgage Rates?
President Obama’s Making Home Affordable Program will attempt to assist homeowners refinance at a lower rate as well as decrease the number of foreclosures. President Obama and his administration have worked very hard to create this program and hope to put a bottom in the housing market. Overall, he has gained the attention of Americans [...]
Life Insurance Crisis: Could Your Policy Really Disappear?
Earlier this month we wrote about the possibility of a Life Insurance Crisis and it seems to be getting closer to a harsh reality. A clear depiction of this is the stock charts of Hartford Financial, Lincoln National and Principal Financial. Each of these life insurers are down over 70% year-to-date as shown on this [...]
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