Pay for Your OWN Mortgage
In a nation where very few people will take responsibility for their wrongdoings, maybe it is time we start. For those of you who have been financially responsible and have worked hard to develop your human capital, this is not for you. This is directed to those who grew complacent in their occupation and did [...]
Obama’s Making Home Affordable Program WILL Help You Refinance
The home affordable refinance program will provide up to 5 million responsible homeowners the opportunity to refinance at lower mortgage rates. Mortgage rates are currently at historical lows but homeowners who currently owe more than 80% of their home’s value find it very difficult to refinance. Many responsible homeowners have seen the value of their [...]
Honk If You’re Paying My Mortgage Bumber Sticker
Honk If You’re Paying My Mortgage bumper stickers are available here. Over 4,000 have been sold in the first week! If You Think Mortgage Rates are Low Now, Wait Until You Read This First the Mortgage Crisis, Now the Life Insurance Crisis? Will the Obama Mortgage Plan Help Me Get a Lower Mortgage Rate?
How Much Should My Down Payment Be on My Mortgage?
It wasn’t that long ago that you had to fulfill 20% of a mortgage loan with a down payment. If you wanted to buy a $200,000 home, you must pay $40,000 up front before the home was yours. This is not the case today as the Federal Housing Authority (FHA) has lowered the down payment [...]
Obama Mortgage Bailout Plan – 64% of Americans Feel it is Unfair
On Wednesday, March 5th, the Obama administration gave lenders the OK to start modifying home mortgages under the $75 billion Obama Mortgage Bailout Plan. The United States Treasury said borrowers would be required to prove hardship to the lenders. Such instances include job loss or reduction in income. Overall, President Obama feels that this will [...]
Mortgage Rates – Where Are They Headed?
We have seen mortgage rates hover between 5% and 5.25% for quite some time now. The question is, “where are mortgage rates headed from here?” This is a question that is very hard to answer as we are in a troubled economic time. Every asset class has been liquidated, the housing market continues to decline [...]
Obama Stimulus Check – How Much Will YOU Get?
First and foremost, you will not get a stimulus check this year. Instead of a stimulus check, we will see lower taxes being taken out of our paychecks. Last year was nice to see $600 in one lump sum, but this year, you might get even more back over the course of the entire year. [...]
First the Mortgage Crisis, Now the Life Insurance Crisis?
Back in December we wrote the article First the Subprime Mortgage Crisis; Now the “Exotic” Mortgage Crisis? The article illustrated how we could see another wave of mortgage failures when “exotic” adjustable rate mortgages reset in the next two years. We are slowly starting to see this play out as foreclosures remain at extremely high [...]
Counteroffers – What You Need To Know
A counteroffer is an offer that happens after the initial contract has been presented to the buyer. The buyer makes an offer then the seller responds with a counter offer. This can go on forever until one side accepts or declines. Making a counteroffer is actually much simplier than the initial offering. You will have [...]
Home Mortgage Loans – Will Lower Rates Help this Market?
The current housing and mortgage market has taken a beating over the last three years. The lending procedures for home mortgage loans could ultimately be the reason for the economic crisis we are currently in. Lenders offering low mortgage rates to anyone over the age of 18 kick started the subprime crisis. From the subprime [...]
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