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Archive for June, 2011

How Jobs at 75 Cents an Hour are Killing US Real Estate

How Jobs at 75 Cents an Hour are Killing US Real Estate

I’m not sure what pills are used to treat depression, but they ought to be available to real estate buyers and sellers by the bucket. Real estate folks need such pharmaceutical assistance because for the past five years the news has been dominated by the worst financial conditions since the Great Depression, a time which […]

Posted in: Jobs
Why You DON’T Need 20% Down For A House

Why You DON’T Need 20% Down For A House

There’s been a lot of talk claiming that new mortgage rules will soon require borrowers to put down 20% down if they want to buy a home. Such talk is nonsense. The alleged culprit in this matter is the Dodd-Frank Wall Street Reform and Consumer Protection Act. Having failed to prevent its passage, the lending […]

Posted in: Mortgages
Work & Foreclosures: Losing Jobs Means Losing Homes

Work & Foreclosures: Losing Jobs Means Losing Homes

Until the past few years foreclosures were rare. In fact, the Mortgage Bankers Association reports that in March 2005 just .44 percent of all loans were in the foreclosure process, a figure which grew almost seven-fold to 4.43 percent as of the third quarter of 2011. For November 2011 the aation saw 224,394 foreclosure filings according to RealtyTrac.com […]

Posted in: Jobs
How The FHA Is Sinking Mortgage Borrowers

How The FHA Is Sinking Mortgage Borrowers

Millions of people have financed and refinanced with FHA mortgages, but what used to be a financial safe-haven is increasingly not-so-attractive. Higher costs and gotcha clauses are making the FHA less unique and more expensive every day. Don’t believe it? Let’s look at some facts: Lender Fees With most forms of mortgage financing lenders have […]

Posted in: News
RealtyTrac: Foreclosure Activity Down For Eighth Month

RealtyTrac: Foreclosure Activity Down For Eighth Month

For the eighth month in a row foreclosure activity has fallen on an annualized basis. The numbers for May, according to RealtyTrac, show that  foreclosure filings — default notices, scheduled auctions and bank repossessions — were down 2 percent compared to April and 33 percent lower than a year ago. The catch? Well there are a […]

Posted in: News
Vets Get $22 Million to Settle Mortgage Foreclosure Claims

Vets Get $22 Million to Settle Mortgage Foreclosure Claims

Two national mortgage lenders will pay more than $22 million to settle claims under the Servicemembers Civil Relief Act (SCRA) that they allegedly violated a law meant to insulate military members from illegal foreclosure, according to the Department of Justice. A Bank of America subsidiary improperly foreclosed on about 160 service members from January 2006 […]

Posted in: Mortgages
Pawlenty Proposal: Worst American Tax Plan Ever

Pawlenty Proposal: Worst American Tax Plan Ever

There’s finally a serious Republican tax proposal on the table, and it’s a plan which deserves consideration. The Nation, of course, now has a massive budget deficit. Not since four straight years of surplus under Bill Clinton has the government broken even much less had a few spare dollars. Under President George W. Bush the […]

Posted in: News
What Makes American Chopper So Compelling?

What Makes American Chopper So Compelling?

At first it seems that one of the most popular shows on television is powered by no more than a family feud, bent metal and a growing real estate empire. But a closer look suggests that American Chopper — the motorcycle-tinged saga of a family business that’s transformed into a winning TV narative — reflects […]

Posted in: News
Do Real Estate Brokers Lie?

Do Real Estate Brokers Lie?

Is it fair to say that real estate brokers lie? That allegation has become the center of a massive dispute between a California real estate broker and the Orange County Association of Realtors. Larry Roberts is a California real estate broker who operates the IrvineHousingBlog.com. As with a huge number of other real estate brokers, […]

Posted in: News
Should I Pay More Points For A Lower Mortgage Rate?

Should I Pay More Points For A Lower Mortgage Rate?

The answer most often given no doubt looks at current mortgage rates and while interest is a big part of the answer, it’s not the only cost paid by borrowers. There is also an origination fee and, often, also one or more points. The origination fee is a charge to compensate the lender for his […]

Posted in: Mortgages