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Archive for September, 2011

Should Government Set Mortgage Rates?
By September 26, 2011 0 Comments Read More →

Should Government Set Mortgage Rates?

With all the talk of getting a new mortgage there’s one question which no one seems ready to touch: Why doesn’t the government ought to set mortgage rates? At first this may seem like an audacious idea, a violation somehow of the free market absolutism preferred by so many businesses and industries — at least […]

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Ready For The 3 Percent Mortgage?
By September 23, 2011 1 Comments Read More →

Ready For The 3 Percent Mortgage?

It was in the 1880s that long-term interest rates hit 3.5 percent, something we may soon see with mortgages. Mortgage borrowers are now seeing home loans at not much more than 4 percent for 30-year, fixed-rate mortgages. And, reports HSH.com, 15-year loans are already below 4 percent. The lower rates result in substantially reduced monthly […]

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Pawn Stars — How To Win At Haggling
By September 21, 2011 0 Comments Read More →

Pawn Stars — How To Win At Haggling

If it’s true that American Chopper is a metaphor for the workplace then there’s little doubt that Pawn Stars is its retail equivalent, a place where each week viewers get a chance to see the odd, the interesting and the way business really works. With the economy the way it is — driven into the […]

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Foreclosure Activity Falls in 2011 — For Wrong Reasons
By September 15, 2011 1 Comments Read More →

Foreclosure Activity Falls in 2011 — For Wrong Reasons

Foreclosure activity continues to fall when compared with 2010, but the problem is the same as it has been for nearly a year: There are fewer foreclosures because actions against homeowners have stalled. In other words, we don’t have fewer foreclosures because the economy is improving, employment levels are materially rising or household incomes are […]

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American Chopper: Why Foreclosure Had To Happen
By September 13, 2011 14 Comments Read More →

American Chopper: Why Foreclosure Had To Happen

Like millions of property owners, Orange County Choppers has felt the sting of foreclosure and could be moving to smaller quarters. It’s a “business decision” says the senior Paul Teutel, speaking on the downsizing episode of the American Chopper TV series. You could see this coming for much of the past year. In November 2010, […]

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New FHA, VA and Conventional Mortgage Loan Limits
By September 12, 2011 0 Comments Read More →

New FHA, VA and Conventional Mortgage Loan Limits

As of October 1, 2011 new and lower mortgage loan limits will be here unless Congress unites and stops the planned changes. Since Congress unites over very few things borrowers are likely to find bright and new loan limits as of Oct. 1st. Note: This material is now out of date. Please go to: FHA […]

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9/11 — How We’ve Changed In A Decade
By September 11, 2011 1 Comments Read More →

9/11 — How We’ve Changed In A Decade

Has it been ten years already? Much has changed since the terrorist destruction of the Twin Towers, an awful event which has produced awful consequences. If the attack was designed to reduce the US presence in Muslim states it surely back-fired. A decade later the US continues to have massive military forces in Iraq and […]

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Why Foreclosure Buybacks Are Wrong

Why Foreclosure Buybacks Are Wrong

In Detroit they’ve found a “solution” to the foreclosure crisis: Don’t pay your mortgage, don’t pay your taxes, allow the property to be foreclosed, and then buy it back at the tax sale. The Detroit News reports that in the past year “about 200 of nearly 3,700 Detroit properties sold at auction last year that […]

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Labor Day: Does America Need A Second Bill of Rights?

Labor Day: Does America Need A Second Bill of Rights?

For large numbers of Americans the economic situation today is worse than at any time since the Great Depression. Unemployment is high and benefits are disappearing. Income is 5 percent less than in 1999. The traditional storehouses of wealth and financial security have eroded as home values have fallen and pension savings pay little more […]

Posted in: Jobs, News
Bulletin: 5-Year ARM Mortgage Hits Record 2.96 Percent

Bulletin: 5-Year ARM Mortgage Hits Record 2.96 Percent

The five-year ARM has hit an all-time record. Having fallen for the eighth consecutive week it now stands at 2.96 percent, according to Freddie Mac. The idea that ARM rates across the country would fall below 3 percent is stunning, proof that the country is awash in capital that essentially has nowhere to go. While […]

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