Archive for Peter G. Miller
RealtyTrac: Foreclosure Activity Slumps 14% — But Rise Likely In 2012
Foreclosure filings in November fell 14% when compared with last year according to the latest Realtytrac survey. Foreclosure filings include default notices, scheduled auctions and bank repossessions. In total, 224,394 homes received foreclosure filings. The filing decline may seem like good news and surely it’s a welcome relief for many families, however behind the lower [...]
15Dec2011 | Peter G. Miller | 0 comments | Continued
Why Trump Is Wrong On Mortgages
Donold Trump — a possible candidate for President — thinks mortgages are tough to get, maybe impossible. “If somebody wants to buy a house,” he told CNN’s Piers Morgan, “it’s virtually impossible to get the money from a bank. And it’s — even if they have good credit. Even when mortgages are coming due, and [...]
12Dec2011 | Peter G. Miller | 0 comments | Continued
Why FHA Premiums Should Not Be Raised
Will the FHA loan program raise its insurance premium for new borrowers? At first it might seem as though higher premiums are in order given that the FHA reserve fund — the Mutual Mortgage Insurance Fund or MMI — is well below the 2 percent required reserve. While that may be true, one must also [...]
5Dec2011 | Peter G. Miller | 0 comments | Continued
American Chopper Vs. Jesse James: Who Really Wins?
The stage is set for the most-publicized motorcycle build-off in recent memory. The two-night battle to be shown live from the Hard Rock Cafe in Las Vegas will feature three well-televised bike builders, Paul Teutul Sr. with Orange County Chopper, Paul Teutul, Jr. from PJD designs and Jessie James, the once-host of Discovery’s Monster Garage [...]
28Nov2011 | Peter G. Miller | 19 comments | Continued
FHA Loan Limits Rise, Conventional & VA Mortgage Limits Stick
It didn’t take long for the lower mortgage limits that began October 1st to be changed. As of November 18th the mortgage rate limits were selectively revised with FHA loan limits increasing but with conventional loan limits staying the same. Does this change make a lot of sense? No. Is this change the law of [...]
25Nov2011 | Peter G. Miller | 0 comments | Continued
Will The FHA Go Bankrupt?
A new study says the FHA is likely to need a $50 billion bailout and perhaps as much as $100 billion. But is the FHA really in trouble? And if so, why? The paper, written by Joseph Gyourko, a professor of real estate and finance at the Wharton School of Business at the University of [...]
16Nov2011 | Peter G. Miller | 3 comments | Continued
Veterans Day — Let’s Bring Back The Draft
It’s Veterans Day, a deserved recognition of the work done and the danger faced by those with military service. There will be parades and speeches, but few will get to the essential point: We need to bring back the draft. Today we have a nation of 312 million people. Of this number, 1.4 million are [...]
11Nov2011 | Peter G. Miller | 3 comments | Continued
October Foreclosure Activity Down 31 percent, Says RealtyTrac
Foreclosure activity remains hounded by robo-signing disputes. The result is that October foreclosure filings were down 31 percent when compared with a year ago according to RealtyTrac, the leading online marketplace for foreclosures. The company said that foreclosure filings for October — default notices, scheduled auctions and bank repossessions – were reported on 230,678 U.S. properties in October, [...]
10Nov2011 | Peter G. Miller | 0 comments | Continued
Who Pays Foreclosure Property Taxes?
When you purchase a foreclosed property, are you responsible for back taxes? The general answer largely depends on when you buy the property. “If the property was foreclosed and possessed by the bank, the bank will have to pay the back taxes to sell the property with clear title,” says RealtyTrac spokesman Daren Blomquist. “However, [...]
8Nov2011 | Peter G. Miller | 0 comments | Continued
American Chopper — Foreclosure Vs. No Foreclosure
So which is it: Was the Orange County Chopper world headquarters foreclosed or not? The answer as derived from the American Chopper TV show and public information is very simple: Both. Let’s start with foreclosure. It’s plain that a foreclosure action was initiated by the lender, the GE Commercial Finance Business Property Corp. The matter [...]
7Nov2011 | Peter G. Miller | Comments Off | Continued
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