Archive for Peter G. Miller
American Chopper: Is The Best Yet To Come?
American Chopper is back but will it re-capture the magic? When last we saw the Teutuls they were in a three-way live bike build-off with reality star Jesse James. The results after great fanfare and lots of speculation looked like this: Paul Jr. and PJD Designs took first place with a bike fashioned after a [...]
13Feb2012 | Peter G. Miller | 0 comments | Continued
Why Obama Should Favor Mortgage Appraisals
President Obama inherited the worst financial crisis since Hoover and the Great Depression. It follows that getting the country back on track is no easy task and while his new housing plan includes much to support it also includes a provision to dump appraisals when they are most needed. Dump is really the right word. Fannie [...]
6Feb2012 | Peter G. Miller | 2 comments | Continued
Caution: Refinancing with Low Mortgage Rates May Not Work
I got a letter from my mortgage lender offering to refinance my home. I could lower my rate, said the letter, and I might save money. Actually, both claims are correct but the bigger issue is whether refinancing is actually worthwhile. According to the letter my mortgage rate would drop from 4.63 percent to 4.46 [...]
30Jan2012 | Peter G. Miller | 0 comments | Continued
1 in 5 Home Sales Distressed, Foreclosed or Bank Owned, Says RealtyTrac
For the third quarter of 2011 RealtyTrac reports that 20 percent of all existing home sales were bank owned or being foreclosed. This is down from 30 percent of all sales in the third quarter of 2010. The latest RealtyTrac figures might be seen as good news were it not for the glum reality which makes [...]
26Jan2012 | Peter G. Miller | 0 comments | Continued
Should Mortgage Robo-Signers Go To Jail?
John O’Brien is a Register of Deeds based in Salem, Massachusetts. Instead of burning witches, O’Brien believes we should investigate the people who created the notes and documents that have now destabilized the entire property records system. He also believes those who are guilty of criminal conduct should go to jail and not merely face [...]
23Jan2012 | Peter G. Miller | 1 comment | Continued
Do FHA Mortgage Borrowers Still Face Credit Score Layering?
More that a year has passed since HUD announced that it would investigate 22 lenders. The issue? Layering, the addition of requirements on top of FHA standards. “The investigations,” said HUD, “are in response to 22 complaints the National Community Reinvestment Coalition (NCRC) filed with HUD alleging that the loan activities of the mortgage originators [...]
16Jan2012 | Peter G. Miller | 0 comments | Continued
Foreclosure Filings Off Nearly 30%, RealtyTrac
On paper at least foreclosure filings fell nearly 30 percent in 2011 according to year-end figures from RealtyTrac, the nation’s leading source of foreclosure listings and data. But the new numbers tell only part of the story. What they really demonstrate is that millions of homes remain distressed and that the foreclosure process itself continues [...]
12Jan2012 | Peter G. Miller | 0 comments | Continued
American Chopper’s Paul Sr. To Join Trump’s Celebrity Apprentice
American Chopper’s Paul Teutul, Sr. will join the 2012 cast of Donald Trump’s Celebrity Apprentice, according to an announcement from NBC Entertainment. This, as the expression goes, should be interesting. Teutul is likely to be a strong competitor because — whether a fan or not — he’s an actual, real-life entrepreneur, someone who started with [...]
9Jan2012 | Peter G. Miller | 2 comments | Continued
FHA Mortgage Insurance Premium To Rise In 2012
Borrowers will pay more to get an FHA loan in 2012. The much-heralded payroll tax cut worked out by Congress will also raise the cost of an FHA mortgage by at least .2 percent and probably more in 2012. Think of it as a back-door tax increase. While the public was watching the payroll debate [...]
3Jan2012 | Peter G. Miller | 5 comments | Continued
Happy New Year: Corporate Profits Up, Taxes Down
If you’re looking for hard economic news, this year-end mindbender from the Bureau of Economic Analysis ought to do the trick: corporate profits surged in the third quarter while corporate taxes fell. And more hard news: on average folks who work in financial services make 52 percent more than you do. “Corporate profits with inventory [...]
27Dec2011 | Peter G. Miller | 0 comments | Continued
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