All Posts Tagged With: "credit"
Standard & Poors Drops US Credit Rating
The credit rating of the United States of America has been reduced from AAA to AA+ by the Standard & Poors rating agency. In an historic development the willingness of the United States government to fulfill financial obligations has been called into question by a major ratings agency due to “political risks” and a “rising [...]
5Aug2011 | Peter G. Miller | 0 comments | Continued
Is it good not to pay your mortgage loan?
Is it a good thing if you don’t pay your mortgage? The usual answer is a fat “no” after which comes a discussion of foreclosures, diving credit scores, ugly credit reports, deficiency judgments, loan denials and higher interest costs for mortgage loans and automobile financing. And yet there’s a strange and somewhat logical theory floating [...]
25May2011 | Peter G. Miller | 1 comment | Continued
Can We Predict Mortgage Loan Walk-Aways?
It’s generally estimated that about a third of all mortgage foreclosures are simply voluntary, people who can afford their monthly payments but throw in the financial towel and make a strategic decision to walk away from their homes and loans. Now a new system says it can predict who will walk and who will stay. [...]
25Apr2011 | Peter G. Miller | 0 comments | Continued
Time Winding Down for First-Time Military Borrowers To Get Tax Credits
The government’s landmark tax credit program for first-time home buyers is starting to drift back in focus again as tax day approaches. The unique $8,000 credit for new buyers and $6,500 credit for existing homeowners helped inject stability into the slumping housing market during 2010. Consumers and some industry observers have pushed for a renewal [...]
3Mar2011 | Chris Birk | 0 comments | Continued
US home values fall $9 trillion since 2006, says Zillow
American real estate, a traditional bastion of household wealth for the middle class, has lost $9 trillion in equity since 2006 according to the real estate marketing site Zillow.com. Zillow reports that US homeowners lost $1 trillion in 2009 and it expects that losses will total $1.7 trillion in 2010. Specifically, Zillow estimates that values [...]
9Dec2010 | Peter G. Miller | 0 comments | Continued
1 Million First-Time Home Buyers To Owe IRS
More than a million first-time home buyers are likely to get unfriendly letters from the IRS, brief little notices from Uncle Sam which say we want our money back. A report by the Treasury Department’s Inspector General for Tax Administration shows that nearly 1.8 million taxpayers filed claims under the government’s First-time Homebuyer Tax Credit [...]
15Sep2010 | Peter G. Miller | 0 comments | Continued
Credit & Underwriting Standards Tighten for VA Borrowers
VA loans have weathered the foreclosure crisis better than their major lending counterparts. But they certainly haven Technorati Tags: credit, credit score, loan, mortgage, Notice of Value, NOV, underwriting, VA
26Jul2010 | Chris Birk | 0 comments | Continued
First-Time Home Buyer Credit Still On For Vets
While the tax credit for first-time home buyers and sellers largely ended in April, the credit actually continues for active-duty military personnel until April 30, 2011, something that could be important for VA loan borrowers and veteran sellers. The $8,000 tax credit (along with its $6,500 companion credit for existing homeowners) spurred an uptick in [...]
3Jun2010 | Chris Birk | 1 comment | Continued
Stock Prices At Heart Of Mortgage Crash
A new and revealing study by the Mortgage Bankers Association argues that the introduction of risky loan products during the past few years was caused in large measure by efforts to pump up lender stock prices. Written by Clifford V. Rossi, a business professor at the University of Maryland, Anatomy of Risk Management Practices in [...]
27May2010 | Peter G. Miller | 0 comments | Continued
What’s a Hard Money Mortgage?
When we think of mortgages we usually think of long-term financing insured by the FHA, VA or with private mortgage insurance. If we have enough cash for a down payment of at least 20 percent then we don’t need mortgage insurance and can just get a conventional loan. However, there are situations where owners run [...]
12May2010 | Peter G. Miller | 0 comments | Continued
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