All Posts Tagged With: "federal"
Uncle Sam’s $8,000 For First Time Home Buyers
The government is hoping if you don’t now own a home that you’ll make the logical choice and buy one this year. If you do, there’s an $8,000 credit from Uncle Sam available to help you out. Last year the government announced that if you were a first time buyer and bought a home that [...]
21Feb2009 | Peter G. Miller | 0 comments | Continued
Here’s A Fact: Predatory Lending Is Not A Crime
Speaking before big-shot investors on Wall Street last week, assistant Treasury secretary Anthony Ryan said the marketplace needs to be protected against financial predators. “While predation is the law of the jungle in nature, as civilized society, we need to have laws in place to protect investors and consumers,” Ryan told the Securities Industry and [...]
20Sep2008 | Peter G. Miller | 0 comments | Continued
Toxic Loans Threaten Home Values
Stashed away amid the tons of paperwork generated each day in Washington — reading which no one argues is a threat to Shakespeare — is HUD’s 2007 Budget Summary, a document which ought to make a lot of people take notice. “Congress recognizes that today’s high cost loans negatively impact consumers, communities, and the economy. [...]
18Sep2008 | Peter G. Miller | 0 comments | Continued
How do Federal Reserve decisions to raise or lower interest rates impact the mortgage market?
The Federal Reserve controls two important rates: First there is the “federal funds rate– — the interest level banks can charge each other for the use of money overnight. Second, there is the “discount– rate — that’s the cost banks pay to borrow directly from the Fed. In effect, the Fed does not control long-term [...]
9Sep2008 | Peter G. Miller | 0 comments | Continued
Smart Growth Equals More Congestion, Bigger Tax Bills
“Smart Growth” is here, a collection of proposals, guidelines, and goals that will ultimately make homebuying less feasible and commuting more difficult. And that’s the good news. The essential idea behind various “Smart Growth” initiatives is to move zoning decisions from local communities to Washington. This is necessary, it’s alleged, because we have too much [...]
4Sep2008 | Peter G. Miller | 0 comments | Continued
What Can Government Do About Foreclosures?
With flaws in the mortgage marketplace revealed almost daily it comes as no surprise that thoughts about fixing the system have begun to emerge. On Capitol Hill, both Sen. Chris Dodd (D-CT), chairman of the Senate Banking Committee and Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, have begun to drop hints [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
What’s A “Coffee” Mortgage – And Why Do I Want One?
Mortgages generally fall into two camps: Those with fixed rates and those with adjustable rates. Adjustable-rate mortgages (ARMs) typically have an interest rate which is based on two factors. First, there’s a “margin” which does not vary during the term of the loan. Second, there’s an “index” which changes as often as the loan allows, [...]
22Aug2008 | Peter G. Miller | 0 comments | Continued
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