All Posts Tagged With: "income"
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
Guess What? Social Security Has A Profit
You’ve probably heard that Social Security is going broke, not good news for most of those with hopes of a sane and fiscally-secure retirement. The reality is that for most households Social Security is a central source of retirement funding, especially as more employers have moved from defined benefit plans to defined contribution plans. But, [...]
20Oct2011 | Peter G. Miller | 0 comments | Continued
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 [...]
5Sep2011 | Peter G. Miller | 0 comments | Continued
Is the government holding down mortgage interest rates?
One way to re-start the housing sector and thus a big part of the American economy would be to assure that mortgage quotes were as low as possible. And given that banks today can borrow money at pretty close to zero, is the government now forcing down mortgage rates to 5 percent or less? The [...]
23May2011 | Peter G. Miller | 0 comments | Continued
Good To Be Rich, Millionaire Wealth To Double In Next Decade
Millionaires are going to do pretty well in the next decade. According to a report from the Deloitte Center for Financial Services, the total wealth of millionaire households in 25 major economies is likely to grow from $92 trillion in 2011 to $202 trillion in 2020. The fate of millionaires, of course, is a major [...]
16May2011 | Peter G. Miller | 0 comments | Continued
How VA’s Residual Income Factor Keeps Vets Out of Foreclosure
There are multiple reasons why VA loans continue to have the lowest rate of foreclosure of any major lending program. Residual income is a big one. This is a unique credit and underwriting guideline that applies only to VA loans. At the outset, it’s important to differentiate residual income from a debt-to-income ratio. Unlike conventional [...]
12Apr2011 | Chris Birk | 0 comments | Continued
How long must I hold a job to get an FHA mortgage?
With so much turmoil in the workplace — and so much demand for FHA loans — is it possible to get an FHA mortgage if you’ve had frequent job changes or even unemployment? The answer is “yes” and this should be good news to a lot of people in a changing work environment. HUD guidelines [...]
20Jan2011 | Peter G. Miller | 0 comments | Continued
Mortgage Modification or Refinance — What’s The Difference?
Is it better to modify a mortgage or to refinance? While both result in new loan terms, the two choices are very different. When you refinance a mortgage you replace an existing loan with a new one. There’s no need to negotiate with the old lender because his mortgage claim will be extinguished. However, borrowers [...]
25May2010 | Peter G. Miller | 0 comments | Continued
Harris Poll: 27,000,000 Borrowers Think They’re Underwater
A new study from the Harris Poll suggests the extent of the current financial crisis and mortgage meltdown: “Fully 24% of people with mortgages believe they owe more on their mortgages than their homes are worth,” says Harris. “One in nine homeowners (11%) with mortgages report having ‘a great deal of difficulty’ in paying off [...]
13Apr2010 | Peter G. Miller | 0 comments | Continued
What Paperwork Do You Need To Get A Mortgage?
One of the biggest problems with the government’s Making Home Affordable loan modification program is that a large number of borrowers are making their payments but do not provide required paperwork — and thus are unable to permanently refinance their mortgage with a new and lower rate. Because they did not provide required paperwork these [...]
1Feb2010 | Peter G. Miller | 0 comments | Continued
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