Tag Archives: Loan

New Helpful Legislation – More Details on New Foreclosure Law

Written by: - April 9, 2009

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New Helpful Legislation – More Details on New Foreclosure Law

It’s good to hear that the government wheels are turning & finally churning out legislation to help those that they were elected to serve. On Sunday, April 5th, the Illinois State Senate passed and Governor Pat Quinn signed into law Senate Bill 2513.

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Seriously Delinquent Subprime Loans On the Rise – Data Supports Gov’t Plan

Written by: - April 3, 2009

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Seriously Delinquent Subprime Loans On the Rise – Data Supports Gov’t Plan

The Wall Street Journal is reporting two important conclusions based on data from the Office of Comptroller of the Currency and the Office of Thrift Supervision: Seriously Delinquent Subprime Loans Rise from 10.75% to 16.4% The report found that the number of seriously delinquent subprimes loans is on the rise. This means that more and […]

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Rates Are Down, But Loans Still Hard To Get

Written by: - March 23, 2009

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Rates Are Down, But Loans Still Hard To Get

Being someone who deals with dozens of banks and lenders daily, I can emphatically state that the banks have not been loosening up the purse strings. They take the money, and extend credit to only the most-well qualified, who likely aren?t feeling the brunt of the recession anyhow.

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11 Tax Tips for Homeowners and Buyers

Written by: - March 16, 2009

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11 Tax Tips for Homeowners and Buyers

Tax season is looming and homeowners everywhere should know the opportunities available to them for tax breaks and incentives. This info is also valuable for potential home buyers so they are aware of what expenses are deductible and the ins and outs of new tax laws, since there are so many nowadays!  Thanks President Obama! […]

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What Causes Mortgage Rates to Move?

Written by: - March 9, 2009

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What Causes Mortgage Rates to Move?

Mortgage bonds, like stocks, and just about everything else in a free-market society, work on supply and demand. When demand goes up, so do prices. And when prices on mortgage bonds go up, rates go down.

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Mortgages at 4% More Myth than Reality

Written by: - February 6, 2009

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Mortgages at 4% More Myth than Reality

Maybe you may have heard all the buzz about Republicans wanting a 4% fixed mortgage rate for mortgages. Let’s take a look at it a little more closely. It’s a HUGE undertaking that will be wildly expensive, and hard to implement, despite what the idea’s proponants are saying. And, you still need Wall Street’s buy-in.

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Why You Might Not Be Able to Get a 5% Mortgage

Written by: - February 5, 2009

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Why You Might Not Be Able to Get a 5% Mortgage

Reaching for 5 Percent Government loan giants Fannie Mae and Freddie Mac, as well as the Federal Housing Authority (FHA), a division of the Dept. of House and Urban Development (HUD), have been slowly, but surely, tightening up guidelines, and making it more difficult for all but the very most qualified borrowers to get the […]

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