Archives for the 'Programs' Category
CONFORMING LOAN LIMITS GOING UP UP UP…HOPEFULLY
The US Congress passed a stimulus package. We all need stimulation right now.
Regarding the mortgage industry, one item stands out. If the President signs the bill, there is a good possiblity that the conforming loan limits will increase.
It is estimated that conforming loan limits for 1 unit properties will go from the current $417,000 to (an [...]
REFINANCING YOUR MORTGAGE(S)…NOT SO EASY
About this time, just around the holidays, many people look to re-finance their mortgage. Or both of their mortgages. Sometimes to get some extra money for gifts, and sometimes to pay off credit cards.
It has been common, when buying a home and putting down less than a 20% down payment, to use a 2nd mortgage. [...]
The Cure For The Foreclosure Epidemic: Part 3–The Room
The real emotions of buying a home begin with The Room.
The room, as I call it, is the place where you, the borrower of a loan, and the loan officer, the person who is assisting you in getting the loan, meet. By place I should almost say space, but really, it is how you meet the [...]
I Was Kidding About The 100-Year Mortgage
In a previous post, I made reference to a “new” 100-year mortgage. Was just kidding to make a point.
Turns out, I may not be that far off. Read this article about 100-year mortgages coming to Wales. And Japan already has 150-year mortgages.
One of those be careful for what you wish for ideas………
Tony Soprano, Foreclosures, and the ‘Da Dum’
You know how pieces of music resolve, bring closure to the end? Kind of with (and you have to hear this in your head) a ‘da dum?
The Sopranos final episode had no ‘da dum’. At least not the way most people wanted. No clean tied-up ends, no resolutions, but a lot of wondering. Many people [...]
Foreclosure Fingerpointing Game
I have never been a fan of fingerpointing. Usually the one who is doing the most fingerpointing is the one who probably should be looking in the ‘responsibility’ mirror.
This article demonstrates how ridiculous the fingerpointing has become regarding the subprime and foreclosure chaos.
There is plenty of blame to go around: banks (lenders) who offer crazy, [...]
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