The real estate market is down, and staying down. Some would say it’s “down for the count”.
Foreclosures are up, way up. There doesn’t appear to an end in sight.
Mortgage companies and now banks are going belly up, and those that aren’t are barely scraping by. Sub-prime funding for homeowners in trouble has […]
Is Your ARM Broken…Or Is Your ARM Making You Broke? Since the Federal Reserve recently stopped it’s three year crusade to increase the Prime Rate every six weeks, most people with adjustable rate mortgages (ARMs) expected their already high rate to stabilize. Unfortunately, it takes up to 18 months for the indicators linked to some […]
Some Reservations at The Federal Reserve
Almost all major financial analysts are predicting that the Federal Reserve, under Ben Bernanke’s direction, will leave the Fed rate of 5.25% untouched at their meeting today. Now, with the recent reports indicating a downturn in sales of durable goods, plus the continuing drop in new housing starts and home […]
Here’s some more info about where interest rates are headed, and its not good. Even the head of a group that critiques the Federal reserve’s policies thinks rate increases are still coming in the weeks ahead. So if you’re buying a new home or refinancing your current home (especially if you have an ARM), now […]
Well, the latest statements from Ben Bernanke and the Federal Reserve indicate that interest rates are going to continue to be pushed up by the Fed’s ongoing program of bumping the prime rate. Stock prices were down again as Mr. Bernanke said that the economy was in a state of “transition”, and that the Fed was committed […]
Is an Adjustable Rate Mortgage Your Best Deal?
If you’re looking for a mortgage, what kind do you need. There are hundreds of different programs out there, and you probably don’t want or need to become an expert on all types of mortgages. You just need to hire a licensed professional you can trust to find the […]
The answer to this question is…every time! Unless, of course you have perfect credit, low debt and high income, and a close personal relationship with the branch President at your bank. Then (maybe) they’ll be able to get you better rates and terms than a Licensed Mortgage broker. But you’re still limited to the loan […]
Top 10 Reasons to Buy Your Own Home and Quit Renting
10. You’re paying off your landlord’s property. Every time you make a rent payment, your landlord uses some part of that to pay off the mortgage on the home you’re renting…AND KEEPS THE REST!
9. For most people, their biggest retirement savings is the value in […]