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The Mortgage Rebel
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The Mortgage Rebel arms you, the mortgage consumer, with the insider information you need to protect yourself from ploys, gimmicks, tricks and schemes used every day by bank and mortgage company loan officers. This information could easily save you thousa
Recent Posts Tagged With 'debt'
Home Sales Sink, Prices Expected To Plummet in ‘08
The National Association of Realtors reported today that pending sales of existing homes fell once again in November to a level even worse than the reading recorded in September 2001, the month when t...
Home Prices Plummet, Retail Sales Disappoint
In the latest report on the housing market, Standard & Poor’s Case-Shiller home price index showed a record drop in October home prices when compared to price levels a year before. Read ...
Mortgages Getting More Expensive
Thanks in large part to the sub-prime mortgage mess, the cost of obtaining a new mortgage for “prime” customers — those who have good credit, and verifiable employment, income and ...
Awaiting The Post-Holiday Economic Train Wreck
With six shopping days left before Christmas, retailers are holding their collective breath in anticipation of a last-minute buying binge. One thing is for sure: This Christmas will not be on the hou...
Thinking of Buying A Home Soon? Don’t, Unless..
…You’re willing to watch your equity (down payment) evaporate over the next few years. It’s like buying a car — it is certain to depreciate the minute you drive off the lot. ...
A $9.13 (& Counting) Trillion Time Bomb
Tick, tick, tick. The bomb you hear ticking in the background is the ever-growing mountain of Uncle Sam’s debt, increasing at the steady pace of $1 million per minute, or $1.4 billion per day....
Fed Cuts Discount Rate 1/4% - Still Sees Inflation Threat
In yet another attempt to save the U.S. economy from further pain, the U.S. Federal Reserve lowered its key overnight lending rate by 1/4 percent, acknowledging a slowing economy, while at the same ti...
Mortgage Meltdown 2007: Update
More fallout from the nation’s housing crisis emerged Monday. Despite a modest increase in the pace of home sales for October as reported by the National Association of Realtors, overall, th...
U.S. Credit Card Debt Accelerating, Fed Reports
The Federal Reserve reported Friday that consumer credit increased at an annual rate of 2.3 percent in October, faster than the 1.6 percent growth rate for September. The gain reflected an accelerat...
President Unveils Sub-Prime Plan
President Bush this afternoon announced a long-awaited initiative to help distressed sub-prime mortgage borrowers. The Bush administration has been working with the private sector, including investo...
Foreclosures At Record High
The Mortgage Bankers Association reports this morning that foreclosures reached a record high during the third quarter, while delinquencies on home mortgages are at their highest level since 1986. In ...
Home Prices: Biggest Drop In 25 Years
In the latest reading of the pulse of the U.S. housing market, Freddie Mac released a report today showing the biggest quarterly drop in national home prices in 25 years during the third quarter of 20...
Treasury’s Paulson: Sub-Prime Deal Near
U.S. Treasury Secretary Henry Paulson said this morning that a plan to freeze so-called “sub-prime teaser rates” is at hand and details could be released as early as this week. Read Full...
Wall Street: Blind, Deaf & Dumber Than A Box Of Rocks
Looking at this past week’s stock market data — particularly the Dow, with a 3 percent weekly gain — you might think we were flooded with great economic news portending a resoundi...
How Oil Could Crush The World
Headline: “Gas prices hit working class: Study says lower income people effectively pay 8 times more to fill up; broader economy could feel sting.” Read Full Article Earlier this year, ...
Treasury Secretary Seeks Sweeping Loan Help
In an interview with the Wall Street Journal published on Wednesday, Treasury Secretary Henry Paulson said he was “aggressively encouraging” the mortgage industry to develop agressive pr...
Home Prices Continue to Slump
Today, the National Association of Realtors reported that home prices fell in one third of U.S. cities last quarter, sliding 2 percent nationwide. The pace of sales also dropped 14 percent nationwid...
Give Thanks Tomorrow - Tough Times Still Ahead
At the end of the business day on the eve of Thanksgiving in the U. S., there were more sobering signs of tough times ahead. America will pause tomorrow to give thanks for its many blessings, and ...
How Oil Could Crush The World
Headline: “Gas prices hit working class: Study says lower income people effectively pay 8 times more to fill up; broader economy could feel sting.” Read Full Article Earlier this year, wo...
A $915 Billion Time Bomb: U.S. Credit Card Debt
As if the mortgage meltdown, a stagnant real estate market and declining home values, swooning consumer confidence and spending, spiraling oil prices, the declining value of the dollar, a $9 trillion ...