Blog Catalog Blog Directory

Chickens coming home to roost. Democrats play. Republicans pay.

Fri, 10 Oct 2008 05:14:34 -0500

It is interesting to note that the largest financial calamities in history have happenend on the Republicans watch. What Republicans failed to realized is: unlike Democrats, if you pretend to believe one thing while doing another, you will fall, fa

Help for troubled California homeowners

Thu, 09 Oct 2008 21:45:00 -0500

Are you a candidate for a loan modification? Are you currently behind in your mortgage payment? Has your mortgage payment increased or will it soon be increased? Has a notice of default been filed on your home? Are you facing a personal hardship?

This recession is crashing U.S dollar

Thu, 09 Oct 2008 19:45:18 -0500

For 37 years we have been delaying the collapse of the dollar and as the risk rose, we worked harder and harder to avoid economic downturns that would cause foreign lenders to fear we are too great a risk for our debt. We fear consumers going from sp

When they say "national banks," they mean it!

Thu, 09 Oct 2008 07:19:00 -0500

So, the latest rescue plan for the economy is that the government may directly inject capital into banks in exchange for an equity stake in the bank. Wow. Now that's a recapitalization.I guess Bank X better not consider having any lavish retreats.

More on today's interest rate decrease

Wed, 08 Oct 2008 04:03:18 -0500

Just received this email from Dan Klebesadel, a great Los Angeles mortgage lender. "In what is viewed as an "emergency" move, the Fed funds rate was cut 0.50% in a coordinated effort with other central banks in Europe. We have seen such changes in j

Will the Fed interest rate cut impact your home loan?

Wed, 08 Oct 2008 02:13:57 -0500

I had to ask if this FED rate decrease would positively impact our client (the short answer appears to be "no") but if you are in the midst of a loan, you may want to ask your lender today and if the answer is "no" ask again in the next several days.

Credit Crisis Concerns?

Tue, 07 Oct 2008 16:43:32 -0500

Catch any changes to your credit by checking all 3 FICO scores and credit reports It can be harder to get loans these days, even if you have a great FICO score. Over 90% of lenders use FICO credit scores, among other factors, to determine your cred

HUD Releases HOPE for Homeowners Program Details‏

Tue, 07 Oct 2008 13:19:23 -0500

HUD has just released details on its FHA HOPE for Homeowners program. You can access them by clicking here. Here is the text of HUD’s Fact Sheet on the program: FACT SHEET: HOPE FOR HOMEOWNERS TO PROVIDE ADDITIONAL MORTGAGE ASSISTANCE TO

Thriving during Financial Crisis

Tue, 07 Oct 2008 12:05:06 -0500

The world economy is heading for a financial crisis; however, your business doesn’t have to suffer during these hard times. Some businesses thrive during a financial crisis while others slowly wilt away. Believe me, your business can thrive too, bu

Random Tuesday thoughts - bailout, banks, capital gains and loans

Tue, 07 Oct 2008 08:39:00 -0500

I'll probably write about the news later. For you sky-fallers, I can't really jump out a window because (a) I don't want to and (b) I'm writing from a basement.Why commentary instead of news? There's a few things on my mind and thoughts I want to

Investment Properties Purchased Subject-To

Sat, 04 Oct 2008 23:05:37 -0500

Myths and truths of buying investment property subject to an existing mortgage One of the things that disturbs me about our Real Estate industry is the amount of inaccurate or incomplete information attainable to investors. Some myths block what oth

The Bail-Out – Who’s Being Bailed Out & Who’s Bailing Out!?!

Sat, 04 Oct 2008 13:01:12 -0500

Update: This article was written several days ago and Congress has since passed the now $850B Bail-Out Bill. So which is it? Last evening, 10/1/08, the US Senate voted to approve a new version of the $700B Bail-Out bill for Wall Street. I’m not im

Emergency Economic Stablization Act aka Bail Out

Sat, 04 Oct 2008 03:38:37 -0500

Received this email Friday evening from the California Association of Realtors: “Earlier today, the U.S. House of Representatives approved the Emergency Economic Stabilization Act by a 263 to 171 vote. ….. Here’s what the legislation does: H

Bailout or No Bailout, Expect Manic Mortgage Rates

Thu, 02 Oct 2008 14:19:09 -0500

Mortgage rates, which had enjoyed a sustained downtrend through mid-September, rose for the second consecutive week, as of October 2, 2008. This rise was despite the fact that the mortgage bailout bill seemed to have edged a step closer to passage by

Mortgages Still Being Approved For Unqualified Borrowers

Thu, 02 Oct 2008 01:16:15 -0500

With foreclosures at record highs and the banking system in collapse, why would the banks still in business be making loans with reckless disregard to the borrower’s ability to repay? As explained in my post “Unsound Lending Policy“

Higher Education and the Struggling Economy

Wed, 01 Oct 2008 15:52:28 -0500

With the prospect of borrowing problems, how do you finance college? By Mike Lazear: PIC Current Assistant Producer As millions of undergraduates and graduate students returned to school this fall, a shadow hung over the economy. Now, with things l

$700B Bailout: Letter to Senators

Tue, 30 Sep 2008 21:45:46 -0500

Senator , Please do not vote for the BailOut. If this year continues as it has, it will be the first year in over twenty that my net worth declined. However, if the BailOut bill is passed, next year will be the first year in my life that I have lived

Jax Is Looking to Refinance An Has Some Questions

Tue, 30 Sep 2008 20:31:15 -0500

Jax wrote to me through the GetOutOfDebt.org site and asked the question below. If you have a get out of debt question you’d like to ask, just visit GetOutOfDebt.org . “Dear Steve, I need to refinance my home in Oct of 2009. My credit sco

What Happens Now? Bailout Failed, Dow Starts To Recover

Tue, 30 Sep 2008 19:40:49 -0500

Now that the original bailout of the many companies that, admittedly, brought it on themselves has failed, what is next? That’s a little bit up in the air at the moment. Gas prices are falling which is good news. Wall Street came back today wit

Jax Is Looking to Refinance An Has Some Questions

Tue, 30 Sep 2008 19:31:15 -0500

Jax wrote to me through the GetOutOfDebt.org site and asked the question below. If you have a get out of debt question you’d like to ask, just visit GetOutOfDebt.org. “Dear Steve, I need to refinance my home in Oct of 2009. My…