Melanie's Blog

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Mortgage and Lending - Universal Mortgage Mart, LLC

ARCHIVED BLOG POSTS

2008 

If the results of the latest Associated Press-AOL Money & Finance poll are any indication, prospective home buyers will be keeping their wallets closed and remain on the fence at least until the latest economic downturn blows over. And that could be years down the road.A majority of those polled ...
04/30/2008
In a statement delivered before the Committee on Financial Services of the U.S. House of Representatives earlier this week, John M. Reich, Director of the Office of Thrift Supervision (OTS), offered an alternative foreclosure prevention plan to the one under consideration from the Federal Housing...
04/30/2008
In desperate times people resort to desperate measures. Facing foreclosure, some homeowners are setting fire to their homes for the insurance money. But they usually end up with a criminal conviction instead of cash.Consider the following:In South Carolina, a homeowner was charged with burning he...
04/30/2008
At present it does not appear that there is enough evidence yet to declare that a market comeback is in the offing. The bottom line is that no one can say anything with 100 percent certainty given the current state of our national economy.Even the National Association of Realtors, which has come ...
04/30/2008
The only kind of whopper a person with this kind of ‘BK' is going to get is a whopper of a headache. In this, the legal sense for the abbreviation, we're talking about BANKRUPTCY. And for struggling homeowners it often represents what they think is the last stand they can take before losing their...
04/30/2008
While foreclosure activity in the first quarter of 2008 was up on a year-over-year basis in 90 percent of the nation's 100 largest metropolitan areas, according to the RealtyTrac Q1 report issued today, there were a few notable exceptions that could prove to be a harbinger of hope for the nation'...
04/30/2008
The downward spiral that has sent this nation's real estate market reeling out of control is far from over yet. For all the election year rhetoric flying around these days about the general state of the national economy, although the situation is not all doom and gloom, the news does not look as ...
04/30/2008
Early this month the PMI companies decided to discontinue insuring reduced documentation loans. These loans were commonly referred to as Stated Income and/or Stated Assets. As a result many lenders withdrew these programs from their product lines. Un-insured loans on a reduced documentation basis...
04/30/2008
A declining market has become a subject we have mentioned over the past year quite frequently. The overall economy plays an important role. But, even when the economy was thriving there still were markets that declined in value.  I am also going to discuss my opinions on what I feel about the ind...
04/30/2008
The United States  Department of Agriculture has been offering loans for quite some time. Many area's are approved to use this type of financing. This loan works simular to FHA or VA as far as qualifying. However, you are subject to income restrictions and geographical area's. Not all area's are ...
04/30/2008
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Melanie Rogers

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