Unless you have been asleep or not paying attention to the news today, you have undoubtedly heard about Lehman, Bank of America (B of A), Merrill and AIG. With the news sending the DJIA down over 500 points today, traders are comparing the move to Black Monday of 1987, dubbing this as Black Sunda
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09/15/2008
Many have inquired about my take on the government's takeover of Fannie Mae and Freddie Mac, even some in the media. I had been sitting be the wayside, actually taking care of business, and had set the issue on the back burner, until now. Just why in the heck did the government take over Freddie
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09/12/2008
I was honored when Jeff Belonger asked me to write this week's Mortgage Pro Week in Review (Sept. 1-7, 2008). With the week selected drawing to a close, the biggest news to hit the airwaves was released as Fannie Mae and Freddie Mac were essentially taken over by the government, a move long time
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09/08/2008
Hopefully, you have not learned this rule the hard way. The bottom line is whenever you make any financial decisions allowing your emotions to enter into those decisions, you will lose money, and usually lots of it. I know that all of you are likely emotional about your finances. Those of you
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08/25/2008
Many of you probably remember my post over a year ago asking who would like to meet me when I came through their town. Well, I am in need of updating that list since many are no longer in business. I am generally limited to where I travel within the United States, but this time I also want to h
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07/29/2008
All that is left to implement the new Foreclosure Prevention Act of 2008, aka The Housing and Economic Recovery Act of 2008, is for President Bush to sign it, and since he rescinded his veto threat, that is pretty much a guarantee that this government intervention that is full of little "pieces
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07/27/2008
As expected, the House gave the go ahead for the passage of their bailout package now that President Bush rescinded his veto threat. Now, all we need to complete the insanity is the approval of the Senate, which shouldn't be much longer down the road. The vote was 272-152. The bill includes suc
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07/23/2008
This is one of the things promised back in December from the Federal Reserve that will likely be harmful to the consumer even though the government doesn't believe that statement. So, let's look at the highlights. The final rule adds four key protections for a newly defined category of "higher-
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07/14/2008
I was reading an interesting article from Agora Financial which is spelled out in their "Rude Awakening". One part caught my eye as they discussed what is currently taking place in the dual FM liquidity crisis, as presented by Dan Denning, editor of the Australian Daily Reckoning. Dan talks abou
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07/14/2008
I don't normally throw out advertising in this blog, but I wanted to get this news out... In the next month or so, I am going to finish a book on how the economy affects mortgages rates. I believe every mortgage professional, and any other professional in the industry who wants to show added val
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06/07/2008
