Paul Bozek's Blog

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Mortgage and Lending - American Financial Network - MLO 189572
RECENT BLOG POSTS
As many know, the deadlines are soon approaching and the Tax Credit that are being offered by the government are soon expiring. Many First Time Home Buyers and Move Up/Repeat Buyers can still take advantage of these incentives but there is not much time left. As always, please use this only as a ...
02/24/2010
Link to article Looks like unemployment continues to increase.  I think it will be a slow process and the road to recovery will start with getting TRUE unemployment figures well below 10%.  Currently with 20% out of work, it puts about 30 million Americans that are out of work.  This Gallup surve...
02/23/2010
Link to article We've been extremely lucky with low rates all year.  Last week, we saw a substantial spike in rates followed by somewhat of a decrease.  We are hoping to see rates in the low 5's or high 4's through March.  After April, the feds are pulling out of buying Mortgage Backed Securities...
02/22/2010
Link to article So the feds decided to raise the rates yesterday way in advance of everyone' expectations.  We have been hearing that rates will rise all year and this is the beginning of the trend.  Any rate drops are temporary and should be used as opportunities to lock in.  Consumers that are ...
02/19/2010
Link to article I wanted to share this article with everyone from CNBC today.  Front page is talking about what I've seen happen in the industry for a while now.  It's called "Strategic Default."  This is where homeowners choose to walk away from their home because it doesn't make business sense....
02/18/2010
Link to article   Federal and mortgage industry officials are increasingly looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction.  Citigroup, for instance, plans to announce a pilot program on Thu...
02/12/2010
Link to article   Good article posted a couple days ago regarding the stimulus and interest rates.  The feds are already laying out the groundwork for a rate hike as soon as March 16th.  I'm not sure what signs of a better economy they are seeing at this time.  Or maybe they are realizing that so...
02/11/2010
Link to article Delinquencies on prime jumbo loans continue to climb, and Fitch Ratings says they could reach 10 percent as early as next month.  Loan performance among high-end mortgages within private residential mortgage-backed securities (RMBS) showed further weakness in January, as serious d...
02/10/2010
Link to article Real estate website Zillow.com says one of every five U.S. home owners owed more on their mortgage than their home was worth in the fourth quarter.  The percentage of American single-family homes with mortgages in negative equity rose to 21.4% in the fourth quarter from 21% in the...
02/10/2010
Link to article Freddie Mac and Fannie Mae were among the first big financial institutions to receive massive federal bailouts after the financial crisis hit in 2008. Government officials have been racing to fix bailed-out car makers and banks and are pushing to reshape the financial-services ind...
02/09/2010
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