Paul Bozek's Blog

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Mortgage and Lending - American Financial Network - MLO 189572
RECENT BLOG POSTS
Foreclosures again climbed sharply in the capital region during April, May and June as 6,075 more households surrendered their keys to the banks, property researcher DataQuick Information Systems reported today. But DataQuick's numbers show that the rate of growth foreclosure activity in Amador, ...
07/24/2008
Looks like they are trying to scare everyone again by talks of taking away Nehemiah down payment assistnace.  I think it's a bunch of smoke.  Not having down payment assistance would really put the FHA purcahse market to a grinding halt.  What I think is going to happen is that they will require ...
07/23/2008
HUD just came out with a revision to mortgage insurance premiums as well as monthly mortgage insurance.  Below is the official memo from HUD with further explanation of changes that have been implemented along with the actual schedule of changes based on LTV and credit score.  This is effective a...
07/13/2008
California Attorney General Jerry Brown filed a lawsuit Wednesday against the nation's largest home loan lender, charging Calabassas-based Countrywide Financial Corp. with deceptively pushing homeowners into risky, mass-produced loans that have caused thousands of residents across the state to lo...
06/25/2008
Today, I have some bad news. The pain at the pump is probably going to get a lot worse. In fact, if you think gas prices are rising quickly now, the move this summer could seem practically supersonic. 1.) Gasoline Starts to Outpace Crude Oil. Over the past year, gasoline prices have soared about ...
06/18/2008
The White House temporarily suspends a rule that imposes a 90-day waiting period before foreclosed homes can be sold to receive government loans. The Bush administration is temporarily suspending a 5-year-old rule intended to deter property flippers, as part of an effort to help speed the sale of...
06/16/2008
Filings for the month jumped by 48%. Nevada, California, and Florida continue to bear the brunt of the crisis. The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed...
06/16/2008
It's good to see positive things happening in the market.  I wanted to share a success story of how agents are really taking advantage of this market.  David McIlvaine has the right specialty in a housing crisis: He sells homes that banks have taken back from borrowers who can't pay their mortgag...
06/11/2008
Maybe the government isn't going to bail out as many people as we all thought.  It looks like to me that someone is finally starting to think ahead being proactive instead of being reactive. Federal Housing Administration Commissioner Brian Montgomery said a plan for his agency to take on two mil...
06/09/2008
Biggest jump in unemployment rate since 1986 - combined with energy and housing woes - stokes fears about recession. A spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing a...
06/06/2008
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Paul Bozek

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