Blogzz

The NY Times reported on Friday that Freddie and Fannie find themselves between a rock and a hard place as investors sit, refusing to take a flyer on the these two credit bohemoths. My favorite quote: “You would have to be insane to invest in these companies right now, and we’ve basically told th...

The Hoosier state has joined the ranks of states filing suit against the lender everyone loves to hate, Countrywide Financial Corporation.The Indiana Attorney General's office has filed a law suit, claiming that the mortgage lender mislead homeowners, to the point of outright lying to customers."...

Lots of news coming out of Jackson Hole, and none good. In an interview with Market Watch, Princeton University economics professor Hyun Song Shin says total credit losses will surpass $1 trillion because the credit problems have spread beyong the housing market to business and consumer debt. The...

The introduction of HR 6694 in the House is meant to breathe life back into the FHA seller funded downpayment assistance that is currently on life support with the plug scheduled to be pulled on October, 1 2008.   FHA funds nearly 20% of home loans in the US, so it is n o surprise that this bill ...

The last 6 weeks has seen more bank failures where the FDIC has had to step in than in the first 6 months of 2008. And it isnt even close to being over. Bank Name Closing Date Updated Date The Columbian Bank and Trust, Topeka, KS August 22, 2008 August 22, 2008 First Priority Bank, Bradenton, FL ...

On April 17, 2008, Barney Frank introduced in the House a bill that would enable FHA to refi home loans at 90% of current market value with the goal of keeping more home owners in their homes. I will track this bill through the House and Senate as I did with the Mortgage Forgiveness Debt Relief A...

When the Mortgage Debt Forgiveness Act of 2007 was signed into law in December, many agents and homeowners assumed it was the answer to all pre-foreclosure situations. This will open even more options for distressed homeowners who may be inclined to walk away from a mortgage. Like any law though,...

With the Senate's passage of HR 3648, The Mortgage Forgiveness Debt Relief Act of 2007, on Friday, December 14, 2007, many sellers who elected to go the short sale route from San Diego to South Florida await only the House's rubber stamp of approval and the signature of President Bush to rescue t...

First we saw the Million Dollar Homepage, followed by dozens of copycat variations.Now we have Graham Langdon, a 21 year old UConn senior, who put a creative twist on the concept with Million Dollar Wiki.Graham says he was drawn to wikis as a revolutionary platform, so he looked for practical app...

In NAR's May 14th response to the CBS 60 Minutes story, they listed a few issues where NAR felt that the "facts" presented by 60 Minutes were less than accurate. Here is one such example:Error: The six percent commission is "sacrosanct." Fact: All commissions are negotiable. The average commissio...