Greg Rielly's (teamrielly) Blog

  Veteran's Administration (VA) MortgagesVA mortgages may be approved with ZERO down payment which makes them ideal for first-time borrowers.VA loan amount may be as much as $417,000 with full entitlement in Snohomish and King Counties.VA loans have very low market interest rates.VA loans have no...

 It has been a real eye-opener to read the local print media spin on the shutdown of wholesale investor, MILA.  More than anything, I am disappointed with the weak reporting by the Everett Herald and the attributed cheap, unflattering, and egregious references toward owner Lane Sapp.  How unfortu...

MOUNTLAKE TERRACE, WA: Due to negative market conditions in the volatile SubPrime industry, MILA (Mortgage Investment Lending Associates) was unexpectedly forced to lay off all of its 300 employees and they officially closed their doors effective Friday, April 20, 2007.  While very unfortunate fo...

 Tougher lending underwriting criteria results from Subprime Fallout According to the National Association of Realtors, "tighter lending criteria and fallout from the subprime loan debacle should lead to a healthier housing market with greater assurance that owners can handle mortgage adjustments...

After a valiant effort to keep the financial boat afloat, New Century Financial voluntarily filed for Chapter 11 bankruptcy protection today. The No. 2 subprime lender in the country sold $139 million worth of assets and pink slipped almost half of its workforce.  Where's the Sub-Prime industry g...

 Market Commentary for Friday March 30, 2007 & Upcoming Week Dow +5.60 at 12354.35, Nasdaq +3.76 at 2421.64, S&P -1.67 at 1420.86 Stocks traded lower this week after a wave of economic reports hinted towards higher inflation, higher consumer spending but weaker consumer confidence. Go figure. Fed...