As I was ferrying my two youngest back home on my lunch break the other day after picking them up from my wife at her Dentist appointment, I tuned in to AM 1000 to catch some financial news and see how the market was responding to the 1/2 point move by the Federal Reserve.
To my [...]
Comments(0) Every once in a while I am successful in negotiating with my family to have for dinner what I affectionately refer to as “LOs.”
By LOs I don’t mean Loan Originators, which is what/who the US Senate may be serving up with the current proposed bill S. 2452, Home Ownership Preservation and Protection Act of 2007. [...]
Comments(0) While many recover from tryptophan-induced food comas over the next few weeks, the looming question is bound to return:
What’s going on with the mortgage market?
Realistically we may see a few more after-shocks but most analysts agree that the major changes to the home loan industry have likely run their course. For homeowners and buyers in [...]
Firstly, a quick note of appreciation for our very own Denice Rochelle. The stoic Eleanor Roosevelt (whom you remind me of with your spirit of giving and willingness to help others ) said, ‘Yesterday is history, tomorrow is a mystery, and today is a gift; that’s why they call it the present.’
Thank you Denice for [...]
Predatory Lending Practices
There are a number of different forms that predatory lending takes. In each instance, however, a financial institution takes unfair advantage of a consumer’s financial needs by charging usurious interest rates and other unconscionable fees and charges:
Predatory mortgage lending involves a wide array of abusive practices. Here are brief descriptions of some of [...]
Comments(0) I was warned about this two years ago, sitting in an uncomfortable chair in a chilly meeting room in Kent. I needed continuing education hours to renew my real estate license so I took a $10 class by a highly-recommended Stewart Title officer. During the class our instructor described a road map of what we’d [...]
Read More..>>HUD, the U.S. Department of Housing and Urban Development, regulates two housing government-sponsored enterprises, Fannie Mae and Freddie Mac (the GSEs), which were chartered by Congress to create a secondary market for residential mortgage loans. They are considered “government-sponsored” because Congress authorized their creation and established their public purposes.
Fannie Mae and Freddie Mac are the [...]
Comments(0) Thinking of buying a condo or town home? Seen an ad stating “No Homeowner’s Dues?” Sounds good but BEWARE.
Condos
A condominium is a type of joint ownership where some parts of the property, like the land, lobby, storage areas, parking and hallways are commonly owned and other parts, such as your unit are individually owned. Don’t [...]
Comments(0) Here are the ways to know when it makes sense financially to purchase your first home.
Buying your first home is a personal decision that you should make independent of what the market may or may not be doing.
“Time means nothing,” says Michael Eisenberg, a CPA and financial planning specialist in West Los Angeles. You can’t [...]
Credit scores are an important factor in mortgage loans but many consumers are unsure about what causes them to receive that score. The typical score model for mortgages are FICO Scores. They are determined by five main categories:
35% is based on your payment history. ( Including all accounts)
30% is based on the amount you owe [...]
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