What a difference a year makes
Nearly a year ago I wrote a blog on the amount of referrals my mortgage consultants had done for 2007.
That was a good number…So, I had much loftier goals for 2008 and NW Indiana, I set a goal of 24 to 30 million range. Well, I am sad to say that my office and I [...]
New Years – NEW RATES
Last week was defined by lower volume and lack of serious conviction, mortgage markets plodded ahead of Christmas last week. Friday’s post-Christmas action was even slower like the lines at local Super-Center that will remain nameless.
After mortgage rates fell the last two consecutive weeks, they held flat last week.
It is a little surprising that mortgage [...]
Too Many Homes and Low Rates = good news
For the first time in about a year, the sale of homes fell below 5-million units, this helps push the total home inventory just a bit higher by 0.1% nationwide.
Believe it or not, but based on that rate it would take over 11 months for the existing home supply to be exhausted.
For new home buyers [...]
Merry Christmas
Read more »500 Years of Experience divided by 3
I was looking at the local homes and lifestyle book this afternoon. I have long quit advertising in it. I looked at a competitors ad and it stated they have “500 hundred years experience”. I looked again to make sure I read that right. Yep, 500 hundred…
Read more »Locking, Absolutely Locking!
On a cold day in late-November, the Federal Reserve pledged $600 billion to buy mortgage-backed securities, not treasuries. This announcement drove down mortgage rates and kick-started a mini Refi Boom among NW Indiana homeowners.
The Federal Reserve then made a second round of statements after its scheduled meeting last Tuesday, thus causing mortgage rates to plunge [...]
Charge-offs, how do I delete
Creditors typically write-off or charge-off debts that have had no payments on the account for more than 180 days, or six months. However, this does not mean the consumer is no longer responsible or accountable to the unpaid balance. A charge-off is an accounting procedure used for tax purposes by the creditor to report losses [...]
Read more »Down and up and what is ahead
The mortgage markets improved a ton last week and for the second week in row. Dare I say “trend”. After the Federal Reserve said it would use “all available ticks” in their little black bag to stimulate the economy, mortgage backed securities traders responded positively by driving down mortgage rates to 50-year lows, the [...]
Read more »How to Delete Charge-offs
How to: Delete Charge Offs
Creditors typically write-off or charge-off debts that have had no payments on the account for more than 180 days, or six months. However, this does not mean the consumer is no longer responsible or accountable to the unpaid balance. A charge-off is an accounting procedure used for tax purposes by the [...]
Reversal of Fortune
New HUD Reverse Mortgage Guidelines
HUD recently just issued some new guidelines for the purchase of a new home by senior citizens using the FHA-insured Home Equity Conversion Mortgage (HECM) program. Under the new guideline changes to the HECM program that were recently enacted as part of the Housing and Economic Recovery Act of 2008. States [...]
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