Renters in Foreclosure: What Are Their Rights?

The sub-prime mortgage industry meltdown is now affecting renters whose landlords have lost their rental properties through foreclosure.
The mortgage industry crisis that started in 2006 has resulted in thousands — no, make that millions — of foreclosed homes. Most of the occupants are the homeowners themselves, who must scramble to find alternate housing with very [...]

$8,000 first-time home buyer tax credit now available

  First-time home buyers who purchase a home this year can now take advantage of the stimulus bill’s $8,000 tax credit, the U.S. Department of the Treasury said in a news release on Wednesday.
  Unlike the previous $7,500 credit available to this group of buyers, the credit outlined in the American Recovery and Reinvestment [...]

Market News

The mortgage bond market traded without much conviction today despite another stock market thrashing.
The benchmark 4.5% FNMA bond ended flat at $100.91 after trading in a 31bp range.
A pending overhang in bond supply seemed to thwart any rally attempts with a tough layer of overhead resistance found at the 25-day MA at $100.97 and a [...]

Most Expensive Catastrophes in History

# 11. Titanic – $150 Million

The sinking of the Titanic is possibly the most famous accident in the world. But it barely makes our list of top 10 most expensive. On April 15, 1912, the Titanic sank on its maiden voyage and was considered to be the most luxurious ocean liner ever built. Over 1,500 [...]

Despite Fed’s efforts, analysts see more pain for housing market.

  Recent steps by the government including a tax incentive for first-time home buyers and a plan to stem foreclosures likely won’t be enough to offset the credit and economic woes that are weighing on the housing market, Wall Street analysts say.
  The Obama administration earlier this week announced a $75 billion plan to help [...]

Home Owner’s With No Equity May Find Some Mortgage Relief

  Today President O’Bama stop in Phoenix AZ where he spoke about a home mortgage plan to help people that are up side down in regards to their home mortgage.  The plan that he is speaking of is the hope loan that was voted on and passed by Congress last year.  The problem here is [...]

Reverse Mortgages Have Saved Many Seniors

 
 Several months ago I posted an articale about reverse mortgages.  I know reverse mortgage sounds unsettling but after looking closely at the revised product it is not only a good option but a safe option.  Many seniors have lost a great deal of money with the fail out the stock market and as a result [...]

So who or what will be bailout next?

 

 
  Currently the Bank CEO’s have had their time in the hot seat and they have clearly made false statements.  If any of these guys where an average person such as you or I they would be facing perjury charges.  There are several current and former baseball players that have been in the hot seat [...]

The End of Countrywide Is Near

 
           
 
 
  Sources at Countrywide Mortgage, the nation’s largest home mortgage originator, said that as of April 1st, 2009 Countrywide will close down operations.  Bank of America purchase Countrywide in 2008 to the surprise of many insiders.  It is unknown how many Countrywide employees will remain with Bank of America at this time.  [...]

Bank CEO’s called to Capital Hill

  
    Well by now I would have to say that most of us know that several Bank CEO’s where called to Capital Hill to answer questions about received TARP funds.  As expected the CEO’s had little to say while they took their turn in the hot seat.  Maxine Waters has been a person that I have been hard [...]