As of May 1st, 2009 you will be required to have appraisals done through an Appraisal Management Company. This is being done to protect borrowers from being taken advantage of or is it? I have posted several stories speaking about how the Banks tried to point the finger at Mortgage Brokers of the mortgage meltdown [...]
Entries from April 2009
April 21, 2009
Southern California Short Sells
Are Short Sells that best way to purchase a home?
Today we see short sell properties almost everywhere. Most of the time we do not even realize that there is a short sell property near us. Unless you find out the deals of a homes sell they can appear to be a standard transaction. The issues [...]
April 10, 2009
Bank Shows Huge Profit For First Quarter Of 2009
Does anyone find it odd that Wells Fargo Bank is posting roughly a three billion dollar profit for the first quarter of 2009? Well if it does then it should be a wake up call to you. Main Stream media is not giving it to you straight. Main Stream Media is a business and [...]
April 7, 2009
The Cost of a Home Mortgage is Going Up….
If you are in the market for a new home mortgage soon you will be hit with additional appraisal cost as the Banks will soon require your property to be appraised by one of their company approved appraisers.
Let’s break this down so you understand how this will impact a borrower. When you apply [...]
April 6, 2009
Market News
The benchmark 4.0% mortgage bond bounced back from lows earlier in the session closing higher by 12bp to close at $99.88. Stocks traded lower throughout the entire trading day.
First quarter corporate earnings season is beginning and stock investors are concerned about the quality of earnings due to the recession.
The bond [...]
April 3, 2009
Home Mortgages to 105% LTV Without Mortgage Insurance
Emerald Coast Investments will begin excepting home mortgage application on a new loan program that could help many people take advantage of the current rates without mortgage insurance. Of course there are some restrictions but they are not as difficult as you might think.
The program works like this; you can refinance your existing [...]
April 1, 2009
Market News
Although it wasn’t a big surprise, the markets could only wish this morning’s ADP employment report was an April Fools joke.
The ADP numbers showed 742,000 jobs lost in March, far worse than expectations of 663,000 jobs lost and the worst reading in ADP’s nine years of reporting.
We certainly know the labor market continues to [...]
D Fragoso