Refinance .net

Financing.Org has a short piece covering President Obama’s remarks this weekend. In his remarks, the president makes it clear that he’s pushing banks to use a significant portion of the government’s bailout money to open up consumer and business lending. But the portion of his remarks that I found most telling was [...]

One of the most devastating factors in the national collapse of confidence in the home mortgage marketplace is the pervasive fraud that infested the mortgage brokerage system. In the good old days George Bailey made home loans to his neighbors and community. He knew who he was lending to, and had a pretty [...]

I hate to quote complete articles, but this analysis from USAToday is so powerful, and so sobering, we thought that it was well worth reading.

More room to fall?
For every $100 spent on a house in 1950 the investment rose slightly through 2002, then soared to about $192 in 2006, adjusting for inflation. Then credit [...]

In 2005 the comptroller of the currency, John C. Dugan, was among the first to sound the alarm that interest only and negative amortization loans were a looming threat to the stability of the mortgage banking system. Speaking to a consumer advocacy group, Dugan painted a troublesome picture of option-ARM lending. Many buyers, [...]

The Federal government expanded its bailout deeper into the consumer and mortgage credit markets. In the past few weeks efforts have focused on capital infusion and solvency. The government has made direct investments into banks- essentially handing them money - so that they would have some operating capital. Now the financial [...]

Happy Holidays. Mortgage giants Fannie Mae and Freddie Mac have decided not to be the grinches who steal Xmas this year.
Nov. 20 (Bloomberg) — Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, will suspend foreclosures and evictions over the holidays.
The six-week halt will begin Nov. [...]