The Contradiction Of Empty Homes And Rising Apartment Vacancies
A Housing Surplus Huge increases in foreclosures have resulted in millions of homes sitting vacant as bank REO managers struggle to sell the empty homes. Theoretically, people who have been evicted or lost their homes to foreclosures [...]
Wells Fargo’s New Zero Down Payment Mortgage Program
Risk Of No Down Payment Mortgages There is longstanding and overwhelming statistical proof that zero down payment home buyers default on mortgages at a far higher rate compared to home buyers who make a down payment. This [...]
Profile Of A “Making Home Affordable” Homeowner – Everyone Should Do It
Overburdened Homeowner Subsidized Loan modification programs have been seen as the answer to preventing foreclosures and allowing the housing market to stabilize. The programs have become progressively more aggressive as foreclosures continue to mount and housing prices [...]
Elderly Americans Last Refinance – Reverse Mortgages
Reverse Mortgages – More Easy Lending As originally conceived, reverse mortgages were designed to fulfill a legitimate borrowing need. Reverse mortgages were developed for elderly Americans who had a mortgage free home with substantial equity and wanted [...]
TARP 2 – Will Bad Loans Wipe Out Newly Raised Bank Capital?
Are The Banks Paying Back TARP Money Too Soon? Since the beginning of the year, major banks have raised over $200 billion in capital, far in excess of the $75 billion of new capital that the government [...]
The Cost Of Easy Money – $14 Trillion and Counting
Supervisory Insights – Where The Money Went The FDIC released their Supervisory Insights report today which contains a detailed breakdown of the almost $14 trillion dollars committed by the Government to support the financial system over the [...]
Banks Loss Reserves Can’t Keep Pace With Troubled Loans
The latest FDIC Quarterly Banking Profile reveals that banks increased loan loss reserves by 11.5% and the ratio of reserves to total loans increased to 2.5%, an all time high. Despite the large loan loss reserves, the [...]
FHA’s New Mortgage Program – Free Home Plus Trip To Vegas
100% Plus Financing Available The American Recovery and Reinvestment Act of 2009, passed early this year, provides up to an $8,000 tax credit for first time home buyers. The tax credit refund would be given to the [...]
FHA 203k Program – Financing Uninhabitable Homes
Good Intentions Gone Astray? The Federal Housing Administration (FHA) currently provides over one third of all mortgage financing. One unique mortgage program the FHA offers is the “Rehabilitation Loan Program (203k)”. The benefits and features of the [...]
