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07 Oct 2010 11:11

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Biz: Freddie Mac: Mortgage rates lower than they’ve ever been

  • 4.27% mortgage rates; that’s the lowest ever source
Posted by Ernie Smith • 0 Comments • Permalink

05 Aug 2010 10:33

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Biz: Mortgage rates are lower than they’ve ever been before

  • 4.49% blame the economy for this, guys source
Posted by Ernie Smith • 0 Comments • Permalink

16 Jun 2010 09:46

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Biz: Fannie & Freddie’s stocks so crappy right now, they’re getting delisted

  • what Fannie Mae and Freddie Mac, the two massive government-backed mortgage companies, are trading so lo that they’re about to be delisted.
  • when Expect both stocks to get removed from the New York Stock Exchange by July 8. They’ll trade in the the over-the-counter market instead. source
Posted by Ernie Smith • 0 Comments • Permalink

31 May 2010 21:42

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U.S.: The dude in this photo has his own personal lobbyist

Rodney Anderson is a cool dude. A mortgage broker, he realized that some of his clients weren’t able to buy homes because of old medical bills. His lobbyist is fixing that. source
Posted by Ernie Smith • 0 Comments • Permalink

10 May 2010 10:57

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Biz: Which mortgage firm is asking for another government handout?

The company lost $13.1 billion in their last quarter, so now they’re hitting up the government for another $8.4 billion. Fannie’s too big to fail. source
Posted by Ernie Smith • 0 Comments • Permalink

08 May 2010 12:46

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Politics: Sen. Richard Shelby: Financial reform missing Fannie, Freddie

  • When home prices finally collapsed, these ticking time bombs exploded, saddling taxpayers with hundreds of billions of dollars of debt.
  • Sen. Richard Shelby • Saying why he thinks the financial reform bill should include Fannie Mae and Freddie Mac, two major mortgage companies that fell apart during the financial crisis. He thinks that the financial reform bill should do something about the mortgage giants, which he characterized as costing taxpayers significant amounts of money. During his statement, in response to Obama’s weekly radio address (which tackled health care’s successes), Shelby also criticized a proposed consumer protection watchdog bureau in the Federal Reserve for possibly raising costs for taxpayers. source
Posted by Ernie Smith • 0 Comments • Permalink

04 Feb 2010 10:10

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Biz, U.S.: Many homeowners choosing to give up on their worthless mortgages

  • Since the beginning of December, I’ve advised 60 people to walk away. Everyone has lost hope. They don’t qualify for modifications, and being on the hamster wheel of paying for a property that is not worth it gets so old.
  • Scottsdale, Ariz.-based mortgage broker Steve Walsh • Regarding the depressing, sad state for many homeowners – many who giving up on their homes due to mortgages that cost more than the homes are actually worth. 4.5 million homeowners have homes that are worth just 25% or less than the cost they paid. Many are choosing to foreclose rather than stay stuck in a property they don’t want. source
Posted by Ernie Smith • 0 Comments • Permalink
 

13 Dec 2009 10:18

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Biz: Mortgage rates super-low, but good luck taking advantage

  • 4.7% the low point of mortgage rates, hit in the 1940s thanks to post-WWII government intervention
  • 5+% the place it’s been most of the time since the 1950s – at one point, it was near 17%, which is insane
  • 4.8% the current rate, caused by massive government intervention; too bad banks don’t want to refinance source
Posted by Ernie Smith • 0 Comments • Permalink

20 Jul 2009 10:42

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Biz: Sketchy subprime mortgagers try to screw already-screwed people

  • pre-burst Companies offer subprime mortgages that allow tons of people to get homes that they can’t afford. The companies make out like bandits, but when the housing bubble bursts, those homeowners are screwed. This is pretty evil.
  • post-burst Not afraid to kick already-lowered people or stick the knife further into their backs, the people behind the subprime mortgage companies start new loan-fixing companies, then fail to follow through on promised loan fixes. This is beyond evil. source
Posted by Ernie Smith • 0 Comments • Permalink

02 May 2009 12:35

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Biz, U.S.: Renters in foreclosed homes get screwed, too

  • 30% of homes foreclosed this year are being rented out source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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