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 to [...]
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 stress [...]
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 past [...]
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 home [...]
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 203k program [...]
Why Does The FHA Approve Loans That Borrowers Can’t Afford?
FHA Delinquency Rate Raises Questions
The latest delinquency rates reported by the FHA are troubling and raise serious questions about the qualification process for approving FHA borrowers. The latest FHA numbers focus on the number of borrowers [...]
Banks Offering 3.875% Fixed Rate Mortgages
TARP Dollars Deployed
Two Washington State banks are now offering 30 year fixed rate mortgages at 3.875%.
SPOKANE, Wash. – Spokane-based Sterling Savings Bank and Walla Walla-based Banner Bank are offering mortgages at interest rates below 4 percent to [...]
Feds Say FHA May Need Taxpayer Bailout
FHA Bailout Appears Likely
Government officials said that a taxpayer bailout of the FHA appears likely based on increased mortgage defaults. The FHA has traditionally had higher default levels than Fannie Mae or Freddie Mac due to more [...]
