FHA - Ready To Join Fannie And Freddie
Multiple Reasons For High FHA Default Rates
Massive default rates in the FHA loan program are starting to raise a few eyebrows. Without major reform of fundamentally poor lending policies, the FHA could soon join the failed ranks [...]
Loan Modification Searches Go Parabolic - Making Home Affordable Guidelines
Loan Modification Enters Mainstream Vocabulary
If you had used the term “loan modification” six months ago, most people would have given you a blank stare. With the passage of the Homeowner Affordability and Stability Plan, the term loan [...]
Are Geithner’s Days Numbered? Banks And Investors Have Zero Confidence
First Impressions Hard To Reverse
The old saying in the recruiting business is that one is judged in the first 15 seconds of a job interview. Irregardless of what happens for the rest of the interview, that first [...]
First Time Homebuyers In 2009 Helped By $8,000 Tax Credit
Large Benefit For First Time Homebuyers
The stimulus bill (American Recovery and Reinvestment Act of 2009) recently signed into law provides a large incentive to first time homebuyers. The purchaser of a principal residence made on or after [...]
FHA Increases Minimum Credit Score Requirement
FHA And VA Increase Credit Score Requirement
Effective March 6, 2009, a minimum credit score of 620 will be required to be eligible for FHA and VA loans.
The credit score requirement had recently been changed less than a [...]
Banks Tighten Lending By Restricting FHA Cashout Refi
FHA Loans Become Tougher To Qualify For
Effective January 1, 2009 HUD announced that any FHA cash out refinance would require two appraisals when the loan to value exceeds 85% - see FHA Takes A Closer Look At [...]
Bernanke Predicts 2010 Recovery In Stocks, Housing & Economy
Bernanke Predicts Recession To End In 2009
The stock market jumped over 200 points today, partly due to Federal Reserve Chairman Ben Bernanke’s optimistic comments to the Senate Banking Committee. Some selected comments by the Chairman follow:
“If actions [...]
Notable Links
Living Beyond Yours Means - California’s Economy Gets Worse
California’s Pain Is Only Beginning
BIG SUR, Calif. — As Sacramento squabbles over the state’s $42 billion deficit, Californians are getting a bitter taste of what’s to come after the [...]
Why Did So Few People Save For Hard Times?
A Recession of Biblical Proportions
Consumers usually build savings in booms, then raid their troves during busts - but not this time.
In booms we put away some of the abundance because we know we’ll need it in busts [...]
