Wall Street

Wall Street

Government Greases the Wheel. Finally.

News flash (and it is really a news flash): the federal government is stepping into the 21st Century but not until after the first of the year. Hey, it's a start. As mortgage loan and loan modification applications are reviewed by lenders, one vexing bit of paperwork has always been the IRS form 4506-T. This [...]

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Will a Co-Borrower Help With a Loan Modification?

If you're in the process of modifying your home loan and your lender has said that your debt ratios are too high, can you get someone to co-sign with you to help bring those debt ratios in line? Part of the loan modification review is determining how to get your debt to income ratio within [...]

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Rates Always HIgher After An Election. Or Is It Lower?

Mortgage rate myths seem to come and go. Rates are higher if there's a Democrat elected. Rates are higher if the American League wins the World Series, and so on. Will there be a mortgage rate reaction this next Wednesday morning? An article in today's Wall Street Journal provided a punch list of what business [...]

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Your Mortgage. Um, YOURmortgage

Recent ads on TV, radio and online promote a particular mortgage lender that offers to create a special mortgage with a payoff period designed specifically for you. That's actually a good thing. Most consumers think there are two mortgage terms, a 30 year mortgage and a 15 year mortgage. Yet in reality most any term [...]

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How Low Can We Go?

Sir Bernanke christened the great new ship, the QE3 today.  The QE3, whose longer moniker is Quantitative Easing, Round III, pledges that the Central Bank will print, er, buy $40 billion of mortgage backed securities each month. This monthly "investment" in the U.S. economy has a strict starting point, immediately.  Or at least when they [...]

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