Did your mortgage company make you mad? Did your loan officer make all sorts of promises and didn't keep one of them? Thinking about changing mortgage lenders midstream before your escrow closes?Such a switch is, to put it mildly, cumbersome. It's not a situation where you can transfer your loan application and all the associated documentation or picking up the phone and … [Read more...] about The Ol’ Switcheroo
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 can be created in a mortgage loan. The difference might be … [Read more...] about Your Mortgage. Um, YOURmortgage
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 can crank up the printing presses. The … [Read more...] about How Low Can We Go?
When it comes to Freddie Mac and Fannie Mae, good news is hard to come by. If youâ€™ve been following the blog, you probably already know that Fannie Mae reported a rather large loss in the first quarter, but what about Freddie? Unfortunately things arenâ€™t much better there, either, although arguably not quite as bad with the firm reporting a loss of $9.9 billion in the first … [Read more...] about Freddie Mac Up Next for Additional Aid
I, like many individuals out there, have a hard time really wrapping my brain around large numbers. This isnâ€™t to say that I canâ€™t do math, just that after a certain denomination, I tend to lose sight of the impact that amount of money can have. So when Fannie Mae recently reported that it lost $23.2 billion in the first quarter of 2009. I largely shrugged it off. If you … [Read more...] about Fannie Mae Continues to Bleed