If by midnight tonight an agreement is not made regarding the funding the federal government, many vital services will be shut down. No, this is not the apocalypse! but yes some sectors will feel the aftershocks of such action. Where JohnHart is most concerned is with FHA financing. In these hard times many people are […]
During the recent economic meltdown, many hard working Americans witnessed their assets devalued.
In recent weeks, the Obama administration released data on Making Home Affordable Program. According to the 10 page report, HAMP’s participants climbed – on constant basis – to reach over 1.1 million trial modifications with 23% granted permanent modification. East Cost Homeowners top the South California in total percentage of HAMP activity. Overall, 12.2% of […]
Emerged in the last 20 years of the 20th century, short sales provided a viable solution to the 1989 Savings and Loans crisis. Similar to foreclosure crisis of 2008, the 1989 Savings and Loans crisis resulted in wide spread foreclosures and economic slowdown. In reaction, the federal government enacted new real estate regulations which opened […]
Agents along the U.S. Gulf Coast are reporting a dramatic surge in buyers backing out of deals of what used to be prime beachfront real estate.
Fannie Mae is loosening its grip on its previous rules and allowing buyers to apply again in as little as two years.
Has the effort to improve loan modification programs decreased the chances of housing price decline? Experts have stated that not only does loan modification efforts slow price decreases it might also take a longer time for the housing market to reach bottom limits. At the end of 2009 we saw a 5% decline instead of […]
The more money you make, the more the government takes from you. Families earning more than $250,000 are considered well off and are in the 35% tax bracket. Soon the bracket is expected to increase to 39%. Somebody has to pay for all the debt our country is in; apparently government has decided that somebody […]
Rates had decreased this week compare to last week. Last week a 30-year fixed loan was 5.21%, this week it has dropped to 5.07%. Rates for a 15-year fixed loan last week were 4.52% last week, this week it is 4.40%. Economists state that low inflation keeps the interest rates from increasing.
After an investigation the Senate panel found that Washington Mutual could have prevented the downfall of their company. Executives at the firm had knowingly approved borrowers for loans they knew eventually the borrower was not going to be able to afford. Further investigation found that loans were even given to individuals who had provided false […]
