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You?ll Never Guess What?s More Dangerous Than Sharks at the Beach
2008-06-05 05:37:00
Let me start you right off with a little quiz… Q) What’s more dangerous than sharks at the beach?  A) SAND!! It’s a fact.  Dr. Bradley Maron of Harvard Medical School has made it his life’s mission to educate people about the dangers of death by sand.  According to his work, there are 20 documented deaths ...
More About: Beach , Guess , Dangerous

Back in Business, Finally!!!
2008-06-04 17:14:00
OK, I have finally gotten many of the technical issues that have plagued my operations fixed, or at least, such as the case with my laptop, workable.  Chances are I am still going to be forced to buy a new laptop and put this one into "storage" since a part of my hard drive is ...
More About: Business , Back , Finally

Have You Ever Been Behind This Much?
2008-06-02 18:44:00
  Just take a look at this picture taken this morning of my Outlook screen and you can see just how far behind I am right now due to my technology issues, still ongoing with the laptop.  My Outlook program won’t even start anymore on that computer due to the hard drive and/or motherboard failing, ...

Mortgage Coach: Unique Software?
2008-05-29 15:44:00
I have come across several mortgage companies that have very misleading statements in regards to being “mortgage planners” and using “Mortgage Coach ”, even stating the software as their “unique software” for developing mortgage plans. Let me set the record straight… Mortgage Coach is the most widely used program by any mortgage professional that wants to claim to ...
More About: Software , Unique

Florida, It?s Time for a Little Preparation H
2008-05-29 04:27:00
I know what many of you are thinking about the title of this post, but get your minds out of the gutter, this is much more serious.  Preparation H for the purposes of this post is all about the upcoming Hurricane season and the need to prepare even your home’s equity. All around the state, especially ...
More About: Time , Florida

Did You Miss Me? A Lesson in Technology Dependence
2008-05-27 18:22:00
Some people have been wondering why there hasn’t been any posting here for about two weeks, three weeks if you omit the video upload.  Well, there is a not a single reason, rather a multitude. Technology is great when it works, which my laptop has been rather moody lately, especially when it comes to emails.  While ...
More About: Miss , Lesson , Miss Me

Can You Do Better Than "This"?
2008-05-14 20:30:00
I was trying to find a good song that sums up why I blog and this one, particularly the chorus does the best job.  The song is done by John Reuben and is titled, “Nuisance”. As the chorus goes… I am not trying to be a nuisanceI just think we can do better than thisThat was simply my two centsYou can take it or leave it If you “want to do better than this” as it relates to your mortgage, send me an email so you can get started today.

It Was a Mad House Today (Government Edition)
2008-05-09 00:36:00
Today was certainly a busy one for the House .  It is a good thing it is an election year or some sanity may have entered the voting process.  Instead we end up with more government interventions that should do their job of prolonging the current housing crisis, almost indefinitely. I already posted their approval of the local government becoming the real estate investor of first choice for foreclosed properties.  But they weren’t going to stop there as they were on a roll to create more turmoil in the markets. They then approved HR 3221, the Foreclosure Prevention Act of 2008, by 266 to 154, making the recent increases in loan limit for certain “high-cost” areas.  Sounds like discrimination to me. As if that wasn’t enough chaos, they passed HR 5830, the FHA Housing and Homeowner Retention Act (I dubbed this the Barney Fife bill).  This is the major bailout bill which gets lenders to write down homeowner loan amounts that can subseque...
More About: Government , Today , Edition

House Approves Local Government Real Estate Investing Venture
2008-05-08 19:26:00
Real estate investors may find it harder to buy foreclosed, particularly the fixer-uppers, due to an unexpected entrant, the state government.  It hasn’t become law, so there is still time to grab up those properties now, but if the bill passes, local governments will be allowed to buy foreclosed properties and start their real estate investing venture, of course, at the taxpayers expense. The House approved sending states $15 billion to buy and fix up foreclosed properties, passing by a vote of 239-188, with most republicans voting against.  The bill will provide loans and grants to areas hit hardest by the housing crisis, so not all neighborhoods will be treated the same.  in fact, I am guessing that the government will pick those areas that they can gain the most from. This is a separate bill from the Barney Frank fiasco (HR 5830) that is set for vote later today.  The only good news is that President Bush has vowed to veto both if they make it to his desk.
More About: Government , Venture , Estate , Real Estate

CNN Money: Florida Cities Still Set for Steep Losses
2008-05-08 18:52:00
CNN Money put out an article titled “10 markets set for steep losses” and topping the list, Florida cities like Miami and Orlando.  The list breaks down their forecast for continued losses in the housing market and a forecast for the bottom. While I don’t put much weight into their analysis, it is interesting to see what the are saying, at least worth sharing, in my opinion.  Here is the breakdown of which Florida cities made the top 10 list and their respective forecasts… 1.  Miami, FL:  12-month forecast is for prices to drop another 24.9%, having only fallen 9.8% over the last year.  The bottom is expected to be in the Spring of 2010.  The median home is currently $329,000.  The change in foreclosure rate is forecast at 370%. 2.  Ft. Lauderdale, FL:  12-month forecast is for prices to drop 22.2%, after a drop of 17% over the last year.  Spring of 2010 is also expected to be the bottom.  Median home pr...
More About: Cities , Losses

Thomas Hoenig (KC Fed President): It’s About Time Someone in the Fed Get
2008-05-07 17:34:00
The Federal Reserve Banks of Kansas City’s President , Thomas Hoenig, is the first I have seen come out with an seemingly accurate comparison of today’s inflationary risks.  As I had mentioned a while back about the comparison of today’s economy with that of the late 1970s and early 1980s when interest rates went through the roof.  Hoenig added the same comparison in his speech yesterday. Fellow Fed Presidents Fisher and Kroszner have given dissenting votes lately, stating they think the Fed should stop cutting rates, however Hoenig steps out even further. Some would dismiss these rising inflationary pressures as temporary.  I believe they are more serious. Hoenig is obviously very concerned about where inflation is going, more so than most of the voting panel.  He talked about how energy prices have been trending higher over the last five years and that there are good reasons to believe recent runups in food and energy prices are not temporal. ...
More About: Time

Is Bernanke Backing Barney Fife, I mean Frank?
2008-05-06 05:38:00
The Federal Reserve released the transcript of this evening’s speech by Ben Bernanke at the Columbia Business School’s 32nd Annual Dinner, New York.  If you look deeply at its content it appears that Big Ben is backing up, or at least leaning towards, House Financial Services Chairman Barney Frank ?s approach to bailing out  ?underwater? ...
More About: Fife , Backing

Should the Government Clean Up the Mortgage Mess?
2008-05-06 05:32:00
Any time the government gets involved in a bipartisan intervention, you should be scared.  Their track record of successfully implement something both parties agree to is dismal, at best.  And right now, both parties are working to have the government intervene to clean up the mortgage mess. Let’s expand a bit and not limit the ...
More About: Government , Mortgage , Clean , Mess

Jose Canseco: Why the Rich Are Walking Away From Their Mortgages
2008-05-04 16:44:00
Jose Canseco is not your typical foreclosure scenario by a long shot.  However, he does represent what others like him are doing in increasing numbers these days, no matter how much money they make, even the wealthy. Jose Conseco was born in Cuba and raised in Miami, Florida.  During his famous baseball career, he was ...
More About: Rich , Walking , Jose Canseco , Mortgages , Jose

Big Brown Wins Kentucky Derby: Are You Winning That Rate Shopping Game?
2008-05-04 07:04:00
Many thought Richard Dutrow, Jr. was, dare I say, egotistical since he was saying this week that his horse, Big Brown , would win the Kentucky Derby .  Many thought he was overconfident and that the odds would prove that since they were against “inexperienced” horses. Nevertheless, Big Brown did pull off the win.  So, what does that ...
More About: Shopping , Game

Without Laughter, We Would All be Doomed
2008-05-03 02:27:00
I came across this video on YouTube that I just had to share with you all.  It is an excellent housing bubble parody and will certainly put a smile on your face (hopefully anyway) and break the bleakness that has overwhelmed out housing market.  Enjoy….
More About: Laughter , Fannie Mae , Doomed

Headlines: Subprime Crisis; Reality: Consumption Crisis
2008-05-01 23:22:00
Minyanville had a great post the other day, actually the quote was from an earlier post they quoted themselves, about an interesting perspective about the cause of the so-called subprime crisis.  Of course, the same can be said of the entire credit crunch and financial meltdown. ?I believe that in time, historians will define the ...
More About: America , Reality , Headlines , Subprime , Crisis

Fed Cut Rates Yesterday, Says Will Stop Causing Inflation
2008-05-01 23:06:00
Yesterday the Fed cut the Fed Funds Rate another .25%, bringing it down to an even 2%.  Good news for those of you carrying more debt on credit cards, and there are plenty of you out there, according to the data. But what is the real benefit behind yesterday’s Fed announcement?  Well, hidden in the wording ...
More About: Inflation , Stop , Yesterday , Rates

Money Merge Accounts: Why Does This Program Seem to be Everywhere?
2008-05-01 22:20:00
The Money Merge Account, a product of United First Financial, is becoming more and more popular these days, with even so-called “gurus” in the industry starting to back them up.   What you need to know is why. The Money Merge Account (MMA) has been around for several years, but seems to have grown legs in ...
More About: Program

Are You the Vulture or Are You the Prey?
2008-04-24 17:11:00
In this economy, one thing is for sure, you are either the vulture or you are the prey.  I am guessing most of you are the prey. Why?  Quite simply, you have not prepared yourself for a financial crisis in your lives; the impending job loss, increased cost of living, business going bankrupt, you name ...
More About: Real Estate Investing , Prey

Today?s Dilbert is Quite Fitting for Many
2008-04-24 15:44:00
With businesses going bankrupt at increased rates and more to come, today’s Dilbert cartoon strip may be more applicable than you think… Of course, it’s not my style to let this type of data go without it’s own post in relation to mortgages, so you can expect one soon.  Until then, laugh if you still can.
More About: Today

House Panel Ok?s Similar Bill Passed by Senate: Government Bailout Program
2008-04-24 04:37:00
Democrats (go figure) pushed a $15B bailout plan through today. The program will provide money to cities and counties in the form of grants and loans (suspect mostly grants).  The intent is so the local governments hit hardest by the housing crisis can become the new “flipping houses” investor, maybe even become landlords. Democrats argue that ...
More About: House , Government , Senate , Panel , Program

Quest For Lowest Rate and Fees Could Result in Identity Theft
2008-04-24 04:13:00
I am sure that many of you have already heard about those online mortgage places where you can have “lenders compete”.  You may even have heard some of the horror stories about how many unsuspecting borrowers to be filled out their forms, expecting to be contacted by up to four lenders (as the site says), ...
More About: Identity Theft , Fees , Quest , Theft , Identity

HELOC Delinquencies Rise: Lenders Freeze and Even Shrink
2008-04-21 20:23:00
Chances are that you have already heard that some lenders have begun freezing Home Equity Lines of Credit (HELOCs), but do you know how bad it is actually hitting some? HELOCs have long been used, even advocated, as an emergency fund, allowing homeowners to have “liquidity” while paying off their primary mortgage, other debts, or ...
More About: Freeze , Rise , Lenders

Mortgage Acceleration: Is the Latest Fad for You?
2008-04-19 20:20:00
Many of you know that I contribute over at Agent Genius, and that is what this particular post is about.  I added a post with the above title over at AG and rather than repeating the same content, I decided to just inform you about it and supply this link.  Take a moment and go ...
More About: Mortgage , Acceleration

Stagflation: Is It Now Obvious to Everyone?
2008-04-18 00:24:00
Stagflation is something I have talked about many times.  In the past it had been warnings about its oncoming.  Lately I have talked about its arrival.  Now that we have seen plenty of data, can we all agree it is here already? It amazes me to see articles saying that inflation is retreating, even while oil, ...
More About: Obvious , Stagflation

Mortgage Transparency Kills Mortgage Service: Will the Mortgage Industry?s
2008-04-16 21:38:00
The latest move in our industry, fueled further by its recent implosion, is that of transparency in the mortgage transaction.  For starters, I am all for that, though you may not feel that way after reading this.  Why?  Because of what transparency encourages. To truly understand what I am getting to, let’s look at what ...
More About: Industry , Service , Mortgage , Transparency

Federal Reserve to Blame for Global Financial Meltdown?
2008-04-16 17:41:00
Ron Paul slammed the Federal Reserve , and rightfully so, a couple of days ago.  Here is an excerpt from Lanka Business Online… “Few Americans give much thought to the Federal Reserve System or monetary policy in general,” Ron Paul wrote in his column this week. “But even as they strive to earn a living, and hopefully save ...
More About: Financial , Global , Blame

Walkaways Waste Wachovia?
2008-04-15 15:11:00
Wachovia reported disappointing earnings today and highlighted that homeowners walking away from their mortgages, particularly in California, were at least part of the reason.  They are certainly the reason Wachovia is cutting dividends. Calculated Risk discussed the Wachovia conference call and the remarks made by Don Truslow, the Chief Risk Officer… Don Truslow, Wachovia Corporation - SEVP, Chief Risk Officer Ken, that’s exactly right. And Kevin, it’s just this pattern almost that somewhere — I don’t know where the tipping point is, but somewhere when a borrower crosses the 100% loan to value, somewhere north of that and they presumably run into some sort of cash flow bump, whether it’s reduced income or kind of normal things in life that have created past dues before, their propensity to just default and stop paying their mortgage rises dramatically and I mean really accelerates up and it’s almost regardless of how they scored, say,...
More About: Waste , Wachovia

Florida Mortgage Report Refocusing Content
2008-04-14 22:12:00
At times, I have broken away from strictly talking about mortgages, real estate and the economy.  Well, the Florida Mortgage Report is going back to its core, focusing on exactly those topics and adding more thoughts on mortgage planning as well. It doesn’t mean I won’t be blogging about other stuff, just not here.  I am also adding a personal finance blog, called Fiscal Discipline, which will get started later this month.  It will be brining personal finance and investing topics that go beyond mortgages and real estate, though they won’t be left out there either.  The goal there is to help people understand how money works, basic and advanced financial planning and overall helpful topics to assist American families gain their financial freedom.  Once Fiscal Discipline goes live, I will provide all of the details, so don’t forget to subscribe to the feed so you don’t miss its launch date. In the meantime, and I will be getting ...
More About: Content