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New E-Book Coming Out
2008-06-07 14:45:00
In the next month or so, I am going to finish a book on how the economy affects mortgages rates.  I believe every mortgage professional, and any other professional in the industry who wants to show added value, needs to know how economic data, events, etc. impact mortgage rates and why it is so important ...
More About: Book , E-book , E Book

Just How Hard is It to Make Money?
2008-06-06 20:55:00
You know I am an advocate of investing versus paying off your mortgage, at least until you have your entire financial and investment plans fulfilled.  You know that the reasons come down to liquidity, safety and rate of return, the latter being the point I am going to target today. Most Americans, and especially those ...
More About: Money , Make Money , Hard , Make

Was the Jobs Data Misleading? Does It Really Matter?
2008-06-06 17:00:00
This morning saw the release of what is coned as the "Jobs Jamboree", the monthly data on what is happening in the jobs market.  Several reports come out showing employment data, including that on wages in general.  All of this data affects your mortgage rates indirectly. Just what did the data show this morning and ...
More About: Data , Matter

Blogging To Return to Normal Tomorrow
2008-06-06 06:10:00
That’s right, I am finally banging out the last 2,600 items from Outlook and heading into the writing blog posts again territory.  I will also be getting back to those of you that fell into the "follow up" category. As I stated before, I will be covering my viewpoints on several things that happened over ...
More About: Blogging , Return , Tomorrow , Normal

Florida Mortgage Report Turns 1!!!
2008-06-05 07:01:00
It was one year ago today that I launched the Florida Mortgage Report , though not at this location.  It has been only a few months with its own domain, yet it has a Google PR of 3, so I am excited about where this domain and the Florida Mortgage Report will be by the end ...

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