Archive for June, 2007

“If you put your mind to it, you can accomplish anything.”

Friday, June 29th, 2007

An article in the Baltimore Sun looks at the problems of today and sees many similarities with the problems of years past.

“It’s really back to the future,” said Paul E. Skeens, owner of Carteret Mortgage Corp.’s branch in Waldorf. “We’re headed back to a more normal cycle [after the feeding frenzies of the boom years]. The crazy stuff may be gone, but the old solutions still work great.”

The article highlights tried and true solutions for borrowers in a post-boom market, including Freddie Mac and FHA loans, reassuring weary souls that all is not lost. All that’s missing is the Flux Capacitor…

The Many Faces of FHA

Thursday, June 28th, 2007

If you’re looking to learn about some of the FHA programs other than a traditional mortgage, check out “FHA Lending: More than your Average Mortgage” over at Smart Money Daily. There are informative blurbs about FHA Refinancing, Diaster Relief, Energy Efficient Mortgages, and Rehabilitation Mortgages.

To learn about even more programs, visit the government’s FHA website.

The Subprime Troubles Never End…

Wednesday, June 27th, 2007

MSNBC Money is reporting on an SEC investigation into the selling off of subprime debts.

Christopher Cox, chairman of the SEC, told a congressional panel that the regulator was investigating a dozen subprime mortgage issues, including collaterallised debt obligations (CDOs), which are repackaged pools of debt sold to investors.

I foresee more trouble on the horizon…

O-hi-NO

Friday, June 15th, 2007

Ohio is leading the nation with 3.54% of the states 1.4 million mortgages in foreclosure. The national average is 1.28%. Insert comment on how FHA reform could allow for refinancing for many of these people and save the day.