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Credit

Credit

July 4th Foreclosures: Congress Celebrates, Homeowners Vacate

by Charles Feldman | July 2, 2008

To just about no one’s surprise, the U.S. Congress failed to act on a foreclosure prevention measure before closing down for the long July 4th weekend. And, some think the Congress won’t do all that much once the weekend is over, either.

A New York Times estimate is some 55,000 more homes will be in foreclosure [...]

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Credit

Turning the Real Estate Ship Around: Why It Hasn’t And How It Can

by Charles Feldman | May 21, 2008

Okay…so what’s wrong with this picture? In communities all across America the value of homes has dropped faster than the New Year’s Eve ball in Times Square. Lower prices should mean bargin prices. Bargin prices should mean people jumping back into the housing market.
People jumping back into the housing market should help inflate the value [...]

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Blogs

Brave New (Real Estate) World

by Richard Warren | April 14, 2008

When we the real estate market return to normal? When will things go back up? When will I be able to get $0 down loans again? How long will it be before I am able to get a loan I can’t afford? When will I be able to go back to flipping my way to [...]

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Credit

Fed Rate Cut – The Good, The Bad & The Ugly

by Richard Warren | March 18, 2008

There is a law in physics that says: For every action, there is an equal and opposite reaction. The same is true is a rate cut by the Federal Reserve. Many people get excited when the Federal Reserve cuts a key interest rate. They somehow see this as a magic bullet that is going to [...]

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Credit

FHA Flexibility May Not Be Worth the Time!!!

by Milton B. Yates | March 18, 2008

You have to love the amount of flexibility there is when running a deal FHA but more often than not, there are too many things left undone that cause major hiccups in the final stages of any transaction.
Technically, many of these hiccups are because of the lack of attention to detail on the [...]

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Commentary

Are They Serious? Fed Takes Mortgage Debt as Collateral, Bear Stearns Gets Bailout, and President Bush is Confident in the Economy!

by Joshua Dorkin | March 14, 2008

This week has been an extremely volatile one in the world of real estate and the economy. We’ve seen Gold at $1,000 an ounce, a collapsing dollar, oil skyrocketing, an much more. Of everything that has happened, probably the most shocking is what came out of the Fed this week . . .
According [...]

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Commentary

It’s the economy stupid! Or is it the stupid economy?

by Richard Warren | March 3, 2008

Last week President Bush and Federal Reserve Chairman Ben Bernanke both expressed the view that the economy is not headed for recession. With the credit markets in turmoil, housing slumping badly, oil prices soaring, the dollar plummeting and inflation rearing its ugly head, how can they be so optimistic?
The reason is simple; they can’t afford [...]

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Credit

Evidence Shows Mortgage Crisis Rapidly Spreading To All Areas of US Economy

by Charles Feldman | February 13, 2008

If you are a home owner, chances are pretty good you used your home as a sort of ATM with patio chairs in recent years to help pay for all those nifty goodies we Americans love to purchase whether we need them or not.

Well, the evidence now strongly shows the party is over!
The impact of [...]

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Credit

Mortgage Fiasco Credit Crunch Spreads To Best Borrowers

by Charles Feldman | February 6, 2008

Once upon a time, having sterling credit meant that banks and other lenders valued your business.
No more.
The subprime mortgage mess is now impacting even those who spent years building up their credit record, because banks are running scared.
A just released Federal Reserve study shows that: “About 55 percent of domestic respondents indicated that they [...]

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Credit

How to Score Big! The Truth Behind Credit Reports and Your Credit Score.

by Michael Creel | January 30, 2008

As interest rates continue to plummet millions of Americans will flock to their lender to refinance and many of those will find that their credit scores prevent them from taking any real advantage of those new low rates. Borrowers that financed when rates were low previously, and their credit scores higher, were able to get [...]

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Blogs

Getting Your Own House in Order

by Richard Warren | January 29, 2008

I see so many people who are just itching to be real estate investors. However, a common theme seems to be “I want to buy and rehab a house but I don’t have any money.” Not only are they lacking funds for investment, they have little or no income and are hopelessly in debt. Then [...]

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Commentary

The Mortgage Crisis and The 08 Presidential Candidates of Change

by Charles Feldman | January 7, 2008

As the never ending presidential debates go on and on and on and on and on and on — and on, it only seems fair to find out what the candidates think about the expanding subprime mortgage/housing/credit/banking/stock market/unemployment/recession crisis (or, SMHCBSMUNRECR, for short) we currently find ourselves in. But, since none of the YouTube [...]

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Credit

How to Determine Your Net Worth: Is it High, Low or Average?

by Joshua Dorkin | May 21, 2007

Real estate investors, like everyone else, should be aware of their net worth. This value is extremly important because it allows us to gauge if our complete financial value is increasing or not. The average American doesn’t know how to save money, and typically has a very low net worth; many people [...]

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Credit

Lenders Taking Steps to Improve Image Problems

by Joshua Dorkin | December 9, 2006

In an attempt to improve their image problems (Note: all lenders have image problems thanks to a little thing called the real estate bubble), Wells Fargo has implemented a program that actually benefits consumers! They have targeted the sub-prime lending market, which has been a source of increased concern for consumer groups and now, [...]

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Credit

Beware of Fake Credit Report Sites

by Joshua Dorkin | September 30, 2006

Our credit report is part of who we are. It details our financial history to lenders and mortgage companies, banks, and credit card companies. In order for most people to buy or lease a car, obtain a credit card, or purchase or refinance a home, they must be sure that their credit is [...]

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