Archives for the 'Mortgage' Category
Credit Repair and Your Mortgage Rate
Be Prepared!
Do you plan to apply for a mortgage soon? Here is a discussion of the latest change in the way the mortgage industry determines your interest rate, and what you can do about it.
Mortgage Time
Your mortgage is probably the largest financial obligation in your life; and the interest rate on your mortgage can have […]
Florida Mortgage: Wake Up Call
No Exaggeration
There are a staggering number of Florida mortgage customers that will be impacted by the changes in the mortgage industry. Maybe you have heard that twenty percent of all homes purchased nationwide in recent years were purchased using subprime mortgage products. The Florida real estate market is one of the most active in the […]
Florida Mortgage: Just Another Cycle
Do you remember the NASDAQ stock market boom of the late 1990s? In March of 2000 NASDAQ hit its high of 5100. Stock market investors were thriving. Hundreds of thousands of people across America had quit their jobs to become day-traders. Many more had invested their savings and were celebrating the dream of certain wealth. […]
Credit Repair: Act Now
There is a Lot at Stake
Are you a sub-prime borrower? Chances are that you have had credit issues in the past. There are many reasons for you to make credit repair an immediate priority in your life. There are also many reasons that you might hesitate. Credit reports are not fun to read. Past credit […]
Credit Repair and the American Dream
A Great Investment
Home ownership has always been considered an integral part of the American Dream. Over the last fifty years those that were able to realize this dream have experienced a great financial benefit. Home ownership, in fact, has contributed more to the wealth of the individual than any other investment. But there is another […]
Florida Mortgage: A True Story
How Quickly We Forget
You might be surprised to hear that the Prime Rate was at twenty percent in mid 1981. This seems amazing by today’s yardstick. Oddly enough, this was not an aberration for those times. Inflation was running high and the Federal Reserve was trying to contain those forces. Mortgage rates virtually mirrored the […]
Florida Mortgage: The New Option ARM
Tempting Low Payments
Until recently borrowers using option ARMs would face the immediate reality of negative amortization. Starting with their first monthly bill they would be given the option of making a super low mortgage payment, far less than the full amount of interest due. In most cases this low payment option would be less than […]
Florida Mortgage: The Perfect Refinance
The Good Old Days
Ah, remember the good old days when the Federal Funds rate was 1% and the Prime Rate was 4%? This was the case in 2004. It’s amazing what a couple of years can do. The change began in June of 2004 with the first of the Federal Reserve rate hikes. We didn’t […]
Florida Mortgage: First Time Home Buyers Rejoice
The End of an Era
In October of 2006 the subprime home loan industry begin to break down. Wall Street investors, monitoring the default rates of mortgage portfolios and concerned about the continuing drop in real estate prices nationwide decided to stop purchasing subprime loans. By March of 2007 the entire subprime industry as we knew […]
The Florida Mortgage Credit Crisis
A New Environment
Over 20 percent of all mortgages originated from 2004 through 2006 were subprime mortgages. The subprime lenders that funded these mortgage have recently gone out of business or eliminated their subprime program line. Mortgage expert Jim Kemish discusses the potential impact.
The End of the Subprime Industry
In late 2006, as real estate values continued to […]