By The Tim on February 16, 2010
Received this via email from an industry insider. It’s a letter from Wachovia Mortgage offering a $5,000 cash incentive to the a (presumably underwater) mortgage holder if they complete a short sale within 60 days. Click either image to enlarge.
Quoting in part:
These are challenging times and many people feel they are running out [...]
Posted in National, News | Tagged banks, mortgages, short sales, Wachovia
By The Tim on July 2, 2009
Astute readers have no doubt have learned by now of yesterday’s announcement by HUD Secretary Shaun Donovan that the federal government’s “Making Home Affordable” plan will now allow mortgages owned or guaranteed by Fannie Mae and Freddie Mac to be refinanced with loan-to-value ratios of up to 125%.
I won’t go into all the details of [...]
Posted in Features | Tagged Fannie, Financing, Freddie, mortgages, refinancing
By The Tim on March 29, 2009
Please vote in this poll using the sidebar.
This poll will be active and displayed on the sidebar through 04.04.2009.
Posted in Polls | Tagged Interest Rates, mortgages, Polls
By The Tim on March 9, 2009
A couple people forwarded me a link to a 116-page pdf titled An Overview of the Housing/Credit Crisis And Why There Is More Pain to Come that is worth checking out.
Here’s a look at the table of contents:
Overview of the Great Mortgage Bubble
Causes of the Great Mortgage Bubble
Consequences of the Bursting of the Great Mortgage [...]
Posted in Economy | Tagged Economy, mortgages, pdf, predictions, subprime
By S-Crow on November 25, 2008
Our resources tell us phones are ringing off the hook.
I’m hearing rates for purchases and refi’s are anywhere from 5.25% to 5.125% at par. Earlier this year, I sent out an APB for people who are waiting for super rates. Here they are again. Let me know off-line if you would like a reference [...]
Posted in News | Tagged Interest Rates, Legacy Escrow Service, mortgages
By The Tim on November 10, 2008
As astute market observers may recall, back in March (pre-complete-government-takeover) the conforming loan limit for Fannie Mae and Freddie Mac-backed loans was bumped from $417,000 to $567,500 for the Seattle area (King, Pierce, and Snohomish counties). At that time, the local press was touting the new limits at “a big dose of first aid” [...]
Posted in News | Tagged Fannie, Financing, Freddie, jumbo, lending, mortgages
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