February & March Buyers: Have 08 Returns for Lender

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If you are anticipating buying a home in the next two months, you might have an addtitional reason to get a jump on preparing your 2008 tax returns. With lenders getting increasingly strict with income and asset documentation, it's a good idea to anticipate a a lender requiring your most recent tax … [Read more...]

Obama’s Homeowner Affordability and Stability Plan released

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The Obama Administration has released the Homeowner Affordability and Stability Plan, which the Administration hopes will help as many as 9 million homeowners in danger of foreclosure. There are three main components to the plan. The first is aimed at assisting homeowners that still have equity in … [Read more...]

Bad Banks good for you?

In the ongoing effort to free up liquidity in the financial markets, the Fed has pledged taxpayer money to fund (I will call them suicide) banks that will by and hold the toxic assets that are currently plaguing banks . These bad banks will buy and hold with the notion that maybe, just maybe, after … [Read more...]

Subprime Mortgage Fallout

The sh*t is hitting the proverbial fan as concerns about the subprime mortgage fallout grows worse. Subprime giants HSBC Holdings and New Century are projecting worse than expected losses as a result of defaults. The blame can be put on the defaults of piggy-back loans - second liens that are … [Read more...]