Archive | October, 2011

No Principle Reductions from Fannie Mae

After All, When You Have No Principles, Can You Really Spare It? Michael Williams, CEO of Fannie Mae recently told housing wire that Fannie does not engage in principal reduction. He stated that their toolset included interest reductions, term and then forbearance of principal.  But not principal forgiveness. Unfortunately, the writer did not have the […]

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Measure Your Local Economic Recovery – On Your Own

A new survey from MacroMarkets said that even though the housing market as a whole will not see any gains in the next five years, some areas are doing well and will continue to do so. This is not much of a surprise because these same areas have been doing well for ages. The areas […]

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Lazarus Come Forth!

It seems that Wells Fargo is capable of good will, even if it is motivated by embarrassment. In a recent report in the Chicago Tribune, David Lazarus reported that he had to personally intervene in a foreclosure situation for a couple that was doing everything possible to work out their mortgage and stay in their […]

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October 30, 2011

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Mortgages

Keep Your Eye on the Pea

Have you ever seen that shell game they always have in movies. You know, the guy takes bets from the crowd and all you have to do is guess which walnut shell is covering the pea. You get a lot of misdirection and razzle dazzle. Eventually, you realize that the pea is being palmed and […]

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Jobs and Housing, What Would Steve Do?

Article after article and opinion after opinion on how we should and could fix the housing crisis.  Unfortunately, there is very little understanding of complex causality. Some would like to argue that resolution of the housing crisis is the key to overcoming the economic issues of the United States.  Others believe it is jobs. However, […]

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It Is the Debtor Who Is Ruined by Hard Times

Well, it has started. New private equity firms are springing up that specialize in deficiency judgments. What is a deficiency judgment? That is when you have a home foreclosure and your former property sells at auction for pennies on the dollar. The difference in the sale amount and the original amount owed is the deficiency. […]

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May You Live In Interesting Times

Economist Robert Wiedemer predicted the housing meltdown that occurred in 2008, right down to the conditions that set it off. Now, he has even worse news, that the meltdown we have experienced is just the tip of the iceberg. He cites four reasons that the housing meltdown is just the beginning of a long term […]

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The Iceberg Loometh

Remember my recent analogy about the situation with Apple?  Well, I can’t help but pat myself on the back for such an incredible selection of arbitrary numbers. I said that certain events would take place if apple were to make a mistake and put 10 million IPADS into the general market in a short period […]

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Five Fundamentals of Making a Real Estate Deal

In real estate today, it is pretty well known that it is a buyers market. Having said that, if you are inexperienced at putting a deal together, it would behoove you to know that you can easily blow an otherwise gettable deal if you don’t present an offer properly. Here are 5 things to consider […]

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Breaking News?

According to the latest news from the Associated Press and MSNBC, home ownership is at its lowest point since The Great Depression. In other news, the Japanese bombed Pearl Harbor and the New York Trade Center is no longer standing.  Film at 11… Highlighted statistics in the MSNBC feature were the low level of home […]

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