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Recently, we’ve seen multiple news stories suggesting buying a home and having a mortgage is not necessarily a good investment, and when making the decision to buy a home, you really should not consider it as an investment vehicle since your “rate of return” would suck. Why has this become a news-cycle theme all of a…
Dennis House interviewed the Connecticut Chair of the Democratic Committee on Face The State. The short hand version is in the post title. Nothing to see here … move long. httpv://www.youtube.com/watch?v=UCGiOinRORc This might be what she hopes, but not likely. Flashing mortgage papers in front of reporters who likely know as much about finance as…
A proposal to hand out $3,000 to individuals who did not have good enough credit score to qualify for mortgages has been crossed off the Houston city council agenda this week. The idea was to use the $3,000 to help individuals improve their credit score by a few points so they would qualify to buy…
I’m fully on board with blaming Democrat lawmakers in Washington for contributing to the mortgage crisis that started with Freddie Mac and Fannie Mae. Republicans introduced legislation that would more closely regulate the government sponsored entities (GSEs). Democrats – including Barney Frank (D-Mass.) – blocked that legislation, all but calling those asking for the changes…
There is quite a bit of blame going on concerning the so-called subprime loan crisis. Depending on who you speak with, it’s either the predatory lenders that took advantage of people, or it was the people who signed the contract that clearly stated they were buying into an adjustable rate mortgage, but just didn’t care.…
These reports are based on two different measures, new housing sales and existing housing sales, but tell me if there is a difference in the way the economic news is pitched.
Sen. Chris Dodd (D-Countrywide) has announced that he will refinance his mortgages through a third party and switch them to a different broker. Dodd maintains that he was not a friend of Angelo, and has been wrongly accused of requesting favorable rates from Countrywide. I assume that the Senate Ethics Committee investigation continues. Guess he…
As I walked through the living room just now, I heard talk of a 4.5 percent fixed rate mortgage on Fox News. Financial industry lobbyists are knocking on Hank Paulson’s door at the Treasury Department with a plan in hand to lower interest rates to help “stabilize” the housing market. Will everyone be able to…