Posts Tagged ‘exotic mortgage’Fannie and Freddie Have Been “Saved” — Now What?The former Goldman Sachs employees — err, the federal government — have decided to bail out Fannie and Freddie and the race to call another bottom in equities, not to mention housing, is on. Reality, however, is not a friend of these hopeful bulls. Let’s take a quick scan of the economic landscape and see [...] HOPE when?Cirios Real Estate Washington’s war on foreclosures, the latest in a string of sycophantic attempts to sway public opinion back in the favor of the very regulators that turned a blind eye to rampant irresponsible lending, is now being waged with carefully crafted press releases. In the past two days, strikingly contradictory reports have emerged [...] House of the Day Results: Swinging into StantonClick here for details on this House of the Day. Value: $350,000 Projection: Depreciating The subject property is located in Orange County, which is experiencing a slump in the local economy due to the collapse of the mortgage market. In addition, the subject should expect to see further declines in value because it has only [...] New Mortgages … Rule!Below are some details on the Fed’s proposed new mortgage rules courtesy of Briefing.com: New final mortgage rules ban prepayment penalties if payment can rise in first 4 years. New rules create category of ‘higher-priced mortgages’ including virtually all subprime loans. Lenders must verify repayment ability from income, non-home assets for higher-priced mortgages. Lenders must [...] House of the Day Results: Stuck on StocktonClick here for details on this House of the Day Value: $120,000 Projection: Depreciating Stockton is arguably the most publicized declining real estate market in the United States. Foreclosure and REO (Real Estate Owner, or Bank Owned) activity is very high, and values have declined precipitously in the past 12 months. The subject’s neighborhood itself [...] |