Nationwide Home Mortgage Loan Company

Everyone by now is aware of the looming mortgage crisis and has probably added their two cents as to its cause and effect on the financial world. Having been in the mortgage business a little over ten years I have read most of the press that is covering this historic event in America and I thought I would chime in as well. As a result of the controversial headline I assume that most of the people that will read this column will do so predisposed to hate it or love it. Either way, I hope you continue reading as I feel it will shine a light on this subject that is often neglected. (more…)

Lendfast.com - Few people realize that the sole purpose of the Federal Housing Authority (FHA), when it was initially created in 1934, is to insure lenders and to promote home sales. Before FHA, first time home buyers would have to live with Mom and Dad until they saved up a 20% down payment on their first home. FHA revolutionized the housing market by insuring the loans that lenders made and allowing down payments as low as 3%! (more…)

National home sales rose 2.9% in February giving hope to the nationwide slump in house sales. Savvy home buyers are beginning to realize that one man’s misfortune can be another man’s fortune. Foreclosed homes are the main force driving this welcome birth in new home sales. Some markets like Las Vegas are reporting that foreclosed homes make up as much as 40% of reported sales in the real estate market. (more…)

Are mortgage brokers being forced to close by the larger banks on purpose?As smaller brokers and banks dwindle borrowers are seeing less alternatives to have to deal with “Big Brother Bank”. What will service and prices be like when we only have 5-10 banks to choose from? (more…)

Slowing foreclosures have given a spark of optimism to investors on Wall Street who see the trend beginning to slow down. For the last year the foreclosure rate has steadily risen month by month over the previous year’s month of foreclosures causing speculation of a continued trend in homeowner foreclosure rates. RealtyTrac, an online marketer of foreclosure properties, said “that foreclosures fell to a 5% increase from a 6% increase in foreclosures the previous year” causing speculation of brighter days. (more…)