Nationwide Home Mortgage Loan Company

It’s the same ole same ole, sound-bites and finger pointing as to who can solve the mortgage crisis plaguing American homeowners. During an election year it’s harder than usual to separate the malarkey from the earnestness of the politicians on this matter. Each side is shucking and jiving or running and hiding from the real issues facing America directly resulting from the subprime mortgage crisis. Let’s look at both sides of the aisle. First a disclaimer, I am fiscally conservative but I am attempting to be nonpartisan in this piece, shoot me a line if I miss the mark. (more…)

Here are a few of the biggies ….

1) The No Closing Cost Loan
Let’s think logically about the “no closing cost” loan. Do you know an attorney that works for free? How about an appraiser? Perhaps state and local taxes will be waived because were nice people. Title fees, processors, underwriters, monthly escrows and much go into putting a mortgage together REGARDLESS of who you choose as your lender. The “No closing cost loan” should be called the “we hide your closing cost in an inflated rate loan”. The truth is ALL mortgages have fees associated with them, if you do not pay them the lender or broker must. (more…)

The mortgage crisis has had a negative impact on everyone, not just homeowners. Elected officials are working hard to pass legislation that is designed to prevent future banking debacles. Unfortunately, history has proven that when legislators over-regulate banks that it tightens the reins on lending. This is done by raising the bar on what it takes to qualify for a mortgage or installment loan. Predictably, it’s the middle class that will feel the pinch more than anyone. Specifically, it’s the middle-class, self employed small business owner that be injured the worst. (more…)

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…)