June 23rd, 2008
In late 2006 the economy was showing indicators that pointed to a looming mortgage crisis that would ultimately disrupt the flow of business in the secondary market. Investors, who are essential to the flow of money, basically ignored the warning signs but began trading more cautiously. What they ignored was the “perfect storm” as it relates to our secondary mortgage market. The housing bubble burst, sub-prime loans began adjusting, investors stopped trading, and mortgage companies were left holding mortgages that were not worth what they paid for them. Read the rest of this entry »
Tags: housing bubble, secondary mortgage market, sub prime loans
Posted in Discussion, Mortgage Crisis Blog | No Comments »
June 18th, 2008
Credit card issuers are reacting to the recent trend of lower credit scores across America. In the wake of the current mortgage crisis consumer’s credit scores have been steadily falling in certain segments of the population. This means that the competition for credit cards for fair credit is heating up between the bank issuers and this means better deals for consumers. We have outlined, what we feel, are the best credit cards for fair credit on the market below. Read the rest of this entry »
Tags: credit card for fair credit, Credit Cards, credit cards for fair credit, credit cards for people with fair credit, Discussion, fair credit credit cards
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June 16th, 2008
Many people believe that the best mortgage deals are no longer available for the average consumer that is shopping for a mortgage in today’s economy. That may be true if you cannot prove your income or have had a bankruptcy in the last two years. However, if you are the average Joe with a few dings on your credit, and are looking to buy a new home, the best deals are still out there. The truth is, they have always been there. The Federal Housing Administration (FHA) has been helping the average consumer get great deals on mortgages since the 1950’s. Read the rest of this entry »
Tags: best deal for a mortgage, best morgage deal, best mortgage deal, best mortgage deal available, best mortgage deals, Discussion, Editorials/Articles, FHA Mortgages, Loan Programs, Mortgage Tips
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June 13th, 2008
FHA Closing costs differ from conventional mortgages by the amount the lender can charge and the amount of insurance coverage homeowners are required to have. FHA mortgages are the last of the government sponsored mortgages. Fannie and Freddie started out as a government charter but privatized over a decade ago. Since FHA is government operated, there are specific safeguards which have been designed to protect borrowers from paying too much closing costs. However, as is the case with most government programs, there’s loopholes. Read the rest of this entry »
Tags: closing costs, Discussion, fha closing costs, FHA Mortgages, Mortgage Tips, typical closing costs, unnecessary closing costs
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