Home Mortgage Guide

 
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MERS-O-RAMA
MERS: Great explanation on how MERS works and the lawsuit – The Mortgage Machine Backfires – By GRETCHEN MORGENSON – NY Times
and Gretchen Explains MERS For You - Barry Ritholz -  Talk about burying the lead: Gretchen Morgenson does a nice job today explaining the MERS situation, though the best stuff in the article is at the …
Read Rest of Markets: More on MERS, Farewell Dollar, 21st Century Protectionism, CDS Curves Normaliize, Financial Rally, Hello G-20

Too Close For Comfort – Dan Gerstein – A new article reveals a coziness between banks and regulators. – Stewart recounts the first full face-to-face briefing on the crisis that President Bush received from Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke … In response, Bush asked “How have we come to the point where we can’t let an institution fail without affecting the whole economy?” … That’s the real story that has yet …
Read Rest of Government: Banks & Regulators, Bailout Tally, Linda Lowell on Fed, US- China, FHA Reserves Tumble

Out here in California, some in the business have been following the case of 28-yr old Garret Gililland III. Originally from the Sacramento area, he was just captured in Spain and brought back to California to face charges of a 0 million mortgage fraud ring. In yet another example of what seems to make the headlines for mortgage brokers, Gililland fled in June 2008 with at least 0,000 in cash. (And let me tell you, getting that much cash from conventional sources is not easy.) He, his wife and their 3-year-old daughter went …
Read Rest of Two clubs for small mortgage banks; Freddie pushes back 10/1 changes; GMAC steps in to TBW role

A Los Angeles Times editorial (Sept. 27) on the future of Fannie Mae and Freddie Mac includes positive words about the potential role of covered bonds in U.S. home financing.
In the editorial’s view, the two government-sponsored entities’ “mix of public mission and private ownership is too combustible to be sustained.” Instead, the federal government should give the private sector a chance to sustain the secondary mortgage market after the current wave of foreclosures, “either by cutting its ties to Fannie and Freddie [i.e., fully privatizing them] or …
Read Rest of Mercy Jiménez Presents: L.A. Times Editorial on Future of Fannie & Freddie Has Good Words for Covered Bonds

by Ryan Boon
Big Bear Lake has been my home for many years. I also make a living dealing in Big Bear Lake, CA homes for sale. The mountain retreats I sell are great in and of themselves with their charming construction. But another bonus with these homes for sale is the fact that they are located in Big Bear Lake, CA.
Because Big Bear only has around 9,000 full time residents, it is very quiet up here during the week. If you want to go out to dinner or catch a movie, there is never a wait. I love the ability …
Read Rest of About Big Bear Lake, CA Homes For Sale

If you are a Chicago 1st time home buyer you need mortgage advice you can count on. Call 773-305-LOAN for a free quotation without obligation on a Chicago 1st time home buyer mortgage or mortgage refinance.
Planning ahead is a great idea, especially if you have never helped anyone else shop for their first home, or never been part of the experience. Sure, it looks fun and easy on television, but shopping for your first home can be stressful if you don’t know where to look.When shopping for your first home in these times, you might be overwhelmed by …
Read Rest of Advice for Chicago First Time Home Buyers

Mortgage rate update — the deal of a lifetime – Scott Grannis -  Calafia Beach Pundit  ————

Home Inventory Measure Falls to April 2007 Level – Mark Perry’s Carpe Diem Blog  ————

Taylor, Bean …
Read Rest of Mortgage and Housing Related: Rates, Inventories, TBW – Freddie, 7 Million Foreclosures, Housing Prices, First Time, Subprime Delinquencies 50%

 
 
Consumer Confidence at Highest Level Since January 2008, Largest 6-Month Gain in 15 Years – Mark Perry Carpe Diem Blog
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Can You Spend Your Way Out of Recession? – “You can’t spend your way out of recession” is a sound bite heard almost every day on financial TV. Recently a guest commentator combined that sound …
Read Rest of Economy: Consumer Confidence, McTeer on Spending, Venezuela Screw Up, Name Your Poison

The Globe & Mail reports from Canada. “For the throngs wandering through open houses this weekend, it may feel as though they fell through the looking glass while they were peering into closets. The downturn seems like a bad dream. Housing prices have rebounded, formerly gun-shy buyers are back on the market, and bidding wars abound. Has real estate got its boom back? 24-year-old…first-time buyer Chelsey Perrella…has been looking for a townhouse or apartment with her boyfriend for the past three months, and she does the open-house circuit most weekends in Vancouver’s popular Kitsilano and Fairview neighbourhoods.”
“‘We didn’t …
Read Rest of Prisoners In Our Own Homes

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Read Rest of Bits Bucket For September 27, 2009