Monthly Archives: September 2009

On the 1-year anniversary of the Lehman Brothers collapse, Fed Chairman Ben Bernanke said Tuesday that the “recession is very likely over at this point”. His comments were supported by a Retail Sales report for August that was much better-than-expected. … Continue reading →

As downpayment requirements increase, anecdotally, home buyers are tapping 401(k) plans for extra cash. Classified as a “hardship withdrawal”, loans against your retirement funds can be cheap and simple. There’s no credit check or approval process There’s only a small … Continue reading →

Mortgage markets improved last week, briefly touching their best levels in 3 months. However, a rough Friday afternoon took away some of those gains. Mortgage rates touched their lowest levels of the week Friday morning before tacking on an eighth-percent … Continue reading →

Since 2007, mortgage lenders have clamped down in many areas of underwriting, but none more so than in the area of credit scoring. Minimum FICO levels are up 120 points or more and conforming mortgage lenders now levy large fees … Continue reading →

Once again, the country’s foreclosures are concentrated in just a few states. As reported by foreclosure-tracking company RealtyTrac.com, more than 50 percent of the country’s foreclosure-related actions in August occurred in just four states: California : 25.76 percent Florida : … Continue reading →

By its most common definition, a quitclaim deed is a document by which one person passes legal and financial ownership of a home to another person. It’s also a way for an owner of a home to remove himself from … Continue reading →

Mortgage markets improved slightly last week overall, but closed out the week much worse from the best levels of the week. On Wednesday, briefly, mortgage rates touched an 8-week low. Following that, mortgage rates began to climb and stayed on … Continue reading →

Volume figures to be light on Wall Street today as traders get a head start on Labor Day weekend. It could make shopping for a mortgage a bona fide challenge. Expect rate volatility this morning and afternoon and, therefore, by … Continue reading →

There are two ways to boost your personal cash flow — increase your income or reduce your spending. The former can be a challenge but the latter doesn’t have to be. The headline of the above video — “Cut Your … Continue reading →

In what’s becoming a regular occurrence, housing data blew away economists expectations Tuesday. As reported by the National Association of Realtors