To Mortgage or Not to Mortgage
When I have a chance, I listen to the Ray Lucia Show on Bloomberg AM radio, which is a call-in show for people to ask questions on financial investment strategies. One call struck my interest, so I want to share it with you as well and give you an example of how I...The October 9th Coincidence
The overall intention of the Rescue Plan was not just to create liquidity in the marketplace, but more importantly to promote consumer confidence. So far, it’s not working… Both the stock market and the bond market have been hit extremely hard. Rates have...What is “APR”?
APR is short for “Annual Percentage Rate.” The APR is the percentage figure that expresses your total cost of obtaining and financing a loan, i.e. what you’re truly paying for that mortgage. The APR is the percentage figure that takes the true Note Rate (the interest...Conforming Loan Limits Decreasing: “Must Close By” Date Moved Up
I’ve mentioned in a previous post (August 7th) that conforming loan limits are set to decrease in January 2009. In high-cost counties, this means a decrease from $729,750 down to $625,500. We knew that this loan limit was temporary and set to expire on December...The $700 Billion Bailout Plan: Part Deux
The government’s rejection of the $700 billion bailout plan came as a shock on Monday, causing the Dow Jones to plunge in the single largest loss in its history. The Senate is set to vote tonight on a revised rescue plan, which includes increasing FDIC insurance...The $700 Billion Bailout Plan: Who, What, When, Where, Why
Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson are set to testify to the federal government for their $700 billion bailout plan. They’re trying to sell the plan and get it approved so that our federal government will BUY all the bad loans that...Certain CalHFA First Time Homebuyer Programs Suspended
This is unfortunate news that came quickly and unexpectedly. CalHFA is a state-specific governmental agency that helps first time homebuyers get into their first home via down payment assistance programs and other solutions. CalHFA has been instrumental in helping...Credit Reporting 101
In this credit crunch, lending is becoming much more credit-driven and minimum required credit scores of 680+ or 700+ are the norm. Your goal should be to get in the 700 range, but the higher the better. (Credit scores range from 350-850, 850 being the highest one can...In the Market: The Bad, the Good and the Unchanged
What a week so far in the financial sector… Lehman Brothers declared bankruptcy, Bank of America saved Merrill Lynch from bankruptcy by acquiring it and AIG was bailed out by the federal government. These are huge, far-reaching global investment companies and...Loan Calculator
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