This was a very interesting 60 minutes story. I’m not posting it to spread bad news, but rather to provide some background on the sub-prime mortgage issues that are partially responsible for all of the foreclosures we are seeing today, and also a look at what may be coming, and why I have spent so… Continue Reading
Category Archives: Mortgage
Mike’s Remarks on April 2009 – Atlanta Real Estate Market
Mike’s Remarks on April 2009 Atlanta Real Estate Market Statistics…. Continue Reading
Update on Wells Fargo Home Affordable Refinance
Personal Update on the Home Affordable Refinance through Wells Fargo…… Continue Reading
Employment Consequences of Foreclosure vs Short Sale
While earning my Certified Distressed Property Expert designation, I learned a few surprising consequences that a foreclosure can have on a person’s employment situation that I thought would be important for people to know. The table below highlights a few Employment issues that a person facing foreclosure may encounter and illustrates how those consequences can… Continue Reading
Foreclosure vs Short Sale – Credit Score Consequences
Did you know that having a foreclosure on your credit report may lower your credit score by anywhere from 250 to over 300 points and will typically affect your credit score for over 3 years? This, along with the fact that foreclosure will remain as a public record on a person’s credit history for 10… Continue Reading
Bank of America and Suntrust Home Affordability Refi Status
B of A and Suntrust Taking Applications now for Home Affordable Refi according to the Wall Street Journal… Continue Reading
Home Affordable Refinance – Wells Fargo Update
I was told today that Wells Fargo would be ready to implement the Home Affordable Refinance within the next 3 weeks…. Continue Reading
Mortgage Interest Tax Deduction Is At Risk!
President Obama’s Budget Proposal includes eliminating the ability for those households making over $250k to take itemized deductions on their tax returns. A major benefit of home ownership is the ability to write off mortgage interest which happens as an itemized deduction. This is a slippery slope… Continue Reading
Want to See if You Qualify for the Home Affordable Refinance?
Links to help you determine if you can refinance under the Obama Administration’s Making Home Affordable program…. Continue Reading