It seems like only a few weeks ago that mortgage rates were near all time lows, but now they’ve actually hit new lows. The new record low rate for a 30 year fixed mortgage is 4.71%. Much of the cause for this record drop is the historically sluggish housing market and government efforts to [...]
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7.5 million homeowners "underwater" CNNMoney had an article last week titled 7.5 million homeowners ‘underwater’. It’s primarily a breakdown, by state, of what percentage of mortgages are higher than the value of the underlying asset. The technical term for this is negative equity, but it’s also know as being underwater or upside down [...] In case you haven’t yet heard the term Liar Loan…. From Investopedia: “A category of mortgages known as low-documentation or no-documentation mortgages that have been abused to the point where the loans are sometimes referred to as liar loans. On certain low-documentation loan programs, such as stated income/stated asset (SISA) loans, income and assets [...] I stumbled on this video a few days back, and it made me wonder: how representative of the housing crunch is this guy? For those of you who haven’t heard of Casey Serin, he was a self made real estate speculator. A guy who watched a video, read a couple of books and [...] |
 
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