It makes sense. If we are to believe that there is a simple preventative measure which will reduce the chances of another mortgage market meltdown, “skin in the game” is a good place to start. Getting rid of 100% financing is a foregone conclusion. But what about the 97%, 95%, and 90% loans? It requires little change in the market …
Left Out In The Cold?
The help that the Federal Government has pumped into the economy may take a awhile to help home-buyers and those seeking to refinance. The Sunday Seattle Times included an article by Jeff D. Opdyke and Jane J. Kim of The Wall Street Journal. Very good insights as to why we are not seeing conforming 30 year fixed rate mortgages drop to near 5% …
The Mortgage Professor
Jack Guttentag, aka “The Mortgage Professor”, is a syndicated columnist to the Seattle Times. He has often referenced his website: http://www.mtgprofessor.com/Default.htm. Today, I finally decided to pay a visit, as I am considering the alternatives available to me for refinancing my current Jumbo mortgage. There is a lot valuable information there. It is more important than ever to thoroughly research …
Mortgage Mess: Light at the End of The Tunnel?
Jack Guttentag, aka “The Mortgage Professor”, provides some interesting insights into the mortgage market meltdown in his Sunday Seattle Times article “It’s Time To Expand Role of Mortgage Insurance”. Parts of his article are characteristically dry and difficult to read, but the essence of the message is there. If there is a bright spot in this deluge of not-so-good-news, it …
Know The Cost Of Your Commute
As we face the prospect of $4.00/gallon gas, and the likelihood that we will soon be paying tolls to drive around King County, take the time to calculate what your commute actually costs, relative to your home’s value and location. This nifty tool will answer questions that perhaps you hadn’t thought of asking before. While we have historically sought to …
More Waiting For True Jumbo Relief Required…..
Further exasperating the jumbo loan picture is the idea that Wall Street is going to segregate the new Fannie Mae and Freddie Mac loans that exceed the former conforming limits. This is going to limit the interest rate relief originally sought by the increased conforming loan limit initiative. Read this article from the Associated Press.
Fed Help Not Really Enough For King County….
Daniel Billett of Response Mortgage in Seattle plans to refinance as soon as the new loan limits are confirmed. The Saturday Seattle Times featured a cover story by Katie Hafner of the New York Times concerning the Federal stimulus packagerecently signed into law. (For some reason, the Seattle Time’s on-line version is not available, so this link takes you to …
Where is the Economy Headed?
Ben Bernanke looked about as comfortable as Roger Clemens at a Congressional hearing on the economy yesterday. In case he didn’t know, all the help the Feds are talking about is HAPPENING TOO SLOW! The credit crisis is actually a crisis when banks won’t lend to banks, never mind to you and me. The credit crunch is real! Be very …
TREX Decking: It’s Not Working
TREX decking took the industry by storm over 15 years ago. But now, as we see more and more homes with TREX decks that are over ten years old, the truth is…..it does not age well. Prone to discoloration, there is no way to restore color. Prone to swelling, similar to LP siding, it is impossible to replace pieces of …
Where is the Pride of Ownership?
Maybe it’s just because I’m getting older, but it has become increasingly evident that sellers do not possess the same pride of ownership that they have in years past. Used to be that sellers would scrub, vacuum and clean every nick and cranny of their home in preparation for a new homeowner. As the sale was already completed, this was …