A recent report on the economy showed that there are more than 9,000 foreclosures per day, on average, across the USA. But in some regions, especially those where prices didn’t experience dramatic escalations during the real estate bubble, the housing markets are relatively stable.
December 2008
Financial companies are applying for bank holding company status to diversify and improve their access to cash.
Fed Chairman Ben Bernanke continues to remind America that the Fed is dedicated to fixing the economy. But the problems are global, require cooperation from central banks worldwide, and are unprecedented in the history of the world.
President Bush admits the need for economic reform, but emphasizes the importance of keeping capitalism alive and well.
Long gone are the days of the “bubble” in the real estate market. We’re now beginning to see signs that we’ve reached the bottom, as falling real estate sales have created more affordable housing. Prices are more in line with median incomes around the country, providing a strong signal that the end of the slump may be in sight.
Demand for purchase and refinance mortgages have risen from their historic lows on the strength of lower interest rates.
The Chinese economic model could save America from its debt-ridden quagmire.
First time home buyers may be entering the market of a lifetime. Mortgage rates are already at a record low 5.5 percent, and the Treasury is determined to make that 4.5 percent. Housing prices are also at record lows and plentiful. If you are looking for your first home, now is the time to start getting serious.
One of the best ways to buy a house with almost zero down is to buy a FHA owned home. When FHA has to foreclose because borrowers are not making payments, they offer a very special program to buy their houses for $100 down and they will credit you 3% for closing costs. The prices on the HUD homes tend to be very good. You will still have to qualify for a new FHA 30 year fixed loan. Today’s rates are the best in 45 years with borrowers able to get 30 year fixed in the low 5% range. This will help you keep your payments low.
Give me a call or email and I can point you towards the HUD homes and get you qualified. rob@affinity-financial.com 858-922-7899.
Freddie Mac and its counterpart, Fannie Mae, were originally created in the beginning of the last century to strengthen the nation’s real estate economy. Now, taxpayers are being forced to return the favor with a massive bailout of these two institutions. The economy is worsening, and Freddie Mac needs quick cash.
