Making Home Affordable Program
March 26, 2009 by Tom Schreiner · 4 Comments
The Obama Administration unveiled the final details of its “Making Home Affordable Program,” which is designed to help up to 9 million American families refinance or modify their loans to a payment that is affordable now and into the future.
One of the initiatives in this program is aimed at helping struggling homeowners “modify” their loans [...]
Stimulating Opportunities In The Government’s New Economic Plan
February 23, 2009 by Rebecca Hansen · Leave a Comment
The new economic stimulus package allocates $787 billion to boost our multi-trillion dollar economy. Here are some provisions individuals can take advantage of now.
1. Housing help. First time homebuyers can get up to an $8,000 tax credit if they close by November 30, 2009. This credit does NOT have to be paid back if [...]
The Fed ALMOST Got it Right!
November 25, 2008 by Bob Schenkenberger · Leave a Comment
The Fed announced today it will purchase up to $600 billion in mortgage backed securities issued by Fannie, Freddie and Ginnie Mae.
As a result, 30 year fixed rates drop to 5.50%. This is great news! What isn’t such great news is that those in need of a “hand up” are NOT going to get [...]
Who’s the winner in todays economic world?
October 24, 2008 by Tom Schreiner · Leave a Comment
The First Time Buyer….
They have an opportunity to buy homes today that don’t have inflated values…
They don’t have to wait for their home to sell…
They have sellers willing to pay their closing costs and buy-down already low interest rates….
They are in the first “Buyers” Market in nearly 8 years….
They have the largest selection of homes in 15 [...]
What Is Happening to Fannie & Freddie
September 12, 2008 by Rebecca Hansen · Leave a Comment
Major Points
Fannie and Freddie have been placed in conservatorship. (Federal government has taken 79.9 percent of common stock and all dividends in return for buying $1 billion of preferred shares.) Top Fannie/Freddie executives have been replaced.) In return, the Treasury will receive new senior preferred stock and warrants on the GSE’s (Government Sponsored Entitites) common [...]
