Smart Borrower Blog

Archive for January, 2009

Latino Communities Hard Hit With Foreclosures

It is very hard for me to understand how a person can get into a mortgage situation where they just cannot afford the home they are getting into.     My research shows me that this is especially true in the Hispanic communities around the nation. I wondered why that was so, certain that there was much more to it than the Latino community making poor decisions. California and Florida are the most obvious, but the statistics provided by a Journal analysis of U.S. Census and RealtyTrac data shows that in U.S. counties where Hispanics account for more than 25%... more »

With The New Year, New Regulations Come Into Play

With the coming of the New Year, many states are putting into place new rules for loan originators.   Although this is locking the barn door after the horse has been stolen, it is time that states took an active interest in what banks and lenders are doing.   Deregulation has most assuredly been seen to not work, and with the current economic turmoil, anything that can be done to help will be welcome indeed. The Fed is doing a bit of work on this problem.   They are in talks now to would prohibit lenders from making high-cost loans... more »