Smart Borrower Blog

Archive for August, 2008

30 Year Mortgage Rates Drop

Aug 29th, 2008 @ 4:42 PM by Alden Smith

Mortgage Mentor wishes to welcome Amber Nelson to the blogging family.  Look for a lot of good content to come from her in upcoming months. The good news of the day is that 30 year mortgages once again dropped in the interest rate to the level of 6.40%, the lowest level it has seen in […]

more »

HOPE NOW Has Saved Millions From Foreclosure

Aug 27th, 2008 @ 12:54 PM by Amber Nelson

Heartbreaking foreclosure stories are all over the news today. Lot of people cannot afford rising mortgage payments on their refinance or home loans. Selling is not an option for many because the value of their loans is now greater than the value of their homes. The result is that tens of thousand of people default […]

more »

Who’s Minding The Store?

Aug 25th, 2008 @ 3:55 PM by Alden Smith

In these days of national security, where it seems like everybody knows your business and activities, you have to wonder how come there was so many unethical things going on in the mortgage market the past few years yet no one allegedly saw it coming. You could pretty much figure that with skyrocketing home values […]

more »

The Freddie and Fannie Deathwatch?

Aug 22nd, 2008 @ 4:39 PM by Alden Smith

I do not have the knee-jerk mentality of many who scream no bailout for failing banks and lending institutions.  Nor do I see it as a necessary evil.  Even though I am a bit opinionated, I have to be realistic when it comes to the current crisis we are in.  It cannot be a sense […]

more »

Help For The Upside Down Mortgage

Aug 17th, 2008 @ 3:44 PM by Alden Smith

No one is sure what the exact number of people there are with upside down mortgages, but a study by First American Core Logic, a real estate data analysis firm, estimates that 11% of homes purchased between 2004 and 2006 are there.  There has been dropping valuation, mortgages resetting and people simply walking away because […]

more »

Selling Homes At A Loss

Aug 16th, 2008 @ 3:52 PM by Alden Smith

It is amazing to watch the continuing fallout from the mortgage market.  Banks are going down. Freddie and Fannie are in the soup, and we see the government making attempts to set things right.  It seems like everything is tied to this crisis, and there is undoubtedly a lot we do not know.  I spent […]

more »

The Markets In California & Florida

Aug 15th, 2008 @ 5:23 PM by Alden Smith

Since I read a lot of web content, blogs and news, I see a lot of things in the course of my work that most people don’t.  I subscribe to several RSS feeds that cover the mortgage market, and I am especially fond of Dr. Housing Bubble, who gives me a big head’s up on […]

more »

India’s View of Freddie & Fannie

Aug 10th, 2008 @ 5:18 PM by Alden Smith

Because I subscribe to numerous services, I often get content from overseas. I have not yet reported on any overseas viewpoints, but thought that the article in the Economic Times – Gurgaon, Haryana, India, was noteworthy. Mortgages and securities are, after all, world wide. So for a change I thought I would share their viewpoint. […]

more »

Mortgages In Tough Times

Aug 9th, 2008 @ 3:43 PM by Alden Smith

We all know that it is not a very good time to buy a home right now, especially if our credit is less than stellar. To be honest, there are some really good deals to be had right now, and taking advantage of that is a good thing if conditions are right for you. Banks […]

more »

What Is Going On With Freddie and Fannie?

Aug 8th, 2008 @ 5:59 PM by Alden Smith

Even though Freddie and Fannie were aware of the market crisis, the pair kept revving the security engine full bore, even though Wall Street knew better, and backed away from it.  To someone like me, that is criminal intent.  Yet we are still hearing all the gushing news from Washington how good old Freddie and […]

more »