Like/Dislike, Comment, Favorite and share on Twitter, Facebook, Google+ to get the word out on this video.
Wednesday July 13 2011 5:43 am
Visit: http://MeTee.com/coupon/SubscribeForNews
Support this Youtube channel and Create and Publish a t-shirt using the link above. This channel is brought to you by MeTee T-Shirts: The place for On-Demand t-shirts.
-
Signup for the Daily News Email Subscription:
http://tinyurl.com/Receive1EmailDaily
-
http://www.msnbc.msn.com/?id=11881780&q=Geither+the+economy+is+still+strengthening+&search=&p=1&st=1&sm=user
The US subprime mortgage crisis was one of the first indicators of the late-2000s financial crisis, characterized by a rise in subprime mortgage delinquencies and foreclosures, and the resulting decline of securities backing said mortgages. Approximately 80% of U. S. mortgages issued to subprime borrowers were adjustable-rate mortgages. After U. S. house sales prices peaked in mid-2006 and began their steep decline forthwith, refinancing became more difficult. As adjustable-rate mortgages began to reset at higher interest rates, mortgage delinquencies soared. Securities backed with mortgages, including subprime mortgages, widely held by financial firms, lost most of their value. Global investors also drastically reduced purchases of mortgage-backed debt and other securities as part of a decline in the capacity and willingness of the private financial system to support lending. Concerns about the soundness of U. S. credit and financial markets led to tightening credit around the world and slowing economic growth in the U. S. and Europe.
-
If you are interested in becoming a channel sponsor for $1/day for 30 days send a youtube message letting me know.
Duration : 0:6:17
Read the rest of this entry »
Technorati Tags: 9/11, Alan, bailout, bankers, banks, bilderberg, Buffett, CFR, chapman, club, collapse, complex, conspiracy, corporatism, credit, Crisis, default, deflation, dip, double, Economic, economy, elites, fascism, federal, foreclosures, Geithner, globalist, gold, goldman, Greenspan, hikes, hillary, hyperinflation, illuminati, IMF, industrial, keiser, layoffs, molyneux, Mortgages, New, NWO, oil, Order, Prices, recession, Recovery:, Reserve, rockefeller, rome, rothschild, sachs, Stefan, stimulus, tax, theory, timothy, Unemployment, warfare, watt, world
http://realestatemarketingthisweek.com – New Fannie Mae Streamline Loan Modifications may do more harm than good
Part 5 –
We do realize that there are situations that people are in that they want to be out of and we want to move past. We have back in the studio, the author of Real Estates Future also the author of The Foreclosure Sharks white paper, a fantastic manual that he has put together that you can get for free. Dan Havey thank you very much for coming back. You can get a copy of the white paper The Foreclosure Sharks at http://mortgageanswerman.com.
So Dan I know that you have brought the just recently released new Fannie Mae, Freddie Mac guidelines, with their streamlined modification process. This is the kind of thing where the consumer can go and do-it themselves, right?
Yes, except that we would certainly advise against that. These are the guidelines that Fannie Mae came out with; they are effective as of a couple weeks ago now. But with Christmas and the holidays I dont think a whole lot of people have figured out what this is all about yet. So as we said in the last segment the guidelines that they have come out with here, and what I have is a print out but I dont know that this is the whole thing because I have heard some commentary on this that actually says that it is much worse then I am about to relay to everyone on the air.
I am just going to pick out a couple points about this and then I will let Michael laugh about them because some of these things are just crazy in the fact that it doesnt really help the home owner and I also dont think it is going to move us past the conditions we have to get people some really good loan modifications, the kind of loan modifications that we are talking about where you actually employ an attorney to help you with your loan modification.
The reality of it is we need to get through this mess we dont need to stave it off, push it out further and in my opinion that is what this does. That is exactly what is going on here, there was an article I was reading by Fitch, which is one of the major bond rating firms and that is exactly what they said. They said that the alt-A arms are all coming back to roost now, I think the default rate was over 14% on all alt-A arms, being at least 90 days past due. And the comment in the article was something like, well we havent really seen a lot of losses from it yet and then it said in a caveat at the end, and we think its because they are not really foreclosing on any of these guys yet, so that is why they havent seen any losses. Well if you keep pushing it off into the future eventually you are going to have to see some of these losses.
We have the same thing here with Fannie Mae, which I think it is just another band-aid; it is not going to really solve the problem. First what they have here, and this one is pretty benign, that once they give you the new mortgage payment you have a three month trial period. If you make the payments during that trial period they let you keep the modification. So that one is not so bad.
The next one says that the qualified borrower cant be in litigation, bankruptcy, or have an existing work out plan, and you have to be at least 3 months behind or in foreclosure in order to be eligible for this streamline.
Ok I get to comment right? SO basically what Fannie Mae and Freddie Mac just told everyone, according to this that I am reading right here, Fannie Mae and Freddie Mac just told you to be 90 days late on your mortgage. That is exactly right, they said that the only way they were going to be able to help you was to be 90 days late on your mortgage.
So I have been, over the past several months, heck Dan you helped us put together the package, you are the cofounder of the modification hotline and I am on the radio every week when we do a little blip about load mods from time to time, saying dont trust anybody who tells you to be late on your mortgage. First of all no loan professional, no mortgage professional, no loan modification specialist will tell you to be late on your mortgage, however, Fannie Mae and Freddie Mac just said you need to be at least 90 days late on your mortgage if you want them to help you.
Duration : 0:6:53
Read the rest of this entry »
Technorati Tags: Attorney, Avoid, bailout, Bank, Bankruptcy, Estate, Expert, federal, financing, Foreclosure, fraud, hardship, Home, home mortgage modification, Home-Loan-Modification, Insolvency, law, laws, lender, letter, loan, Loan-Modification, loss, Mitigation, modification, mortgage, Mortgage-Loan-Modification, Mortgage-Modification, Negotiate, negotiation, package, prevention, Process, program, Real, requirements, Sale, Scam, Servicing, Short, tax
Oklahomans at risk of losing their home can get help from the Federal Government.
Duration : 0:0:24
Read the rest of this entry »
Technorati Tags: emegency, federal, government, loan, loans, oklahoma
March 16 (Bloomberg) — Frank Pallotta, managing partner for the Loan Value Group Llc, talks about the practice of “strategic” foreclosures and the impact on the housing market.
Pallotta speaks with Mark Crumpton on Bloomberg Television’s “Bottom Line.” (Source: Bloomberg)
Duration : 0:10:39
Read the rest of this entry »
Technorati Tags: All, Audio, Banking, Bloomberg, Builders, consumer, Country, credit, Crisis, Crunch, defaults, Economic, Economies, English, federal, financial, financing, Goods, Home, housing, Hurt, in, Labor, loans, Media, mortgage, Multimedia, News, Pallotta, plan, Retail, Rise, Says, Services, stimulus, strategic, Unions, video, Visual
LINK FROM: http://newzzcafe.com/
Arizona and Nevada are suing Bank of America Corp., claiming one of the nations largest banks engaged in mortgage fraud.
Attorney General Terry Goddard announced the lawsuit, filed in Maricopa County Superior Court, on Friday. It came after the office said hundreds of complaints have been filed against Bank of America (NYSE: BAC) and that the company violated the Arizona Consumer Fraud Act and a consent judgment from March 2009 between the state and Countrywide companies, which Bank of America owns.
Bank of America just fired the preemptive escalation shot in its duel with Wikileaks.
Late on Friday, America’s biggest mortgage lender, and the firm that is now getting sued left and right for various mortgage transgressions, announced it is joining MasterCard, Paypal and Visa in ceasing transactions for Wikileaks.
While this decision will certainly not improve Operation Anonymous’ empathy toward the North Carolina bank, it may just precipitate overt retaliation by Assange, who is now rumored to be in possession of data that could provie harmful to BAC.
Duration : 0:2:17
Read the rest of this entry »
Technorati Tags: ACTION, against, America, Arizona, Attorney, bailout, Bank, benjamin, bob, Bond, Budget, Buy, cdo, celente, chapman, class, closed, collapse, countrywide, crash, Crisis, dawson, dimon, eviction, failure, farrakhan, federal, filed, Foreclosure, fraud, fraudclosure, fred, fulford, General, gerald, goldman, housing, illuminati, jim, JP, keiser, lawsuit, max, MERS, modification, morgan, mortgage, of, pimco, putbacks, remic, Reserve, rico, robo, sachs, shane, Short, signer, silver, sinclair, state, tila, willie, zerohedge
March 2 (Bloomberg) — Joseph Murin, chairman of Collingwood Group LLC and former president of Ginnie Mae, and James Lockhart, vice chairman for WL Ross & Co. and former head of the Federal Housing Finance Agency, talk about the outlook Fannie Mae, Freddie Mac and the mortgage-finance market.
Fannie Mae and Freddie Mac, operating under federal conservatorship, have been sustained by $154 billion in Treasury funds since they were seized in September 2008. Murin and Lockhart speak with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)
Duration : 0:5:37
Read the rest of this entry »
Technorati Tags: All, Audio, Banking, Bloomberg, Builders, Cost, Economic, English, federal, financial, financing, government, Home, homeownership, housing, Interviews, Likely, loans, Lockhart, market, Media, mortgage, Multimedia, Multimedia-Exec, Murin, News, plan, Rise, Say, Services, stimulus, Team, US, video, Visual, will
Predatory Lending, Mortgage Fraud,Real Estate,Foreclosure,Subprime,FBI,FDIC,Bailout, Judicial Injustice,Value inflated 136%, BB&T Bank,loan, congress, Judicial Injustice, Adjustable Rate,News,CNN, Mortgage
Duration : 0:5:2
Read the rest of this entry »
Technorati Tags: and, ARM, Attorney, bailout, Bank, Banking, BB&T, Branch, congress, court, Estate, FBI, federal, Foreclosure, fraud, Fruad, injustice, Judicial, legal, lending, Media, mortgage, News, predatory, Real, Reserve, subprime, Trust
As officials and business leaders struggle to rescue the U.S. economy, the news has been filled with strange terms like “mortgage-backed securities” and “leverage.” Most people know that a mortgage is a home loan. Lenders add a charge called “interest” to the mortgage amount and borrowers repay the loan, plus interest, in monthly payments over many years. But many are baffled by the newer terms. VOA’s Jim Randle translates some of the Wall Street-speak into more understandable language.
Duration : 0:2:42
Read the rest of this entry »
Technorati Tags: Bank, bush, business, congress, dolla, Economic, Exchange, federal, finance, government, house, market, mortgage, New, News, President, Randle, stock, street, voa, wall, york
http://best-refinance-home-mortgage-loan-rates.com/
“you will never make money.. faster than around a negotiating table”
This is true for saving money too, when it comes to home loans or mortgages.
When people (new buyers) come to the banks and lenders they come without any ‘power’ to leverage the other side need for a deal too. Homebuyers come weak and “beg” for the loan officer or mortgage broker to give them a mortgage at the best rates..
While its the loan broker who needs the deal too.. if you do not close.. he gets no fees..
In this short movie you will get tips on how to save money while negotiation with the bank. The tips are short and simple. You need to do them with every business encounter. You can save hundreds of dollars this way.
Mortgage closing costs and fees, can sum up to a big cash payment.. you can reduce this by negotiating. When you negotiate you show you have other alternative, when you show the bank you are in a position to choose you have the ‘power’ (even when you don’t have other options..)
Duration : 0:2:3
Read the rest of this entry »
Technorati Tags: Bank, banker, broker, buyers, costs, federal, FEES, First, grants, Home, house, insurance, lenders, loan, loans, money, mortgage, Mortgages, Negotiate, negotiating, negotiation, origination, PMI, rate, Refinance, Refinancing, save, time, tips
This video describes a simple effective rescue plan for Fannie Mae in addition to the inside story regarding what is happening in the financial markets.
Duration : 0:8:29
Read the rest of this entry »
Technorati Tags: Banking, Benanke, bill, Bloomberg, broker, Buffett, bush, citigroup, Cox, Crisis, equity, Fannie, federal, Foreclosure, franklin, freddie, Fund, hedge, Lone, mac, Mae, mccain, Moodys, mortgage, ny, obama, Parish, Paulson, private, raines, Reserve, rogers, Star, Times, treasury