Latest Albuquerque Mortgage News:

So a couple of days ago, we referenced Fortune article in Albuquerque that suggest that we may be seeing signs, though very modest, of a recovery.

Now, Albuquerque Mortgage  mention that actual inventory is a bit over six months and that’s a good sign, and home sales actually increase  in 2011 over 2010.

Yeah! We’re told us that realtors actually going gang busters right now. Further, our detractors in Albuquerque Mortgage need a little bit more geographical competence to understand the nature of our comments.

Now, analyst in Merrill Lynch in bank of America revised the four cast and believe property values in US and in Albuquerque are going to remain largely flat till 2013.

Now, that’s an improvement from the previous beliefs and the associated press just release the story that’s in US specially in Albuquerque Mortgage Loans, home re-sales have actually had their best winner in 5 years

Right now, the most compelling from CNN money claims that in 98 of the top 100 housing markets is cheaper to own than rent the same house in Albuquerque Mortgage Loans.

Now, From a simple casual position, this should moves them homes, right? Even if the values continue to drop a little bit, it makes sense in every market to buy properties in Albuquerque Mortgage.

Right, buying houses in US and in Albuquerque we know that there’s 1.6 million units in shadow inventory. We know that there’s still 3 million seriously delinquent properties. But how many of those who are going to end up in some form of modification and won’t hit the auction blocks?

That’s right! So we’re not saying the recoveries here but have the winds of change begun to blow? I don’t know, because that’s what you know you think.

They’re asking Edward DeMarco, the head of FHFA, that he should agree to Fannie and Freddie write- down or he should step down. These guys are accusing DeMarco of standing in the way of our recovery.

Ok, yeah right down from Fannie and Freddie will come at the tax payers expense men and right down in general may scare those looking doing fast in mortgage bank security.

Ok, let’s think about these guys, most of these notes are in question. The majority of them are going to get written down anyway. Willingly with the aid of  Fannie and Freddie, forcefully, when these people walk in the form of future foreclosures.

Ok, according to Freddie Mac, rates are now over 4% for the first time since last October in Albuquerque.

The National Association of Mortgage Brokers in the news is there in Washington marching today I believe to lobby for the industry. Now, keep in mind as we post it last week, brokers now represent 12 percent in the entire industry. And oh! They’re growing. Here’s the Albuquerque Mortgage Evaluation.

And  as we heard of David Stevens of FHA and now president of the Mortgage Bankers Association, “when the market contracts, T-Pills they retract, and when the market grows, T-Pills, well they do same. So, with that said, names on the right mode and they’re still making it a strong industry for you and you and your clients.

There’s an Albuquerque Mortgage Evaluation Model put up from evaluation vision where they’re taking not one, not two, but three BPOs to determine a value of a property! James Kirchmeyer the CEO of the Kirchmeyer Group, the partner company calls the product revolutionary!

And he says, Albuquerque Mortgage Evaluation quotes, “I don’t take the world ‘revolution lightly, but once you’ve seen BPO’s merge, it’s clear that it’s providing 3 independent price options and reconciliation  in a single report is changing what the industry thought even possible.”

I don’t know . How about possibly letting appraisers do their job again? Albuquerque Mortgage Evaluation sees it revolutionary! This whole thing really is crazy.  Sorry Kirchmeyer, I don’t see it that way.

I didn’t even realize that this stuff is going on but FHA is prohibiting purchasing loans that have transfer fees associated with the deed. And that we may recall that few years ago a home builder was putting overbids on the deed that then allow  the home builder then  to take portion of any future gains, and that is a transfer fee and all around a really, really stupid idea. Here’s a question we have.

If the house goes down in value, and the buyer loses his butt, does the buyer then pay a portion of the loss?

Home builders settlement is unchanged. Who cares?

The National Association of Home Builders Market Index is standing at 28.

Fifty is a line between positive and negative.  The index now is now holding firm right now at its highest level since 2007.  I for one am going to sleep better tonight that home builders are feeling…I guess, okay about things.

Albuquerque Mortgage Evaluation

According to our friends at the National Mortgage News, Well Fargo is going to severely cut back its correspondent loan business and I just heard from a loan officer that for a foreclosure of a Wells Fargo property it isn’t necessary now for the home buyer to get pre-qualified with a Wells Fargo loan officer, which sounds good and keeps me reminding that something is going on here, may be for good to the housing industry and for Mortgage Loans Albuquerque.

According to National Mortgage News, 86 Firms are in the Wells Fargo list of correspondents with whom they do business with many vying for Mortgage Loans Albuquerque deals and there will no exceptions made to this list of correspondents in their decision to cut back correspondent loan business. You may ask me why is this a big deal.

Well, Wells Fargo has done $55 Billions in Third Party Origination deals in Q4 last year 2011. They are hands down the biggest percentage of this segment of the mortgage lending industry including Mortgage Loans Albuquerque deals. Wells Fargo originated $89 Billions of mortgage loans in the third quarter of 2011, which is more than the combined total of JP Morgan Chase at $37 Billions and Bank of America at $33 Billions. According to company statements, Bank of America plans to close their mortgage unit that contributed more than 50% of their new mortgages in the second quarter.  We have already lost our heavy heroes out there in the industry with Bank of America (BoFA) jumping ship late last year. Strangely as recently as last November, Wells Fargo was talking about the opportunities with the BoFA running away from mortgage lending. Apparently things have changed since November 2011 according to the latest news emanating from Wells Fargo.

Apparently the ability of the Third Party Originators to find homes for their loans has been severely diminished which is bad news for Mortgage Loans Albuquerque. This news is really bad for your customers. Your clients will be getting few choices because of filed law suits, fines, investigations and new stifling guidelines that are in place. Can you really blame these banks from running away from lending? In order to protect you, the actions coming from up the hill in Washington are limiting the choices for your customers. By the way, this goes into effect from next Monday.

A REMAX agent when he was getting ready to show a house in Indiana, the house blew up all of a sudden or exploded. The agent was taken to a hospital and the condition was unknown to us at this point of time. A neighbor who was crossing the street at that time confirmed that the house exploded as if like a bomb explosion. The moral of this episode is please check the Life Insurance Policy and whether it is updated recently. Showing houses for a variety of reasons can be very dangerous and it is better to listen to your instincts. If you smell gas in any house you are seeing or showing, immediately leave that house for safety and contact the Fire Department for further action.

According to Fortune magazine, the housing industry may have bottomed finally after several years. Here’s the reason for that optimistic reasoning and conclusion. The year 2011 has seen 4.26 Millions of home sales which have increased from the 2010 figures of 4.19 Millions home sales. Nationally inventory is down to just over 6 months which is generally considered a healthy amount. This is good news for home buyers in Mortgage Loans Albuquerque.

Now the prospect of 3 Million Foreclosed homes coming down the pipes in the next couple of years and the concern of actually raising rates of bonds may actually stall the recovery seen in the housing market. Here’s why we think we might may it through this time around.  We have seen homes being disposed off by banks getting $290,000 for a $722,000 loan originally disbursed. Someone is giving away like the banks in this case and hope the market recovers from the malaise it has suffered in the last few years.

Until next time, I’m Wes Moore and don’t forget to do me a favor and please leave me a brief comment on this site or subscribe to this site for more information on Mortgage Loans Albuquerque.

Fannie Mae has turned in $116.1 Billions in Treasury draws request today and we don’t know how HUD would sweep it under the carpet. This has arisen because of failed loans that MI companies didn’t pay on, which landed on the books of the GSE’s. The burden on the GSE’s is increasing due to rising bad loans in Mortgage Loans Albuquerque and rest of the nation.

Now GSE’s will look at these Mortgage Loans Albuquerque and elsewhere and will decide whether any discretion has been committed that would require these lenders to buy the loans back. If it is so, these banks are contractually obligated to buy the bogus loans.

Sometimes banks will disagree and they won’t want to buy back those loans originated by them in Mortgage Loans Albuquerque and other regions. In such cases, Fannie Mae runs into trouble straightaway and will have to borrow money from the Treasury to make them up which is definitely not good.

We can ask a simple question to Fannie Mae on this situation where they require a bailout once more. What percent of those loans that perpetuated the Fannie Mae bailout belong to Bank of America? Incidentally Bank of America accounts for over 52% of all those bogus loans that are bought back. Further they represent 59% of all bogus loans that are bought back that are sitting for over 120 days in Mortgage Loans Albuquerque and other places.

Fannie Mae says if there is no resolution soon, they have to borrow billions of dollars more from the Treasury. It has to pay for Bank of America’s mistakes, how ironic is it?

After we have seen several loan programs like HAMP, HARP, HARP 2 etc, now we have something called HAP program. This is the latest stupid acronym loan program that is destined to fail as the earlier loan programs enunciated above. HAP stands for Homeowners Assurance Program and is launched by the National Association of Real Estate Brokers which should not be confused with NAM. We will look at what HAP going to do in the present times.

This is the verbatim from an article about HAP. HAP will serve as “the boots on the ground providing the agent infrastructure to manage market, and dispose of non-performing loans and REO Assets acquired under the program”. Targeted buyers include first-time homebuyers and others who are caught in the credit crunch and having trouble purchasing a home.

Does that make any sense to you at all, but here’s the interesting part of the story. This program is funded to the tune of $1.2 Billions by private and Wall Street investors which is unbelievable and freaking and we need to know answers about that dough. All these programs funded by the Treasury have failed to solve the persistent real estate industry problems and I am wondering what this new program will do to the good of the people in Mortgage Loans Albuquerque.

As a matter of fact and protest for the failure to find a solution to the real estate crisis, we are starting our own foreclosure solution program by forming a silly acronym namesake and asking for donations to counter the silly things that are going in the market. It’s called “HOTDOG” meaning Home Owners Troubled Debt Obligation Group.  This is in recognition of the mistakes committed by the bigwigs and request you to not to take this one seriously.

Until next time, I’m Wes Moore and don’t forget to do me a favor and please leave me a brief comment on this site or subscribe to this site for more information on Mortgage Loans Albuquerque.

Let’s discuss about the raised MI premiums for FHA Mortgage Loans Albuquerque in this post. We know HUD is there to help people to buy homes at an affordable price.

Sure there will be sometime in your life that you would go in for a house and HUD is acting like a kind of Robin Hood because instead of robbing the rich and giving it to the poor, ironically it is robbing those people who’re struggling and giving it to those who give the loans and need nothing. It’s a bit of a difference and irony, don’t you agree with me on this point about HUD? The following reason will bare all the facts of the functioning of HUD.

Think about this. If you are rich and can afford to put in 20% down payment on the house, you won’t get a FHA Mortgage Loans Albuquerque by any means.

Starting on April 1^st 2012, Financed Mortgage Insurance is going up from 1% to 1.75% of the loan amount obtained in FHA Mortgage Loans Albuquerque . For example if you’re going in for a $200,000 home, clients will get $3,500 financed into their loan instead of the present $2,000 into their loans. Further the monthly mortgage insurance on that $200,000 loan will be going up by $270 every month for the rest of the tenure of the FHA Mortgage Loans Albuquerque.

These increases are to cover Congressional mandated minimum 2% requirement for FHA. Understand that FHA makes money by giving it to HUD, and then HUD decides how much of their money they want to give back to them to fill the FHA annual budget.

Here’re the file facts of the case. It is better that HUD gives back the total money back to FHA and use that to fund the FHA corpus and it’s not prudent to take increased money from homebuyers who desperately need monetary help in these hard times.

Recently HUD has charged Bank of America for discriminating against homebuyers with disabilities. Here’s the deal about those charges and Bank of America doesn’t lend any mortgage loans in future and lenders will have overlays. Here’s the charge against Bank of America. The investigation filed by 2 individual borrowers one in Michigan and the other in West Wisconsin claim that Bank of America requires them to provide personal medical information document and documentation regarding their disability and proof of continuance of their social security payments in order to qualify for the loans. That is the word from HUD by the way word for word. From these charges we have to understand whether social security for disability is going to continue for 3 more years from today. We have to have reasonable understanding that this income is going to continue in order to qualify for the loans in these cases.

Here’s the FHA’s rule number 41-55 on underwriting guidelines book on what you must do to determine someone’s income. Section 2.1 reads on Salaries, wages and other forms of Effective income. The income of each borrower to be obligated for the mortgage debt must be analyzed to determine whether  it can be reasonably expected to continue through at least the first 3 years of the mortgage loan.. The effective income must be the amount documented for benefits, social security payments and other payments expected to be received. Further FHA further states in their guideline book that social security income can only be used as a compensating factor which means nothing in these hostile periods can be verified for a minimum of 3 years. In other words, undocumented income is useless. HUD says you have to document that income to qualify for the loan. Now HUD is sueing Bank of America for trying to document social security disability payments. I see this as a witch hunt against lenders who’re trying to follow the guidelines laid in the FHA book and this may be the reason why lenders are refraining from giving loans to borrowers.

There is no use of clients blaming the lenders who are there to lend money; instead they have to blame HUD for the mess they are causing in the market. Let’s stop this Insanity and let’s put this housing recovery into drive by focusing more on FHA Mortgage Loans Albuquerque.

Until next time, I’m Wes Moore and don’t forget to do me a favor and please leave me a brief comment on this site or subscribe to this site for more information on FHA Mortgage Loans Albuquerque.

Let’s start another discussion on Bank Owned Homes Albuquerque. Why should you or your friend’s buy a house? Let’s take a look at this.

Warren Buffet, the richest guy in the country wants us to buy Bank Owned Homes Albuquerque now because he is smarter than us and may be we should listen to his views on this topic.

Here’s the deal offered by Warren Buffet. If you or your clients have money invested in banks, cash or treasury bills, the return on investment is virtually zero at this point of time. The reason for this can be obtained from the following figures. If you had a single Dollar in 1990, you have to have 79 Dollars today in your pocket to have the same purchasing power as that of in 1990. Based on the purchasing power of the Dollar right now, you will be losing money if you invest in banks or treasury bills because in this case your money has dropped in value by nearly 80%. Having revealed the true purchasing power of the Dollar, Warren Buffet  feels the areas like Bank Owned Homes Albuquerque is where you have to invest your money right now.

Warren Buffet in a recent interview on CNBC feels that if he had a way to buy a couple of thousand homes like Single Family Homes or Bank Owned Homes Albuquerque with a focus on managing the homes efficiently, then he would go for them without any hesitation. He stresses managing that number of homes is the key to buying homes and if he can sort out that issue, then he would go for it without any doubt. He feels managing them is the most important worrisome issue in this case rather than buying them. Taking the cue from Warren Buffet, you or your clients can aspire for 1 or 2 homes certainly and manage them as well as any one in this country.

Second and important point Warren Buffet stressed is the fall in value of the Dollar compared to the 1990’s. If you don’t invest your money prudently and take the cautious approach of investing in banks or treasury bills, you are going to see a drop in the value of your investments. This can be called as cheating money.

Upon buying a home or otherwise investment in Bank Owned Homes Albuquerque, you can also cheat other people’s money. Again according to Warren Buffet the greatest statistic that is in your favor in buying a home is the financing. We have got good mortgage loan rates at present and if it gets further lower, then refinance the home at better rates and the bank gets stuck with lower loan payments and gets stuck for the next 30 years.

You can check that out with Warren Buffet. Warren Buffet clearly states that you can refinance the loan with lower rates when they fall further and the lenders will get stuck with refinanced loans for the next 30 years. Again, according to Warren Buffet, owning a home, investment or otherwise, is just about the right place to put your money right now  and there can be no better alternative than Bank Owned Homes Albuquerque.

But again here is the hitch to the advice given by Warren Buffet. What’s the way out if the property values go down from the present levels? The general mentality of people is to run into homes when the property values are going up and run away from them when the property values are going down. What’s going to happen and this is what Warren Buffet has to say on this matter. He says today there are more households created than houses. If that trend continues and will continue to do so to a further period and eventually it will get balanced out. When that situation gets balanced at different geographical places and destinations at different times in the country, we will need more than a Million residential housing units annually. This balance was disturbed 5 years ago when more residential units were there compared to households and slowly the balance is tilting with more number of households created.

According to Warren Buffet, money goes down the drain if money is left alone without being invested at the right place. Buying a home primarily or otherwise investing in Bank Owned Homes Albuquerque is your best bet. It gives you a way to live in and get you a cheap asset. Even if your asset goes down in value, remember nature finds a way to restore the balance and we will need more housing units in near future. You need to buy a home and all the super rich cool guys intend to do that.

Until next time, I’m Wes Moore and don’t forget to leave me a brief comment on this site or subscribe to this site for more information on Mortgage Loans Albuquerque and Bank Owned Homes Albuquerque.

It is official now and this is great news for homeowners seeking mortgage loans Albuquerque. The house and the senate has just passed a $150 Billion payroll tax cut reduction bill and unemployment benefits for the next 10 months and it did not use the guaranteed fee hikes for the Fannie Mae and Freddie Mac.

This is really great news because why would the Congress increase the cost of homebuyers by charging them more money on their home loans and use that money to pay for unemployment benefits. My point is why they would ever consider charging the home buyers seeking Mortgage Loans Albuquerque more money to pay for unemployment benefits because they have done it before which was counter productive.

This is actually great news because just a couple of months ago, the Congressional in charge for Freddie Mac and Fannie Mae has categorically said that they need an increase of 10 basis points to cover the $35 Billions needed for the 2 month pay extension which means all your clients get to pay for that for the next 30 years. This does make any sense to you?

I am going to refrain from giving any type of applause to the Congress for not doing something that they shouldn’t do and it is not even based on the fact they have already did it earlier. The reason why I am refraining from applauding them is some folks on the hill are saying they the fee hike may still come at a later date and may possibly impact cost of Mortgage Loans Albuquerque.

It must also be noted that not all the decisions intended to guide us through during these dark times, taken at Capitol Hill are ridiculous. Here’s an example of a decision which is not truly and clearly ridiculous. As a result of our concerns over the length of short sales as many of you might have seen or felt the pain over many agonizing days, the length of the short sale transactions are causing them to end up as foreclosures. This is in spite of the fact that tens and hundreds of thousands of dollars of Mortgage Loans Albuquerque can be settled as short sales instead of foreclosures. Foreclosure departments of every lender need to note this point.

Now senators have proposed the prompt notification of short sale act to mitigate the hardship of homeowners. Let’s check this out on what this is going to do. This is going to require a written response to an offer from you within 75 days from a realtor. This does not take into account when there is a counter offer from some other client and it also does not take into account the number of counter offers that may spring up after some time or just before the end of the initial 75 days. The act does not foresee all the occurrences that may happen in those 75 days and the transaction will not come into an end as anticipated and it prolongs the process instead of taking it to a logical conclusion. This speaks for the law that is going to be promulgated.

Until next time, I’m Wes Moore and don’t forget to leave me a brief comment on this site or subscribe to this site for more information on Mortgage Loans Albuquerque.

Welcome to Moore TV, I’m Wes Moore. Today I am going to tell about a special non-profit organization that exists solely to help post 9/11 Military families in mortgage loans Albuquerque. It’s called USA CARES.ORG.

They help military families bear the burden of service through financial aid in advocacy support through grants to deserving military families. USA CARES.ORG’s mission is to help families with basic needs during financial crisis and to assist combat injured veterans and their families prevent military home foreclosures and evictions.

I was fortunate enough a couple of months ago to take a course from USA CARES.ORG in Las Vegas and they have now certified me as a certified military housing specialist in Mortgage Loans Albuquerque which means I am now a specialist in VA home financing.

This course written by a former loan officer, real estate broker and a career army wife was funded by a grant from Fannie Mae and launched in 2010. It reinforced my knowledge of PCS, LES, pay grade rank, d fast, the silver relief act etc. Now if you know a veteran or an active duly personnel member for that matter, I believe it’s your duty to refer them to a certified military housing specialist  and in New Mexico, that’s me Wes Moore for Mortgage Loans Albuquerque and VA Loans. I may be reached best via my website @ moore4yourmoney.com or my cell phone directly any time @ 505-249-4506.

If you’re watching this in another state, just logon to usacares.org, to watch the list that’s there on that site of all the certified military housing specialists to get your VA Loans without any hassle.

Remember this, a veteran whether in active duty or retired, whether they are in National Guard or in Reserve, is someone who in some part of his/her life wrote a blank check payable to United States of America for amount up to and including their life. All of you folks out there in the street remember that and veterans please remember that USACares.org cares for you for your mortgage needs in Mortgage Loans Albuquerque.

Until next time, I’m Wes Moore and don’t forget to leave me a brief comment on this site or subscribe to this site for more information on Mortgage Loans Albuquerque.

When it comes to real estate marketing, it’s better to sell the sizzle rather than the stake itself. Here’s a famous case where the ex mother-in-law of Charlie Sheen has sued his Realtor for denying her referral fee on a purchase of a 7 Million Dollar mansion. But based on the preliminary findings, I really doubt whether she has a case there even though the money at stake is roughly $50,000.

If a lender engages in a similar behavior, both lenders at either end of the deal both the referral and referee  would stand to lose their licenses due to RESPA violations. If this loan was going towards purchasing a commercial property, that would be fine but towards buying a mansion that would be a violation of RESPA. According to RESPA, the lender would be charged with taking advantage of Charlie Sheen. This is interesting as the same case is good for one scenario and a blatant violation for another scenario.

Mortgage Operational Safety Assessment (MOSA): It’s a best tool out there to measure loan repurchase risk for a lender, community bank or to whosoever is interested in mortgage lending. Right now AllRegs is giving away an introductory version of the “The MOSA Lite” first course assessment for free.

The darling little couple Fannie Mae and Freddie Mac are going to increase their incentives to push through the short sale transactions quickly in Bank owned Homes Albuquerque.

They are going to offer $1500 to servicers, $2000 to investors and up to $6000 to subordinate lien holders to push through short sale transactions rapidly. They think by offering more incentives to the folks in the transactions, they can quickly solve the problem in the housing industry and more so in the Bank owned Homes Albuquerque region.

However, the increase in incentives does not change the underlying problem in the real estate industry and more so in Bank owned Homes Albuquerque market since the investors, servicers and the subordinate lien holders already know they are whipped sufficiently and they want to stop this non-sense further. The way to end the suffering is not by offering more incentives which is not nearly enough. This problem has more to do with the systems rather than the incentives.

Currently short sales are back logged in the system with the servicers and investors not being on the same page. They are throwing a second lien and the proverbial kindergarten telephone game starts. The main problem here is the short sales department is not communicating well enough to the foreclosure department and nobody is sure at what price the short sale department is satisfied. I have been told by many real estate agents in recent times that houses get foreclosed at the very end of a time consuming short sale process. These instances are happening everywhere in the nation with no end to the stalemate in sight. Short sale processes are progressing at a slow pace with the above mentioned kindergarten game in operation and the foreclosure department is blissfully unaware of the happenings in the short sale department. The foreclosure departments in every bank or lender are pursuing their own path independently without forging any understanding with the short sale department. This process is hampering the deals with the Bank owned Homes Albuquerque market markedly.

Unfortunately if the house gets foreclosed by the lender, all the time consuming efforts put in for the short sale proceedings will go down the drain even when everything is ready and the deal is ready to close. This is the problem that is causing the greatest problem to the real estate industry and not the money.  Unless the communication between the short sales department and the foreclosure department improves dramatically, the heartburns continue for the people and the real estate industry. I am a witness to several deals falling flat in Bank owned Homes Albuquerque market.

Do us a favor and subscribe to this site for free for more information on Bank owned Homes Albuquerque. You can always forward and share this one with any one you think might use it. See you again soon and look out for more information on Bank owned Homes Albuquerque.

You might have seen news that Freddie Mac was accused of betting against homeowners whose mortgages and other bank owned homes Albuquerque were backed by them. This news is neither totally true nor untrue in the true sense. This news can be interpreted in 2 ways and I will try to enunciate the total scenario behind this allegation.

There are 2 ways in which you can invest in mortgage backed bonds or mortgages held by bank owned homes Albuquerque. One way is to invest only on the principal portion of the loan called the Principal Investment Bonds which is widely regarded as a safe investment. The second way is to invest in only the interest part of the mortgage which is considered as a risky investment but will provide higher returns to the investors which is called Inverse Floaters or Investor Floater bonds. This will be the case with bank owned homes Albuquerque as well.

The reason why Inverse Floater bonds are considered risky is when we consider a scenario where the mortgage loan is paid off in full by taking advantage of the low interest rates available now for mortgage refinance. In this case the conservative principal investment bonds receive all their monies back whereas the Investor Floater bonds backed by Freddie Mac will not receive any thing because the loan is repaid before maturity and there will be no interest payment coming in from those mortgage loans.

As a matter of fact, Freddie Mac bought roughly $3.4 Billion worth Inverse Floater Bonds which benefits the bond owners when the mortgage loans are kept at higher rates without any refinance. But the problem is this is not the charter of Freddie Mac. They have been entrusted with the task of providing home loans to homeowners through affordability.

As we see the President, the members of the Congress and even the Federal Reserve have come out openly and said that we need to have a ‘National Refinance Program” right now to focus on disposable income of American citizens which enables them to spend more money that can be put right back into the economy. This provides more jobs, more money in the hands of the people etc.

This begs the question we have to ask our self whether the Refinance programs floated by Freddie Mac and Fannie Mae are hurting any chance of recovery quickly because refinances are pretty good to provide stimulus to the economy but bad for Freddie Mac as it is bad for their Inverse Floater Bonds. This is the case with bank owned homes Albuquerque situation as well.

My point is Freddie Mac should never invest in those Inverse Floaters bonds as there is a conflict of interest with their original charter and this situation needs to be looked into quite urgently. This is like Philips Morris selling cigarettes and opening a lung cancer center.

We also see in the newspapers that President Obama is also calling for a National Refinance Program. He suggests this should be done through the FHA. Considering the dwindling capital reserves of FHA and their delinquency rate of 9.6% with increasing foreclosures and short sales, both of which will continue to tax the FHA and FHA may not be in a best position to carry out the National Refinance Program.

It is also suggested to levy a surcharge or tax the banks to cover up the capital shortfall of the FHA and implement the National Refinance Program. But this has been received by the banks very, very poorly. The point here is more levies or tax on the banks will result in “More Cost to the Consumer” as the banks will pass on the levy to the ultimate consumers to protect their profits.

This is pandemonium all round and don’t hold your breath by any means. This is a piece of news which will certainly interest you. If you want live like the President of America here’s the chance. President Gerald Ford’s Rancho Mirage home is up for sale at $1.699 Millions. This 6 bedroom, 4.5 bathrooms home boasts of many facilities and you can also have the original furniture at an undisclosed price. This one would be one hell of a deal for the investor, the listing agent and the realtors.

Coming back to the Freddie Mac issue, there is a clear conflict of interest between its charter and the way it is conducting business in the market. Unless this anomaly is removed, the chance of housing recovery happening soon looks a distant possibility.

Do us a favor and subscribe to this site for free. You can always forward and share this one with any one you think might use it. See you again soon for more information on Bank Owned Homes Albuquerque, Wes Moore.