Blitz Says Tighter Mortgage Lending Is Hurting Housing

22 January, 2012

Jan. 20 (Bloomberg) — Steven Blitz, an economist at ITG Investment Research, Daniel Alpert, managing director at Westwood Capital LLC, and Stephen Wood, chief market strategist at Russell Investments, talk about the U.S. housing market, increased lending standards at banks and the European sovereign debt crisis.
They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

Duration : 0:15:50

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East Cap Mortgage Video | Real Estate in Rochester

10 January, 2012

http://henrietta.whec.com/business-directory/real-estate/60945/eastcap-mortgage

At Eastcap Mortgage we can tailor your Home Loan package to fit your needs and determine which loan program is best for you using many factors such as in-come, credit, work history and expected period of home ownership AND many lenders to choose from.

My involvement with your loan does not stop at the application….I keep track of your loan status throughout the entire loan process from application to closing. I am your only point of contact so you don’t have to talk to someone who may not be aware of your situation.

I am always available to answer any questions and to offer my experience and knowledge in order to assist you. I can be reached by email at snally@eastcapmortgage.com or you can call my cell at 585-733-0831.

Feel free to visit our website www.eastcapmortgage.com for information regarding the home buying process as well as credit repair.

12523138

Realty, Real Estate, Mortgage, House, Home, Living, Rochester, Henrietta, New York

Duration : 0:0:44

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Fixed and Adjustable Rate Mortgages Compared Interest Only

08 January, 2012

(Best Syndication) This video will explain various mortgage options including a fixed rate mortgage (sometimes called a FRM), an adjustable rate mortgage (sometimes referred to as an ARM), and interest only loans. Although fixed rate mortgages are usually more desirable, there are instances when customers may want to choose either an adjustable rate mortgage or even an interest only loan.

The interest rate of a fixed rate mortgage remains constant throughout the loan term. Payments are fixed and will not vary, and this amount is independent of the additional costs on a home including as property taxes and property insurance. Some lenders may require an impound account for both taxes and insurance. This benefits the lender by ensuring that these required payments are made.

If there is very little money down, the lender may require an impound account. But impound accounts can confuse the borrower who is not sure if those payments were actually made. In some instances they may continue to be billed by the county assessor and / or the insurance company.

Adjustable Rate Mortgages have become very popular lately. They are characterized by low initial payments which make it easier for the borrower to qualify. This allows borrowers to qualify and purchase larger homes.

The payments may be adjusted periodically with the interest rate tied to an index. Common indexes include the 11th District Cost of Funds Index (COFI), London Interbank Offered Rate (LIBOR), 12-month Treasury Average Index (MTA), Constant Maturity Treasury (CMT), National Average Contract Mortgage Rate, or the Bank Bill Swap Rate (BBSW).

Adjustable rate mortgages are usually easier to qualify for because the lender is protected from spikes in interest rates. But lenders and investors need to consider the default rates due to hybrid adjustable rate mortgages which offer an initial low payment period. After that period the loan payments are adjusted upward and may even double leading to defaults and foreclosures.

But what do the numbers mean in Hybrid mortgages? A 3/1 ARM means the payment is fixed for a 3-year period and a subsequent 1 year adjustment period. After a specified “reset date” the loan is free to adjust or “float” to the index specified in the loan documents.

When interest rates are high borrowers may prefer an adjustable rate loan. If a borrower feels that he or she may sell their home within five or maybe ten years, they may consider either an adjustable rate mortgage or an Interest Only Loan. If property values increase in that period the home buyer benefits because they invested less money compared to a standard Fixed Rate Mortgage.

Borrowers with Interest Only Loans pay only the interest for a specified period of time. Unlike Adjustable and Fixed Rate Mortgages, no principal is paid on the loan. At the end of interest only period the loan may convert to a regular amortized loan or a balloon payment may become due. The terms are spelled out in the loan agreement.

In the United States a five or ten year interest-only period is typical. After that time the loan usually converts to a regular amortized loan for the remaining term. For instance, a homebuyer may pay interest only for 10 years but then pays both interest and principle for the remaining 20 years of a 30-year loan.

Adjustable rate and interest only mortgages can help buyers qualify for larger loans and homes. There is a risk to both the borrower and note holder when the loan either resets or converts to a regular amortized loan. For this reason lenders will usually require a higher interest rate on these types of loans.

Homeownership offers many advantages when compared to renting. This presentation was not meant to be advice. Always consider all of your options and talk to loan and / or real estate professionals before making your decision.

Duration : 0:5:37

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European Markets & the Fed [NBC 11-15-2011]

20 November, 2011

The subprime crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see Financial crisis of 2007–2010 or Global financial crisis of September–October 2008. Home sales continue to fall. The plunge in existing-home sales is the steepest since 1989. In Q1/2007, S&P/Case-Shiller house price index records first year-over-year decline in nationwide house prices since 1991. The subprime mortgage industry collapses, and a surge of foreclosure activity (twice as bad as 2006) and rising interest rates threaten to depress prices further as problems in the subprime markets spread to the near-prime and prime mortgage markets.

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Duration : 0:13:12

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RBC’s Cloherty Favors Mortgage Bonds Over Corporates

09 November, 2011

Nov. 8 (Bloomberg) — Michael Cloherty, head of U.S. interest rate strategy at RBC Capital Markets, talks about his investment strategy for bonds.
Cloherty also discusses Federal Reserve monetary policy and Europe’s sovereign debt crisis. He speaks with Tom Keene on Bloomberg Television’s “Surveillance Midday.” David Gordon, head of research at Eurasia Group, also speaks. (Source: Bloomberg)

Duration : 0:10:5

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TheAdvisory.co.uk Helps Sellers Find The Best Mortgage Deals And Remortgage Deals

04 November, 2011

http://www.theadvisory.co.uk has an extensive library of information to help sellers find the best estate agents, faster and cheaper conveyancing solicitors, Cheap Mortgages And Home Improvement Loans. Visit the site for more information.

Duration : 0:1:19

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520LOAN – Allied Home Mortgage Corp Info

11 October, 2011

Testimonials and Company information for Terry Green, Mortgage Lender at Allied Home Mortgage Corp. Where to go to get a good mortgage.

Duration : 0:2:2

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KingCast/Mortgage movies visit with Wells Fargo Advisors “We’re not the mortgage side!”

02 October, 2011

http://mortgagemovies.blogspot.com/2011/09/kingcastmortgage-movies-present-visit.html…..Wells Fargo Advisors operate wholly independent of the embattled mortgage side… and never the twain shall meet!

Remember that.

Duration : 0:3:38

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Miller Says FHFA Mortgage-Fraud Lawsuit Hurts Housing

06 September, 2011

Sept. 2 (Bloomberg) — Paul Miller, managing director at FBR Capital Markets Corp., talks about a potential lawsuit by the U.S. Federal Housing Finance Agency against Bank of America Corp. and other lenders over faulty mortgage loans.
Miller speaks with Adam Johnson on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)

Duration : 0:4:25

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It Continues: S&P Now Downgrades Fannie and Freddie

25 August, 2011

That should have happened years ago…but I’m fine with it.

If there is a god, I will live to see Franklin Raines Jamie Gorelick Barney Franks and Christopher Dodd, perp walked to jail.

Duration : 0:3:7

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