Several news sources are reporting that a bailout bill agreement has been tentatively reached between congressional leaders and the White House.  From the Wall St Journal "Senate Majority Leader Harry Reid (D., Nev.), in an appearance on the Senate floor Saturday, said there are only a "handful of issues still lingering" for lawmakers to finalize. He said his [...]

Your home loan?s amortization schedule is the breakdown of repayment necessary to pay off your mortgage loan. There are two parts to your mortgage payment: loan principle that pays down your balance and loan interest. Your amortization schedule shows you how much of your payment is applied to the loan principle and how [...]

The Darkness is considered on of the best Haunted Houses in the United States. If you are in the St. Louis, Missouri region and like to be scared, this is the place for you. The combination of technological special effects and amazing design will scare the most jaded of Halloween connoisseurs. With 2 stories of newly [...]

Randy Johnson of Newport Beach, author of ?How to Save Thousands of Dollars on Your Home Mortgage? and a mortgage broker since 1983, answers questions. Peggy in Portland, Oregon asks: Q. We have been trying to do a refinance on an investment property. The entire experience has been a nightmare, drawn out, requesting yet more information [...]

It's pretty amazing how in the span of just under 3 weeks that? Fannie Mae & Freddie Mac were seized by the government Leman Brothers went into bankruptcy Bank of America buys Merrill Lynch before they go into bankruptcy The Federal Reserve gives AIG an $85 billion loan President Bush seeks a $700 billion Bailout Goldman Sachs & Morgan Stanley turn [...]

Friday Bailout Funny. (h/t Graeme) Share This

So the biggest bank failure in the history of our country occurred yesterday and quite frankly was somewhat of a non-event. The quick FDIC step-in and subsequent fire sale to JP Morgan kept bank failure on page two with the $700 billion federal bailout clearly the bigger headline. This is something that hopefully not too many people got burned by. The writing has been on the wall for months, and if you chose to gamble with your money above the FDIC limits then I have little sympathy for you. The WaMu failure was like a big spinning hurricane that took forever to land - if you didn't evacuate ahead of time shame on you. Not to gloat, but we called the WaMu failure a discreet possibility almost a year ago, simply by looking at option ARM profits and wimpy loan loss reserves. We also th

Many changes with FHA financing will go into effect with the passage of HR 3221 by the time I post rates next Friday.  Effective October 1, 2008: Down payment assistance programs (such as Nehemiah) will be a no-no (without the passage of new legislation). Minimum down payments are increased to 3.5% (from 3%). Mortgage insurance premiums are increased. Also with the [...]

Watch, pause when it is too fast, and then watch again. A montage on the economic crisis that is worth the price of admission. http://www.youtube.com/watch?v=H5tZc8oH–o Thanks for reading this post. If you would like to see more articles like this, please come visit The Real Estate Bloggers. where it was originally published. Great Video on How Subprime [...]