Could things get worse? Well, according to a piece by Les Christie of CNNMoney.com, the answer may be yes.
Turns out, prime mortgages are starting to default at disturbingly high rates - a development that threatens to slow any potential housing recovery.
Here is yet another strong and very expert view who says — you bet: […]

Today, Bloomberg News reported that 100 of the world’s biggest banks losses from the U.S. sub-prime crisis, and the ensuing credit crunch, crossed the $500 billion mark as write-downs spread to more asset types.
Further exacerbating the situation we now see that auction-rate securities have begun adding to the losses as regulators and prosecutors force banks […]

Much of the news over the summer of 2008 has been negative, somewhat depressing, and duplicative. Unfortunately, our post today is much of the same, but there comes a time when there is just no way to avoid the news. The truth is that we need to know how to set our course in the days to come.
As reported […]

Is there finally some positive real estate news to report on? Looks like it. As we drill down on the raw data, and move away from a macro view, there just maybe activity that is starting to turn positive.

As reported in The Mortgage Reports, for the third straight month, at least 15 of the nation’s 20 largest […]

The omnibus housing bill, otherwise officially know as Foreclosure Prevention Act of 2008, passed  in a 72-13 vote Saturday (July 26, 2008), the Senate concurred with previous House amendments to HR 3221.
In effect, the passing of this bill, grants the Bush administration’s request to give the Treasury Department the temporary authority to buy an unlimited amount of the […]

As just reported in InmanNews, shares of Fannie Mae and Freddie Mac hit 17-year lows today (July 10, 2008) as investors’ fears about the companies’ ability to raise additional capital fueled speculation of the possibility of a government bailout.
Along these lines, the Office of Federal Housing Enterprise Oversight (OFHEO) has issued a statement on the […]

What will 2009 do to our home values and networth? Read on, and see what some experts predict.
 BofA sees additional 15% drop in real estate prices: Bank of America expects home prices will fall an additional 15 percent nationwide and 20 percent in California, BofA Chief Executive Officer Ken Lewis said in an interview with […]

Effective June 1, 2008 Maryland Senate Bill 363 went into effect, basically eliminating all lenders from closing any Alt Doc loans (NINA, NO RATIO, STATED Loans) where income has not been documented to show the borrowers can afford the monthly payments.
Maryland is the fourth State (West Virginia, Minnesota, and Ohio) to pass this type of […]

Applications for U.S. home mortgages, as reported by CNBC, fell to its second-lowest level of the year last week as interest rates rose, as the Mortgage Bankers Association (MBA) said in its seasonally adjusted index of mortgage application activity.
Name the category …. none of it is positive:

The number of applications for mortgages fell 7.8 percent […]

The news is certainly not good these days. The beginning of 2008 has not been pretty. Perhaps we can find a niche’ or some sort of viable approach that gets us the credit needed to move forward and do deals. 
I always believe that information is power, so here it is … unedited and unfettered …. 
As reported by Rex Nutting, Washington […]