How Will the Government Shutdown Affect Mortgages?

What does the government shutdown mean to you if you are applying for a home loan? For now, essentially nothing! If you’re thinking of applying for an FHA loan, you can still move forward as planned. Several media outlets mistakenly reported that there would be a shutdown of FHA’s Office of Single Family Housing. These [...]

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Do You Believe in Signs?

If you pay attention, just keep your eyes and ears and intuition open, there are bits of information that foretell the future. In 1982, when I was a wet-behind-the-ears stock broker, interest rates were 17%. Nothing much was happening at work, so I took off for Hawaii for a few days. It was October. I [...]

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Real Estate vs the Stock Market

In the 80’s I was a stock broker then after a few turns in the road, I became a mortgage broker. Still the age-old debate: is the stock market or real estate a better investment? Other than the usual discussion about liquidity vs non-liquidity there is a clear winner. When there’s volatility in the housing [...]

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Thomas Friedman – Economic Recovery?

Before my workout this morning, I was watching The Early Show on CBS. There was an interview with Tom Friedman, the New York Times foreign affairs columnist. I really like listening to Tom. He’s very clear in his explanations of what’s happening in the world without a lot of editorializing and jargon. This morning Chris [...]

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The Story This Past Month

For those of you who like me are visual, I’m posting a simple graph that shows what the mortgage backed securities have done since May 12.  They hit their low point on May 14. Don’t forget, rates move inversely with the price of the security so you can see how dramatically they have shifted in [...]

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Not everyone loses

Ok, I admit this has nothing to do with mortgages and real estate, but all of us who tend to get caught up in how awful things are right now, could take a lesson from these giants.  It all comes from having a vision and believing in yourself.  We can all learn to rise above. [...]

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The Best Explanation I Have Ever Seen

I found these videos on revolutionradio.org.  Without question (and without the usual “jargon”) these are the best explanations of what has caused our current predicament that I have ever seen.  And it shows why it’s much more wide ranging than just mortgages. Sit down with a martini before viewing: Now get your second martini: As [...]

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An Old War Horse

Who’s the Old War Horse?  Why, me, of course.  I’ve lived through so many up-swings and down-turns in the market – it’s exhausting.  In the early 80’s when I was a stockbroker, rates were in the mid to high teens.  The later 80’s saw drastic changes in the real estate depreciation laws causing a crash in [...]

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