Looks like the Feds are letting go of some of the repair money. For mortgages with an 80% 20% split CNN is reporting the Obama administration will be release funds to have the secondary lenders recover what they are losing. The net effect should lower mortgage payments for a few million borrowers.
Here's a story that highlights the importance of knowing what's happening locally. CNN reported prices continue to fall. But remember they are using data from 20 metro markets. The numbers are not a fair reflection of our numbers. And then there's this jewel. If you're as tired of doom and gloom as I am don't read this. It's another reminder of why I encourae people to look closer to home for their news and trends.
I spoke with a mortgage lender today who said they are as busy as they where in 2005. This article talks about the high number of mortgage apps. So why are home sales so soft? What these headlines and the lenders are telling is that most of the activity is from refinancing.
I spoke with a mortgage lender today who said they are as busy as they where in 2005. This article talks about the high number of mortgage apps. So why are home sales so soft? What these headlines and the lenders are telling is that most of the activity is from refinancing.
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