With the economic squeeze the country is in, a lot of us are feeling the effects, and a lot of people around Atlanta - okay, around the country - have had to rely on their credit cards for everyday expenses. And, we've all done it. "Well, just this time, because things are tight, and I ...
Monthly Archives: February 2009
Good News: Revised FHA Loan Limits
In the midst of a continuing tightening of loan standards, we received some bit of good news, on FHA mortgage loan limits for metro Atlanta. As you may or may not know, the max. loan limit for FHA loans in metro Atlanta was lowered from $346,250 ...
Tough (Economic) Love
Peter Schiff wrote a compelling article spelling out the possible scenarios for the economy. I have linked to it above, and I hope you will go and read it. I think you will find it compelling; even if, in good Peter Schiff style, it ...
Government to Bailout Underwater Homeowners
Just a quick note to let you know that I am following this announcement from last week that the government will begin to bailout homeowners who can afford the home, but are under water and cannot refinance. And, based on my experience talking to folks here ...
And Inflation is Here
For a few months now I have been warning that inflation, and probably a heafty amount of inflation, is just around the corner. Well, based on today's Producer Price Index numbers, it's here! Here is a Yahoo article about the inflationary numbers. And with ...
The New and Improved First Time Home Buyer Tax Credit
Basically the tax credit for first-time home buyers went from $7500 to $8000, with the difference that the tax credit now does not have to be repaid at all. Before, it was to be repaid over a 15 year period. Here is a link to information ...
First Time Home Buyers Will Be Happy
A lot of talk has swirled around the $15K tax credit for all home buyers in 2009 that was proposed as part of the stimulus package. Then, reports were that the credit was paired back to $7500, but still all home buyers would receive the ...
The Fallacy of a 4% 30 Year Fixed Rate
I have heard the story that the Obama administration wants to bring 30 year fixed mortgage rates down to 4%. But I have not heard how they will do it. The only way they really have of lowering rates is by buying Mortgage ...
The Glass Just Got Half Full (Or Half Empty?)
Sen. Johnny Isakson had proposed the tax credit of up to $15,000 for all homebuyers this year. The stimulus bill that this proposal is included in is in committee right now, with House and Senate members working out details and making their two versions of ...
A History of Bailouts
I received an interesting email today from a friend, Chris, with a thought-provoking similar situation to the current US Bailouts in the works. In the decade of the 90's, Japan went through a similar major downturn in their economy. And, - they reacted with a ...