by
Peter G. Miller
December 6th, 2007
The President’s foreclosure relief program is out. It won’t do much of anything that could not have been done last week without the President’s foreclosure relief program.
Essentially the program is a voluntary effort that the better lenders, servicers and investors will easily adopt. As to the rest of the lender community, they’re the very read more
Posted in
|
No Comments »
-
-
|
-
-
|
-
by
Peter G. Miller
December 5th, 2007
It seems so seductive, the idea that huge numbers of borrowers could be saved from foreclosure by merely keeping interest rates at original teaser levels. That’s the plan put forward by Sheila Bair, chairman of the Federal Deposit Insurance Corporation.
Bair says forget about modifying loans on a case-by-case basis. Instead, let’s have a blanket read more
Posted in
, |
No Comments »
-
-
|
-
-
|
-
by
Peter G. Miller
December 4th, 2007
The Los Angeles Times asks “who owns your home” and then comes up with this answer:
“Most people in the U.S. buy houses using mortgage loans from banks and other lending institutions. In theory, the firm that issues your mortgage owns your property until you pay off the loan. In practice, however, that’s not read more
Posted in
|
No Comments »
-
-
|
-
-
|
-
by
Peter G. Miller
December 4th, 2007
My father was a CPA until almost age 90 and he was an unusually bright guy. He did complex accounting work and, most remarkably, he could accurately add columns of figures in his head, often tens of millions of dollars.
Now members of his chosen profession have chimed in with some ideas regarding the current mortgage read more
Posted in
|
No Comments »
-
-
|
-
-
|
-
by
Peter G. Miller
December 3rd, 2007
HUD has just announced that the FHASsecure program has already been used by 33,000 homeowners to prevent foreclosure.
While there are any number of issues one can have with HUD, the FHASecure program is a real winner that’s been intelligently designed to help borrowers with toxic loans. It read more
Posted in
, |
1 Comment »
-
-
|
-
-
|
-
by
Peter G. Miller
December 2nd, 2007
HUD has announced a new program to unload inventory in several states: Colorado, Michigan, Montana, Ohio, Pennsylvania (selected) counties), Utah and Wyoming.
The way it works is that the borrower can purchase a property for $100 down. HUD will pay as much as 3 percent of the sale price to offset closing costs, plus it will finance read more
Posted in
|
5 Comments »
-
-
|
-
-
|
-
Listen to FHA Loan Pros columnist Peter Miller on American Public Radio: 
RSS Feed
