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Personal Finance and Retirement Archives

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The Home Building Slowdown - 2007-01-25
The madness of the nation's housing bulls reached new highs this week as they continued to chortle that the show must go on. Desperate for fresh evidence that the boom still has legs, they even stooped so low to quote a government report, of all things.

Study Finds Homes to be Unaffordable in Most U.S. Metro Areas - 2007-01-18
During the bubblicious frenzy, the mantra of the real-estate crowd was as simple. Housing, they said, was nothing like stocks. And in a certain respect they were right. Because although I have never heard of anyone who had to qualify to by equities, everyone that I know of had to get a loan to buy a house.

What Your Loan Officer Doesn't Want You to Know - 2007-01-11
Just for laughs, ask your mortgage broker what the yield spread premium (YSP) is on the loan he is doing for you and watch him squirm. Or better yet, go over some of your old settlement statements and see exactly how much money your broker may have made on your last loan without your knowing it.

A Not so Happy New Year: Another Sub-Prime Lender Cuts its Workforce - 2007-01-04
The New Year got off to rough start for the employees of Mortgage Lender’s Network (MLN) yesterday, when the Connecticut-based sub-prime lender announced that it was no longer in the business of funding or originating loans.

Regulators Order Fannie and Freddie to Comply with New Guidelines - 2006-12-28
Watching the government do practically anything is often akin to watching molasses run down the hill in January. But like that slow running ooze it eventually manages to accomplish its feat. Nowhere has this been more apparent than in its attempts to rein in the mortgage industry.

Study Projects 2.2 Million Sub-Prime Borrowers to Lose Homes - 2006-12-21
In a 58-page study released yesterday, the Center for Responsible Lending (CRL) predicts that some 2.2 million sub-prime borrowers will lose their homes to foreclosure in the coming years, forfeiting over $164 billion in household wealth in the process.

One Way Off the Hook - 2006-12-14
The latest foreclosure figures were released yesterday, and in a word they were ugly. According to RealtyTrac, the leading online marketplace for foreclosure properties, another 120,334 properties nationwide entered some form of foreclosure during the month of November.

Animal House Lending - 2006-12-07
For Scott Greenlaw, CEO of Merit Financial in Washington State, 2004 was one great year. His mortgage company was closing deal after deal and he had been selected by the Puget Sound Business Journal as one of its distinguished “40 Under 40,” a group of young entrepreneurs and rising stars in the business community.

The Jokers, Fools, and Wolves in Home Finance - 2006-11-30
As the ultimate showman of his time, P. T. Barnum sure knew how to draw a crowd. In fact, as he lined his pockets with their dough time and time again he became famous for his quip that “there’s a sucker is born every minute.”

Thankful for America - 2006-11-23
The Mona Passage, the strait between the Dominican Republic and Puerto Rico, is a dangerous place. It is here that the Atlantic Ocean meets the Caribbean Sea in a swirl of currents that are among the most difficult and treacherous to navigate in the world.

Life on the Courthouse Steps - 2006-11-09
The story of Zudhi Karagjozi is as old as America itself. From a modest beginning selling real estate in Queens, NY, Mr. Karagjozi grabbed his first rung on the ladder, continued to climb, and when he was done he was the proud owner of Kara Homes, one of the largest builders in New Jersey. Like so many before him, he too rose from his immigrant beginnings to the very zenith of the American Dream.

An Avalanche of Mail - 2006-11-02
When I introduced the “Mortgage Matters” aspect of this column last week, I was prepared for a fair amount of interest. But what has come in since that column ran has been nothing short of an avalanche of inquiries.

Introducing "Mortgage Matters" - 2006-10-26
Gene Hackman is a great actor. He played the lead in one of my favorite films from the 70s, "The Poseidon Adventure." It’s the unforgettable story of a cruise ship that is struck and capsized by a massive tidal wave at midnight on New Year’s Eve.

NEWSFLASH...The Fat Lady Has Sung - 2006-10-19
Baltimore, Md.—It may have taken a while and may have been long overdue, but it has finally happened—the fat lady has sung at last. And in singing as she did, she unleashed a monumental downpour on the dreams of housing bulls everywhere.

Alan the Preposterous Rides Again - 2006-10-12
Alan Greenspan probably never met Neville Chamberlain, but the two men certainly share a penchant for the preposterous definitive statement. For Chamberlain, of course, it was that memorable “peace for our time” quote as he stepped off the plane after being bamboozled by Hitler in Munich in 1938. And for Mr. Greenspan it was a gem that he delivered earlier this week.

In Their Own Words - 2006-10-05
The housing story is big one, in fact, I believe that it’s monumental. But as important as this story is, it is also a big one simply by the breadth and variety of smaller stories that have collectively made the bubble what it has become. And if you don’t believe me when I write that the bubble has popped, just listen to words of the some of the folks at ground zero.

Home Prices Meet Mr. Market - 2006-09-28
Baltimore, Md.-Of all of the many things that the internet has given us, I think that Ebay is one of the coolest. It’s the only place on earth that I know of where you can buy a 1957 Johnny Unitas football card, a Florida Vacation home and a lucky tube of air all in the same visit.

Housing's Humble Pie - 2006-09-21
Baltimore,Md-Thomas M. Stevens should have known better. After all as the reigning president of the National Association of Realtors, he is a guy that ought to have some bona fide real estate savvy. How couldn’t he?

Real Estate's Unholy Trinity - 2006-09-14
Buying a home is an exciting experience. In fact, it’s kind of giddy, because for a lot of people it represents something of a fulfillment of a dream. That’s how deep the belief in home ownership is in America and the rest of world. But as exciting as the experience is for the homebuyer, it’s extra exciting for the members real estate industrial complex, especially the realtors, the loan officers and the appraisers

The Wrath of the "Mortgage Moms" - 2006-09-06
First it was the “soccer moms.” And then it was the “security moms.” But today, according to a story in the Washington Post, our nation’s political future is now in the hands of the “mortgage moms.” And given the state of today’s housing market, they are clearly on to something.

Baghdad Bob Comes to Baltimore - 2006-08-28
My hometown newspaper the Baltimore Sun just can't seem to make up its mind. Just last month the paper went to press with a three part story entitled "The Coming Housing Crunch." It was the epitome of folly.

Home Sales Down, Saint Statues Up - 2006-08-23
At Ward's gift shop in Boston there has been a run on St. Joseph statues. In fact, they are selling so many that the owner, Donald Ward Cranely, is having a hard time keeping them on the shelves.

Housing's Ill-gotten Gains - 2006-08-14
Honesty is the best policy. Twain knew this well. But unfortunately in the housing market the truth is often the first casualty of the bidding war.

The Game Has Changed - 2006-08-09
Baltimore, MD- Where once there were fortunes made only the weeds now grow. But it's not the weeds here that are so noticeable as it is the silence.

Ho...Ho ...Ho...These Homes have Got to Go - 2006-07-31
Throw another Yule log on the fire, grab yourself another eggnog, and call the kids down to unwrap their presents. Sure it is a little hot outside, but it's never too early to be thinking about gifts.....lots and lots of gifts.

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