On March 31, the Federal Reserve will stop buying mortgage-backed securities from Fannie Mae and Freddie Mac, returning control of interest rates to private investors. Many had thought that once this occurs, mortgage rates would rise quickly. That sentiment is not held by many economists who feel that there is significant private investor demand that…
Category Archives: Mortgages
Florida’s $8K Tax Credit Downpayment Program
The program utilizing the Government’s $8K tax credit as a downpayment became effective July 1. Unfortunately, there is no money as they are relying on current home sales’ Doc Stamp taxes to fund the necessary reserves. The Florida Homebuyer Opportunity Program’s (FLHOP) $8,000 tax credit is a bridge loan (short-term loan) administered by the state’s…
Bear Lake Woods – Apopka, Seminole County, Florida 32703 – Homes For Sale
Bear Lake Woods is an approximately 100 single-family home community located in the Seminole County portion of Apopka built in the mid ‘90’s with the majority of the homes in the 2000sf range. Bear Lake Woods is a great place to live! For information on Apopka and Seminole and Orange County real estate and Apopka and Seminole…
The Fed Rate and Mortgage Rate – What Does This All Mean?
First a little history. The Federal Reserve System (commonly referred to as The Fed) is the central banking system of the US and is made up of 12 regional banks. The Fed manages the nation’s money supply via its use of monetary policy. This refers to The Feds ability to influence the availability of money…
Foreclosure Plan – Is this a Panacea or a Step in the Right Direction?
There was an article in this morning’s Inman News Headlines by Glenn Roberts, Jr. entitled “Foreclosure fix: “‘The Last Chance Mortgage’ – How we got into this mess and how to get out.” The article was in regard to John Vogel, Jr’s. plan to not only solve the problem that we’re facing but to go…
Mortgage Bailout – Who’s Getting Bailed Out and Who’s Bailing Out!
OK, let’s start with a brief understanding of the mortgage industry. You buy a property and obtain a mortgage. The lender then packages that loan with many others and then they are sold to investors. Simple, right! OK, so now we come to the mortgage debacle that we are seeing in the subprime market and…
The Dreaded ‘R’ Word – Recession
On this day in history… Benjamin Franklin wrote “There never was a good war or bad peace” in 1773. Alexander Hamilton appointed 1st Secretary of Treasury in 1789. Stephen Foster’s song, “Oh! Susanna” was first performed at a saloon in Pittsburgh, Pennsylvania on September 11, 1847. 1st newspaper cartoon strip was printed in 1875. 1st…
