Yesterday, President Obama announced The Homeowner Affordability and Stability Plan right here in Mesa at Dobson High School. Moments after the announcement, Fox Business asked me about my take on the announcement. To sum it up? Wait a couple of weeks, ask me again and I might have a better idea of what I think after the details have been released. … [Read more...]
The Homeowner Affordability and Stability Plan
Yesterday President Obama announced his Homeowner Affordability and Stability plan and people are saying it could help 7-9 million homeowners. That is quite a few families! There are many numbers being thrown around when talking about this plan, but the real magic number of the Homeowner Affordability and Stability plan is one. One as in the number 1. You. Will this plan help You? The … [Read more...]
Will Interest Rates Go To 4.5%?
As seen on ABC 15 News... What do the Oklahoma Sooners and a 4.5% interest rate have in common? They may both be part of a land grab. Ok, not really, but the national (and local) media sure did jump on the story that broke in the WSJ about the possible plan for the government to do everything in its power to lower the target interest rate for people buying a new home to 4.5%. … [Read more...]
New Standard Good Faith Estimate Effective January 2010
Today it was announced that HUD has adopted a new 3 page Good Faith Estimate as part of its RESPA reform package that will be standard among all lenders and go into effect in January of 2010. The new standard Good Faith Estimate is part of a RESPA Reform package that has been in the works for years. Before the announcement, HUD reviewed approximately 12,000 comments and in considering these … [Read more...]
Emergency Economic Stabilization Act of 2008 – House Votes “NO” But Debate Rages On
We mentioned (in jest) late last week that "On tap for next week: the world is coming to an end" and after today, I have to wonder. Today, the House voted "no" to the Emergency Economic Stabilization Act of 2008 and the markets responded by promptly going in the tank and posting the largest-single-point-drop-in-one-day-in-history. But wait. According to Bloomberg, Secretary Paulson is … [Read more...]
Emergency Economic Stabilization Act of 2008 – Draft
Love it or hate it, the "bail out bill" goes to a vote in the House on Monday and the Senate on Wednesday. It is still in DRAFT form, but I think it is safe to expect some form of this bill to pass into law this week. For all those of you who like reading the fine print of your tax forms, you can see a summary of the bill as well as the a full draft of the bill in it's proposed form. (Hat … [Read more...]