Home Loan Modifications Negotiated by Licensed Attorneys. Real Estate & Mortgage Laws and Guidelines are Complex. Beware of the Banks Loss Mitigation Department. Go To RealEstateMarketingThisWeek.com Part 6 (Excerpt) Fannie Mae is proposing to give you a 50 year loan with an adjustable rate The next one is that your loan to value on your house has to be at least 90% of the property value. So in other words everyone under 90% gets foreclosed on? Right, if you only owe 80% of what your home is worth, they can foreclose on you, take your house and they dont lose as much money. Back when I was working with Fannie Mae selling repos almost 20 years ago now, they always gave us the figure that they lost 20% of the homes value every time they had to foreclose. So they have plenty of room to sell your house if you only owe 80% on it. So if you owe, lets just throw out some numbers here, lets say your house is worth 0000 and you owe 000 on it, well they are going to lose a little bit but they are going to make it back when they sell your house for 0000. Yes, they would just as soon kick you out and keep their money. Yes, exactly I am not necessarily going to say that Fannie Mae is going to kick you out of your house, however the reason why they have this guideline is very simple, they are not going to lose money on you if they have to foreclose on you when you are under 90%. They certainly are not going to lose very much money. If you have subordinate loans it may be left …
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www.interest.co.nz Intro Hello. I’m Bernard Hickey with daily briefing from interest.co.nz… Today, we’ll look at why the 3 month US Treasury bill rate hit a 50 year low of 0.56% overnight. This sounds like a dry discussion. It’s not. It’s all about financial market terror. Than we’ll look at the latest from the Fairfax Media Home Loan affordability survey, which shows affordability remains at woeful levels. Terror on Wall Street But firstly, we look at something not seen in financial markets for 50 years. Last night the interest rate for 3 month US Treasury bills fell to a record low of 0.56%. What this means is that investors are so desperate to get their hands on these things they bid up the price so high that the yield dropped to 0.56%. One thing to remember whenever you’re looking at markets for fixed interest securities. When prices go up interest rates go down. This reflects nothing less than complete financial market terror. People are so afraid of being stuck with a share or a bond that collapses in value that they want to buy the one sure thing they know. That’s a debt protected by the power of the world’s biggest government to tax the world’s biggest economy. To give you an idea of how low this is, just compare the 3 month Treasury bill rate with the 90 day bank bill rate in New Zealand, which is currently at 8.86%. The gap between New Zealand and US short term interest rates is now over 8%. That will protect our currency for now as foreign investors who want …
Video Rating: 4 / 5