President Bush addressed worries that the subprime mortgage meltdown could prompt a further wave of defaults and foreclosures.  The released a proposal that doesn't offer a bailout for real-estate speculators but to reform the tax code for homeowners and bring better transparency to the mortgage ...
Thank you to all our veterans and our government appreciates you too.  Ginnie Mae has announced that it is eliminating the cap on the size of VA loans that may be placed in Ginnie Mae pools effective September 1st.  On any VA loan, the available guaranty and veteran cash downpayment must equal 25...
Fellow professionals - please do what is right for your client in the short and long term.  Do not set them up for failure just to get a deal done.  Get the deal done if it is meant to be so that you have a client for life.Due to rising debt and falling home values, Minnesotans are filing for Cha...
The Swenson family of Minnetonka expanded after a wrenching intrusion of tragedy.  Now, thanks to "Extreme Makeover-Home Edition" their home also has grown.  This wonderful couple are teachers at Hopkins High School.  They are a family of 9, soon to be 10.  Four of the children were Vicki's siste...
Finally help may be on the way to help with ARMS adjusting, subprime loans, default loans...people that have been financially in the red with their mortgage payment.  Our government is listening, seeing, and acting.  What more can we say?  THANK YOU!  My company belongs to a co-op called Americas...
 A proposed cutoff of mortgage-interest tax deductions for all houses with more than 3,000 square feet may be added to the mortgage meltdown miseries of the credit panic, plunging homes sales, and rising foreclosures, and now a new worry: John Dingell, D-Mich., an experienced and powerful legisla...
There are many things happening in the world that we have no control over.  What kind of a business do you run?  How are you planning for the future?  What are you doing to make a difference for your business partners, associates, employees, clients?  Are you a leader, follower, or still trying t...
What an awakening for a Monday afternoon.  We will continue to see a shakedown in lenders and programs.  Please keep in mind that some of the talk is rumors and 90% (my opinion) of what the news broadcasts through tv and newspaper is inaccurate.  It is imperitive that everyone just make sure they...
Mortgage Meltdown FAQ'sWhat is the Mortgage Market Meltdown?   A culmination of factors that has led to massive tightening in credit standards among lenders. This tightening is due to an excessive number of mortgages that are delinquent and in default. As a result of tighter credit standards and ...
The days of poor credit and no downpayment are over. There are many loan programs out there that will work for the majority of homebuyers including first time homebuyers.  It is imperative that buyers, realtors, cpa's, financial planners, attorneys, etc. work with lenders that spend time each and...

Joyce Windschitl Hercules

MN, FL, WI & CO Mortgage Consultant
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