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ARCHIVED BLOG POSTS
Yesterday I detailed how subprime loans are chopped, diced and sold into various segments to investors. I think it was pretty clear but just in case here's a refresher course (YT Video) from CNBC: LINK The important take away is that the company that you think might own the mortgage is in fact...
You probably have heard the good news. California is set to be hit hard by foreclosures. It already is being hit hard. That's not the good news (unless you are a Repo Man). Last week, Gov. Arnold Schwarzenegger announced he had struck a deal with four subprime lenders. While you've heard of t...
Saturday, November 17th: Over 58,000 volunteers participated in over 1,000 projects in more than 450 cities across 100 countries. Really? That's the line from the Citi issues press release. Does that mean it really happened? I can't say. Is this just another large company pumping out pseu...
I'm a mortgage guy. I even go so far as to call myself "The Mortgage Guy". See ===============> But when it comes to the Equity and Bond Markets, I consider myself a just a student. Every now and then, I look and see who has linked to my blog, or re-posted something I've written. M...
File this under "HARD TO BELIEVE" (but true!) Do you have a Home Equity Line of Credit on your home? How about on your rental home? A HELOC can be a great way to tap into your home's equity. A HELOC is based on the Prime Rate. Some banks offer the ability to "fix" a portion of what you ...
Starting tomorrow, the rules for how a company carries a particular asset on it's books is going to change. The Financial Accounting Standards Board These are the guys who set the rules for all accounting here in the United States. I'm talking about FASB 157. If you go to the website you ca...
I'll be a "Band Dad" again this weekend. The Ygnacio Valley High School Marching Band will be loaded and on the Bus before dawn Saturday. They'll be marching in beautiful Napa Valley in the Vintage Reserve Band Festival. They are a small but wonderful group of kids. I just hope it doesn'...
This isn't about Social Security. It isn't about Medicare. It isn't about the Graying of America. It's about a torpedo that's coming towards us. It's silent, it's fully armed, and it's not on the radar. But it will be very soon. This is not a single family home. It's an Assisted Care Facil...
In my post, Don't count on it, I explained that I thought the recent announcement of a $16 Billion Countrywide loan modification plan was a bunch of Hooey. Feedback I got some feedback. Some good and some not so good. It's the not so good that I would like to address right now. The overwhel...