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Posts Tagged ‘GSE’

FHA Cuts Mortgage Insurance… this is not good news.

Yeah, cutting mortgage insurance is the last thing we need.

mortgage insuranceSo the mortgage insurance rates got cut again. Of course nobody seems to want to talk about what the money is for, or why the rates were raised a few years back. Why cover all those pesky facts that we seem to refuse to want to learn a lesson from. It’s just nuts. In todays show we are going to dissect this move and explain why on EVERY – SINGLE – LEVEL it is stupid and hurts more than it helps. Yeah, not even good for the folks who will want to do an FHA loan as a result. I cannot imagine how anyone who lived through the last downturn could possibly think that this move makes any sense. Particularly when this just increases the demand for homes in a market where there is already not enough supply to satisfy the number of buyers that are already out there. Join me in todays show for all the annoying details.

Please help the show by filling out the audience demographic survey by clicking the button at the top of the page titled “Take the survey to support the show”. Follow the prompts and this will automatically enter you for a chance to win a $50 Amazon Gift card!

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Worrisome housing trends

Plus we chat about fake statistics

financial-crisis-544944_960_720A Southern California newspaper has shared what they think are 6 trends that are making housing worrisome.

We will run down the list, get their take on the situation then slather on a little rebelbroker magic.

There is also an interesting article from housingwire discussing the possible end of the California housing boom. Have they got it right? We will discuss it and see if their conclusions make any sense.

The show is now available on iHeartRadio (http://www.iheart.com/show/263-Real-Estate-Realities-With/)! If you you are a fan of iHeart – make sure to check it out! Just do a search on “real estate realities” and the show should come right up!

Please help the show by filling out the audience demographic survey (http://survey.libsyn.com/rebelbroker).

Interested in getting free content, advanced notice of upcoming events and content? Then simply text the word ‘rebelbroker’ to 44222. When prompted, text your email address and you are in!

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Bye, Bye 30 Year Fixed Rate Loans!

Will fixed rate loans become extinct?

Seeking Alpha published an op ed last week about the 30 year fixed rate mortgage. It was a very interesting read and brought up the idea that we may see the end of the fixed rate mortgage. That’s right, within the next few years, you may have no option but to get a variable rate mortgage. Most people are not aware that the 30 year fixed rate mortgage is a uniquely American creation. Is was created in the late 1930s by the government and is linked directly to Fannie Mae and Freddie Mac.

With the future of the government sponsored entities in question, we must also consider the very real idea that the 30 year fixed rate mortgage will also go away.

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In this weeks poll we ask, “Would you like The RebelBroker to do one show a week that does not discuss real estate?” please check out the show notes to participate.

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How about no down loans? Yeah, they are back.

PLUS! New ways to get the show!

Just when you thought things could  not get any more nuts, they did. We have talked about the 3% down loans. We have talked about the 1% down loans. But hey, why stop there! Now we can talk about the NO DOWN loans! It’s not like those kinds of lending policies caused us any trouble in the last decade or so! When you take into consideration all the things we have learned over the last few months, it becomes very clear that we should all be extremely concerned about this trend.

Don’t forget, a few weeks back we covered the story about how credit scores were being modified. You can check out that show here, where we discuss how these new ways of coming up with a credit score is like basing them on things that don’t have anything to do with actual credit. But even then, these lenders are saying that if buyers don’t have the needed credit score, they will look at “alternative credit information”. Well that just sounds dandy! Remember, once these loans get created, they WILL get sold off to the government and YOU will be on the hook for any losses through your tax dollars.

In other news, I have added two new ways to get access to the show. For those that have a deep and abiding love for YouTube, you can now find each show being published there. Prefer Tumblr? Great! You can now find all the shows posted there!

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