Second Home Sales Decline in 2008
In 2008, second home sales, among new and existing home sales, declined by more than 30 percent from 2007, announced the National Association of Realtors today.
In many cases, second home buyers who bought vacation or investment properties paid cash. NAR stated that 4 in 10 investment property buyers…
Mortgage Industry Group Calls For Regulation
Perhaps they saw the writing on the wall. The Mortgage Bankers Association is calling for federal regulation of the mortgage lending industry. And not only do they want it, they're offering bullet points for what Congress should include in the legislation!
Is it a conflict of interest? MBA is…
Ilyce Glink's Makeover Your Money Event
For our friends in the Atlanta area, Ilyce is hosting a special half-day event, "Makeover Your Money"
Buy tickets early for less than $10! Or get the special lunch package with a box lunch, an additional afternoon session, and an autographed copy of one of Ilyce's books.
Check out…
Mortgage Lending Reform Testimony
Sandra F. Braunstein, Director, Division of Consumer and Community Affairs, Federal Reserve Mortgage lending reform Before the Subcommittee on Financial Institutions and Consumer Credit, Committee on Financial Services, U.S House of Representatives, Washington, D.C. March 11, 2009
Chairman Gutierrez…
Real Estate Investment Trusts Lose Value
The National Association of Real Estate Investment Trusts recently released some new data about REITs.
A real estate investment trust, or REIT, is a way for investors to diversify into real estate without becoming a landlord. REITs own residential and/or commercial real estate and some specialize in…
The Ilyce Glink Show March 1, 2009
It's been another rough week in the financial world:
GDP shank 6.2 percent in 4Q 2009. It's the biggest drop in 25 years.
New claims for unemployment rose to 667,000, the most in 27 years. Continuing unemployment claims rose to 5.1 million (topping the 1967 record). A year ago, continuing unemployment…
David Moffett, CEO of Freddie Mac, announced his resignation today.
Freddie Mac is one of the two government sponsored entities that buys mortgages from lenders. Lenders rely on Freddie Mac and Fannie Mae to buy these mortgages to get more money to make additional loans.
Moffett said he wants to get…
Financial Crisis Testimony From Secretary Geithner March 3, 2009
U.S. Treasury Secretary Tim Geithner Written Testimony -- As prepared for delivery House Ways and Means Committee Hearing March 3, 2009
Chairman Rangel, Ranking Member Camp, members of the Committee, thank you for providing me the opportunity to appear before you today to discuss the President's…
Homeowner Affordability And Stability Plan: Who Gets The Help?
There has been a lot of grumbling (particularly on CNBC this morning when Rick Santelli took a poll in the pit as to who would want to pay for someone's housing mistakes) about people getting helped who don't deserve it.
Yesterday, the White House released these three examples of who might be able to…
Today's Laugh: New Financial Terms
My mother sent this to me this morning. I don't know where it comes from, or who authored it. But, it's a sad (though funny) commentary on the current economic madness that surrounds us. If anyone knows the authorship, please let me know so we can give credit where credit is due.
New Financial Terms
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