In the almost 400 transactions I have brokered since first being licensed in the 1990s, anytime there was a problem with the mortgage and the buyer was asked how they chose their lender, I cannot think of one instance where they did not say some variation on the theme that the bank was chosen for quoting [...]
Posts Tagged ‘Mortgages’
Choosing the Lender: Interest isn’t the Only Thing
Posted in Mortgages, tagged Mortgages on January 27, 2011 | Leave a Comment »
The Foreclosure Fight on Staten Island
Posted in Foreclosures, Mortgages, tagged Foreclosures, Mortgages on June 23, 2008 | 1 Comment »
The Times has a fairly balanced article on how people are adapting to the down market in NY City’s least-populated and most suburban borough. The upshot of the story is that not everyone can seek relief through a short sale. John and Dorothy Miele are an example. Two years ago, they wanted to refinance their home, [...]
Chris Dodd’s Sweetheart Mortgages
Posted in government, Mortgages, tagged Christ Dodd, Countrywide, Mortgages, Politics on June 19, 2008 | 2 Comments »
Connecticut Senator Chris Dodd is addressing criticism that he knowingly accepted favorable terms on his two home mortgages. None of the talking heads revealed the terms, but the NY Times published the following: Mr. Dodd said that he was a longtime customer of Countrywide and refinanced the mortgages on his homes in 2003 after shopping [...]
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Posted in Mortgages, tagged mortgage crisis, Mortgages on June 11, 2008 | Leave a Comment »
…mortgage companies have “imploded” since late 2006. The resulting credit crunch has made the pool of buyers even smaller. This, coupled with the rising inventory of distress sales, short sales and bank owned foreclosures has suppressed prices enormously.
Why Did the FHA Lose $4.6 Billion?
Posted in Mortgages, tagged FHA, Mortgages on June 9, 2008 | Leave a Comment »
In light of my earlier post framing the FHA loan program as part of the solution to an industry recovery, the NY Times is reporting that the program has lost $4.6 billion. The article does not say if it was in the past 12 months or in 2007. It doesn’t matter. The problem is not the [...]
New Deal to Rescue 2008
Posted in Mortgages, tagged FHA, mortgage crisis, Mortgages, New Deal on June 9, 2008 | 1 Comment »
This is a commentary that I submitted to the Journal News recently that they have not (yet) published. ___________________________________________________________________________________________ With the problems facing the real estate and mortgage industries, I look to the Oval Office to be the catalyst in the recovery of the nation going forward. I am not referring to President Bush, nor [...]
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J. Philip Faranda Broker-Owner (914) 723-8900
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