The Four Investment Profiles
Today I was reading about the Four Investment Profiles – and I found it interesting when thinking about the current market. The four profiles are : 1) Investor Loves Opportunity Buys the right thing2) Collector Loves Ownership Buys Something3) Speculator Loves the Action Buys Anything4) Observer Loves Ideas Buys Nothing I think we’ve had a [...]
Mortgage Rates Rise
I get asked about rates a lot. The public’s perception is that; if the Feds are lowering rates then mortgage rates should be dropping also. Mortgage rates follow the TBill – not the inter bank offer rate – and the TBill is rising fueled by inflation worries. I really like Mark Dotzour’s explanation below: MORTGAGE [...]
Conforming Loan lLimits
The economic stimulus package passed and everyone is asking when the conforming loan limits will increase. Well, the latest answer is July 1. But remember, the Fannie Mae and Freddie Mac conforming loan limits of $729,750 are temporary measure available 7/1/08 – 12/31/08 while it appears the Federal Housing Administration loan limit is a permanent [...]
Economic Stimulus Package – Loans at $729K
Besides the $729K loan limit – there are some great incentives for businesses, from the IRS Newswire: 2008 Economic Stimulus Act Provides Tax Benefits to BusinessesWASHINGTON — In addition to providing stimulus payments to individuals, the Economic Stimulus Act of 2008 provides incentives to businesses. These incentives include a special 50-percent depreciation allowance for 2008 [...]
Mortgage Workout Relief
Here’s the info from the IRS website regarding Short Sale Workouts and the tax consequences: Mortgage Workouts, Now Tax-Free for Many Homeowners;Claim Relief on Newly-Revised IRS Form WASHINGTON — Homeowners whose mortgage debt was partly or entirely forgiven during 2007 may be able to claim special tax relief by filling out newly-revised Form 982 and [...]
Economic Stimulus Package – Loans at $729K
Subject: Economic Stimulus Package PassesDate: Thu, 07 Feb 2008 15:12:31 -0800 The bill finally passed, there was some concern it would fail becauseSenate Republicans were opposed to adding an extension of unemploymentinsurance, additional funds for low-income home heating assistanceprograms known as LIHEAP, an energy tax package and expanded incentivesfor small business investment as requested by [...]
More Credit Crunch – FYI
Banks Make it Tougher to Get a Loan http://www.bloomberg.com/apps/news?pid=20601087&sid=aBVR4W34oDrY&refer=home It got tougher for U.S. companies and consumers to get loans in the last three months, a survey released by the Federal Reserve on Monday shows. The survey, conducted in January, was available to Fed policymakers last week and helps explain its total 1.25 percentage point [...]
Credit Crunch
I was talking with a client this morning – it looks like I am going to be refinancing his investment property. The lender that he is currently with sent him a statement saying they will not extend his loan – it’s a 5/1 – because they no longer do investor loans! Additionally, I got a [...]
$422 Million – Where does it all go?
Countrywide posts $422M quarterly lossDallas Business Journal – by Chad Eric Watt Staff Writer Countrywide Financial Corp. reported a loss in both its fourth-quarter and fiscal year because of further problems in the mortgage industry, the company said Tuesday. Calabasas, Calif.-based Countrywide (NYSE: CFC) reported a fourth-quarter loss of $422 million, or 79 cents per [...]