Archive for October, 2009

Peter Schiff has been almost prophetic in his predictions on the economy but does he have a chance to take Senator Dodd’s Senate seat in Connecticut?? He will be on Face the State this Sunday at 11:00 am to talk about many issues including Senator Chris Dood.? The commentary involves a discussion about fellow Republican opponents, his father, some of the decision he would make if here were elected senator and a warning about the current economy.

The guest reporters on Face the State will be Rick Green of the Hartford Courant and Brian Lockhart of the Stamford Advocate.? You can check out a preview of the show at this video link.? For those of us who have followed Mr. Schiff through the years we know he can be brutally honest and make hosts feel a little bit uncomfortable so it will be interesting to see how this conversation goes.

For anyone interested in getting the word out about Mr. Schiff please go to SchiffforSenate.com and talk your friends and family; especially if they live in Connecticut.? Having this man in a Senate seat will go a long way to helping Washington understand exactly what is going on with our economy!

Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.

Current News

Author: Alan Lake

The unemployment benefits extension is dragging along in Washington as each side expresses their viewpoints on the extension.? We have recently found out there there will be ANOTHER cloture vote on Monday to determine the exact language of the unemployment benefits bill.? There is a possibility that there could be a Senate vote at 5:00 pm.

The staff of Subprime Blogger and some close friends have talked about this hot topic and we would like your opinion.? Will the extension of unemployment benefits cause job seekers to be lazy?? I think we all know someone who is milking the system for all it is worth and if we see an extension they could continue to do it for up to 20 more weeks.? With that being said we know there are many of you out there who have diligently sought employment but have found nothing.? Here are some of your comments:

• I hope it sails through. We have 4 very young kids and these times are extremely hard. I exhausted my benefits last month as well and it is quite scary. I am ready to sell my computer so I can keep my 12 year old truck a month longer so my family will have a vehicle and I can continue my journey seeking employment since my lay off last November.?? -anonymous
• I have been without benefits since the 2nd week of August. My kids are suffering. I am a divorced mom with 3 children. I have had to beg for help from every church and actually knock on doors of strangers for money. -Jennifer
• Americans MUST recognize that it is a very sad day indeed, when those in need of an unemployment benefits extension look to divine intervention for deliverance, rather than the common sense and decency of the elected officials.? -Orville
• It?s our own fault! We sat back when times were good and didn?t make a noise as our jobs were shipped across borders and overseas,while our elected leaders took turns stealing our money, too fat and happy to care. -SS07
• Laid off Jan 09. I have sent 5 resumes out everyday since then. NOTHING. My benefits ran out this week and rent, electricity and god forbid I want to eat. I say revolt. There are more of us then them.? -April
• While looking for a job with no luck, feeling like the only hope I have is to ? with any luck, hope for an extension. I?ve already moved in with family, but my bills still need to be paid, and in order to do so. -Jaime

As you can see there are many people in favor of the extension but is it possible that Tony hit the nail on the head with this comment?

• I am on unemployment. I have NEVER heard this much bitching and whining ever. We need to become masters of our own universe. Dont complain about the government, we voted for them, so we own the problem. You all have computers and the internet, you arent too indigent yet. Get Hungry, get motivated.

Feel free to get the conversation started as there will be no “new” news on this topic until at least Sunday.? Hopefully by the end of the weekend we can have a good conversation going about the potential of extending unemployment benefits.

Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.

Current News

Author: Jesse Wojdylo

Refinance home loan rates remain extremely low with a lot of this being due to the Federal Reserve Bank.? The Fed has purchased mortgage backed securities and US Treasuries since the beginning of March and this has greatly aided the drop in mortgage interest rates.? If things continue the way they have for the first three quarters of the year, 2009 will show the lowest average mortgage rates in history.

The Federal Reserve Bank is going to stop their purchase program of US Treasuries by the end of October which should affect mortgage rates.? The logical explanation for what will happen is that treasury yields will increase which would cause mortgage rates to move higher.? There is a strong possibility of this but we will see what happens.

With the conclusion of the Federal Reserve Bank buying US Treasuries we will see if any other programs are created to keep mortgage rates low.? With the Fed still buying mortgage backed securities it is unlikely that we will see mortgage rates move up drastically.? There is a great chance that rates will move up but probably to the 5.5% to 6% range.

If you have been thinking about refinancing or buying your first home now is one of the best times in history.? With mortgage rates at low levels there is no reason you should let this opportunity pass you up.? There are many lenders out there that are more than willing to help you refinance at low rates so make sure to contact them and see what they can offer.

It will be very interesting to see how much longer the Federal Reserve Bank can keep mortgage interest rates low.? It is likely that they will stay relatively low until March of 2010 but will we see a bounce at the beginning of November because treasury yields increase?? Only time will give us the answer but it will be sure to be an interesting ride.

Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.

Current News

Author: Jeremy North

The Obama Refinance Plan was created to help all home owners have the opportunity to refinance at the lowest mortgage rates possible.? Prior to March of 2009 it was very difficult to lock in to a low mortgage rate because lenders were being very strict with their money.? When President Obama released the Making Home Affordable Plan that changed things.

Part of the Making Home Affordable Plan was to give incentives to lenders to actually lend money to all borrowers.? This has worked as many mortgage lenders have extending the amount of borrowers they have qualified.? No one knows exactly what these incentives are but they have definitely worked to help home owners refinance at low rates.

Another important part of the refinance plan is keeping mortgage interest rates low.? The year of 2009 will go down as the year of the lowest mortgage rates in history.? There is a chance that the average 30 year fixed mortgage rate for the year could be below 5%.? Even if the average is not below 5% it is still going to be extremely close.

If you have been thinking about refinancing your current home mortgage now is one of the best times in history to get it done.? Even though mortgage rates are not at an all time low they are still extremely low when looking at history.? Many current home owners would do anything to be able to have a mortgage rate close to 5% so take advantage of this opportunity.

There are many mortgage lenders who are currently advertising mortgage rates well under 5%.? You will never know what mortgage rate you qualify for until you actually get out there and go through the home refinance process.? With so much competition out there there should be no reason that you cannot find a lender that will qualify you for a reasonable mortgage rate.

Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.

Current News

Author: Heather Best

Bad credit home loans are becoming more and more of a reality to many home buyers.? A few years ago most home buyers did not care greatly about their credit because you could get a home loan by having a heartbeat and a signature.? Things have totally changed after the credit crisis and to get a reasonable mortgage rate you must have a good credit score.

By repairing your credit score you will find that you can get a much lower mortgage rate.? Even though mortgage interest rates are currently being advertised under 5% it does not mean that you can get a mortgage rate that low.? For any bad credit borrowers out there who have been through the home purchase process you know this to be the case.

If you want to truly benefit from the currently low mortgage interest rates then it would be a great idea to increase your credit score as much as possible.? Over the last few years Americans have seen their credit scores drop because it is extremely hard to make ends meet financially.? The rising unemployment rate is also a big part of the problem with declining credit scores.

To improve your credit score you must first find out what your credit score is.? There are many websites online that will offer you this services.? Sometimes it is worth it to go ahead and pay the $15 to get an actual FICO score rather than doing the whole free credit report thing; it is totally up to you though.? Once you have your credit score make sure to write it down.

After writing down your credit score you need to sit down and create a way to get out of debt.? To improve your credit score it is a good idea to pay off some of your high interest credit cards that are very close to being maxed out.? This won’t help you get out of debt the quickest but it will definitely improve your credit score.? Do your research and take the necessary steps to help you increase your credit score so you can get a low mortgage interest rate.

Please make sure to return to Subprime Blogger for all your mortgage and financial news. To stay up to date on the current state of finances make sure to bookmark the current news category below.

Current News

Author: Tiffany Mann