Feds To Buydown Mortgage Rates Dec 4th Mortgage and Financial Market Update.wmv
Posted on July 9th, 2010 by admin
Hello Friends,
Have you heard the news? It seems too good to be true and most likely it is. Believe me, having our economy jump started by creating a home purchase flurry sounds wonderful on paper and I would love to see it happen if it could work, but my concerns are laid out in the video. The biggest concern I see in the preliminary talk on this just accounts for new home purchases, not refinances. If this is true, the same critical problem that is occurring with FHA insured loans which had to put safeguards in place to stop this problem is a practice called “Buy and Dump”.
In some markets and more as this idea spreads, it is where a person would be living in a neighborhood and their neighbor’s home went into foreclosure on top of the decline they have already seen in their home value and they could get the same cookie cutter house for a 1/3 or more of what they owe or their value. Then they get qualified to buy the neighbors home stating they are going to keep the current as an investment and than once the deal closes, they stop making payments on their last home.
Add to the equation they can do this AND get a rate at 4.5%, this unethical phenomenon would continue at a scary pace. So as good as it sounds, there is a lot of safeguards to be worked out. Also, another concern is that people will get into homes they cannot afford because of the low rates and end up buying too big of home the cannot afford and when the economy does turn around and the rates are back at an average level, they will be in a home they could have not afforded without the rate drop.
So a lot to digest with this concept, stay tuned….
Please watch the video for more details of the financial and mortgage market happenings today.
Be Blessed!
Duration : 0:4:56
Digging Yourself Out of The Hole Is a Lot Easier Than You Think Whether you have NO Credit, LOW Credit, or BAD Credit Don’t let it stop you from taking charge and reclaiming your life. Like I said, this may be the most important information you’ll read this year, because I’m going to show you exactly how to
May 14 (Bloomberg) — Nivard Cabraal, Sri Lanka’s central bank governor, talks with Bloomberg’s Susan Li and Paul Gordon about monetary policy and the nation’s economy.
Now may be the time for you to jump off the sidelines, and refinance your mortgage as 
http://www.
www.JeffDrew.StarMortgage.com
http://freeloansfast.wordpress.com/2010/02/27/reputable-payday-cash-advance-lenders-how-to-easily-obtain-the-best-payday-loan-rates/
http://www.bruceoliver.com, need mortgage help, loan officer help, loan application, best 
The Indiana Department of Education said Indiana’s high school graduation rate is slightly higher than the national average, but not high enough. In response, State School Superintendent Tony Bennett entered every public high school in the state into a competition Monday, even though many are unaware of it.
Download Link