100% is not dead yet!!

Don’t be fooled by the media. 100% financing is not dead, but is now only available in select areas. If you live in a rural area and looking to purchase a home, more then likely you are eligible for a 100% mortgage.

In my mind this is the best product on the market. Great rates and no mortgage insurance!!

Contact us if you would like to learn more…

NO thank YOU Mr. Bailout

Looks like the bailout is back to square one. The Fed will not get a blank check to purchase all those pesky toxic assets.

I’m sure there will be more attempts to obtain the money from the Congress.

What will happen??

A great CEO

Warning: This has nothing to do with Real Estate

I always read articles about how CEO pay is astronomically high and how they make off with all the money, at the same time all of the other people suffer.

In this article, that is not the case. Well these poor employees get their paycheck cut in half, the other half is being deferred until the end of the year, due to turmoil at the parent company.

The CEO made a personal choice to work with out pay! SOURCE

Now, that is a great leader!!

The biggest bank failure EVER in the history of the US!!

Can you believe this?? Wow, one of the major banks in America, Washington Mutual, has now gone belly up. Along with this, a huge financial bailout is on the table, we're facing historical times in America.

The government is on the verge of passing a $700 billion dollar bill to help aide the financial institutions of America. Meanwhile unemployment is creeping up, our 401(k)s' are taking a noose dive and home values are in a freefall. Not good!!

What happens if we don’t pass the bill? I have read all of these things…

x.) No more payroll for a lot of companies
x.) More banks will fail
x.) No more mortgages
x.) No more credit cards


to be continued…..

Your equity is going down...

Home values across the nation are down again. This time it’s a new record!! The median national value fell by 9.5%

The pace of existing home sales decreased 2.2 percent to an annual pace of 4.91
million units while the median national home price declined a record 9.5 percent
to $203,100, the National Association of Realtors said on Wednesday. SOURCE

Dear Main Street,

This is great summary of what is happening on Wall Street and why mainstreet is now footing the bill for these bailouts.

Dear Main Street,

Are you trying to make sense of what's happening here on
Wall Street?

Don't worry -- you aren't alone. A lot of people even here are
trying to figure that out. It isn't that complicated, but Wall Street is so full
of mumbo jumbo that it's easy to get confused -- or bored.

Say "collateralized mortgage obligation" a dozen times and see if you can stay awake

Link to the story

The $700 billion dollar bailout??

I’m reading more updates every hour, so I will keep you posted as I know more, but here is what I have learned so far.

This bailout is for the government, or actually the FED, to have an open checkbook to purchase toxic assets. Purchasing these toxic assets will help the credit market bounce back and hopefully restores confidence in our markets. There is no data on how much they will pay for these assets.
This is all about bailouts for major companies, not common people of the United States. I’m strongly opposed to this bill unless they clarify what they are going to do with the money. I'm not for bailing Wall Street, but I'm for helping out mainstreet!!!