Rob Vaughan's (robsavestheoc) Blog

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Mortgage and Lending - American First Mortgage Company
RECENT BLOG POSTS
When the FDIC seized mortgage giant IndyMac it was one of the biggest bank failures ever. Now the troubled lender just may lead us out of the housing mess. NEW YORK (Money) -- The battered economy is in desperate need of a housing fix, and one failed bank just may have the answer. On Thursday FDI...
11/12/2008
Slash the costs of your home addition When your family outgrows your house - or you just can't live without a master bath or family room anymore - your options are clear: trade up or add on. But these days, given the difficulty of finding qualified buyers and nabbing a decent price, adding on has...
11/11/2008
Countrywide Financial has agreed to the largest program ever to modify home loans, as part of a settlement with officials in 11 states, just days after the federal government adopted a giant financial rescue package without any relief for distressed homeowners.   Countrywide, the nation's largest...
10/06/2008
After failing to pass a bill geared at kick starting the financial system in the United States on Monday, market participants are looking for help from central bankers in the form of rate cuts and a return of the failed bill as early as Thursday. According to traders, an early morning rally in st...
09/30/2008
NEW YORK (CNNMoney.com) -- Hope Now has helped more than 2 million at-risk borrowers stay in their homes during the past 13 months, according to numbers released by the coalition on Wednesday. The alliance of mortgage servicers, counselors, and investors assembled to combat foreclosures fixed mor...
08/27/2008
NEW YORK (CNNMoney.com) -- Mold, maggots and piles of festering trash - no wonder home prices are in freefall. It's not just the subprime mortgage crisis that's to blame for plummeting home prices. A flood of squalid properties on the market is helping to exaggerate the post-bubble price declines...
08/22/2008
A Loan Modification is a permanent change in one or more of the terms of a mortgagor's loan, allows the loan to be reinstated, and results in a payment the mortgagor can afford. Question 1: In utilizing the Loan Modification option to bring an asset current, can the mortgagee include all fees and...
08/21/2008
DataQuick reported that last month's sales jumped to 2,799 houses, condos and new residences, topping the July 2007 number by 408 units. The last time O.C. home sales exceeded the year-ago pace was September 2005. The median price was $461,000 - down 28 percent in a year and the lowest median sin...
08/19/2008
NEW YORK (CNNMoney.com) -- Washington policy makers and housing industry insiders hope a new tax credit for first-time home buyers will get the moribund housing market moving again. But most analysts agree that the program is more of a band-aid than a cure-all for the battered real estate market....
08/18/2008
The housing rescue bill, signed into law July 30, 2008, is full of goodies and not-so-goodies for homeowners and those who aspire to be homeowners. Here are some highlights. First-time homeowner tax creditThe law will extend a tax credit of up to $7,500 to first-time homebuyers. A first-time home...
08/16/2008
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