Smoke Screening Illegal or Legal

Smoke Screening Illegal or Legal

What is really going on with the truth of our Country who really represents the regular people? As stated in the constitution we are all created equal! Is this truth or a smoke screen? My definition of ALL is more than one! Not separate classifications. Follow me now because this gets rather tricky and I need for you to follow every word I’m attempting to get over to you as being of equality people. We are equal however the law does not apply to a certain classification of people; I am in reference to those whose bank accounts supersede the average digits. As we all know we have suffered one of the biggest recession periods known to mankind. Not only has it crippled our economy but it has also crippled dreams, hopes and goals……to the regular people. Yes the regular people! What is the definition of Regular People? The closest none Webster term I can fine is “People not born into wealth” it already sounds like a separate class to me. So back to equality, yes we are all created equal in the image of God but yet the powerful and so call law makers has divided the classification into Rich, Middle Class and Poor, there Goes equality out the door.

With this said; this blog is intended for the Regular People. The collapse of today’s financial market did not happened because of Regular People, it happened do to a certain classification of people decided to continue to find ways to deceive those without! To bait and switch the Regular People into their foolish and greedy ways. Like my mother always say it was going on back in the days when Jesus walked this earth. The United States has the highest unemployment rate, health care is a joke, the homeless rate is growing by the multitudes and the rest of the American pie is being gobbled up by a certain classification.

Do we call this the American dream or a Smoke Screen? After reading a piece today in the AP (Associated Press) I cannot believe Tim Geithner and the rest of the political entourage can honestly say they are really concern on what’s going on in these trouble times. We’ve heard most of this fall out has happened do to the subprime market (Regular People Market) meaning people who purchased things with private monies(100% Mortgage Programs) my question is? did Regular people create this candy shop? I believe it was the banks and government bullies who created these problems. Now don’t get me wrong “Yes I firmly believe there were some who bit off more they can chew” but you cannot blame them for wanting a piece of the American dream. When you dangle candy in front of a little kid who loves sweets and this child has no resources to purchase this candy it’s called an opportunity for this child with no money to grab it and run. The subprime market is not even a drop in the bucket on what really caused the current financial failure. You have tanked 401ks, junk bonds which were junk from Jump Street, Tricky worthless bonds, commercial real estate failures, oversea tensions mounting and the list keeps going and going and going. This is the root cause of our major calamity I dare a challenge on this issue.

But know this greed has no heart, brain or cautious; it bears no difference between right and wrong. It’s like the energizer bunny; it keeps going and going and going. Now the Euro as fallen like a rock, the GDP is at a standstill, the unemployment rate is still high, no job creations, oil is creeping back up, in fact a barrel of oil is almost at the $85.00 a barrel; so watch out for rising inflation its right around the corner and yet the dollar is getting stronger! OK wake me up when you’ve had enough. Here’s the real capper, since there’s been positive movement here lately in the markets, the hedge funders are creeping out the wood works again like roaches oh it gets better. Now you have annalist out there saying it’s a great time to jump back in the markets, wow let me get bit by that same pit bull for the 100^th time.

Listen Regular people, this is not an equal right opportunity here; the same thing is about to happened again so quit chasing the American dream, chase your own dreams be smart with your monies. Starts doing your research on these markets become more resourceful with what you have. This government rather it be democratic, Independent, Republican, Tea party or whatever else that is out there do not have our special interest. Don’t take it from me, but the bait and switch is on the horizon again and it’s due time to take control and start doing what is best for you and your families.

Remember there is 9 Trillion dollars which is unaccounted for; have the Regular People horded these monies?

Remember the law does not apply to greed! How can Tim Geithner be concern about these troubling times, when it’s known fact he was the President of the Federal Reserve and failed to do nothing but to vote for the Tarp Fund…Oh wait a minute Regular People did you not know that the federal reserve is not a government entity...It’s Private Rich People Money, oh yes the plots thickens every day. As Spike Lee would say Wake UP!

http://www.globalresearch.ca/index.php?context=va&aid=10489

http://www.google.com/hostednews/ap/article/ALeqM5i2Rvbv1J7z6cHV_l3BDb3qGpRUewD9EQCMB83

Rhetorical Reminder

Will you be ready financially for the next economic roll coaster ride again. When deciding how to invest your monies it is important do your research, make sure you ask plenty of questions; there’s a saying there is no such thing as a dumb question. In real estate there are risks to consider as well; you can say it’s almost like playing the stock markets. What do I mean by this? Currently most homes have declined in value like the Nasdaq, NYSE, 401k’s and other markets. Most investors who lost in the market were armatures and simply investing because some investor stated he or she made thousands. Well the same with the housing market ,some purchased homes without a plan and purchased simply because there were plenty of 100% financing and options arms and trying to keep up with the Jones’s. Some did not understand what they were getting into. This short editorial is not to condemn or to make one feel horrible, it’s intention is to educate. There are a lot of variables when it comes to purchasing real estate and only a true real estate and mortgage professional will know. Remember do not bite off to much you can chew. When considering to purchase a home take baby steps. If you are a first time home buyer start of small, get the feeling on what it takes to maintain a home. Get use to making a house note. Let that small affordable home gain equity, know when to sell and move closer to your ultimate goal. A great example is Warren Buffet, he buys in small, he knows when to sell and knows if it sounds to good to be true he leaves that stock alone.

Is It The Right Time

The most common question asked in these challenging times; is it the right time to purchase real estate? Have we seen the bottom of real property pricing? I would like to say the answer to that question is yes! But when it comes straight to the point, are you the consumer in a position to take advantage of some of the wonderful opportunities which are out there. After the collapse of many financial institutions, fraudulent lending practices and stricter guide lines, it can be rather difficult to obtain a mortgage a loan even with prefect credit scenarios. Investing your hard earned money into real estate or the stock markets requires common sense and moral comprehension.

In all truth no one can be absolutely sure on when it's the right or wrong time to invest. Investing is a gamble no matter if its real property or stocks, most answers come from market trends. Your positioning determines everything, no matter if you are passive or an aggressive investor. If you want to purchase a home ask yourself when entertaining the idea; will this home be for primary purposes or as an investment, these two questions are important when making a loan decision. Coming from my professional point of view, real estate is still the safest investment you can invest in. However it comes with many risks, so this is where your research comes into play.

As mentioned before there are great opportunities out there, we are witnessing some of the lowest rates we have ever seen. Rates are hovering around the 4.875% and 5% APR however this will change, when? I cannot say but these rates will change and most likely to be in the high 6 or 7% when changes do occur. http://www.bankrate.com/

The first time homebuyers tax credit is still in effect, but this credit will end in April of this year unless the government chooses to extend it for a third time. http://www.irs.gov/newsroom/article/0,,id=215791,00.html

Your credit! Most lending institutions will not lend with a credit score under 700 however as of March of 2009 FHA credit score requirements are 620.

Keep in mind the FHA process can be rather lengthy, so be prepared for a slow closing if you choose this option but if you have imperfect credit this is the best way to go.

The down payment requirements for an FHA loan is 3.5% so this is really helpful for those who are tight on closing cost and other charges if any.

http://mortgagedfuture.com/fha-increases-minimum-credit-score-requirement/

To sum up the question IS IT A GOOD TIME TO PURCHASE? The answer is simple; if you are in a great position then the answer is Yes.

Keep in mind to do your research when choosing your mortgage or real estate broker professional it's essential to have a professional who will get the job done with great ethics and knowledge of the real estate market current market trend.

In the end you the consumer will be paying the monthly mortgage payment, so it pays to do your research in order for you to be satisfied.

If you are in need of more advice or have any questions please do not hesitate to email me, I will be happy to answer any concerns you may have.

michael.mosely.hillsiderealty@gmail.com

CLOSE YOUR TRANSACTIONS WITH EASE

Happy Holidays to All,

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I work closely with a firm which will provide reality answers to realistic scenarios.  If you are having challenging times getting transactions funded, this maybe your answer, without shopping each deal one at a time. This is an opportunity for you to submit your commercial loans with ease; while allowing you to maximize your revenue potential.  We are able to offer over 8,100 different loan program options with the use of SNAP our proprietary software to process your loans.  These multiple options allow you to submit a loan once, with one lender, which eliminates the need to shop multiple lenders.  This option provides simplicity to the submittal process and provides more choices for you and your clients.

With this automated system, we can get you and your clients’ conditional approval or an underwriting decision with in 8 business hours of submitting your loan package.  My goal is to make things simpler for the 2009 for you and your clients.  For more information please contact me via email mmcommercialdeals@gmail.com or michael.mosely@alltrustrealestate.com  let’s make next year a successful one, with this system I will guarantee you and your clients will be satisfied with my services. 

From my desk to yours I am wishing all HAPPY AND SAFE HOLIDAYS….

What's behind curtain no.1

I find it rather disturbing when our top executives, politicians and other top officials try to sugar coat critical issues. With that said, I ran across an article which explains the so called modification program, what’s very interesting is; when this program was initiated, it was intended to help those struggling with their current over priced mortgages.  The program was designed to prevent foreclosures and lower rates.  “Well, here we have the old bait and switch again". Of course it’s nothing new since the announcement of this program, but I would like to know who is really calling the shots, is it the banks, or the government? How can the banks say we will do what want, when the government is the author of the program?

The last thing that lenders want to do is forgive debt. Last month, executives from the four biggest mortgage servicers testified before the House Financial Services Committee, and all of them made it clear that they would exhaust all loan-workout options before considering debt forgiveness, which in banker lingo is called "principal reduction."

An executive for Bank of America told the committee that his bank would consider debt forgiveness for people who already are in the process of foreclosure. A Wells Fargo executive, Mary Coffin, said, "We have found that the same affordability can be reached through a 2 (percent) to 3 percent interest rate reduction and term extension, as can be reached through a 25 (percent) to 30 percent principal reduction."

In other words, Wells would rather reduce the interest rate for five years, and extend a 30-year loan into a 40-year loan, rather than forgive some of the debt.

If a lender can be persuaded to participate in Hope for Homeowners, here's how it would work: The lender would forgive all the debt over 90 percent of the home's currently appraised value, and allow the homeowner to refinance with an FHA-insured mortgage.

For example, let's say someone owes $125,000 on a house that has lost value and is now worth $100,000. The owner can't afford the higher payments because of a rate adjustment. The lender would forgive $35,000 of the debt, allowing the owner to refinance with another lender for $90,000. That loan would be insured by the FHA, and would have an upfront FHA insurance premium of about $2,700. In most cases, that $2,700 would come out of the hide of the old lender, on top of the $35,000 in debt forgiveness. Faced with these figures, some lenders might figure that it might be cheaper to foreclose.

Still Need Help.....

Will this new bail out program help you the average citizen? Or was it design to continue bailing out the same banks and investors etc.etc.etc.  I was reading a piece about a gaping hole which remains a mystery in the bail out. Under the new bail out bill; it failed to implement any type of down payment assistant (DPA) for the first time home buyer or others who may want to purchase a home.  You would think if our government was genuinely concerned about all citizens, they would have come up with revised programs for qualified buyers.  In my opinion this bail out wasn’t designed for consumers, more or less it was about saving their buddies bank accounts, hedge funds, and certain political advancements. Many have no clue on the importance of real estate, it’s very vital to our economy.  No jobs, no real estate movement,  Inflation on the rise no real estate movement; and with all of the down payment assistant programs getting tossed like yesterdays trash, I’m afraid we are going to still witness a weak real estate market if incentives and/or assistance programs aren’t implemented back into the consumers main stream.  To clarify assistance programs so many won’t misinterpret this classification, these were programs designed by private companies to help with the purchase of a home.

 Before these programs disappeared Oct 1^st of this year, programs such as the (GAP) Grant America Program, Acorn and Nehemiah  just to name a few;  were created to assist consumers with assistance with their down payment or closing cost if the consumer was short of funds; the granted amount was 3% of the loan amount.  These programs were not loans but rather gift funds with limited stipulations which were offered by private entities.  As we look closer, interest rates are rising rather quickly, as of today for a 30 year fix rate you are looking at 6.5% vs. a week ago rates were hovering around the 5.98% range.  Suggesting a hand out is not the language I’m trying to use, I’m merely suggesting bringing back the programs which worked well with FHA, so our first time home buyers and others can purchase homes to soften our inventory overload.

 Having the amount of homes just sitting there, is equivalent to having an aircraft grounded. Without that aircraft flying, carriers will not make money; it’s useless to the fleet if they can not get this craft back into active service. Let’s see what happens in the next couple of weeks, I wonder how long will it take for these politicians to realize something needs to be done about this and how urgently they need to address this sinking ship.   

 http://www.mortgagemag.com/news/2008/1001/

Econmic Crises Opinion

Many are going back and forth with the finger pointing blame game; regarding our economical and mortgage break down.  I find it ironic when a positive issue surfaces everyone is fighting to be the author, yet when a negative situation arises no one wants  admit to blame.  I entered mortgage industry October 18, 2000.  It was the happiest day of my life, having the privilege of helping others with their dreams and goals had me on top of the world. What I later came to know was some agents were not too concerned about quality but more interested in quantity.  I have never witnessed greed like this in my life.  My broker at the time did not care about how you got a deal done; points were the limit - CHARGE IT UP!  I made a decision to remain with this particular broker but not for those reasons.  I chose to stay to learn more about the business and to gain hands-on experience on real estate and language.  Once I accomplished that, I left.  I worked for other brokers who shared that same disturbing concept; it’s not about quality but quantity. Finally, I found a broker who had the same ethics as I; treat all customers with integrity and respect.  Extend that to all and referrals will soon come, and they did.  I have been with this broker for the last 3 years and proud to say we have never had a loan to come back and bite us in the end.

 We are in theses crises because of some real estate brokers forgot the words FUDICARY DUTIES! Some real estate sales agents and mortgage consultants forgot the words, DUE DILLIGANCE. We had these so call professionals who entered the market with the pure intent to gouge clients in points to gain higher commissions.  They knowingly placed their clients in unaffordable mortgages and placing them  in danger of loosing their homes from day one.  Some mortgage companies had their own chop shops altering documents so loans could close, “just to meet quotas”.  I am appalled to hear and see how this has shifted over to the consumer’s fault; of course there is a small percentile, who knew they could not afford a mortgage but assumed a mortgage anyway. After working in customer service for over 25 years, I’ve literally seen customer service practices vanish and highway robbery took over like wild fire.

 Being in this business we all have a moral obligation to learn from this mess; from our government, financial advisors to crooked mortgage consultants and sales persons, brokers, banks and Wall Street.  These are the main players who created these deceptive practices.  Most 100% and option arm products which were offered should have been on A paper only, not subprime. If you are disagreeing with this statement then please comment on why are AIG and Meryl Lynch and others are in dire predicaments including wall street? These companies and institutions have been around for decades.  This all came with the “changes of the guards”.  Who are the guards you ask? Leave me your email address and I will tell you.  The bottom line is we all need to be our brother’s keeper.  We all need to keep in mind how we would we feel if it were our family members being cheated and/or robbed out of their life savings.  Of course this only applies to the ones who have morals.

 http://www.cbsnews.com/video/watch/?id=4511476n

http://www.nationalmortgagenews.com/washington/