Following the blow-up of the secondary mortgage market, most wall street firms that had been buying mortgages withdrew from that activity.  That left freddie mac and fannie mae to handle more than 80% of all mortgages during the first quarter of 2008.  Congress had such a backstop in mind when they created these two government-sponsored […]

We are currently experiencing the worst real estate recession this country has seen in decades. Property prices in some areas have fallen to the point where many people are paying more on a mortgage than their property is actually worth!
In fact housing prices dropped at the fastest rate ever in February indicating that the housing […]

What does it mean to you?
The Federal Reserve cut interest rates today for the seventh straight time since September of last year. Many experts believe that the Fed is done cutting interest rates and will begin a new watch-and-wait policy. This new policy is due – in part – to the fact that the first […]