The start of 2009. What’s going on?

A sampling of things in the midst. We are in a recession/Financial Meltdown. By a common rule of thumb, a recession occurs whenever the gross domestic product, the total output of goods and services, declines for two consecutive quarters. The GDP turned negative in the July-Sept. quarter of 2008 and falling at an even sharper [...]

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Early Modification is the word

For those thousands of homeowners out their facing tough financial times, here’s some good news. In the past you had to miss two or three payments before the mortgage company would talk to you about a loan modification. Now, Fannie Mae- Responsible for about 18,000 home loans, will allow borrowers facing tough financial times to [...]

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New Condominium Laws: What Condo Commando’s might not want you to know.

For those who currently live in or will move to a condominium (One of the roughly 25,000 units in the tri-county areas), this is for you. The Condominium Act (Chapter 718 F.S.) has been significantly amended for present and future residents. Like just about all written statutes, there are pockets of ambiguity and issues that [...]

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The government’s gift to homeowners

Wondering where is your bailout- why not? every other mega-billion dollar financial institution is getting their’s.   The U.S. Treasury is offering a  little present, just in time for the holidays. The federal government announced that it will pump some $600 billion into the mortgage market — purchasing up to $100 billion of Fannie Mae and [...]

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The credit noose is tightening

New rules and restrictions are coming. Zero down-no more….. Affected loans are: Mortgages for certain second home purchases. Short-term construction loans that convert to permanent mortgages. Cash-out refinances. Investment loan applications where the buyer already owns at least three other rental properties. Loans with anything less than full documentation of borrower income, credit and assets. [...]

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Credit Scoring

Credit Score- a mathematical model, can make you or brake you. It is a lenders table of measure and should be your main concern if you care about  your money. The score can determine the fees, interest rates and terms you will be offered, or not. Remember the following: 35% The Way You Pay Your [...]

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A Short on the Short

As you know, property tax, foreclosure and short sale are the dominant words for 2007/2008. I’ve covered these subjects in previous posts, however, short sales, now it seems, are running neck and neck with foreclosures these days. Many people did very well buying and selling real estate while home values rose year after year  and [...]

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Metal Roofs approved for 90 days only in S.Gables

Matal roofs in the city are approved only south of South Dixie Highway and only for 90 days, after which applications for such roofs would be suspended.   The commission approved the compromise measure as a way to gage the impact of the new law without moving forward with a citywide law. The concerns are that approving for [...]

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Property Tax Reform Is Here Or Is It?

Florida Legislature says it has reached agreement on property tax reform TALLAHASSEE, Fla. – June 11, 2007 – We have a deal. Senate President Ken Pruitt (R-Port St. Lucie) and House Speaker Marco Rubio (R-Miami) announced that they’ve reached an agreement to cut property taxes in Florida. It’s a complicated, two-step formula that would offer [...]

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Know someone this stupid?

There is a market for everyone.    

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