• 24Oct

    Difficulties For The McCain Campaign

     

    Why Not Vote Obama?

     

    Written By: Michael Fleishour

     

    Hello everyone, it is not a surprise that one of the major reasons McCain is having such a difficulty was because the choosing of his running mate and that’s just for starters.

     

    Currently over 47% of the Country (Country First) now view Palin negatively.  Where just this past September, our Country viewed her in a positively way or fashion if you will.  This is all based on a Wall Street Journal poll if you are wondering the accuracy of these FACTS.

     

    Could it be, that one out of many, many issues people are having is our hard earned tax dollars being spent on Palin’s 150,000 dollar wardrobe???  Are you kidding me!!!  Why is our tax money being spent on this???  Do any of you ask yourselves questions such as this and wonder how they will be in office?  This should never happen and this my friends in not only the beginning but this is exactly what is wrong with the world today!

     

    The Free, The Proud, the Opportunity….oh and let’s not forget our hard earned money being ratted away by Politicians.  I want to give a huge shout out to every politician and tell them “Thank you for making sure that I have social security for when I retire, I appreciate it and can’t thank you enough.”  Now let’s go spend some more of those hard working Americans tax dollars….Ruths Chris anyone.  Do you know that some of these politicians don’t even go into work……they just do what they want, when they want and did I mention, it’s our tax dollars at work here???  Ridiculous is all I have to say and the only people that can change things or do anything about this is “US”, the American people…..well the legal ones anyway….but that is a whole other issue that I won’t even try to get into right now.

     

    Now a lot of people now are saying they are no longer voting for McCain because of his running mate.  If you ask me, I love the guy and every American should….the legal ones that is.  He is a huuuuge American Hero and I more then totally respect that, but this shouldn’t be the main reason for him running for office as a “Maverick”.  However, let’s be real for a minute.  Ask yourself this question – How long has McCain been in Washington…….exactly; need I say more.  I mean hey, if we are going to ride on the “Maverick” speech the whole time during this campaign…..does he have anything else besides 90% of Bush in him?

     

    I am a Republican and not afraid to say it, but I also wanted to vote for McCain, until I really started to read into the facts.  But let’s all be realistic, is it really a good idea?  I mean think for one dog on minute….is it really a good idea to have this guy in the Oval Office as our President when he has been here longer then I can shake a stick at and hasn’t made his own decisions on change in this Country.  (Country First)  No, of course not….totally bad idea, you might as well run a speeding bullet into everyone’s lives here in the United States.

     

    We all understand, Politics is Politics and Facts are Facts.  McCain has done nothing but turn, twist, separate and misconstrue Obama’s and Biden’s words up side down, around, in between, left, right and inside out!! 

     

    Now there is the whole controversial issue of having 95-98% of the total working class not having their taxes raised, but then raising taxes on the minority, which would be the huge Corporations right here in the United States.

     

    I would personally have to say that you would and can take this from a 3rd grade perspective.  It is as easy as this…..if you take no more additional money or taxes then what we are already paying from 98% of the Country and put the rest on the big Corporations that not only bring jobs here to the American people, but huge amounts of revenue.  What would you do…..duh….you would probably try to find a different way to make your money.  Whether it be shutting down and losing more American jobs or not shutting down and still losing American jobs.  It is all the same, they both share the same common denominator here.  Which we all know what this…. “common denominator” is….which is….. these big companies are just going to group up, pack up and ship the heck out of here across seas to save money on tax dollar’s.  It isn’t a surprise or a revelation my friends that this is happening and will continue to happen the more our economy struggles to make the change that we all need.  Doing the same thing over and over again, expecting different results is the exact definition of Insanity or Crazy.  It doesn’t take a Rocket Scientist to figure this out folks….again from a 3rd grade perspective….here we go…..if you bang your head on a brick wall and it really is starting to hurt……are you going to keep banging your head on that wall or are you going to do what most people would do.  Stop!!!

     

    This my friends is really the only big controversial thing I see that Obama, once in office, will have to realize he needs to still change and work on a few things.  Unlike McCain and again, I love this guy…..but he simply has “no more time for change”, put that in your book.

     

    Lastly, I will leave you all off on this great quote of the day.  “You can’t teach an old dog new tricks”.  Think about it!

     

     

    Written and Authored by: Michael Fleishour

    Rating: 4.5/5 (2 votes cast)
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  • 21Oct

    Illinois sheriff to resume foreclosure evictions

     

    From Susan Roesgen
    CNN

     

    CHICAGO, Illinois  An Illinois sheriff said Thursday he’ll soon resume evictions at foreclosed properties after reaching a deal that he says will keep “innocent tenants” from being victimized.

     

    Sheriff Thomas J. Dart had suspended evictions last week in Cook County, which includes Chicago. But he said they will resume Monday, adding that a deal between his office and a local chancery court is “bringing sanity” to the eviction process.

     

    “Innocent tenants [will no longer] be victimized by an uncaring, reckless system,” Dart said.

     

    Dart said October 8 that he was suspending all foreclosure evictions to protect some renters whose landlords were behind on mortgage payments. He said some renters were paying their rent on time and weren’t receiving proper notice of the evictions.

     

    He also said mortgage companies routinely failed to do something they were supposed to: identify a building’s occupants before asking for an eviction.

     

    On Thursday, Dart said evictions will resume Monday with the following conditions:

     

    The bank holding the mortgage must provide a court with a detailed description of the building and names of all occupants at the time of the initial foreclosure filing.

     

    Before the entry of an eviction order, banks must provide a date that bank representatives last inspected the property.

     

    Banks must prove that they informed tenants of a 120-day grace period, which state law grants to allow tenants to find new housing before moving out.

     

    Dart also said he will hire a full-time social worker to help evictees find alternative housing and connect them with community social services.

     

    When Dart announced the suspension last week, Cook County was on track to reach a record number of evictions, many due to mortgage foreclosures.

     

    Foreclosures in the Chicago area have tripled in the past two years, according to the sheriff’s office. In 2006, 18,916 cases were filed in Cook County; this year’s total is expected to exceed 43,000.

     

    The Illinois Bankers Association last week criticized Dart’s decision to suspend evictions, saying Dart “was elected to uphold the law and to fulfill the legal duties of his office, which include serving eviction notices.”

    Rating: 0.0/5 (0 votes cast)
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  • 21Oct

    Appraisers Blame Countrywide for Lost Income

     

    Blacklisted appraisers claim

     

    A group of appraisers has filed a class-action lawsuit against Countrywide Financial Corp. claiming the mortgage giant was responsible for damaging the business of thousands of appraisers.

     

    Capitol West Appraisers filed the lawsuit today in U.S. District Court for the Western District of Washington against the Calabasas, Ca. based company, according to an announcement from the plaintiffs’ law firm, Hagens Berman Sobol Shapiro.

     

    The plaintiffs claim that appraisers who don’t come in at values expected by Countrywide are blacklisted. The field review list reportedly included 2,000 blacklisted appraisers as of Aug. 28.

     

    “Capitol West Appraisers refused to succumb to Countrywide’s alleged pressure to compromise its integrity and independence and refused to commit fraud and violate federal and state laws,” the press release stated. “As a result, the company made the field review list.”

     

    The Boise, Idaho, appraisal firm claims that since it has landed on Countrywide’s appraiser blacklist, its revenues have declined by $8,000 monthly.

     

    Countrywide’s actions have also allegedly caused real estate prices to be distorted.

     

    Thousands of appraisers have suffered damages as a result of being blacklisted, the statement said. Lawyers for the plaintiff hope to include all of the blacklisted appraisers as part of the class.

     

    However, the announcement does not acknowledge that even a single appraiser may have been blacklisted because of appraisal deficiencies. And no mention was made that severely declining originations may have impacted the appraisal business.

     

    The appraisal industry has largely blamed originators — and not appraisers — for fraudulent appraisals with inflated fair market values. Appraisers claim they inflated values because they feared they would lose business and income if they didn’t.

     

    Bank of America Corp. spokeswoman Eloise Hale told MortgageDaily.com that the company had not yet been served and could not comment.

     

    Capitol West Appraisals LLC, on behalf of itself and all other similarly situated, Plaintiff, v. Countrywide Financial Corp., Countrywide Bank N.A., Countrywide Home Loans Inc., Landsafe Inc. and Landsafe Appraisal Services Inc., Defendants.

    Case No. C08-1520 RAJ, Oct. 16, 2008 (U.S. District Court, Western District of Washington)

    Rating: 0.0/5 (0 votes cast)
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  • 17Oct

    FREE CREDIT TIPS

    Free Tips on How To Raise Your Credit Score

    Tip #1: Understand where credit scores come from

     

     If you are thing about trying to improve your credit score, then what you really need to do is to make sure that you understand what your credit score is and how it works. Without knowing this information, you will not be able to effectively improve your credit scores because you won’t be able to understand how the things you do in daily life actually affect your score.

     

     If you do not understand how your credit score works, you will also be at the mercy of other company’s that you try to do business with or earn some type of credit. Then you will be subjected to their terms and their price, which leads to indefinite higher rates and prices then you know you really should have to be paying.

     

    In general, your credit score is a number that lets lenders, banks and other institutions that involve credit to know how much of a credit risk you really are at that moment in time. The credit score is a number, usually between 300 and 850, that lets these agencies know how well you are paying off your debts and how much of a credit risk you are.

     

    Now the higher your credit score, the better credit risk grade you make and the more likely you will be given credit you want, even at great rates. Scores in the low 600s and below will all to often give you trouble in finding credit, while scores of 720 and above will generally give you the best interest rates out there. However, credit scores are a lot like GPAs or SAT scores from High Schools and Colleges, while they give others a quick snapshot of how you are doing, they are interpreted by people in different ways. Some lenders put more emphasis on credit scores than others.

     

    Now, some of these agencies will work with you if you have credit scores in the 600s, while others offer their best rates only to those people with very high scores. Some agencies will look at your entire credit report while others will accept or reject your loan application based solely on your credit score. It all depends on their prices, products they are selling and the agencies guidelines at that moment that their reps have to follow.

     

     The credit score is based on your credit report, which contains a history of your past debts and repayments. Credit bureaus use computers and mathematical calculations to derive a credit score from the information contained in your credit report.

     

     Each credit bureau uses different methods to do this, which is why you will have different scores with different companies, but most credit bureaus use the FICO system. FICO is an acronym for the credit score calculating software offered by Fair Isaac Corporation Company. This is by far the most used software since the Fair Isaac Corporation developed the credit score model used by many people in the financial industry and is still considered one of the leaders in the field.

     

     In fact, credit scores are more often called FICO scores or FICO ratings, although it is important to understand that your score may be tabulated using different software.

     

     Another thing you might want to understand about the software and mathematics that goes into your credit score is that the math used by the software is based on research and comparative mathematics. This is an important and simple concept that can help you understand how to boost your credit score. In simple terms, what this means is that your credit score is in a way calculated on the same principles as your insurance premiums.

     

     Your insurance company likely asks you questions about your health, your lifestyle choices (eg: such as whether you are a smoker) because these bits of information can tell the insurance company how much of a risk you are and how likely you are to make large claims later on. This is widely and solely based on research and data that is compiled by these sources.

     

     Studies have shown, for example, that smokers tend to be more prone to serious illnesses and so require more medical attention. If you are a smoker, you may face higher insurance premiums because of this.

     

    Similarly, credit bureaus and these agencies often look at these types of general patterns. Since people with too many debts tend not to have great rates of repayment, your credit score may suffer if you have too many debts. Let me give you some examples that can help you understand this in a couple other ways.

     

    Understanding this can help you in two ways:

     

     1) It will let you see that your credit score is not a personal reflection of how “good” or “bad” you are with money. Rather, it is a reflection of how well lenders and companies think you will repay your bills, based on information gathered from studying other people.

     

     2) It will let you see that if you want to improve your credit score, you need to work on becoming the sort of debtor that studies have shown tends to repay their bills. You do not have to work hard to reinvent yourself financially and you do not have to start making much more money. You just need to be a reliable to the lenders and other companies giving you this credit.. This realization alone should help make credit repair far less stressful for you and your family today.

     

    Credit reports are put together by credit bureaus, which use information from client companies. It works like this, credit bureaus have clients, such as credit card companies and utility companies and many others, who all provide them with information for them to gather, compile and then score.

     

    Once a file is begun on you, then the information about you is then stored on the record. If you are late paying a bill, the clients call the credit bureaus and report this. Any unpaid bills, overdue bills or other problems with credit count as “dings” on your credit report and affect your score and in some cases dramatically.

     

    Information such as what type of debt you have, how much debt you have, how regularly you pay your bills on time, and your credit accounts are all information that is used to calculate your credit score.

     

    Your age, sex, and income do not count towards your credit score. The actual formula used by credit bureaus to calculate credit scores is a well-kept secret, but it is known that recent account activity, debts, length of credit, unpaid accounts, and types of credit are among the things that count the most in tabulating credit scores from a credit report.

    Rating: 5.0/5 (2 votes cast)
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  • 16Oct

    Winners and Losers

     

    HELOC

     

    By:  Chris Kissell

     

    When the Federal Reserve meets, we all have questions: What does it mean to me? Will my HELOC rate go up or down? Bankrate has looked at five categories: mortgages, home equity loans, auto loans, credit cards and certificates of deposit in order to determine if the Fed’s moves made you a winner or a loser. Here’s a look at home equity loans and lines of credit:

     

    Winner: Borrowers with existing home equity lines of credit

     

    After leaving the federal funds rate unchanged for months, the Federal Reserve made an abrupt about-face with an emergency half-point quarter-point rate cut.

     

    The surprise rate cut was made in coordination with other central banks across the world, including the Bank of England, the European Central Bank and banks in Canada, Sweden and Switzerland.

     

    Rates on home equity lines of credit typically are tied to the prime rate, which moves in tandem with the federal funds rate.

     

    So, the latest Fed rate cut means homeowners with home equity lines of credit will enjoy even lower borrowing costs — as long as their lenders haven’t frozen access to equity lines.

     

    That makes HELOC borrowers winners — even if (like many Americans) they haven’t felt like financial winners recently.

     

     Loser: Home equity loan and HELOC shoppers

     

    As credit conditions tighten and home values continue to fall, few lenders are in the mood to issue new HELOCs. If you are shopping for a new HELOC, you will probably have a tough time finding a lender willing to help you out.

     

    People shopping for home equity loans are likely to run into the same roadblocks as those seeking HELOCs. To make matters worse, loan rates have been climbing for months and are now more than 35 basis points higher than their 2008 lows.

     

    Take action

     

    Home equity products are often a great way to borrow, because the interest is tax-deductible.

     

    The Federal Reserve’s surprise decision to cut the federal funds rate means borrowing costs on home equity lines of credit will sink even lower.

     

    Federal Reserve actions do not directly affect home equity loan rates, which have been climbing in recent months.

     

    Opening a HELOC or taking out a home equity loan may be your best bet for borrowing if you can find an institution willing to lend to you.

    Rating: 1.0/5 (1 vote cast)
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  • 15Oct

    Government to Invest in Banks

     

    Some of the $700 billion Troubled Asset Relief Program will be used for the U.S. government to invest directly in U.S. banks. The rescue package also includes bank loan guarantees and provisions to stabilize the commercial paper market.

     

    In a news conference this morning, President Bush said the federal government will purchase equity shares using funds from the $700 billion financial rescue plan.

     

    Once the market stabilizes, banks will be encouraged to buy back the government’s shares with funds they raise on their own.

     

    -UApply Team.

    Rating: 5.0/5 (1 vote cast)
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  • 13Oct

    Default Servicing News

    “Mortgage Lenders With Seriously Delinquent And Defaulted Mortgages Have New Option To Tackle Most Difficult Loans In The Mortgage Market Today”

    Several states are calling on subprime servicers to adopt streamline modifications that may cost one company more than $8 billion, while servicers of Federal Housing Administration loans are being warned about loss mitigation steps that are required to avoid damage assessments. And as some companies have emerged to help servicers deal with delinquent and foreclosed loans, one is looking to exploit lender compliance errors.

    Wingspan Portfolio Advisors LLC announced last week that is has launched.

    The company, based in the Dallas area, helps servicers convert non-performing loans into re-performing mortgages utilizing an aggressive incentive compensation plan for its specialists. Founder Steven Horne is a lawyer who previously worked for Fannie Mae and Ocwen.

    Rating: 5.0/5 (1 vote cast)
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  • 13Oct

    TARP Gives Hope to Mortgage Sector

    Combined with a recent improvement in subprime performance, the $700 billion plan for the U.S. Treasury Department to buy up mortgage assets has the potential to significantly help the mortgage business.

    As the secondary market for nonconforming loans froze up last August, both jumbo and Alternative-A lending became scarce. Today, Alt-A loans are virtually impossible to find and subprime programs have disappeared

    All that remains are conforming programs — which came close to stalling prior to the government’s seizure of Fannie Mae and Freddie Mac, FHA loans and low loan-to-value hard-money loans.

    Rating: 0.0/5 (0 votes cast)
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  • 13Oct

    UApply Free News Posting Guidelines

    All stories must be related to the recent news, market news, your company’s news press, free services you may offer or any other current related news topics.

    OPTION 1: By completing a brief email with your article and summary of your article to news@uapply.com, you may submit the story’s full text in your email and we will host the full story on UApply. As an alternative, you may leave a field for the story’s URL address in your email if you would like us to link the story to another source.

    OPTION 2: You may send a brief email along with a link to your story that may already be posted online to news@uapply.com. To eliminate the chance of your e-mail landing in spam, please consider making your subject line, Subject: Blog News for Approval via e-mail.

    NOTE: Our online content news editors will respond with a confirmation e-mail to inform you if your story has been posted. If you do not receive a confirmation e-mail within one business day, please re-send your news and contact us at news@uapply.com or 941-240-6765 to ensure that we received your news updates successfully. You may also connect with the online content news team in our online interactive forum!

    Please send further questions to news@uapply.com.

    Rating: 5.0/5 (1 vote cast)
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  • 08Oct

    FREE CREDIT TIPS

    Free Tips on How To Raise Your Credit Score

     

    By: Michael Fleishour

     

    The Basics

     

    Before you start working on getting or driving up your credit score, you need to at least learn the basics of credit and how it actually works.  You need to know what a credit score really is, how it is scored by the bureaus XPN (Experian), TU (Trans Union), EFX (Equifax) and why credit is so important to not only you, but everyone around you as well, trying to live their day to day lives.

     

    Mortgage Companies, Lenders, Vendors, Banks and other Institutions certainly know what type of information they getting or looking for from a credit score, but by knowing this information all by yourself will not only help you better see how your everyday financial decisions in life may have an impact on your financial future of what these institutions get of you through your credit score, but also to be able to better focus your efforts on that ‘better deal’ that you truly and most likely qualify for.  A few simple tips are all you need in order to start knowing and understanding the basic principles of Credit.

     

     

    Stay Tuned for tip # 1

    Rating: 5.0/5 (1 vote cast)
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