Melanie's Blog

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Mortgage and Lending - Universal Mortgage Mart, LLC
RECENT BLOG POSTS
The only kind of whopper a person with this kind of ‘BK' is going to get is a whopper of a headache. In this, the legal sense for the abbreviation, we're talking about BANKRUPTCY. And for struggling homeowners it often represents what they think is the last stand they can take before losing their...
04/30/2008
While foreclosure activity in the first quarter of 2008 was up on a year-over-year basis in 90 percent of the nation's 100 largest metropolitan areas, according to the RealtyTrac Q1 report issued today, there were a few notable exceptions that could prove to be a harbinger of hope for the nation'...
04/30/2008
The downward spiral that has sent this nation's real estate market reeling out of control is far from over yet. For all the election year rhetoric flying around these days about the general state of the national economy, although the situation is not all doom and gloom, the news does not look as ...
04/30/2008
Early this month the PMI companies decided to discontinue insuring reduced documentation loans. These loans were commonly referred to as Stated Income and/or Stated Assets. As a result many lenders withdrew these programs from their product lines. Un-insured loans on a reduced documentation basis...
04/30/2008
A declining market has become a subject we have mentioned over the past year quite frequently. The overall economy plays an important role. But, even when the economy was thriving there still were markets that declined in value.  I am also going to discuss my opinions on what I feel about the ind...
04/30/2008
The United States  Department of Agriculture has been offering loans for quite some time. Many area's are approved to use this type of financing. This loan works simular to FHA or VA as far as qualifying. However, you are subject to income restrictions and geographical area's. Not all area's are ...
04/30/2008
With the collapse of sub-prime lending many loan products vanished. However, most of these products were doing a short term benefit with a long term catastrophy.Most loan officers were forced to put customers into an FHA, VA, or USDA loan. These loans are very good loans with low interest rates a...
04/30/2008
Existing home sales, including single-family homes, townhomes, condos, and coops slipped 2.2 percent in December to a seasonally adjusted annual rate of 4.89 million units from an annual pace of 5 million in November. The December figure was 22 percent lower than the 6.27 million sales pace in De...
04/05/2008
In late December, President Bush signed the Mortgage Forgiveness Debt Relief Act of 2007, which provides tax help for homeowners facing foreclosure or who sell their homes in a short sale.Previously, if the value of your home declined and your bank or lender forgave a portion of your mortgage deb...
04/05/2008
Housing downturn makes refinancing more difficult  Lenders less likely to make loans in deflating marketsRefinance applications jumped during the first week of 2008, according to a recent weekly survey from the Mortgage Bankers Association. The catalyst was lower interest rates on 30-year fixed-r...
04/05/2008
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Melanie Rogers

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