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Tom Selleck has recently faced backlash for promoting reverse mortgage scheme. A source spilled to Radaronline.com that the Blue Bloods actor’s fans found his TV ads misleading. “A lot of people who used to look up to Tom think it's despicable he's the spokesperson for a reverse mortgage lender that is seen as preying on the elderly,” said an insider. The source pointed out, “It's all well and good for him to preach – but he still makes huge paychecks and lives on a 63-acre ranch in California, so what would he know about hardship?” “The feeling is that the...

The order is part of HUD's and the Department of Homeland Security's new initiative that seeks to end "wasteful misappropriation" of taxpayer-funded public housing resources that are going to illegal immigrants. Department of Housing and Urban Development (HUD) on Wednesday canceled some of the mortgages for illegal migrants, as the department looks to prioritize federal home loans for U.S. citizens. Illegal migrants are already ineligible for Federal Housing Administration loans, but the new order will give HUD greater enforcement power to ensure that illegal migrants are not somehow getting assistance anyway, the National Review reported. The order is part of...

Home ownership has been the foundation of middle-class stability and security for so long that it defines middle-class status as much as income. From the end of World War II in 1945 on, the deal was simple: buy a house and you'll build equity that's even better than a savings account because you get the tax break of deducting mortgage interest and you get a roof over your head at a cost that's equal to or even lower than renting a house. Once you've paid off the mortgage, the costs of ownership drop, enabling a secure retirement.Every one of these...

Obama's New Chief Of Staff Made Some Amazing Hedge Fund Investments At Citi Lisa Du Jan. 10, 2012, 3:50 PM Ever since it was announced that Jack Lew, current head of the Office of Management and Budget, would be President Barack Obama's new Chief of Staff to replace the departing William Daley, the media sphere has been abuzz with Lew's stellar political resume—having worked for several Congressmen and under both Bill and Hillary Clinton—and the fact that he is described as a "mild-mannered and steady technocrat," enjoying bi-partisan support. But the incoming chief has another facet to his work history—he's...

Donald Trump on Saturday promoted a comment from an ally who was criticizing New York Attorney General Letitia James, and shortly after another ally was seeking to release "damaging receipts" on James. Trump over the weekend took to his own social media site, Truth Social, where he shared a post by infamous associate Roger Stone. "A careful examination of New York Attorney General Letitia James financial disclosures shows she inflated the value of her assets in order to get mortgages on various commercial properties- EXACTLY what she falsely accused President Trump of doing" Stone claimed without providing details. After Trump...

As deadly wildfires continue scorching their way through Los Angeles and the surrounding area for the second straight week, homeowners are worried about the prospect of defaulting on their mortgages in the wake of the unprecedented disaster were offered some reprieve from the nation’s major lenders. On Monday, Fannie Mae and Freddie Mac unveiled mortgage assistance and relief options for customers reeling from the historic Southern California fires. Both government-backed corporations are offering 12-month forbearance plans, meaning that struggling homeowners could either reduce or suspend their mortgage payments for up to a year without incurring late fees, foreclosure, or other...

Recently, Freddie Mac, a government-sponsored enterprise, sought approval from its oversight agency, the Federal Housing Finance Agency (FHFA), to purchase and guarantee second mortgages in the United States.While the business case for this proposal is deficient (for an excellent perspective on that, see the article by R. Christopher Whalen), I will discuss the economic and political premises behind this move and its possible consequences.What Does It Mean to “Nationalize Second Mortgages”?Understanding the single-family mortgage market in the US means realizing that there is no market in the real sense of that term. A whopping 70 percent of home mortgages in...

Thousands of homeowners face the risk of losing their homes due to “zombie mortgages” bought by companies — with some forcing foreclosures without their knowledge, according to a shocking report.. Many of the stunned homeowners took out second mortgages during the subprime lending housing bubble between 2004 and 2008 that they believed were written off — only to learn the mortgages have come back to haunt them. An investigation by NPR found at least 10,000 old second mortgages that foreclosure activity had been initiated on in just the last two years. [snip] But their was a “zombie” mortgage on her...

Homebuyers are feeling whiplashed by surging mortgage rates, and the outlook just turned grim. The average rate on the 30-year mortgage increased to 7.37% on Thursday, a steep climb from 7.11% at the beginning of the week, according to Mortgage News Daily. The quarter-point increase comes as rattled investors respond to a hotter-than-expected inflation reading. At the same time, a separate measure tracking weekly average rates rose to 6.88%, up from 6.82% the week prior, Freddie Mac found. Elevated rates have left would-be buyers in a pinch, causing both repeat and first-time buyers to step away from any purchase plans....

Why Biden thinks the Chinese Communists are “not bad folks” and “not competition for us.” “Biden Gets China,” headlined the January 2, 2012 report in The Atlantic. As author Steve Clemons explained, “Vice President Joe Biden will take the lead on the administrations next phase China policy.” This marked a shift to a “strategy of engagement with Biden at the top,” that allows the US to deal with China’s likely next president from a Vice President to a Vice President/Next President status -- and to continue both the Departments of State’s and Treasury’s ongoing engagement with other designated key Chinese...

Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial mortgages held by lenders and investors will mature in 2024, a 28 percent increase from the $729 billion that matured in 2023 ... “The lack of transactions and other activity last year, coupled with built-in extension options and lender and servicer flexibility, has meant that many loans that were set to mature in 2023 have been extended or otherwise modified and will now mature in 2024, 2026, 2028 or in other coming years,” said Jamie Woodwell, Head of Commercial Real Estate Research at MBA. “These extensions and modifications have...

Tth elevated interest rates and persistently high home prices, American homebuyers have felt firsthand the squeeze on their budgets. According to real estate mogul Grant Cardone, the necessity for substantially longer mortgage terms is on the horizon. “The savior of America will not be lower prices, it will be longer mortgages,” he said in a recent TikTok video. “In your lifetime, you will see mortgages go from 30 to 40, 50 and maybe even 60 years. You could, if you live long enough, see a 100-year mortgage in America.”

Hundreds of loans on office buildings are about to come due at a very bad time.. Loans were taken out in time of low interest rates and are now hard to refinance.. Too many of the loans defaulting could trigger banking crisis and hurt economy ... About $117 billion worth is expected to be due this year and needs to be repaid or refinanced, ... A big chunk of it is at risk of defaulting and costing banks and developers huge sums, sending some into insolvency. Owners of office space around the country took out their loans when interest rates...

Attorney John Thaler joined Brannon Howse with former Arizona State Representative Mark Finchem Friday night on Lindell TV to explain the alleged phony mortgage and real estate transaction scam used by the Sinaloa Cartel to bribe elected officials and control the state of Arizona. The Sinaloa Cartels and the treasonous Americans who work with them are destroying our country by flooding Arizona with dangerous drugs and crime. The Gateway Pundit reported that Tempe Police seized over 30 million lethal doses of fentanyl. In 2022, the DEA nationwide seized over 50.6 million deadly fentanyl-laced fake prescription pills and over 10,000 pounds...

Mortgage rates jumped again this week — remaining at a 23-year high and increasing the likelihood that rates could soon hit 8%. The rate on the average 30-year fixed mortgage increased to 7.49% from 7.31% the previous week, according to Freddie Mac, following the yield of the 10-year Treasury, which spiked to a 16-year high this week. Rates are at their highest point since December 2000 for a second week in a row, with few signs of softening. Steeper rates continue to smother homebuyer demand, forcing the price-conscious to the sidelines. Meanwhile, those still on the hunt leaned on lower-rate...

Home mortgage rates have surged past 7%, hitting the highest level in more than 20 years and dealing another blow to Americans trying to break into the housing market. The average rate on the popular 30-year fixed mortgage was 7.09% this week, up from 6.96% last week and the highest since 2002, according to data released Thursday from mortgage giant Freddie Mac. One month ago rates were at 6.78% and for much of the year held in the low-to-mid-6% range. But borrowing costs have been on the rise lately. Inflation is a major driver of mortgage rates and amid continued...

Now that inflation is waning, there is hope that mortgage rates will fall to 5% in 2024. These lower rates would make borrowing to buy a home less expensive, but they could make the housing market much harsher for first-time homebuyers. That’s because a drop in mortgage rates would cause an increase in demand, and more demand without more supply is a recipe for competition. Like in 2021, we could see a spike in bidding wars, with the typical home selling above its asking price in record time. First-time buyers should prepare for a challenging road ahead as inflation dies...

BREAKING: Katie Hobbs and Runbeck election services have been named as recipients of Sinaloa cartel bribes via deeds of trust and phony mortgages in AZ senate investigation. When are the criminals running this country going to be held accountable? A California-based law firm has accused Arizona Gov. Katie Hobbs, Secretary of State Adrian Fontes, Runbeck Election Services, and a slew of other election officials, mayors, judges, city councilman, and county supervisors in the state of receiving bribes from the Sinaloa cartel. During a Thursday hearing before the Senate Elections and Municipal Oversight & Elections Joint Committee, the principal investigator for...

Home sales plunged 21 percent in the United States during the month of April, as new prospective homeowners appear to be scared of being 'locked in' to higher mortgage rates. The number of new listings continued what appears to be a trend, as listings are down 31 percent from 2019. The 2019 figure was used as a benchmark as it happened before the pandemic. In April 2021, home listings were up 41.5 percent over 2019. Mortgage rates have gone over 6 percent since September of 2022, causing the once-booming housing market to finally settle.

One of the steps recommended for financial success is to achieve a good credit rating. Showing that you can borrow money and pay it back opens doors for more opportunities. Organizations that have money to lend like this behavior and become more willing to advance the sums needed to finance a home or business. The Biden Administration does not. This week, President Biden signed a decree that will add a $40 per month charge to loans made to credit-worthy borrowers. The funds obtained will be used to subsidize loans to unworthy borrowers. Treasury Secretary Janet Yellen called the cross-subsidy scheme...