You would think that mortgage rates would fall with the Federal Reserve cutting rates this week, only to see them rise. According to Bankrate.com, mortgage rates are up .17% this week with the 30 year at 6.17% as of December 12, 2007. How can this be, when the Federal Reserve has been cutting rates for […]
Is the rate cut too little and too late? A quarter point rate cut does not really mean much in this declining real estate market. Even the stock market is disappointed in the minutes following the announcement (Dow Jones Industrial Average Down 230 points at 3:00 PM EST) .Lately the discussion has been “is the […]
According to AP report on Yahoo Finance, Freddie Mac CEO Richard Syron says “I honestly think it’s going to get tougher before it gets better,” in a discussion with financial analysts. With every press conference or analyst meeting, the blood letting continues. There appears to be no end in sight yet. So far I have […]
As President Bush announced the grand plan to help 1.2 Million Homeowners who are facing rate increases from their teaser rates, Leading Rich has dug into the foundation that is making it all happen. The Homeownership Preservation Foundation is a 501(c)(3) nonprofit that is funded by Major US Banks including, Citibank, Countrywide, GMAC ResCap, Merril […]
If you have tried to call 1-800-995-HOPE, then you might have better luck to send a letter via snail mail than getting someone to answer. Leading Rich has been trying to get through to experience what 1.2 million Americans may find on the other end of the line only to find a busy signal. […]
