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Eurozone debt ‘the biggest threat to UK stability’
Bank of England Governor Mervyn King says the biggest threat to UK banks’ financial stability is the eurozone sovereign debt crisis. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Duration : 0:1:44
Humes Expects `Some Form of Reprofiling’ of Greek Debt
June 20 (Bloomberg) — Hans Humes, president of Greylock Capital Management, discusses Greece’s debt crisis and the prospects for restructuring its debt.
He speaks on Bloomberg Television’s “InBusiness With Margaret Brennan.” (Source: Bloomberg)
Duration : 0:3:28
Mettler Expects Greek Debt Restructuring From September
June 9 (Bloomberg) — Ann Mettler, executive director and co-founder of the Lisbon Council, talks about the outlook for a Greek debt restructuring and for deeper fiscal integration in the euro zone.
She speaks from Vienna with Maryam Nemazee on Bloomberg Television’s “The Pulse.”
Duration : 0:5:23
Loan modifications floundering
The Home Affordable Modification Program, or HAMP, put in place by the Obama Administration, was designed to provide modified home loans to prevent foreclosure. But, as Bill Whitaker reports, the program isn’t working.
Duration : 0:2:39
Peter Schiff: US dives deeper in debt, stimulus makes it worse
Moody’s ratings agency has warned the U.S. it may downgrade its credit rating if Washington doesn’t make progress on dealing with its debt. There’s increased speculation the U.S. will have to raise it’s debt ceiling which was already reached in mid-May. But economist Peter Schiff believes that will only make a bad situation worse…
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Duration : 0:0:57
Loan Mods not working?? I may have the answer!
It’s strange how you have the Goverment allowing lenders to “modify” borrowers loans into payments that they can afford in an effort to boost the industry all the while to prevent foreclosures/short sales from occuring. Yet, less than 10% of all Loan Modifications actually get approved. WHY IS THAT? You won’t believe the sweetheart deal that the Indymac boys were given by the FDIC. It may make you very angry to realize the truth. Share this video with everyone that you know. Let everyone know where the REAL problems lie.
Duration : 0:4:55
Gross Says Geithner Gave U.S. Debt Limit `Wiggle Room’
May 16 (Bloomberg) — Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., talks about U.S. budget policy and the debt limit.
Gross, speaking on Bloomberg Television’s “InBusiness with Margaret Brennan,” also discusses European sovereign debt crises and Federal Reserve policy. (Source: Bloomberg)
Duration : 0:13:52
First Time Home Buyer Loan – FHA Mortgage after Foreclosure – RealEstateMarketingThisWeek.com
http://realestatemarketingthisweek.com – FHA Guidelines regarding foreclosures and first time home buyers –
Part 7 – Ok I was just checking because I thought this was a story about all the mortgage backed securities that were going under. It started at the top and it worked its way down. The reality of it is that people were buying homes, not reading what they were signing, not understanding how it worked and shame on the people who were putting it in front of them, knowing that they didnt know and we all need to take a little responsibility here for this past crisis. It is not just the Wall Street firms; its not just the mortgage companies and banks, the brokers have little in fact to do with it, we didnt create the loan products that people were buying, we were merely disseminating it to the public. I am glad to say I was not a part of any of that. I was able to stay away and do traditional, conventional type financing for people. So luckily I didnt have a lot of clients who got stuck into that nightmare.
Speaking of that nightmare, Dan when we talk about the people who have had foreclosures, their lives have been turned around, turned over and they think that there is no where for them to go. One of the nice things about the Federal Housing Administration loan, the FHA loan, thats the first time home buyer type loan, the minimum down payment loan, its only 3 years after you have had a foreclosure that you can qualify to purchase a home again. So it is important if you have had a foreclosure, you need to point your future away from the flame, you need to save your money, do your best, work as tightly as you can on a budget and look forward to that time when you can go back out and buy a home again.
Property values are going to be up from where they are today, but there is still going to be plenty of great value out there and there are not going to be loan products that are going to get you in trouble again. They wont exist. What really caused the great inflation in home values starting in about 2002 was the financing was just getting crazy. I wont get into a whole lot of technical stuff about mortgage backed securities and all that, but the lenders were creating products, selling them off their books, thinking that they would never have to worry about them again. They sold trillions of dollars worth of these loans and those are the ones that are going bad.
Ones that were toxic in the first place: the stated incomes, the option ARMs, all those loans are all gone now. I was saying earlier today that we are back to where we were in financing in 1992-1993, back when the median home price was $75,000. Now I dont think we are going to go anywhere near that again, I think at $130,000 we are getting real close to the bottom of the market and what I was thinking was when I got into the business in 1995 and you were in at about the same time I was, and I remember talking to a guy who comes into our office to sell us loan programs, now this is the very beginning of the really crazy stuff, and he was saying we can do 70% no doc loans.
We go, what do you mean? If somebody puts down 30% they dont have to verify anything, they dont have to verify their employment; they dont have to verify taxes, anything. We were absolutely floored, but by the peak of the market we were doing 100% no doc loans. If you were breathing they gave you a loan and the credit scores didnt have to be that high, I think I saw them as low as 600… http://realestatemarketingthisweek.com
Duration : 0:5:36
Tax on Short Sale, Loan Modification and Foreclosure – Recourse vs Non-Recourse Mortgages
http://realestatemarketingthisweek.com – Arizona is not a recourse state, so chances are you will not owe 1099 C Income –
Part 6 – In Arizona, typically its not a recourse state, so if they are telling you that theyre going to garnish your wages because you didnt pay back your entire mortgage, there is a local bank ,that was threatening a very good colleague of ours about a small second mortgage that person had taken out. Threatening to send it to collections and garnish her wages. It simply isn’t going to happen.
But nevertheless, there is still the tax implications that apply, if you need to navigate through this maze. There is a lot to it, you need to protect yourself. You talked about bankruptcy is one of those exclusions, right? One of the problems with bankruptcy is people dont understand the bankruptcy laws. They are so tight now and your feet are really held to the fire from the federal government right now. It’s not like you just didn’t make your mortgage payment, so you go file bankruptcy, it’s just not realistic. Assuming bankruptcy is the last resort option for everybody. And we certainly want to avoid that, it would not be sound financial advice from any credible source that I can think of.
Let’s walk through a case scenario, somebody who is listening to this broadcast, their head is spinning right now, they’re thinking, oh my gosh. I should have known about the tax implications, a short sale versus loan modification. Let’s start at the top and work through a quick scenario. And then we’ll point out the specifics of what they should be considering right now.
For example, we talk about this all the time and to your credit Michael Barnes and to Velocity Financials credit, you were early in bringing out the loan modification for people who were in a distress situation regarding a mortgage, maintaining or keeping up with the mortgage payment. So you started going down the path where the refinance started to become a much more difficult option, with new constraints and all the other factors that led to part of this economic crisis, a loan modification has become a buzz topic today. Driving to the station today, driving down Camelback Road, I see a sign on the corner. You know, one of those stick in the ground, homemade jobs, that says don’t refi a Loan, modify, with some success rate and the phone number.
Hang on there I want you to say the success rate. The sign literally said, 99% success rate, and it goes back to the point that you made when they say that they can reduce your mortgage principal by tens of thousands, hundreds of thousands of dollars, thats the absolute last resort for any lending institution. Thats not what this is about, so let’s start with that, then we will work on the tax ramifications of how that might work in the overall financial strategy.
I am familiar with the loan modification industry here in Arizona. There is no regulation, unfortunately. We at Velocity Financial work with a national network of attorneys, so if you’re the guy in El Centro California, or youre in Phoenix, or youre in Alaska it doesn’t matter where you’re at. We have someone who is an expert in that field in that state because the laws are different. But without the regulations some person with the ugly yellow sign on the side of the road says he has a 99% success rate, I don’t believe him it’s probably not using an attorney, who knows, dont buy into that garbage. Were going to tell you the truth, if we cant do a loan modification, we will tell you that we cant do it. And if a loan modification is not the best thing for you, you can find the some of these other options… http://realestatemarketingthisweek.com
Duration : 0:5:19
Undetectable RuneScape Money Hack Working 2011
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Duration : 0:5:25
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