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Tuesday, July 22, 2008 1:09 PM

Sign of the L at Wachovia

The big W from Charlotte posted the big L today reporting a whopping record loss of $8.9 Billion, more than the bank ever earned in a year. Most of the problems and losses at Wachovia were attributed to the purchase of Golden West Financial two years
Posted by Howard Arnoff | 0 Comments
Wednesday, July 16, 2008 6:34 AM

Mortgage insurers and declining housing markets

The good news for the Charleston real estate market is that Charleston is not considered a declining market according to the mortgage insurers. A lot of the country is as mortgage insurers attempt to reduce risk. A big change is that borrowers can no
Posted by Howard Arnoff | 0 Comments
Monday, July 14, 2008 5:12 AM

A modest mortgage proposal

With the government throwing trillions of dollars around almost daily including the latest announcement of support for Fannie Mae and Freddie Mac, I think the government should just pay off everyone's mortgage. I'm not sure of the total cost but
Posted by Howard Arnoff | 0 Comments
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Friday, July 11, 2008 8:53 AM

Trouble at Fannie and Freddie

The stocks of Fannie Mae (chart on left) and Freddie Mac are tanking faster than new rumors can circulate. Should the government (taxpayers) bail them out or are they really already quasi governmental anyway. Are they too big to let fail and what would
Posted by Howard Arnoff | 0 Comments
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Thursday, July 10, 2008 9:00 AM

Choose wisely when selecting a mortgage lender

Jim Duncan at RealCentralVA once said in a post, "When I advise my clients to use a lender whom I know and trust, it's not that I have any special ties, receive kickbacks, or anything else underhanded or shady. It's because I am looking out
Posted by Howard Arnoff | 0 Comments
Tuesday, July 08, 2008 12:18 PM

Mortgage reform proposed, mortgage abuse advertised

I've written about this subject many times and I know my friend Larry Cragun at Real Estate Undressed will be thoroughly disgusted by this. While the Fed is addressing new rules to protect future homebuyers, look who is advertising on the same Yahoo!
Posted by Howard Arnoff | 3 Comments
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Monday, July 07, 2008 11:18 AM

Are mortgage lenders taking a new approach

... with honest advertising. I was in my car running all the catch up errands this morning and heard an ad by Lending Tree on the radio that differed from most of the typical misleading and lies most lenders have been using the past few years. Lending
Posted by Howard Arnoff | 2 Comments
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Saturday, June 07, 2008 8:41 AM

Another famous foreclosure

I mentioned the sad story of Ed McMahon the other day and now comes news that Evander Holyfield is in a bit of a financial mess. Not only has he missed 2 child support payments (for 1 of his 11 children) but his $10 million estate on 235 acres outside
Posted by Howard Arnoff | 6 Comments
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Wednesday, May 14, 2008 3:34 PM

Charleston foreclosure trends, May 14, 2008

If you read the newspaper or turn on the television or check your news via the Internet, rising foreclosures is certainly one of the top stories. With all the bad news you would think that everyone in the country should be packing their stuff in anticipation
Posted by Howard Arnoff | 2 Comments
Wednesday, April 16, 2008 5:56 PM

It's not just subprime

There is so much news about the growing problem of foreclosures, members of Congress and those running for President are tripping over themselves to figure out some way to bail out those who are likely to lose their homes to foreclosure. After all, the
Posted by Howard Arnoff | 0 Comments
Tuesday, April 15, 2008 6:36 AM

Foreclosure data, March 2008

I've talked about rising foreclosures in the past few days, The Post and Courier headlined the growing problem on Saturday so let's cut to the chase and look at the numbers. Courtesy of RealtyTrac, in March, South Carolina ranked 35th of all the
Posted by Howard Arnoff | 2 Comments
Monday, April 14, 2008 3:07 PM

Mortgage delinquency rates

... have been rising and that isn't a big surprise. The Wall Street Journal has a fascinating interactive map showing changes in the mortgage delinquency rates for the last 10 quarters going back to the fourth quarter of 2005. South Carolina always
Posted by Howard Arnoff | 4 Comments
Tuesday, April 08, 2008 7:51 AM

This post is not about the new Zillow Mortgage Bourse

... because it's been thoroughly discussed across the real estate blogosphere. As always, the gang at The BloodhoundBlog covered Zillow's new mortgage bourse. Check out the Odysseus Medal competition with links to well written articles including
Posted by Howard Arnoff | 2 Comments
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Friday, April 04, 2008 7:11 AM

Bank response to short sales - slow might be too kind a word

I've written about short sales before and opined they are a waste of time for buyers to pursue. Don't confuse buying a short sale with a foreclosure which is actually lender owned property (REO) that can generally get done. An article by Reuters
Posted by Howard Arnoff | 0 Comments
Thursday, April 03, 2008 5:57 AM

Dumb and Dumber

I never saw the movie but I always loved the phrase. Click here to read about Congress in action on mortgage, real estate and other relief packages at Yahoo!
Posted by Howard Arnoff | 0 Comments
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