Archive for April, 2007

Why Are Is Housing Employment Down So Little? Illegal Immigrant Labor is the Story

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The New York Times spins it in their headline, Housing Slump Takes a Toll on Illegal Immigrants. After reading that I was expecting a story on illegal immigrants getting caught in sub prime lending scams. But the story was concerning the slowdown [...]

18Apr2007 | Tom Royce | 2 comments | Continued

Fannie Mae, Freddie Mac developing HomeStay Loan Program For Subprime Borrowers in Difficulty

As foreclosures are speeding up and the majority are for subprime borrowers in Adjustable Rate Mortgages (ARMs), the mortgage industry has been in turmoil. It looks like Freddie Mac, Fannie Mae, the mortgage lenders, and Wall Street have all come together to create a new product that may alleviate the pressure on these borrowers.
The new program [...]

18Apr2007 | Tom Royce | 4 comments | Continued

Amazon’s Jeff Bezos Going Beverly Hills

Jeff Bezos is not leaving Seattle for good, but he is going Hollywood, or more accurately Beverly Hills. The creator of Amazon’s empire has purchased a 30 million dollar mansion in Beverly Hills that is considered one of the premier properties in a city know for expensive and exclusive properties.
As for his new home, Bezos [...]

17Apr2007 | Tom Royce | 1 comment | Continued

Most Mortgage Defaults in California Happening Inland, Not On Coasts

It looks like the mortgage defaults and foreclosures in California are not happening in the coastal regions but in the inland parts of the state. This is pretty logical as those that are buying the prime properties are not stretching as much as those who are willing to commute longer distances to get into their [...]

16Apr2007 | Tom Royce | 1 comment | Continued

Donny Deutsch is Seinfelds New Neighbor in the Hamptons

Jerry Seinfeld is getting a new neighbor in his East Hampton enclave, television and advertising star Donny Deutsch. The flamboyant and outspoken Deutsch has been reported looking for his ideal Hamptons getaway and has settled on the property next to Jerry Seinfeld. The historic home that presently is on the property is being moved to a new [...]

16Apr2007 | Tom Royce | 0 comments | Continued

Mod Squad Proactively Helps EMC Mortgage Customers Facing Foreclosure

One of the biggest problems with people who get into debt is that they typically hit a denial wall. They continue the behavior that got them in trouble until it is too late. EMC Mortgage recognizes this trend and the issues of foreclosure that are facing many of it’s customers.
Instead of waiting for it to [...]

16Apr2007 | Tom Royce | 24 comments | Continued

Maria Bartiromo and Husband Buy $6.5 M. East Side Townhouse

According to the New York Observer, CNBC star Maria Bartiromo and her husband Jonathan Stienberg have purchased a 5 story townhouse in Manhattan. What makes this more newsworthy was the scandal when Bartiromo was traveling with Citigroup executive Todd Thompson who was later fired for his conduct with Bartiromo.
People watching the situation were expecting a [...]

15Apr2007 | Tom Royce | 0 comments | Continued

Census Bureau Plans The American Housing Survey

The Census Bureau is planning on conducting its largest review of housing trends in the country’s history with its American Housing Survey. There will be 76,000 homes surveyed by questionaires and personal visits to ascertain the status of the United States housing market.
Those chosen to be interviewed are expected to answer all the questions in [...]

14Apr2007 | Tom Royce | 0 comments | Continued

RealEstate.com Names Brett Voilette President

Brett Violette has been named President of RealEstate.com, a division of LendingTree. As you may know the President of LendingTree, Tom Reddin, resigned this past week to spend time with the family.
It looks like things over at LendingTree and its divisions are in the midst of a shakeup.

Violette, who joined RealEstate.com in 2005 [...]

14Apr2007 | Tom Royce | 1 comment | Continued

Wells Fargo Steps To Success Program For SubPrime Borrowers Gets 30,000 Participants

In an effort to teach borrowers how to manage their finances better, Wells Fargo has created their Steps For Success Program . The Steps to Success program provides tools such as credit reports and advice to improve their credit and ability to repay their loans. Since the launching of the program in December they have gotten over [...]

14Apr2007 | Tom Royce | 2 comments | Continued