A Case for Mortgage Principal Reductions by Mark Hanson

I believe that the housing market will ‘fix’ itself over time and constant meddling only prolongs the inevitable. But regulators, politicians and banks are hell-bent on ‘saving’ us with programs that will just not work. In my opinion, the only way to ‘fix’ the housing and mortgage markets and consumer?s balance sheet is to undo 2003-2007. To ‘undo’ means to:
a) Force de-levering the home owner/consumer through mortgage principal balance reductions based upon what the borrower really earns using market-rate financing
b) Make it so home owners can freely refinance and sell their homes
c) Make it so the vitally important move-up buyer comes back
d) Significantly reduce defaults and foreclosures without making home owners underwater, fully-leveraged, renters for the rest of their life, as the present mortgage modification plans do
e) Allow home prices to fall to attractive multiples of rents and incomes without exotic loan programs or artificial, temporarily, government induced low mortgage rates

December 31st, 1969 | Posted in Uncategorized | Read More »

New strategic partnership offers ?Extraordinary Resources? to loan originators

Boise, Idaho and Pella, Iowa?MyMortgageCommunity.com, a peak performance coaching and online community, and Velma.com, a virtual marketing assistant and CRM system, announced today their strategic partnership designed to make the lives of mortgage originators both simpler and more successful.

?Originators today are overwhelmed with the complexity of managing and implementing all the different resources, strategies and tools they receive? says David Bush, CEO and Founder of MyMortgageCommunity. ?We now can provide all the services and resources originators need in one program for a single monthly membership fee.?

December 31st, 1969 | Posted in Uncategorized | Read More »