ARCHIVED BLOG POSTS

2008 

Future Planning Financial Strictly Mortgage For the second time this month the Federal Reserve has slashed key interest rates in hopes of stimulating the U.S. economy. Although the rate cut does not tie directly into mortgage rates, mortgage rates have been on a downward spiral for the past month...
01/30/2008
Future Planning Financial Strictly Mortgage Thanks to the Federal Reserve’s emergency rate cut earlier in the week, fixed rate mortgages have declined for the fourth straight week in a row. The news has brought forth a refinance boom that could save many homeowners from their adjustable rate mort...
01/25/2008
Future Planning Financial Strictly Mortgage State Assemblyman Ted Lieu is pushing for a bill that requires mortgage lenders to tighten up already strict guidelines to make sure homebuyers can afford their basic monthly bills before qualifying for a mortgage loan. This bill would also ban certain ...
01/23/2008
Three mortgage lenders were ordered to pay $99 million in punitive damages to Missouri residents who were charged illegal fees on second mortgages.  On top of the $99 million in punitive damages, another $5.1 million in actual damages was ordered to be paid.GMAC Mortgage Group, one of the three l...
01/05/2008
First Midwest Bancorp Inc. has decided to stop lending practices tied to traditional mortgage originations and has began to focus on reverse mortgages instead.  First Midwest Bancorp Inc. is one of the biggest locally headquartered banks in the Chicago area.  Cynthia Lance, executive vice preside...
01/05/2008
Federal legislators are trying to pass a law that would give judges power over mortgage terms.  The law was passed by the House Judiciary Committee on December 12th but still has to pass through the House of Representatives, the Senate and the President.If passed, the new law would allow bankrupt...
01/05/2008
1/3/2008 - According to a weekly survey released by Freddie Mac, 30 year mortgage rates in the U.S. fell to their lowest average in 4 weeks and are lower compared to last year at this time.The U.S. 30 year fixed mortgage rate fell to an average of 6.07 percent, which is 0.10 percent lower than la...
01/03/2008
National City Corp., one of the nation's top ten largest banks, is eliminating another 900 employees after letting 2,500 employees go in the middle of 2007.  The job cuts will affect about one-seventh of their mortgage personnel, leaving 32,804 employees overall.National City also hired Goldman S...
01/03/2008
Seven states launched a new mortgage broker tracking process in hopes of weeding out any unethical mortgage brokers jumping from one state to another after their license has been suspended or revoked in a particular state.In the publics' eyes, mortgage brokers hold the biggest blame when it comes...
01/02/2008
Although Countrywide suffered a $1.2 billion third quarter loss, they are reaching out to more than 82,000 of their borrowers to help soften the impact of the mortgage meltdown for 2008.  Countrywide's "home preservation" program is designed to help borrowers with all credit types facing mortgage...
01/02/2008
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Jeremy Redlinger

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Local MN mortgage broker with access to over 40 mortgage lenders to help you find the best MN mortgage for your needs.