Mortgages Made Simple with Rick Gundzik

Thursday, July 24, 2008
Mortgage Payments and Stated Income Loans - July 24, 2008
Will the Housing relief bill help? This week we answer a listener's question whether or not the new housing bill will help him. We also had another listener ask us why he just can't seem to get a loan to buy a house. Mortgages Made Simple logo He has perfect credit, makes good money, and is putting in a big down payment. But he is self employed and his income is seasonal, high in the summer and low in the winter. He is a perfect candidate for a stated income loan. However, those loans do not exist anymore.



If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.

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posted by Pac Res @ 7:14 AM   0 comments
Thursday, July 17, 2008
Indymac, Fannie, Freddie and You - July 17, 2008
This week brought the collapse of Indymac Bank. Their collapse wreaked havoc in the financial markets, but it can have a greater effect on individual depositor's stress levels. This could be witnessed in the unnecessary bank run on Indymac this week. Many people do not realize they should not keep more than $100,000 in any bank. Mortgages Made Simple logo Insurance only covers up to $100,000 in deposits, any amount over that is negotiable to as low as 50 cents on the dollar. But for those who have a smaller amount on deposit, don't worry, you will get every penny back.

We also discuss Fannie Mae and Freddie Mac's current troubles and why they are so important to the housing market.



If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.

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posted by Pac Res @ 7:11 AM   0 comments

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