I’ve talked to many people who were surprised by the amount of interest they were paying out on their loans. These ranged from student loans to house mortgages. It’s not very obvious how much total interest you’ll be paying when you first get the loan. That’s where an amortization schedule will come in handy. Let’s [...]

ForeclosureRadar January 2010 Foreclosure Report – Video with Sean O’Toole

From The Los Angeles Times Many borrowers in default stay put as lenders delay evictions Throughout the country, people continue to default on their home loans — but lenders have backed off on forced evictions, allowing many to remain in their homes, essentially rent-free. Several factors are driving the trend, industry experts say, including government [...]

Yikes. From the Fannie Mae Press Release: Fannie Mae (FNM/NYSE) reported a net loss of $15.2 billion in the fourth quarter of 2009, compared with a net loss of $18.9 billion in the third quarter of 2009. … For the full year of 2009, Fannie Mae reported a net loss of $72.0 billion, compared with [...]

Freddie’s On Crack – A Cautionary Tale It was a cold winter’s day, more than 20 below, When Freddie first saw that his balance was low. Beg, borrow & steal, he tried all the old tricks, But this time was different, no one would help him get his kicks. So he dug in his pockets, but [...]