On a totally on unrelated note...

I need a vacation. I would like to take a one month vacation to Bora Bora or Fiji and park myself on a beach....my only worries being what to drink, eat and what palapa to sit under on the beach.

Lenders putting the halt on subprime mortgage loans - ooooh oh

It seems that the trend of lenders giving subprime mortgage loans might be taking a hiatus. Today's financial news reports that delinquencies in late mortgage payments are a 3.5 year high. This is not good for lenders and in general for financial markets.

If you are not familiar with subprime mortgages - they are basically mortgage loans and mortgage refinance loans offered to people with bad credit. With the recent rapidly gained equity in home values, some lenders did not consider these types of loans to be too much of a credit risk so they gave people who had low credit score new home buyer loans. New home purchase subprime loans are the most risky because you are offering a loan to someone who has not proven that they can pay their bills on time.

Subprime refinance loans are less risky because chances are an existing homeowner will want to stay in their home and strive to keep up with their payments. In addition, they have equity in their home. Thus, if you are already a homeowner getting a subprime refinance loan is not as difficult as a new home buyer getting a new home purchase subprime refinance loan.
You can still get a subprime refinance loan with a credit score of 600 and up.

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For mortgage refinance loans, home equity loans, home equity line of credit (HELOC) and debt consolidation loans visit http://www.kstreetloans.com.

Greenspan Versus Bernanke

I haven't updated the blog in about a week or so. Alot has happened since the last update. Alan (the former FED chairman) Greenspan opened his big mouth with the word "recesssion" and the markets came tumbling down and then Ben Bernanke (the current FED chairman) smoothed it over and the market somewhat rebounded. The funny thing is that it rebounded for no apparent good reason since that very day there were economic indicators that the housing market and other financial sectors weren't doing too well.

Go figure.

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Visit www.kstreetloans.com for home refinance loans, debt consolidation loans, home equity loans and HELOC - up to 125% LTV.

Why Rent Versus Buy

I'm doing a short blog today. I found an interesting article about the advantages and disadvantages of renting an apartment or buying a home on http://www.kstreetloans.com.

Here is the article.

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visit http://www.kstreetloans.com for refinance loans, home equity loans, HELOC and debt consolidation loans. Bad credit refinance loans also offered.