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"As a first-time homebuyer, I was nervous about the entire process. Step by step, Joe made it easy and fun. His expertise in the Columbus real estate market is a tremendous asset. He is highly recommended!" - Nicolette Horan
"I wanted to say thank you again, so much, for all your hard work. I know that you really put a lot of time into this transaction and I really, really appreciate it. I'm so happy I got the house and it all worked out and I just wanted to say thanks again, you did a great job and i really appreciate it. I will put that on the survey when they send it to me.
If there is ever anything I can do for you, please don't hesitate to give me a call. I will refer every single person I know to you. I'm going to go get my dog and we're going to sit on the floor of our new house and have a glass of champaign. Thanks a lot Joe" -- Michael Mamp
Mortgage Bail Out?
December 5th, 2007 categories: Mortgage/Finance
Today, it was reported that a coalition of lenders, loan servicers and investors have reportedly agreed to a plan that would freeze interest rates on some subprime mortgage loans for five years.
Borrowers with loans made between Jan. 1, 2005, through July 30 of this year who face interest rate resets between Jan. 1, 2008, and July 31, 2010, would be eligible for interest rate freeze
An official announcement of the plan’s details is scheduled for Thursday.
Treasury Secretary Henry Paulson said Monday the plan would help homeowners who are current on their payments but cannot afford a higher adjusted rate (see Inman News story).
Debate over the plan has centered around the length of any interest rate freeze, with federal regulators pushing for a seven-year freeze, and the industry holding out for a one- to two-year reprieve. — Inman News
Chris Johnson
December 5th, 2007
the fun part? Most of the defaults are pre-rate raise. THis is just to induce people not to be foreclosed in some nebulous future.