Blog
Posted on Oct 14, 2008 by Mike Geyer |
I am being asked this question every day right now, “Can I even get a loan?” If you read the paper and especially if you watch the news on TV you probably think that getting a mortgage is difficult or impossible right now. Well don’t worry; there is plenty of mortgage money out there. I talked to one of my best lenders a couple of days ago and he told me that he has enough money to make a ...
Tagged: athens real estate, athens homes, athens mortgages, athens georgia, athens georgia mortgages, mortgage money
Bailout Blues and New Opportunities
Posted on Oct 2, 2008 by Mike Geyer |
Wow! What a month it has been. We have seen the end a couple large investment banks that were once almost invincible and we have seen the end of AIG (the huge insurance company)in it's current form. While Congress makes up it's mind about the "Bailout" we are all waiting to see what happens to our ability to borrow money and watching our retirement plans and stock holdings lose money. If t...
Tagged: $700 billion buyout, warren buffett, ge, goldman sachs, real estate opportunity
The Latest on the $700B Bailout
Posted on Sep 23, 2008 by Mike Geyer |
Many questions have emerged since President Bush's proposal to bail out AIG. One of the questions is what will the price tag be to you, the taxpayer? Here's what we know so far. The Federal government would buy up as much as $700 billion of illiquid assets at a deep discount from banks. The Treasury Department would run the program directly. What remains to be seen is how the Treasury Dept...
A Changed Wall Street Hopes for Positive SIgns
Posted on Sep 21, 2008 by Mike Geyer |
Even though the Dow Jones may be where it was a week ago, Wall Street is a completely different place. In a matter of days, Lehman Brothers Holdings went into bankruptcy, Merrill Lynch was snapped up by Bank of America and the insurer AIG was bailed out by the government. And now the government is planning to assume banks' risky assets. Overall, investors are relieved about the intervention b...
Posted on Sep 17, 2008 by Mike Geyer |
Homeowners rushed to take advantage of the drop in interest rates following the government's takeover of Fannie Mae and Freddie Mac. Applications to refinance spiked 88% last week accordng to the Mortgage Bankers Association. Also purchase applications edged up by 5% as well. The average rate for a traditional, 30-year fixed rate mortgage dropped from 6.06% to 5.82%. The average rate for a ...
