December 29th Market Update

I hope everyone had a great Christmas. I know I did. Santa was good to our family this year. I look forward to the new year. Rates are fantastic and many experts are saying now is a good time to take advantage of the current low home prices, and the historically low interest rates.

30 year fixed rate
4.875% @ 1 point ( 5.032% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 5.637% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.

5.5% @ 1 point (5.749% APR)

30 year fixed rate
5% @ 1 point ( 5.132% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 5.637% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
5.5% @ 1 point (5.749% APR)

Today's News:

1. Fed balance sheet totals $2.34 trillion in week of Dec. 17. SOme say the government isn't doing enough, read this and you deciede:


2. 30-year fixed-rate mortgage at 37-year low
Fed actions send mortgage rates tumbling, and refinancers searching


Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. Down Payment Assistance is back!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.

December 16th Market Update

Here is your market update. If you know anyone looking to finance a property, please refer them to me. I feed my family from the referrals from you, don't keep me a secret. I hope to be serving you and the ones you love for years to come.

30 year fixed rate
4.875% @ 1 point ( 5.125% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 6.137% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
5.75% @ 1 point (5.849% APR)

Today's News:

KBW sees home prices bottoming by spring 2009

BOSTON (MarketWatch) -- Keefe, Bruyette & Woods on Tuesday forecast price depreciation of roughly 5% on new U.S. homes and losses of between 5% and 10% on existing homes for 2009, but expects prices to bottom by spring. "While we expect the current environment of limited liquidity and continued credit deterioration to persist into 2009, we expect both home prices and asset prices to bottom in 2009," KBW analysts wrote in a report. "We expect credit losses to stabilize once home prices stabilize.

Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. We have several 100% LTV Government programs!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.

Dec 10th Update

30 year fixed rate
5.375% @ 1 point ( 5.496% APR )

30 year fixed FHA rate:
6% @ 1 point ( 6.137% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
5.75% @ 1 point (5.849% APR)

Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. Access Program; an FHA loan with 0% down!! That is right
Down Payment Assistance is back!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.



PRESS RELEASE
ForeclosureS.com: Housing Markets Will Roar Back in 2009
U.S. Foreclosures Index Paints Bright Picture

Last update: 6:00 a.m. EST Dec. 9, 2008
SACRAMENTO, Calif., Dec 09, 2008 (BUSINESS WIRE) -- The nation's foreclosure hemorrhage has finally slowed and 2009 should see a significant decline in foreclosures as buyers return, pushing home prices up and fueling a real estate recovery, according to the 2009 Outlook from ForeclosureS.com, the leading real estate and property information and education specialists.
"Recovery is underway. Affordable is back in the housing market," says Alexis McGee, real estate expert, educator, and president of ForeclosureS.com. "In 2009, housing will not only recover, but we'll see buyers leap into this market in droves, depleting our housing oversupply, and actually put higher price pressures on the market."
"With 4.5% fixed mortgage rates, housing prices lower than they were 'pre-housing bubble', commodity prices lower, tax credits available for homebuyers, and the government eager to stimulate our economy, for the first time in years I can see prices rising again in 2009," adds McGee. "This is a great time to buy properties for investors -- to buy properties at wholesale prices below today's already low prices -- rent them out for positive cash flow and then sell them for big profits in late 2009 once price appreciation kicks in."
The latest U.S. Foreclosure Index by ForeclosureS.com shows a slight drop from 84,534 to 84,291 in the number of properties repossessed by lenders following foreclosure last month over October. These are REOs or lender-owned real estate. But that's off nearly 21% from September's 106,415 REO filings. (Year to date 12.6 of every 1,000 households nationwide have been lost to foreclosure.)
"Certainly some of the drop reflects growing results of government and private efforts to keep homeowners in their homes," says McGee. "But the recovery takes shape when you factor in other things like what the National Association of Realtors calls 'solid' gains from a year ago in existing home sales in some key areas, and the fact that many of the same areas are seeing dropping home prices. Fewer foreclosure actions were initiated in the last quarter, too, according to the latest Mortgage Delinquency Survey from the Mortgage Bankers Association," McGee adds.
"California is a great example of what's happening now and what lies ahead for the housing sector. Long a leader in the subprime mortgage mess and rising numbers of foreclosures, the state's foreclosures have slowed significantly," says McGee.
The latest U.S. Foreclosure Index numbers show November REO filings in the state down to 15,978 in November, down 6.55% from October and off nearly 50% from September. Home prices there have come down, too, as much as 39.4% from the third quarter from a year ago in some areas like Riverside-San Bernardino-Ontario, according to National Association of Realtors numbers. That's left many homeowners that bought their homes at high price points with upside down mortgages--they owe more than the value of the home. But it's also made homes more affordable for plenty of other people. Solid and in many cases rising existing homes sales support that, adds McGee.
In November, another perennial leader in foreclosures, Arizona, saw its REOs and pre-foreclosure filings drop (down 5.19% and 5% respectively), according to U.S. Foreclosure Index numbers.
The pre-foreclosure picture when averaged nationally isn't quite as bright. Pre-foreclosures include notice of mortgage default and/or foreclosure auction. Amid all the negative economic news across the nation, pre-foreclosures for November were up 5.57% from October with 27.1 of every 1,000 households across the country facing some kind of foreclosure action (177,254 vs. 167,906 filings in October). But that's still down nearly 2% and more than 7.5% from March's high, according to U.S. Foreclosure Index analysis.
"Pre-foreclosure numbers likely climb in early 2009 (albeit at a much slower rate than in 2008)," says McGee. "Too many homeowners already are just too overextended and likely won't seek help to work out their delinquent mortgages until after a pre-foreclosure filing against their property. That filing, it seems, is the wake-up call for many to get the help they need and sell," McGee adds.
"Potential homebuyers and investors on the other hand, will find the bargains growing in 2009," says McGee. "As the year progresses more bright spots will emerge, too, both in terms of foreclosure numbers and housing markets as efforts to work with strapped homeowners really begin to take root."
"I wish my crystal ball could pinpoint everything that's going to happen with housing markets in the next 12 months, but there are just too many variables. What I can tell, though, is that hardest hit housing markets have already hit bottom and others will follow in 2009. Third-quarter National Association of Realtor numbers actually show existing home sales picking up in about 20 percent of the areas studied. And, given the uncertainty and volatility of the stock market combined with all time low interest rates, extremely affordable low priced homes, and all the choices out there, 2009 is an excellent time to buy real estate. Properties, especially foreclosed ones, will be highly discounted, lenders are motivated to work with buyers, and the opportunities are abound. The bottom line to keep in mind: What goes down absolutely positively will go back up again.
"The return of solid housing markets is an important part of restoring stability to financial markets. The market will return when mortgage rates and home prices are down, and that's exactly what is happening now in the hardest-hit areas of the country," adds McGee.
ForeclosureS.com has been the professional's source for accurate foreclosure property information for more than 20 years. The company bases its analysis on the number of formal notices filed against a property during the foreclosure process. That can include notice of default, notice of foreclosure auction, and/or notice of REO (lender-owned real estate that occurs after a foreclosed property fails to sell at auction and reverts back to the lender). Pre-foreclosure filings are initial notices that all do not end up as foreclosure.
For more Foreclosure Statistics and Information for your area, as well as expert commentary from Alexis McGee, president of ForeclosureS.com, please contact Sofia Gutierrez, ForeclosureS.com

Dec 9th Market Update

Good morning here is your market update. If you know anyone looking to finance a property, please refer them to me. I feed my family from the referrals from you, don't keep me a secret. I hope to be serving you and the ones you love for years to come.


30 year fixed rate
5.375% @ 1 point ( 5.496% APR )

30 year fixed FHA rate:
6% @ 1 point ( 6.137% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
5.75% @ 1 point (5.849% APR)
Pending home sales index down 0.7% in October

By Ruth Mantell

Last update: 10:00 a.m. EST Dec. 9, 2008
WASHINGTON (MarketWatch) -- In a sign that further weakening may be in store for the U.S. housing market, an index of sales contracts on previously owned U.S. homes fell 0.7% in October from the prior month, the National Association of Realtors reported Tuesday. The index, which is considered a leading indicator of existing home sales, was down 1% from the prior year. Pending home sales in October were mixed regionally, with declines of 8.7% in the West, and 4.3% in the Midwest. Meanwhile, there were gains of 7.8% in the South, and 0.6% in the Northeast. The September pending home sales index was revised to a decline of 4.3% from a prior estimate of a 4.6% drop.


Niche list:


1. FHA Refinance!!! Equity does not matter!!!
2. Conventional
3. Government
4. FHA, VA, PERS, STERS,
5. Access Program; an FHA loan with 0% down!! That is right
Down Payment Assistance is back!!!
6. Incredible pricing on jumbo's to 2 million
7. Cash out refinancing with one day off the mls
8. Extremely lenient FHA underwriting. Worried about credit
issues? I can help get around them
9. 75% Canadian loans
10. Stated loans to 70%LTV
11. Loan Modifications for those who are trying to save there
home
12. Credit repair; if you need help with your credit I found a
great company that can help!!!!!
13. HELOC's need an equity line? I can help.


I appreciate your business. Please don't keep me a secret. I feed my family off of the referrals I receive from you. I look forward to serving you and the ones you love for years to come.

Sincerely,


Hugh Van Horn
Branch Manager
TMG Financial Services Inc.
(951) 897-4844 hughvh@themortgageguild.com
www.hughvanhorn.blogspot.com

12/04/08 Market Update

30 year fixed rate
5% @ 1 point ( 5.132% APR )

30 year fixed FHA rate:
5.5% @ 1 point ( 5.637% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80 call for more details.
5.5% @ 1 point (5.749% APR)

12/03/08 Market update

30 year fixed rate
5.375% @ 1 point ( 5.562% APR )
30 year fixed FHA rate:
5.875% @ 1 point ( 6.007% APR )
Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.

5.875% @ 1 point (6.063% APR)
Today's News

FDIC's Bair: Hopeful for her mortgage plan
Encouraged that Obama will support $24.4-billion foreclosure mitigation plan

30 year fixed rate 5.375% @ 1 point ( 5.562% APR ),

30 year fixed FHA rate: 5.875% @ 1 point ( 6.007% APR ),

Jumbo rate: Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details. 5.875% @ 1 point (6.063% APR)

Nov 26 market update

Conventional 30 year fixed rates:
5.25% (5.42%apr)

30 year fixed FHA rates:
5.5% (5.686%apr)

Low prices boost valley home sales
Foreclosure sales drive valley's third quarter

http://www.mydesert.com/article/20081120/BUSINESS04/811200325/1043/business04

Nov 24th Market update

30 year fixed rate
5.875% @ 1 point ( 6.066% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )
Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.

6.125% @ 1 point (6.193% APR)

11/19/08 Market Update

30 year fixed rate
5.875% @ 1 point ( 6.066% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )
Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.

6.125% @ 1 point (6.193% APR)
Niches:

Yesterday I went to the National Association of Mortgage Brokers Western Conference I found some great programs here is just some of them:

1. Awesome Conventional Pricing
2. Awesome Government Pricing
3. FHA, VA, PERS, STERS,
4. Access Program; an FHA loan with 0% down!! That is right Down Payment Assistance is back!!!
5. Incredible pricing on jumbo's to 2 million
6. Cash out refinancing with one day off the mls
7. Extremely lenient FHA underwriting. Worried about credit issues? I can help get around them
8. 75% Canadian loans
9. Stated loans to 70%LTV
10. Loan Modifications for those who are trying to save there home
11. Credit repair; if you need help with your credit I found a great company that can help!!!!!
12. HELOC's need an equity line? I can help.
Today's News


U.S. home builders reduced their starts of new homes by 4.5% in October, driving new construction to the lowest level since just after World War II, the Commerce Department estimated Wednesday.

click here for the full story

11/17/08 Market Update

30 year fixed rate
5.875% @ 1 point ( 6.066% APR )

30 year fixed FHA rate:
6.25% @ 1 point ( 6.447% APR )

Jumbo rate:
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.

6.125% @ 1 point (6.193% APR)

Down Payment Assistance is Back!!!!!

That's right Access program is back!!! It is a second at 8% or 2% above the first note rate. The second can be used to cover the down payment and/or closing costs. Up to 105% CLTV. Call for more details.

Today's News


Fannie Mae said Monday it plans to reopen its three-year and five-year notes, selling $1 billion of each maturity. Fannie Mae currently has $4 billion in five-year notes and $3.5 billion in three-year notes outstanding. Both issues are slated to price Monday for settlement Wednesday.



I appreciate your business. Please don't keep me a secret. I feed my family off of the referrals I receive from you. I look forward to serving you and the ones you love for years to come

Other Services

If you are looking for other proffessional services, please check out the commits below. If you have a business and would like to promote it leave a commit below. I like to support other proffessionals I meet in the comunity.

Market Update 11/14/08

30 year fixed rate
6% @ 1 point ( 6.205% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.4 6% APR )
Today's News


Stocks fall as retail sales signal consumer distress

U.S. stocks on Friday fell for a fourth day this week, retreating after the prior session's rally, with retail sales declining a record amount in October, J.C. Penney Co. offering an outlook miss and Nokia Inc. warning of falling handset sales.

11/13/08 Market Update

30 year fixed rate
6% @ 1 point ( 6.205% APR )
30 year fixed FHA rate:
6.25% @ 1 point ( 6.46% APR )
Today's News


Mortgage applications up 11.9% last week: MBA

Consumers took advantage of lower mortgage rates last week, with the pace of mortgage applications filed rising a seasonally adjusted 11.9% compared with the prior week, the Mortgage Bankers Association said Thursday.

11/12/08 Market Update

1 min market update for 11/11/08

11/10/08 1 min market update

As of right now at 7:47 am, the market is slightly up. There is no significant news due to be released until Thursday with the Federal Budget, then Friday with retail sales to be reported.

In the news this morning the US auto makers are trying to get in on the bail out plan, and the government has decided it is a good idea to put even more money into AIG. It seems we are back to bread lines, only it is big business in line for billions instead of the working class in line for basic necessities. We will see how the government interference plays out in the market. It has proven to make Wall Street very volatile so far.

As far as rates go they are very good right now. If you are not locked and you are closing your loan within the next 15 days you may want to lock, with the market being slightly up right now, just in case the market swings. However there is no real change in the performance of US companies. I would float if you are not faint of heart, and are willing to take a risk. Friday will tell if consumers are spending again buying American products. If that report comes in above expectations the market will improve and rates will go up, if it comes in low (which I feel is very likely) rates will get better.

Right now investors do not want to put there money in stocks, and investing in real estate loans is not that appealing either. Rates change based on what Wall Street is willing to pay for your loan. I'll keep you updated through the week as things change.


30 year fixed rate
5.875% @ 1 point ( 6.084% APR )
30 year fixed FHA rate:
6.375% @ 1 point ( 6.593% APR )
Today's News

AIG, Fannie Mae, General Motors, Circuit City in focus

U.S. stock market futures climbed, with commodities and their extractors getting a lift from a China stimulus package worth over $500 billion, as American International Group received a revamped bailout package.

Fannie Mae (FNM:FNM 0.75, +0.01, +1.6%) said its third-quarter loss widened to $29 billion, or $13 a share in its fiscal third quarter ending Sept. 30, from a loss of $1.52 billion, or $1.56 a share in the year-ago period.

market update 11/08/08

Today’s market opinion:

The market finished up slightly on Friday. This is what we call “a dead cat bounce”. The market data for the week is not positive. The unemployment rate is at 6.5%, jobless claims are at 481,000 very high. The market can not return until we see some of these important indices make a positive change. Next week we have a few important reports ,including the retail sales report, which are likely to come in low and keep rates down for at least this next week. I would recommend floating for now, but be prepared to lock in a rate as we are in a volatile time, where anything can “Change”.

Today’s 30 year fixed rate:

5.875% @ 1 point (6.084% APR)

Today’s 30 year fixed FHA rate:

6.375% @ 1 point (6.593% APR)

Today’s News:

Conforming loan limit to stay at $417,000 next year

Despite the slide in housing prices in most parts of the country, the conforming home loan limit will remain at $417,000 next year for most of the country, the government said Friday.

http://www.marketwatch.com/news/story/conforming-mortgage-limit-stay-417000/story.aspx?guid=%7B2B8E8866%2D6028%2D4F24%2DB31A%2DFEDF41B0C3D8%7D

Motivation for the day:

Change is Good

http://www.changeisgoodmovie.com

11/06/08-Market update

30 year fixed rates for the day:

6.375% @ 0 points ( 6.193% APR )



30 year fixed FHA rate for the day:

6.5% @ 1 point ( 6.623% APR )

News for the day: 'Underwater' Need Not Mean Foreclosure’
Why Most People Who Owe More Than a Property's Worth Will Still Keep Their Homes http://online.wsj.com/article/SB122583941535198573.html?mod=googlenews_wsj
Motivation for the day: The Richest Man in Town is a true story that captures the important things in life in an unforgettable way. It is beautifully written and will make you laugh, make you cry, but most importantly, will make you reflect on what life is about.

http://www.richestmanmovie.com

Free Tool of the day: Skype is a great way to communicate. It is a free web conference tool. Sign up and include me as your friend then we can talk for free on see each other. www.skype.com my username: hughvanhorn

Real Estate in La Quinta

What: Larry Pughe Invites you to a free Seminar on how the recent government bail out will help La Quinta residents.

When: Oct 23rd 7-7:30 & Oct 25th 10-10:30 am

Where: The Thane Building 78140 Calle Tampico, La Quinta, CA 92253

La Quinta Real Estate: Paulson says banks will be lending again.

Paulson tells banks to lend new government capital

By Greg Morcroft, MarketWatch
Last update: 1:10 p.m. EDT Oct. 20, 2008Comments: 192NEW YORK (MarketWatch) -- Treasury Secretary Henry Paulson said Monday that banks receiving investments from the government will be expected to loan out the money to help revive liquidity in the credit market.
The news came as the Treasury and other bank regulators released technical details of their plan to purchase up to $250 billion in preferred stock in healthy U.S. financial institutions.
"Our purpose is to increase confidence in our banks and increase the confidence of our banks, so that they will deploy, not hoard, their capital. And we expect them to do so, as increased confidence will lead to increased lending," Paulson said in remarks to reporters.
"This increased lending will benefit the U.S. economy and the American people," Paulson said.
All financial institutions will be able to submit a single application form to their primary banking supervisor.
Paulson said nine major banks have agreed to participate, and "we have received indications of interest from a broad group of banks of all sizes." The program is an investment, not an expenditure, he said.
"There is no reason to expect this program will cost taxpayers anything," Paulson said.
The application process appears designed for quick execution and looks to avoid classic government bureaucratic delays.
There is a single application form for all institutions registering to participate in the plan.
It equires the applying firm to submit basic information like the amount of the perpetual preferred stock it wants to sell, as well as information regarding the amount of authorized but unissued preferred stock and common stock it has available for sale.
The deadline for application is Nov. 14. The Treasury said that it will process the applications as fast as possible but that times would vary based on several factors about individual institutions.
The Treasury also said it will announce approvals under the plan but will not disclose the names of any banks in which it declines to invest.
Moreover, the Treasury said that firms will be able to count as Tier 1 capital.
Greg Morcroft is MarketWatch's financial editor in New York.

If you are on the fence on if you should buy or not. Read the article below. Rates are on the rise.


MORTGAGES

30-year mortgage at 8-week high

Biggest weekly jump in 21 years sends benchmark loan to 6.46%

By Amy Hoak, MarketWatch

Last update: 10:36 a.m. EDT Oct. 16, 2008

Comments: 4

CHICAGO (MarketWatch) -- Average rates on fixed-rate mortgages shot up this week, according to Freddie Mac's survey released Thursday.

The 30-year fixed-rate mortgage averaged 6.46% nationally for the week ending Oct. 16, up more than half a percentage point from last week's 5.94% average. This was the largest weekly increase since the week ending April 17, 1987, when the mortgage rate went up 0.84 percentage point, according to Freddie Mac. The mortgage averaged 6.40% a year ago.

"Interest rates for 30-year fixed-rate mortgages rose this week to an 8-week high," said Frank Nothaft, Freddie Mac chief economist, in a news release.

Rates on 15-year fixed-rate mortgages also shot up, averaging 6.14% this week, up from last week's 5.63%. The mortgage averaged 6.08% a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages also rose, averaging 6.14% this week, up from last week's 5.90%. The ARM averaged 6.11% a year ago.

Meanwhile, 1-year Treasury-indexed ARMs barely moved, averaging 5.16% this week, up from last week's 5.15%. The ARM averaged 5.76% a year ago.

"ARM rates, which tend to be based on shorter-term benchmarks, showed smaller gains in part due to the Federal Reserve's Oct. 8 intermeeting rate cut in the overnight lending rate," Nothaft said.

To obtain the rates, all mortgages in the survey required payment of an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest.

"Recent economic reports suggest the economy is still slowing," Nothaft said in his comments. "For instance, retail sales fell, for the third consecutive month, by 1.2% in September. In addition, in its latest Beige Book, released [Wednesday], the Federal Reserve indicated that economic activity weakened in September across all 12 Federal Reserve districts and that several districts also noted that their contacts had become more pessimistic about the economic outlook."

Recovery Bill

I think that the National Association of Realtors has the best information on the Government Bailout, and how you can use it to take advantage of this real estate market. Please visit the links below:

Click here to learn more about HR 3221 The Housing and Economic Recovery Act


Click here to learn more about The Economic Stabilization Act

Making Money is Child's play

I often have extravagant Ideas of starting some weird company. I am an entrepreneur to the max. The only problem I have is I have a family I have to support. I do not have the luxury to spend time on idea’s that may not, and probably won’t, work.

Who does have time, and crazy idea’s that might just be able to start the next fortune 500 company? I have an answer that might surprise you. KIDS!!!!!

My friend Bob once told me that he thinks one of the reasons for our poor work ethic in society, and that we are importing goods, and jobs from foreign countries more than were exporting is because kids aren't allowed to work anymore. He thinks that we can get cheaper labor from teenagers. If we did this we could stop hiring illegals to do the jobs grown up Americans won’t do, and maybe can’t do, because it doesn’t pay enough to support a family. If we let our children earn some money, learn what it means to work hard by being employed by responsible American companies, we can keep a lot of our money that is going over seas right here in America.

We should allow our kids to be entrepreneurs, work in restaurant kitchens cleaning dishes, let them work on farms picking the crop, or clean houses, or baby sit. There is nothing wrong with a little hard work, and there are lots of safe jobs kids could do. Besides working and being a contributing member of society is a much better lesson than can be learned playing video games.

If you don’t agree with me read the article below it may change your mind.

Making Money Is Child's Play
By Dallas Crilley

Calling all kids! It's time to put down the video games, stop chatting with your friends on the computer and do something more meaningful.

As a 15-year old boy, I can tell you that I'm seriously worried about my generation. It's different than any other in history -- most of my friends expect their parents to do everything for them. Their idea of being motivated is getting up the energy to ask mom or dad for money! It's ridiculous, and if things don't change this country is in serious trouble.

Think about it. Most grown-ups are in credit card debt now. Just imagine how bad it's going to be when my generation gets its hands on a few charge cards. I'm a part of the instant gratification generation, and it's only going to get worse.

We have to teach children the value of a dollar and help them understand that making money is fun. Kids are born entrepreneurs. Just about everyone had a babysitting job, ran a lemonade stand or sold cookies door to door. However, instead of encouraging the “kidpreneur” in their child, many parents send their kids to the mall to get a job in a store and suddenly work becomes a drag.

I've spent the last year studying teenage entrepreneurs and I've discovered a pattern. The ones who are successful are the ones who turned their passions into profits. They didn't start their business looking to make money. They did what they loved and the money followed.

Computer legend Michael Dell is a great example. According to his official biography, he was just 12 years old when he first started delivering newspapers. He soon discovered that the real money wasn't in delivering papers, but in selling subscriptions. He noticed that the people most likely to buy were either newlyweds or couples just moving in.

He thought to himself, “There must be a place where this information is stored.” He decided to jump on his bike and pedal down to the courthouse where he found the office of marriage licenses and real estate transactions. He started copying down names and addresses and then pedaled over to their house to close the sale. Soon it was no longer worth his time to do the research, so he started hiring other little boys to bike down to the courthouse and bring back the information. According to his bio, Michael Dell was making more than his principal by the time he graduated high school.

Here are the lessons I learned from Michael Dell and dozens of other teenage tycoons:

FOLLOW YOUR HEART

Parents should ask their children what they would do with their lives if money didn't matter. The answer is usually very revealing. If the child says they would work with pets, perhaps they would be interested in starting a pet sitting or dog walking business. If they tell you they would play video games, maybe they could start a business tutoring younger kids on how to take their game to the next level.

ENCOURAGE THE KIDPRENEUR IN YOUR CHILD

Don't discount your child's idea. Grown-ups are great at telling children why something won't work. I know that you're trying to keep your child from failing, but remember, childhood is when dreams need to be nurtured. I've always believed that for every person who is out there saying something can't be done, there's someone else who's already out there doing it.

GROW YOUR WINGS

Children will create businesses that don't work out, and that's okay; that's where the learning happens. You always learn more from the failures in life than the successes. Just encourage your child to jump from the nest and trust that they will build their wings on the way down.

Now the question is, what are you going to do with this information? We suffer from the same vitamin deficiency: Vitamin A—Action. If you want to really help your child, you'll love them enough to encourage them to go for it. Who knows? You may discover your child is born to do business and if you're lucky, they'll be able to take their passion and sell like Dell.

Dallas Crilley is a 15-year old kidpreneur from Dallas. He's a much sought after motivational speaker and the author of Kidpreneur—Genius Ways for Kids to Pay Their Way Through College. It's available at bookstores or www.kidpreneurclub.com

THE MORTGAGE MARKET GUIDE - CNBC Segment

THE MORTGAGE MARKET GUiDE - CNBC Segment

This is a must watch. Barry does it again. Barry Habib is the guru right now for forecasting rates and market information. He is regularly seen on Fox News and on CNBC. How could I not post what he has to say. If you are wondering what is going on in the mortgage market, please come to this site. I always post the most important news about housing.

june 16th, 2008 1 Min Market update