Posts from ‘August, 2007’

From CNNMoney (August 28):
NEW YORK (CNNMoney.com) — American consumers are defaulting on their credit cards at a sharply higher rate compared to last year, in what could be another consequence of the recent subprime mortgage market crisis, according to a report published Tuesday.
In addition, late payments are also up, cardholders are showing signs they are [...]

“Sex, Money and Power” – this was a new class a professor was thinking of offering in the philosophy department at Whitworth University when I was attending. Being a Christian college, it was quite a departure from mundane courses, so it got a lot of attention.
For some reason sex, money and power is a bad mix. [...]

Shauna Wekherlien just unveiled “The Tax Goddess Blog“, a weblog that talks about all things tax. Shauna is the owner of SWC Business Enterprises, a full service accounting firm in Scottsdale, Arizona. I have actually known Shauna as a tax goddess for a few years now. She also happens to be my personal tax adviser. [...]

If you missed my blogging seminar earlier this month, do not fear. Steve Groves/Executive Conversations, is putting one together tomorrow. This two hour event will cover the fundamentals of blogging.
Steve will also be handing away some real cool goodies too:
By special arrangement, we’ve been able to get every attendee a free sign-up for a real [...]

Many people are confused when it comes to their credit scores. I know I’ve posted a pie chart demonstrating what constitutes the FICO score, but there is so much more to the credit score.  Take the quz below and find out how well you know the system. Answer the questions in the comments section. I will [...]

The Arizona Republic ran a story yesterday on the current state of real estate in Gilbert, Arizona.
This news article did touch on a little bit of tax trivia which a lot of folks may not know. If you end up foreclosing on a home or short selling then the portion of the loan that [...]

With all the talk of doom and gloom in the mortgage industry, I want to remind everyone that the vast majority of people will still be able to obtain a home mortgage if they desire. Contrary to the media frenzy lenders are not turning away people by the droves!
In fact, if you are looking for [...]

I just finished reading “Truth-in-Lending Disclosure Failure Leads to Mortgage becoming “UnSecured”” at The Big Picture. This article sent chills down my spine. The main reason being that if borrowers are successful in detaching the collateral from their mortgages then we are indeed headed for some really bad economic times.
The premise of the post is [...]

You may not realize that, for mortgage qualifying purposes, if you are receiving 1099 income you will be considered self-employed. This is regardless of your ownership stake in the business. So even if you are just a regular employee and are receiving 1099 income you’re treated like the owner. Back in the day (really, just [...]

No more low doc loans, no more exotic option ARM’s,  no more 80/20 loans, no more 100% financing at 580 FICO scores. The list of changes goes on and on. Yesterday, one industry veteran commented that we’re back to where things were twenty years ago. That got me wondering.
So, what was it like back in 1987? Where were [...]