Posts Tagged ‘ HARP ’

Real Estate 360 Live With Louis Cammarosano 11/19/12

On Monday November 19, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (15:38)

Ryan and Louis discuss the issues post election of Obama-taxes and the fiscal cliff. Ryan predicts nothing will happen other than taxes on the wealthy and that business will be hurt and there will be plentiful layoffs.

Ryan discusses the Hostess bankruptcy.

Louis notes that we went over the fiscal cliff years ago as the deficit is over $16 trillion and unfunded liabilities including social security and medicare total $84 trillion that can never be paid back. Louis defines the cliff as something congress came up with a year and a half ago which would force the government to automatically cut spending and raise taxes.

What they are doing now to avoid the fiscal cliff is stop the automatic cuts and tax increases from letting the Bush tax cuts expire because spending cuts and tax increases would cause a recession (or cause the politicians to get unelected).

Louis notes they Obama wants to extend the Bush tax cuts for everyone but the “wealthy” and the Republicans want to extend them for everyone. Louis notes that taxing the wealthy will not solve the deficit problem and will only make the envious feel better. Louis notes that taxing the rich just transfers the money to the government and takes that money out of the private sector where it might be better saved, invested or spent.

Ryan predicts that if taxes increases companies won’t grow. Ryan and Louis discuss the impact of Obama care on the businesses.

Louis notes that when small businesses, that create most of the new jobs in the country, are hurt it allows the larger companies to become more powerful and more able to corrupt the government.

Louis notes that many of the government programs to make housing more affordable and to increase home ownership have had the reverse impact.

Louis notes that resources and capital goods are limited in contrast to today’s money that increase incrementally with no effort at all.

More money chasing a fixed amount of goods

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Posted by: Louis Cammarosano on December 7th, 2012 under Louis Cammarosano on Real Estate Radio

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What do Seniors and Soldiers Have in Common?

If someone were to ask you what senior citizens and soldiers have in common, you may be expecting a response that has a comical punch line – the answer, however, is anything but funny. A common thread between seniors and soldiers is that both are groups whose members are increasingly facing foreclosure or default on their home loans.

While there’s no question that foreclosures have increased among all groups, taking a look at the reasons these two groups have been more directly impacted will shed some light on several common misconceptions about personal financial management and the state of the country’s economy. Below are four important lessons to be learned.

Both Spouses Must be Familiar with the Finances
In most domestic arrangements there is a division of labor such that one member of the family manages the finances while the other is responsible for other aspects of family life. Seniors and soldiers are both groups in which one member of the family may suddenly be unavailable, either because of death or deployment, leaving the remaining spouse to manage the finances, a task with which he or she is unfamiliar. In cases such as these, which are increasingly common among both groups, default on the home loan is often inevitable. This problem can be easily alleviated by ensuring that both members of a family or domestic partnership are familiar with the home’s finances, budgets and payment schedules, even if the daily financial affairs aren’t co-managed.

Bigger isn’t Always Better
One common mistake made by both soldiers and senior citizens is that they tend to overspend on their property while erroneously thinking that the loan will be easy to pay off. Seniors are often able to take on loans larger than they should because they’ve established a good credit rating or have existing home equity that they can borrow against.

In contrast, soldiers tend to over-borrow because they have dreams of large homes and they mistakenly rely on the availability of VA guaranteed loans to help offset the cost of the home. The only way to avoid such ‘big eyes’ is to seek advice from a qualified financial planner or mortgage broker before signing the loan, to ascertain whether the loan can be repaid, under normal circumstances, without overly straining the family’s finances.

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Posted by: Guest Contributor on July 31st, 2012 under Financing, Mortgage and Home Loans, Guest Bloggers

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Real Estate Radio With Louis Cammarosano 10/24/11

On Monday October 24, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (13:53)

Louis and Ryan discuss the HomeGain Third Quarter 2011  Survey regarding Obama’s approval rating as cited in the Boston Globe. Louis notes that real estate professionals have soured on Obama. Louis notes that the lack of any meaningful housing recovery, despite numerous Obama signature programs, have caused real estate agents to lose faith in the President. Louis notes that low interest rates and printing money are not the answer. Louis notes that intervention by the government or quasi governmental entities will not provide the necessary change to the economy-only the free market can fix the economy. Ryan notes that there are 20,000 homes that have taken over four years to foreclose. Ryan notes that Obama spent the first part of his administration focusing on healthcare and not on housing. Louis notes that the government caused the housing problem and now they are trying to fix it. Louis notes that the first time home buyer credit was a failure. Louis notes that government intervention creates lopsided favoritism and doesn’t help the housing market. Ryan discusses the new making home afforable refinance plan (HARP).

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Posted by: Louis Cammarosano on November 6th, 2011 under HomeGain, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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