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in Real Estate
When a buyer has a poor credit history or carries too much debt, they are considered a "subprime" borrower. This was a huge part of what got us into trouble in 2007 and 2008. Well, subprime lending is back, but is it something to worry about in its current form?
in Real Estate
Just one more tidbit of proof that folks in the financial/political world seem determined to never learn a lesson from history, these folks are calling for subprime lending! Again!
Taking the latest real estate news, information and stats and making it usefull for buyers, sellers and investors. No matter what your interest in real estate or real estate news might be, this show will cover the biggest issues facing real estate today.
Your host, Robert Whitelaw, a licensed real estate broker in Morgan Hill, California, will guide you through all the latest information on loan rates, foreclosures, short sales and more. He will also give you insights into the purchase process that can help you navigate the waters of a real estate transaction easier.
So tune in live and join the show with your real estate related questions!
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As usual the numbers don't lie. Gordon T. Long and I predicted over a year ago that the Great News coming out of Detroit was more about easy credit than about solid fundamentals. Fast forward a year and now the truth is beginning to become obvious. Auto leasing is way up and the supply of cars about to come off-lease is going sky high, thus driving used and new car prices down. Around the globe auto makers are going to take a major hit. From China, to Germany, to Mexico, to the good old USofA, the story is the same. Markets artificially goosed up by easy credit. But the day of reckoning is getting closer.
The housing crisis began a trend of higher cost subprime mortgages that average homeowners couldn't afford. But did a lack of understanding of the creative mortgage terms boil down to fundamental literacy in basic math? Dr. Kris Gerardi, an economist at the Federal Reserve Bank of Atlanta thinks so. Join us on the show as Gerardi explains what simple math has to do with financial literacy and homeownership. Software developer and financial literacy advocate John Beneventi will also join the conversation.
HR1 A UK report from 1976 argues that sexual molestation doesn't harm children as young as 10 if it's consensual. They've been lobbying for the age of consent to be reduced for nearly 40 years.
Fmr Congressman Barney Frank tells Bill O'Reilly that the housing market couldn't collapse again because of all the regulations. I hope his crystal ball is right!
Subprime loans are back! Will we EVER learn?
Hr2 Is another real estate bubble building?
San Francisco demands Catholic schools stop teaching Catholic doctrine. Hello... they're PRIVATE schools. You don't have to go there if you don't like their teaching. Faculty wants morality clause removed from handbook.
Man shows the world how to out a cheating wife. Surprise!
Hr3 University professor says God is a white racist. I wish I were kidding. She must be reading a different Bible than the one I read.
Rapper Azalea Banks is exactly the definition of a racist based on her recent Playboy interview. Un-American and uneducated rant shows EXACTLY why we need to teach REAL history to our students.
Jared Anderson, Managing Editor of Breaking Energy asks for documents to explain where missing nuclear exports are. Did you know we're exporting highly enriched nuclear materials to other countries? Oh boy!
Joe reads listener emails and comments.
Have you had your healthy dose of reality lately?
Adam Shapiro Fox of Business comments on his shift in Chicago. He said he likes to cover the automobile market. Bubba asks Adam about the new subprime loans in the car market, he wonders if it could be a problem down the road. Adam believes that it could be. People are taking on more debt than they should and it could create problems.
Adam and Bubba discuss the collateralized debt market, is it dangerous? Adam takes a position that it only dangerous if the banks misrepresent the value of the loans. He explains that they can take a ten percent loss level and still make money. However if they put that money into collateralized loans they have no risk. The problem occurs when the value of the collateral becomes overstated and the pools don’t perform. Analysts
Bubba states they he is concerned analysts talk up their position. He cites Citicorp and their call of $20 Oil. Adam agrees that banks can cause trouble. He believes the problem is that they can change their mind at anytime and so they have no risk by making a call they probably believe has a chance but is a real long shot. Bubba states that they always upgrade at the top and downgrade at the bottom.
Bubba asks Adam about the problems he sees with today’s society. Adam believes that society needs to educate youth and make sure the elderly are taken care of. Adam comments on the problems with underfunded government pensions and that they are the financial Elephant in the room. Adam and Bubba conclude the interview by raising their points about the Federal Reserve and interest rate policies.
in Real Estate
Ron Siegel of Anaheim Hills CA, Dustin Reilich of San Diego CA and Melinda Johnson of Anaheim Hills CA discuss current events, financial markets, politics, and even poking fun at the rest of the media in a live radio broadcast from San Bernardino CA on NBC Talk Radio.
Ron, Dustin and Melinda will discuss: Two Graphs that Scream: List Your Home Today; Lenders step up financing to subprime borrowers; Things to Know before your Become A Landlord; Mortgage Minute; Your Credit Matters; Real Time Real Estate; Word on Wealth; The SLT will Provide a Complementary Real Estate Action Plan (R.E.A.P.) Semi-Annually, and so much more.
Ron Siegel, consumer advocate and mortgage lender, discusses anything that affects the roof over your head, your bank account or other items that will benefit you / your family.
Reach Ron at
· Twitter: @RonSiegel
Dan Stecich states that his is optimistic but sees a pull back at some point. Bubba bemoans the lack of volatility. Dan says that he sees growth even though some of them are service industry jobs. Bubba uses some math to say why he sees no growth. Dan counters that he does see some job growth. Bubba talks about the problems in the subprime car loan industry. Dan counters that he doesn’t see a problem in the subprime car loans.
Bubba states that he believes that the consumer has not benefited from low Oil prices, as much as producers have been hurt by the drop. Dan agrees with him. Bubba talks about the cost of education and Dan also agrees. Dan says that community college is a good alternative to get kids started. Bubba and Dan agree that that higher education costs need restructuring.
Bubba and Dan talk about how to manage a portfolio. Bubba talks about the difference between investors and traders. Dan talks about how the media affects investing decisions. Bubba and Dan talk about the problems of overleveraging in any market and how you must keep your sights on the long run. Bubba comments on how the Fed continues to do the tow steps. Dan maintains that the market should dictate how the Fed reacts and not the data.
Bubba and Dan talks about the Citi call on $20 Oil. Dan criticizes the analyst about the prediction on Oil he believes he is a talking up his position. Bubba expresses his opinion about how the Dodd-Frank regulations could hurt Banks by a rising U.S. dollar. Dan disagrees, he maintains the U.S, banking system is strong and it may hurt the stock price but that it will not threaten the banking system.
Bubba talks about how the NASDAQ continues to rally. Badger comments that Apple is now so big it almost runs the index. Badger comments that the NASDAQ is much different now than the when it collapsed in 2000. Bubba says that he agrees that earns are building this bull market is and not stock speculation. Both agree at the top “this time won’t be different”.
Badger comments on the current state of solar power. Badger makes remarks about Tesla Motor Co. , and their ability to keep their cars running for an extensive period of time without recharging. Badger comments about Tesla’s poor sales performance in China. He states that a big problem there was the lack of charging stations. Bubba comments that Oil is here to stay. Bubba talks about energy companies looking for green replacements.
Bubba brings up the topic of the Fed minutes. Bubba comments on the changing environment in the interest rate market. Badger remarks how global rates are now “racing to the bottom” and The U.S. has the highest rates in the world. Given this scenario and little inflation why raise rates at all? Bubba asks what a possible side effect of raising rates could be. Badger replies that it could make the dollar even stronger and that could result in a loss of exports.
Bubba comments that subprime lending is coming back and this time it is in the car and personal loan market. Badger comments on the problem of extended payment cycles. Bubba thinks that the prevalence of easy money with no collateral could be an issue. Bubba states that any change in the employment rate could cause major problems in the credit market again.
Slow Joe escapes the White House attic again; Democrats building weak anti-Walker narrative; Overhaul of No Child Left Behind more of a refurbishment; As the world "boils," Niagra Falls freezes - solid; A million ObamaCare conscripts given incorrect tax information; Obama Regime quietly & completely reneges on last year's VA reforms; Eric Holder couldn't scalp Darren Wilson, so he's going after the Ferguson PD on his way out the DOJ door; Praise homosexuality says schools, Equal Protection Clause says so; Straight-Men: Alabama's Last Stand; "Gender fluidity" is semantical stupidity; Subprime consumer debt soars to 7-year high; FCC Commissioner blows whistle on Obama’s illegal Internet takeover; Russia's geopolitical positioning continues; Islamic terror strikes Denmark, France (again) as resident Jews start leaving for Israel; Obama trying to turn Israel into 21st-century Czechoslavakia; ISIS beheads 21 Egyptian Coptic Christians as part of invasion of Libya, triggering Egyptian retaliatory airstrikes, while capturing al-Baghdadi in Western Iraq, trapping 300 Marines at al-Asad Air Base; and while ISIS threatens invasion of Europe, harvests "infidel" organs and engages in anti-"infidel" cannibalism. Barack Obama's global "Stand With Mohammed" conference steals the show.
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