St Louis Loans and Principal Loan Reduction: Housing Programs Hurt Economy

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St Louis Mortgage Refinancing and Loan Reduction News: Greenspan Says Stimulus and Housing Programs Hurt Recovery
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Consultant

Former Federal Reserve Chairman Alan Greenspan said in February that massive government intervention to save the economy is to blame for the lagging recovery.

Greenspan argued for less government intervention to get the recovery rolling and businesses

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St Louis Home Loans and Mortgage Refinancing: Huge Tax Breaks For GM

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St Louis Finance and Loan Modification News: General Motors Gets Sweetheart Tax Break
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction

 The United States government is giving a sweetheart deal to General Motors worth approximately $14 billion in tax revenue.

The company posted their first profitable year since 2004 according to St Louis finance experts.

But GM won't have to worry about being hit with a big tax bill on earnings because billions in previous

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St Louis Refinancing and Home Loan Mortgage: 1 In 4 Get Loan Modification

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St Louis Mortgage Refinancing and Mortgage Lending News: Only 1 In 4 Get Mortgage Relief
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

As HAMP slowly moves ahead, only one in four of the 2.7 million homeowners who sought to participate in the Obama administration's signature mortgage assistance program have succeeded in getting their monthly payments reduced.

The rest failed to qualify for the program or were disqualified after they were initially accepted into the program, according to an analysis by the Wall Street Journal of data on applicants to the program newly released by the Treasury Department.

In all, about 680,000 homeowners who applied for the Home Affordable Modification Program, or HAMP, had received permanent modifications of their loans and were making timely payments or were still in the trial phase as of December 2010 according to St Louis home loan experts.

Almost 6.7 million U.S. homes were lost to foreclosure, short sales or turned back to lenders between

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St Louis Lending and Mortgage Refinancing Loan: ARMs Are Definitely Back

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St Louis Finance Lending and Mortgage Loan News: Adjustable Rate Mortgages Are Back
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

After accounting for nearly 70 percent of all mortgages issued during the boom, adjustable rate mortgages (ARMs) vanished during the bust, totaling just 3 percent of the market in 2009.

Now they make up 5 percent of all mortgages issued, and Freddie Mac predicts 10 percent by December according to St Louis lending experts.

Behind the comeback is a simple fact:

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St Louis Home Mortgage and Loan Reduction: US Postal Service Feeling The Crunch

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St Louis Finance and Refinancing Loan News: US Postal Service In Financial Trouble
 St Louis Mortgage Broker and Commercial Loans | Principal Loan Reduction
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

 The U.S. Postal Service (USPS), a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of federal fiscal year 2011. That was compared with a loss of $297 million a year earlier.

The agency has been suffering from an ongoing decline in mail volume, which has undercut revenues, while

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St Louis Home Loan and Mortgage Lending: Fannie and Freddie Out

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St Louis Mortgage and Real Estate News –

St Louis Finance and Loan News: Fannie and Freddie Recommended To Be Phased Out
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

 There are new reports coming from the White House stating that the Obama administration has issued a White Paper strongly recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac according to St Louis mortgage brokers.

It has included three different options for reducing the role the U.S. government plays in the

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St Louis Commercial Mortgage and Loans: Mortgage Industry Recovery At Least A Year Away

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St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Principal Loan Reduction News: Housing Recovery May Be A Year Away?
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

 According to Bank of America Merrill Lynch (BOAML) strategists, the hoped for recovery for home prices appears to be still more than a year away and most St Louis mortgage brokers agree.

"Currently, our view is toward the

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St Louis Mortgage Refinancing and Home Loan Mortgage: Shadow Inventory Pushes Foreclosures

St Louis Mortgage and Real Estate News –

St Louis Finance and Mortgage Broker News: Shadow Inventory Will Push Foreclosures
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

 Two reports from separate credit rating agencies are drawing the same conclusion and that is foreclosures will reach new heights in 2011, even after setting records in 2010 according to St Louis finance experts.

"DBRS expects foreclosure filings and completed foreclosures to reach record levels in 2011 as alternatives such as modifications for seriously delinquent borrowers

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St Louis Mortgage Loan and Refinancing Loan: Market Bears 30 Percent Of Foreclosures

St Louis Mortgage and Real Estate News –

St Louis Finance and Principal Loan Reduction News: Only 30 Percent Of Foreclosures On The Housing Market
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30 percent have actually made it onto the market.

According to its year-end report, foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing 4 million filings according to several St Louis mortgage brokers.

And that's not counting the more than 5 million delinquent loans that have yet to enter the

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St Louis Mortgage Refinancing and Home Loan Mortgage: Higher Credit Card Rates

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St Louis Finance and Loan News: Credit Card Rates At All Time High
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

 Current interest rates for credit cards are now hovering near record highs, at an average rate of 14.72 percent.

And if your credit is bad enough, you could even end up with a rate as high as 59.9 percent APR.

That's because while the CARD Act helped

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