Recent Posts At Straight Talk

• Elizabeth Warren for Treasury Secretary? March 12, 2010
  Elizabeth Warren on Consumer Protection (MMBM) from Roosevelt Institute on Vimeo. Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't like it......If you want to [...] […]
  Sean Vault
• Why the U.S. can’t inflate its way out of debt – Mar. 11, 2010 March 11, 2010
  Okay, I’ve got to say, I shouldn’t be surprised that this is just now becoming “news” but I am.    It’s just now dawning on people that we can’t inflate our way out of debt? Did we really think that the money wouldn’t have to be paid back some time? If our government engages in policies that will [...] […]
  Kenny
• Foreclosures Down 2% in February: Don’t Pay Attention to the Headlines…. March 11, 2010
  Don’t pay attention to the headlines – foreclosures down 2%.   Instead, look at the rest of the story: Foreclosures are up from last year. Foreclosures aren’t up as much as in the past, but they have been up on a year over year basis for 50 months in a row. Look at the quote that the CEO of [...] […]
  Kenny
• Please tell me my numbers are wrong…. March 10, 2010
  Okay, here are some scary numbers…… Fannie and Freddie own 131,000 properties between them (as of the end of 2009) They sold 200,000 units in 2009 that they “inherited” from people who defaulted. But they own more now than they did at the end of 2009 (the situation is getting worse rather than better) This doesn’t count the homes [...] […]
  Kenny
• Another Example of why Fannie and Freddie don’t like condos…… March 10, 2010
  Here are two more examples of why Fannie and Freddie are not very excited about condos: Example #1 we have a 216 unit condo complex with only 1 occupied unit.    That means that for an association who’s budget is $86,400 per month ($400 x 216 units – strictly an example), they are taking in $400 per [...] […]
  Kenny
• Economy ‘Far too Close’ to Double Dip: Roubini – CNBC March 10, 2010
  You know, you can argue all you want that Nouriel Roubini is way too negative.    You can argue all you want that things are better than they seem.   You can argue all you want that the debt issues aren’t bad. But I don’t think anyone can argue with Nouriel Roubini’s track record in the last few [...] […]
  Kenny
• Housing Prices in Michigan March 9, 2010
  I found this chart in the Detroit Free Press.   It illustrates the challenges that we’ve got in Michigan….. You know, 20 years ago, we didn't need Straight Talk in the mortgage world.   Everyone did the right thing and everything moved along......Now we do.   Would you like to work with a lender who will tell [...] […]
  Kenny
• Uhhh….. No kidding? March 9, 2010
  Okay, call me Captain Obvious, but does anyone else think that this is one of the most obvious statements?   Consumers didn’t understand the mortgages that they took out?    Yep, the consumer didn’t understand what they were getting.    And let’s look at why that might be: Because so many people in our country are basing all of [...] […]
  Kenny
• How to Fix The Water Problem…. March 9, 2010
  What?  Are we now talking about plumbing problems here on Straight Talk?   Nope. We’re talking about underwater mortgages.    You know, the situation where people owe more than what their house is worth. So what’s the scoop and how do we deal with it? The scoop – the property values were vastly over inflated by the housing bubble of [...] […]
  Kenny
• Post Traumatic Shock Syndrome – What does that mean? March 3, 2010
  Fed President Fisher made some interesting comments today about interest rates and the overall economy.   A couple of main points: I like his description of post traumatic shock syndrome.   I think it explains quite well what we’re in.   The fall of 2008 was the worst of it all.    Now we’re dealing with the issues that are [...] […]
  Kenny