I haven’t had time to post but the US government is no longer interested in purchasing toxic mortgages and taking them off the books from banks. Instead the Federal Government will provide capital to banks by purchasing stock in the companies.  Honestly this sounds like a better plan, though I’m unsure if it’s the Government [...]

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So DH and I had a Home Equity Line of Credit set up with Bank of America.  We have our mortgage with them and our checking.  Anyway we set up the home equity line when we got the mortgage in case of emergency.  We haven’t used it, but it was comforting in case of emergency [...]

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So what’s my thoughts on the bailout of Fannie Mae and Freddie Mac?  Well let’s start with the fact the CEO’s of both companies are getting HUGE severance packages!  What the heck?  How can we be bailing out these companies and yet the people who ran them into the ground somehow have $9.3 million for [...]

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I’ve been escrowing our property taxes for 5+ years.  With our first condo, we did an 80% 1st, 10% 2nd, and 10% down payment, so we had to escrow our property taxes with the mortgage company.  However, after our property appreciated and we were able to only have 1 mortgage for less than 80%, and [...]

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