Personal Finance and Money Management

Quicken Loans Capital Markets Update for October 23, 2009

Treasuries are down this morning on more Fed Policy speculation that they leave be raising rates sooner than expected. In terms of economic news, the major release today will be the existing home sales figure. It is expected that home sales rose by almost 5% in September!

Have a great weekend and stay tuned in favor of next week’s updates on mortgage and economic news!

The first allotted period home buyer tax credit extension has been extremely popular in the media and with potential first time home buyers.  When the news first broke of the potential extension we created a poll on Subprime Blogger.  We have received over 3000 votes with a significant majority strongly in favor in the extension or possible expansion of the tax credit.

We have seen great interest in the idea of an extension of the tax credit on Subprime Blogger.  We would like to thank all the readers who have read and responded to our articles.  The goal is to get 10,000 votes in favor of an extension and possible expansion of the tax credit. If

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The incentives mortgage servicers receive for managing a home loan are a significant obstacle to loan modification that would help financially troubled borrowers avoid foreclosure, according to a new report from the National Consumer Law Center.

In fact, the way servers are compensated actually makes it more profitable for them to foreclose on delinquent loans rather than modify them, the report originate, even though loan modifications might be more profitable for the investors who actually grasp the mortgages.

In fact, the report found that servicers typically face a near-certain loss if they effect a loan modification, but can actually make money on a foreclosure.

“Foreclosures are a costly ordeal for the homeowner, the lender, and the community,” said the report’session author, Diane Thompson, an attorney with the NCLC.

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The foreclosure situation has radically changed the financial thinking of baby boomers. The financial advisers who are in charge of $10 trillion as assets will change their priorities as regards investments when they reach retirement point. This was view of a senior official at BlackRock Inc.

They will move on from accumulation (squeezing the most out of time from their assets) to decumulation opined Frank Porcelli of BlackRock at Reuters Global Wealth Summit held in Boston. He said, “The questions won’t be, ‘How did I do against the SP 500? The questions won’t be, ‘How did I do against the SP 500? The quest

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