Dale Rogers's Articles

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  • Upside Down…Turned All Around…After An Auto Accident
    The TV commercials are all over the network showing two friends chatting away oblivious to what is happening around them and WHAM another car smashes into the them while air bags are going off with blank looks coming from their faces. The ad’s apparent purpose is to demonstrate how safe this car is with front and side air bags with reinforced doors and multiple safety features where the driver and his passenger are able to walk away from it without an injury.

    This little 60-second commercial
  • You Have No Credit…Have A Job & Want To Buy A Home
    Many working people in the U.S. have no established credit, but want to own their own home. This article will deal with a strategy to use Alternative Credit and other sources to build a credit file for hand underwriting from a willing lender. Somehow, rent, car insurance, groceries, phone, cell, water, sewer, medical, car repairs and gasoline gets paid every month. They are making money but it’s now showing up anywhere. This will show a way that this market segment can get a home loan, even an u
  • The Mark Is Selected…The Fix Is In…Sting Underway
    A passerby walking down the street discovers a wallet beside a stranger and it just so happens to be packed with wads of cash. The newfound friend proposes splitting the cash if the owner can’t be found. Then there is the bank “examiner” who calls a bank customer with an appeal to catch a dishonest teller. All the mark has to do is make a withdrawal to affect the capture of this teller putting her money and all the other bank customers at risk. We can’t forget the urgent online appeals on the In
  • Honey…The Bank Is On The Phone…Since We Were Two Days Late On Our Payment
    Unlike previous down mortgage cycles, lenders are pulling out all the stops to blunt foreclosures. From the use of computer models focusing on customers that “might” fall down together with a lender commitment to slow down any borrower from falling into a non-performing loan. So if a borrower is say two days late from a normal payment pattern, customer service is on the phone to find out what is going on. Options may range from refinancing the loan with different payment terms or even consider a
  • Dick and Jane Are Up To Their Elbows In Alligators and The Sharks Are Swimming In The Moat Around Th
    American families are waking up to the fact they are in deep doo doo upon the receipt of the first notice from the mortgage lender holding the Adjustable Rate Mortgage (ARM) that the mortgage payment is jumping up by a considerable margin. Family budgets are blowing up, savings are being exhausted, payments are being missed, credit card debts are exploding, credit scores are falling and their favorite dog spot does not have as many goodies to toys to play with.
  • Outrageously Low Real Estate Offers Are Now Getting A Second Look From Sellers and Lenders
    “Knock, knock, who’s there?” The door opens and no one is there. Bumps in the night are confused with buyers wanting to get in to see a home for sale. Where has all the buyer’s gone? With foreclosure rates up approximately 42% over 2005 the housing inventories on the market are bloated. Many Real Estate Boards across the America running out of lock boxes to put on homes due to slow sales.
  • Caught In A Riptide Of Mortgage Debt With Rising Monthly Payments
    When the nightly main stream television news leads with stories regarding mortgage foreclosures and down turning markets a viewer knows a trend has arrived. This is all backed up with data indicating the surge of properties on the market with mortgage foreclosures trending up as well. Various areas are experiencing more downside moves than others are; however, the overall is down at the current moment. Two years ago, if a buyer or seller breached the subject of a Short Sale, where the lender set
  • The ‘New Congress’ Fiddles Away Valuable Time… As The 275,000 Insurable Limit For Home Equity Conver
    While the ‘New Congress’ fiddles away valuable time Thursday the 15th of February 2007 the limit will stop future originations of Reverse Mortgages under the federally insured Home Equity Conversion Mortgage. This has been a very successful program. It has been refined over many years to what it is to day. Previous private sector programs in many cases were ripping seniors off with high fees. While Congress may put a temporary lift on the 275,000 units per year of Reverse Mortgage cases that wil
  • Violent Crime On Innocent Victims…Adds To The Victim’s Woes…With Mountains Of Unpaid Medical Bills a
    Lucille Marie was leaving from work just as the sun was going down. As she reached the car door with her keys in hand a flashing figure came from the side with a chilling voice, “Give me your money or die”. By now the assailant had Lucille Marie around the throat in a chokehold from behind with something sharp at her back.
  • See Ya…Adios…Sianora…The Painful ‘Death-Like’ Experience Called ‘Divorce’…And How It Can Effect Cred
    Many therapists compare a divorce to a death like experience. It is loaded with emotion welling up to sometimes very irrational behavior. If it’s just two people, that’s one thing. If there are children involved, that’s a whole different ballgame. With two people that say are splitting on an amicable basis that would be ideal for each. Divide the stuff up and hasta la vista baby. However, if there are commingled financial assets, a home, investment properties, second homes, credit cards, retirem
  • For 'Anna Nicole'…'Britney'…'The Diaper Astronaut'…'Paris'…The 'Drama' Never Ends
    Death trumps all. Game over for one player in the “Theatrical Drama of The Buzz Game”. Anna Nicole is not at the table anymore leaving the other players in the game with others lining up to take her place. In the mean time people are watching as Anna Nicole, who has now assumed room temperature, is having her bones picked over by the circling predators. “The Diaper Astronaut” never wanted to be in the game, but by her own bizarre actions in a love triangle was pulled in. Not a willing player, bu
  • Like In The Most Horrific & Scary Movie…The Audience Cries Out…'Watch Out!!!'…While The Actors Hear
    One has to wonder about borrowers signing up for a new Option ARM (Adjustable Rate Mortgage) with negative amortization and low teaser rates really know what is ahead of them. The slick computer models showing ‘what if scenarios’ make the case based on given assumptions. The term negative amortization is something that will be in front of their faces real soon. With a minimum payments starting in 1%, 2%, 3% etc. the real fully indexed rate which includes an underlying base of a chosen index plus
  • The Other Shoe Has Dropped…First The Subprime Market…Now Bernanke Looks At Fannie Mae & Freddie Mac
    With the market still feeling the shakeout from the tremors of the subprime mortgage fiasco, the Federal Reserve Chairman Ben Bernanke is now directing regulatory focus towards Fannie Mae and Freddie Mac. The Chairman recognizing the tremendous power of these two financial heavy weights as having the potential to bring the U.S. financial markets to its knees is looking for action. Fannie Mae and Freddie Mac (Government Sponsored Enterprises) have been recently chided by regulators regarding its
  • With Levels of Consternation Riding High With Subprime Loans, Fannie Mae And Freddie Mac, Now What A
    FHA has been losing market share to Subprime loans for quite some time now. With all the requirements for a company to qualify and meet the regulatory commitments to the do business many lenders threw up their hands and took their business to other loan products. Many subprime loan products were tweaked to look like a FHA product thus competition heated up. It heated up to the extent that FHA went from like 1.3 million loans to just a little over 400,000 loans in 2006.
  • Senator Levin Prepares to ‘Slap Around’ Abusive Credit Card Companies Who Are Ripping Off Consumers
    “Some” of the Credit Card Companies offer a good product and decent service providing Americans with the convenience and back up of a credit card when not carrying a lot of cash on person. Much of the online business and other travel and such have to be conducted by some sort of plastic. Credit card possession and usage is a cornerstone of conducting business in the U.S. It creates fluidity to economic commerce.
  • Foreclosures Are Exploding…Values Are Down…Homeowners Are Stressed…Rates Still Low!
    As the financial markets are being rocked by daily negative news including the latest lenders closing their doors and higher levels of reported foreclosures hitting new highs have stoked even more the slide of the troubled mortgage business. The mortgage products including Option ARMs, 2/28 Subprime ARMs (2 years fixed then adjusts every six months), NO DOCs, Self Employed Stated Income, W-2 Stated Income, Bank Statement Loans, No Ratio, and other esoteric subprime loan products.
  • Viaticals- A ‘Dark Alternative’ To Shielding Survivors From Credit Challenges Of Medical Collections
    It’s just not enough to face the final phase of life with all the finality that goes with it without dealing with medical bills, collections and possible judgements all tied to the a terminally ill patient. A person may have worked all their lives with purpose and grace only to be run over by terminal illness. If there are loved ones attached to this experience all the pain and suffering may really go beyond the funeral with trailing medical bills, collections and even judgements.
  • Getting a Bad Credit or No Credit Auto Loan
    “No Credit, Bad Credit, No Problem” ever hear these advertisements on the radio, or television, getting an auto loan isn’t as easy as the dealerships make it seem. Most dealerships require large down payments, documents (such as paycheck stubs), and/or some form of collateral. This article will help get more opportunities for an approval on an auto loan, for those who have bad credit or no credit.
  • The ‘Porkmeisters’…Cloaked In Secrecy…Ply Their Trade Of Separating Tax Payers
    Jimmy Stewart’s character portrayed in “Mr. Smith Goes To Washington” would have been right at home last week in Washington D.C. surrounded by the “Porkmeisters” of the current day. Déjà vu here we go again. Conveniently, the closure rule has been simplified removing the spectacle of a ‘elected citizen’ fighting with the Filibuster Rule. The difference here is that this spectacle occurred in the “House Of Representatives”. The strongest example of an oxymoron if they’re ever was one.
  • Willie Sutton Is Now Back Not As A Bank Robber But As A Modern Day Identity Thief
    Willie Sutton was one of the more prominent bank robbers in American history. During his long career he had robbed close to 100 banks from the late 1920s to 1952. He was known as “Slick Willie” or “The Actor”. As a master of disguise the FBI files show that Sutton disguised himself as a mailman, policeman, telegraph messenger, maintenance man and a host of other disguises. Willie Sutton was on the newly created list of the FBI’s Top Ten Most Wanted Fugitives in 1950.
  • Finally ‘Suitability’ Test Arrives At The Mortgage Industry’s Gate…How Bad Does It Have To Get
    The National Association of Stock Dealers (NASD) police and license stock brokers through the Series 6 and/or 7 licensing requirements as well as other controls on a nationwide basis. If an elderly person with fixed assets has a disportionate share of their assets in pork belly futures, index options or maybe a wild derivative product, this would be a case of crossing the line on suitability. Investment needs require matching with risk.
  • If Vince Lombardi Ever Addressed Members Of The Mortgage Industry…His Message: May Have Been…Back To
    Somewhere between the Stated W-2 Wage Earner Loan and the New Century Mortgage (large subprime mortgage lender) filing for Chapter 11 Bankruptcy protection mortgage practitioners lost track of the basics of the mortgage lending practices and procedures. When Vince Lombardi opened training camp at the Green Bay Packers at the first practice of the year he gathered all around and held up a football to the players and told them…"this is a football".
  • Less Than 1% Of Identity Thieves Are Prosecuted…What Are The Chances Of Beating A Ring Of Scammers
    The ink on recent headlines is still wet and not yet dry announcing the hacking loss of thousands of credit card information records from T.J. Maxx and Marshall’s. As featured on a recent Dateline NBC expose’ by Brian Hansen the identity thieves do not require the actual card, just the information. As Brian Hansen demonstrated with one of the “tracked” cards, the card was gone in seconds and major purchases were being made all over the world in a matter of minutes…
  • Lender’s Get Aggressive To Help Borrowers That Are At Default Status On Their Mortgages
    The front pages are dominated with stories of the foreclosure onslaught. Those who can be helped out of their situation now have some options, which didn’t exist a few years ago. Some borrowers are so far gone with their financial situation, many times based on circumstances perhaps out of their control, the only answer may be to try a “short sale” (where the lender will accept less than what is owed), “deed in lieu of foreclosure” (where the borrower gives back the property to avoid foreclosure
  • Achieve A Bad Credit Auto Loan Without Signing Your Life Away
    Bad auto loans are very common nearly a quarter of Americans are credit-challenged. If you have bad credit or even no credit, you should have little problem of getting into a car. There are thousands of bad credit auto loans issued everyday in the U.S. There are specific banks or lenders that provide loans for those whom are credit-challenged, these banks are called subprime lenders. There are several factors, and criteria that may be needed to get a bad credit auto loan such as money down/coll
  • There Was This Guy Banging On The Door… Inquiring About Lis Pendens Foreclosure Action On His Home
    This had been quite a turn of events for Bobby, a single dad, recently divorced with full custody of his two boys. His ex-wife had taken off with a new love found on the Internet. She said it was real love this time. During the strain of the divorce and loss of half the household income things began to slide into disarray. The latest salvo was receipt of the Lis Pendens action served by a “friendly” process server with a phony smile. A week after service there was a long line of “investors” and
  • When Banks Are Left To Their Own Devices…Consumers Get The Hosed
    Desperate for money, Jack contacts a money guy referred by his cousin Jerry for a temporary loan. The “VIG” is 25% per week. This is excessive and is an example of loan sharking. This is a criminal act. The terms are clear and it’s all spelled out with verbal communication. Pay as agreed or else.
  • Mortgage Lenders Are Dropping Like Flies With Their Little Legs Turned Up And Kicking
    The whole key for Bob, or any other contrarian, is to make lots of offers based on a valued analysis. If you don’t get the deal let someone else take the hit. There is desperation in the market place and it IS a BUYER’S MARKET. The professionals tune out the bad financial news and move out of the living room and put some serious cash to work. A year ago sellers would laugh bottom feeder buyers out of town. No one is laughing now.
  • Little Known Government Program Can Help First Time Homebuyers Get Housing With Little Money
    Where do you start? A Washington D. C. issued memo came out of the blue indicating the formally allowed homebuyer assistance plans would not stand as practiced. The foreclosure rates had soured in this segment of the market and it was thought by the “know it all” bureaucrats that they would just eliminate it. Glass half full or half empty? If you have 5% or higher FHA loans going into foreclosure is it prudent to throw the baby out with the bath water or would it be better to coach up.
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