Financial Update by Maurice Soussé

HUD has rolled out its new $25 Billion PSA (Public Service Announcement) advertising campaign. The ads will direct consumers to a national website that will show consumers the ways to investigate if a principal reduction is possible on their loan as part of the Department of Justice settlement agreement with the big loan servicers. You can click on the link http://nationalmortgagesettlement.com/ to see the details of the program. Ally/GMAC, B of A, Wells, JP Morgan Chase, Citimortgage and Wells Fargo are all participating in the program. Maybe it is something even you might be able to take advantage of.

Interest rates are pretty steady this week even though the bond market is rising today. The 10 year is currently at 1.59% which is a sharp uptick. Rates have gone up today but the 30 year fixed at 3.49% with no points is incredible!!

The quote this week is from Abraham Lincoln and rings true for every sales person in the world: “My great concern is not whether you have failed, but whether you are content with your failure.”

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