About where Carleton Sheets grew up

I found an interesting article today, discussing where Carleton sheets grew up:

Carleton H. Sheets (often misspelled as Carlton Sheets or Carlton Sheet) was born in a small town in Illinois, where he and his younger brother were raised by conservative parents. When Carleton was 10, his father was transferred and the family relocated to Ohio. Near the end of his first summer in Ohio, Carleton decided he wanted to make extra money by mowing lawns. He asked his mother to loan him the money to buy a mower and he repaid her in installments after mowing a few lawns. Purchasing the mower with no money down became his first “no down payment” venture. He did so well mowing lawns that he asked for another loan to buy a bicycle so he could deliver newspapers—his second “no down payment” transaction.

Like many, Carleton came from humble origins.  From the beginning Carleton was an entpreneur.  Even at an early age, he showed his entpreneurship when he mowed lawns and basically took out an installment loan to get his mower.  That was his first (of many) no money down deals.

U.S. weighing new mortgage plan

According to sources the government is expected to soon announce that $50 billion will be devoted to addressing the mortgage crisis.

The government is expected to announce soon that it will devote up to $50 billion to directly address the source of the financial crisis: bad mortgages and millions of homeowners at risk of foreclosure.

White House spokesman Tony Fratto said on Thursday that “no decisions” have been made on “a number of housing proposals” that the administration has been reviewing “for some time.”

But three administration officials indicated to CNN that the new program would be designed to prevent foreclosures by having lenders reduce delinquent borrowers’ mortgage payments to affordable levels. In exchange the government would guarantee some percentage of each loan to backstop lenders if borrowers re-default on modified mortgages.

At this point, the integrity of the markets is critical.  Investor confidence is ever so important.  So, any injection of economic fuel into this economy will benefit real estate investors.  Keep an eye on this one.  There are certainly some positive benefits from this that could go into the pockets of real estate investors.  Hopefully very soon.

Good news for real estate investors

In a time of economic turmoil, it is always good to hear positive economic real estate investing news.  This week, it was announced that mortgage applications are on the rise.

The Mortgage Bankers Association’s seasonally adjusted mortgage applications index, which includes both purchase and refinance loans, increased 16.8 percent to 476.7 in the week ended October 24, reversing the prior week’s 16.6 percent slump to the lowest reading since December 2000.

Demand for U.S. mortgage applications climbed last week from a nearly eight-year low, while borrowing costs dipped, a trade group said on Wednesday.

The trade group’s seasonally adjusted purchase index rose 8.5 percent to 303.1 after falling 10.9 percent the prior week, while its refinancing applications gauge jumped 28.5 percent to 1,489.4 following a 23.5 percent downturn.

Requests for applications to buy homes as well as refinance mortgages increased last week after posting similar declines the previous week.

I wanted to share this positive information with you.  This economy will turn around.  It will just take time.

30 year mortgage rate - Bullish for real estate investors

I found this great article, giving me an indication not everything is bad in the real estate sector:

Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five weeks.

Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.04 percent this week, down from 6.46 percent last week. The sharp decline pushed 30-year rates down to the lowest level since they stood at 5.78 percent the week of Sept. 18.

Analysts attributed the decrease to an easing of inflation concerns which now have been replaced with rising worries that the country could be headed for a prolonged recession. Interest rates generally fall in periods of economic weakness.

While this change may be good for investors, it is still concerning me that this is occurring, primarily, because economists fear that we are sinking into a recession.  Naturally, that is a great cause of concern.  Regardless, it is always good to see something for real estate investors to at least be enthusiastic about.

Welcome to About Carleton Sheets

Welcome to AboutCarletonSheets.com.  This site will help you communicate with me across the web.  On site, you will find out how to reach me on the different social media services.  In addition, I will discuss real estate investing stories that will impact you.  Please, let me know if you have any questions or comments.