Two Colorado Springs Air Force bases are poised to get 839 new homes, which could bolster the city’s homebuilding industry as it works its way through a slump. Read the full article: Springs AF bases to get new housing

If you’re moving to the Springs and need a VA LOAN, call me today. Wow. Did I just write that? Yikes! How about this:

As a mortgage professional licensed in Colorado, I help military borrowers procure VA loans.

Postive: The Rockies won last night, making it 9 wins in a row.

Negative: This article from the Denver Post:

Home resales, depressed by turmoil in credit markets, fell for a sixth consecutive month in August, pushing activity to the lowest point in five years.

Read the full article: Home resales drop to 5-year low

The headline is much better than the article:

“Quick action by Erin Toll, state Division of Real Estate director, kept lenders from pulling out of Colorado because of new laws.”

In June, some major lenders (OptionOne Mortgage, IndyMac, SunTrust Mortgage and Aurora Loan Services) threatened to stop making home loans in Colorado after they disagreed with new requirements the state placed on mortgage providers.

The lenders were beefing about this law:

Mortgage providers must show that loans are reasonable and benefit borrowers, and they must also disclose more about how they are compensated.

Seriously, don’t waste your time reading the full article: Regulator keeps money flowing for homebuyers

Is there any wonder where Americans learn about debt:

Treasury Secretary Henry Paulson told Congress on Wednesday that the government will hit the current debt ceiling Oct. 1.

Read the full article: Federal debt ceiling running out of room

Mortgage article from the Denver Post:

The government on Wednesday nudged higher the investment caps for home-loan finance companies Fannie Mae and Freddie Mac in an effort to alleviate strain in the mortgage market.

Read the full article: Fannie, Freddie mortgage caps rise

From the Denver Post:

A day after the Federal Reserve’s first cut in the federal funds rate in four years, a relatively positive marketplace response was tempered by some wariness.

Read the full article: Rate cut leaves some leery

Mortgage article from the Denver Post:

A jubilant Wall Street barreled higher Tuesday after the Federal Reserve cut its benchmark interest rate by a larger-than-expected half percentage point.

Read the full article: Dow does rate victory dance

Article from the Denver Post:

The Federal Reserve’s short-term- interest-rate cut of half a point Tuesday should give a boost to local businesses and consumers, including some sectors of the hard-hit housing industry.

Read the full article: The Fed cut interest rates. Now what?

The Rockies are doing very well in 2007. They started off slow but rebounded. With a few weeks left in the season, they’re making a a strong push towards a playoff berth. Imagine what their season could have been if Manny Corpas was moved to the closer spot when Brian Fuentes was having his “issues” in late June/early July.

While the Rockies dominate the back pages for now (it’s only a matter of time before the Broncos dominate) the Business section is dominated with talk of a recession:

U.S. stocks sold off Friday, with the major indexes all ending with weekly losses, after a jolting decline in August employment – the first such drop in nearly four years – sparked worries the country could be headed for a recession.

Read the full article: "Shocking" jobs report for Aug. triggers more fears of recession.

Mortgage article from the Denver Post:

When Denver real estate attorney Ronald Thompson contacts the Colorado attorney general’s office about mortgage fraud or real estate scams, he knows his chances of getting help are slim to none.

Read the full article: Mortgage mayhem too fast for law.