foreclosures

Lowest Interest Rates In 50 Years But Still No Buyers

July 6, 2010

Interest rates on mortgages have fallen to the lowest rate in the past 50 years to 4.58% for an average 30-year loan. Yet, even with these low rates there are still very few customers lining up for new mortgages or trying to refinance. Unfortunately, the economy has affected the housing market and individuals to such [...]

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Half The Hurdle Is Passed As Senate Okays Closing Extension

June 21, 2010

The Senate passed the proposal to extend the closing date for the $8000.00 homebuyers tax credit to September 30, 2010. On Wednesday, June 16, the amendment was ratified in a 60-37 vote, mainly along party lines, with only four Republicans voting for it (4?? Oh, how I would love to comment on that….but I won’t [...]

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An Extension For Closing?

June 16, 2010

Apparently the $8000 tax credit for home purchases was a success. In fact, it was so successful that right now it is estimated that as many as 180,000 of these people are in danger of not being able to close on time in order to meet the June 30 deadline. And rules may be rules [...]

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Expect A Hit To Your Credit Score

May 24, 2010

Many homeowners are facing unforeseen troubles right now. All across the country there are foreclosures in records numbers due to the troubled economy and lax lending standards in the past. Also many homeowners are unable to sell their home for enough to cover their mortgages if they do have to move. However, many of the [...]

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Bulls or Bears In The Housing Market?

May 14, 2010

Is the housing market across the United States in a recovery mode or will we continue to see prices go down further? While some economists are being optimistic and bullish about the housing market recovery, Dean Baker, an American economist and co-director of the Center for Economic and Policy Research is predicting the opposite. He [...]

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Rent Ratios And Buying vs. Renting

April 26, 2010

The real estate market has crashed in much of the country. The $8000.00 tax credit ends in just a few days on April 30, 2010. Of course, there may be advantages to buying a home now or there may be advantages to holding out and just renting for the time being. A recent New York [...]

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Foreclosure-Now An Equal Opportunity Problem

April 19, 2010

The richest of the rich with the highest mortgages are expected to see a sharp rise in foreclosures during 2010, thereby joining the middle class and even the poor in a situation that nobody wants to be in. In the year 2009, there were 1312 houses with a mortgage of over $5 million that went [...]

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Foreclosures And Credit Scores

April 5, 2010

Right now there are millions of homeowners who are struggling with their mortgage. There are the homeowners who have had a financial setbacks, lost a job, experienced a business failure, or whatever and have fallen behind on their mortgages but there is also another class of homeowners who are so upside down on their mortgage [...]

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Short Sale Solution

March 10, 2010

In an attempt to thwart the overload of foreclosures that is continuing to thwart the economy, a new program is encouraging banks and owners to agree on a short sale in order to sell the property and prevent a foreclosure. A short sale is when the bank or lending institution agrees to accept less than [...]

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Foreclosure Double Standard

February 1, 2010

Right now there are many people who are experiencing the fact that they owe more on their mortgages than their home is worth. Not only that but with the continued plunge of real estate prices they may not be able to recoup the amount they owe on their home for years and years, if ever. [...]

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