When re-financing is done of the purpose of debt consolidation there is not always an overall increase in savings.
By paying off your credit cards each month, your score rises.
Popularity: unranked [?]
Surviving the sandwich years
The wealthiest seniors can afford the high costs of aging, and those with few assets qualify for Medicaid. But for seniors in the middle class, families often have to step in and help.
There is a risk of the interest rate being considerably higher when the mortgage comes up for an interest rate review.
Core inflation cooperating?
The year-over-year rate for the core CPI has now declined for two months in a row and is the lowest in the past year.
Should car accident affect homeowners insurance?
Companies can decide how they determine risk, says Dr. Don.
Contributing to Roth IRA after retirement
Unlike with a traditional IRA, you can continue to contribute to a Roth IRA at any age, says CPA George Saenz.
Popularity: unranked [?]
When house values increase, especially as dramatically as in recent months - people feel freer to spend from the wealth they have, or the wealth they perceive they have.
Bond rates lack wind in sails
Bond yields didn’t move today.
Will sellers or buyers blink first?
Will sellers drop prices in response to a big supply of houses for sale, or will buyers finally have to pony up?
Subprime loans rarely insured
“What about the role of PMI in the subprime mortgage mess?”a reader in Massachusetts asks.
Home sales register declines
House resales fell 6.6 percent in the first three months of this year compared with the first quarter of 2006. Prices of resold homes fell 1.8 percent.
Benign PPI belies pump jumps
The Producer Price Index, which measures changes in wholesale prices, rose 0.7 percent in April.
Popularity: unranked [?]
Fame & Fortune: Author Nicholas Sparks
Supporting his family as a sales rep, he gave himself three shots at writing success and scored with “The Notebook,” a story straight out of his family’s past.
Early finish of new home can trap buyer
Current market conditions are helping builders finish new homes before expected, causing snafus for buyers still trying to sell their existing home.
If you do decide to use an attorney, your best bet is to find someone prior to finding a buyer and work out an arrangement.
Plan your strategy beforehand and during negotiations what you really want for price, closing date and contingencies; once you’ve agreed to terms in writing, it becomes difficult to change them.
These intervals of time vary from monthly to yearly to 3-yearly or 5-yearly.
Popularity: unranked [?]
The last thing you want is to have a property you believe can be re-zoned to a higher and more profitable use, and after you purchase it, realize you cannot do what you intended.
Popularity: unranked [?]
Developing Realtor Business
Successful originators develop productive relationships with real estate brokers or agents by first becoming educated about them. The Internet holds a plethora of information about most Realtors. The National Association of Realtors said the median income last year for agents was $34,600.
Fha Activity Jumps
The average 30-year fixed rate mortgage was 6.15 percent, according to Freddie Mac’s latest mortgage survey announced Thursday. The average was slightly lower than the previous week. Fha applications led a small increase in overall activity, the Mortgage Bankers Association reported.
Lead Generation Scrutinized
A new 19-page report from Rbc Capital Markets Corp. examines questionable lead generation tactics. One marginal tactic is the use of the word “free” when no free offer really exists. Another questionable practice is the collection of personal data without warning prospective borrowers their data will be sold.
It is not likely that a given agent is going to be able to preview every home for sale all over town because in a large city, this may involve visiting hundreds of homes as opposed to a relative handful in a given neighborhood or part of town.
It is best to arrive at the closing agent or attorney’s office early, in case you are delayed in any way.
Delinquent Borrowers Sought
Shearson Financial Network Inc. has expanded a California facility to handle borrowers with delinquent mortgages, according to an announcement Thursday. The company said it is currently working with warehouse lenders and small mortgage banks to resolve their problem loans. Shearson claims to have already refinanced nearly $100 million in nonperforming loans during the past six months.
Popularity: unranked [?]
Task Force Takes A Look At Identity Theft
In the spring of 2006, with reports of computer hacks, lost laptops,
and other precursors to identity theft increasing, President Bush
appointed an Identity Theft Task Force to investigate
the problem and suggest solutions.
Although some home owners are successful with FSBO, according to the National Association of Realtors (NAR) home seller survey, only sixteen percent of sellers actually sell their home without exposure on the MLS.
Deciding on financing options is a complex process.
GAO To Look At Foreclosure Incidence and Causes After Hearings
Before we were sidetracked by new and existing home sales reports and
falling interest rates we were
hearings before the House Committee on Financial Services that featured
some of the big wheels of banking regulation and mortgage lending talking
about solving problems with subprime mortgages and helping homeowners who
are facing foreclosure on their homes.
You’ll want to consider them first when you are in the market for first time loans for a new mortgage.
Drop In Investment Purchases Offsets Vacation Property Sales Gains
It seems impossible to get a clear look at the housing situation these
days. Where there is hope there is despair, if good news there is bad,
existing home sales plummet while new home sales climb toward recovery,
ying begets yang. And in that spirit, The National Association of
Realtors (NAR) just released its annual report on the
sales of what we will call “additional homes,” that is vacation
residences and residential investment
properties.
Popularity: unranked [?]
Cost of shares in demutualized company
If you were a policyholder of a mutual company that went public, you may have received either stock or cash in exchange for your equity interest in the company, says CPA George Saenz.
How to construct a portfolio
You don’t need professional help to invest your assets wisely. All you need is a recipe with index funds as ingredients for portfolio pie.
Reacting to possible credit fraud
You should put a credit freeze on if your state allows it, says Dr. Don.
Have you ever thought about buying HUD homes - many people have?
If you put a down payment on your home purchase, it will go towards your overall purchase.
Understand the home purchase process before you enter into it.
Have a 1st and 2nd mortgage, need cash
If you have enough equity, your choices include a cash-out refi or a home equity line of credit, says Dr. Don. Each has advantages.
Popularity: unranked [?]
If the commission split offered to buyer agents is too low your home has a much higher chance of just sitting there with little or no activity.
Getting pre-approved helps you to alleviate some of the anxieties that come with home buying.
Popularity: unranked [?]
Publicly held Forest City Enterprises of Cleveland has signed an agreement to redevelop the main hospital complex within the Presidio, an historic former army base at the foot of the Golden Gate Bridge. via GlobeSt.com
First time loans for home buyers can be costly if you are not aware of what you are looking for.
As a first-time home buyer, you’re probably about to make the biggest purchase of your life to date. via The Southern Illinoisan
Turn Blogging Into A Lead Generation Tool
“Blogs are a great way to create awareness, position yourself as the local market expert — what we’ve done takes it to the next level by making it a lead generation tool that is integrated into a web site”
Citizen media is the fastest growing trend on the Internet, from movie making to journalism. via Realty Times
Which direction is real estate headed?
“The down market, the recession will not affect SLO County - we are special and different.”
Which direction is real estate headed? Some county residents may wonder if this is the right time to buy or sell their house. via SanLuisObispo.com
Escrow officers under scrutiny
“Luckily, this is the first time in 10 years we have had an employee do this. But there needs to be more licensing, education and regulation”
Catherine Reagor The Arizona Republic May. 6, 2007 12:00 AM Arizona regulators are cracking down on escrow officers for skimming hundreds of thousands of dollars off home sales. via KPNX-TV Phoenix
Extreme Makeover at HouseValues
Maybe SOLD is the perfect ticker symbol for HouseValues . The online provider of Realtor marketing opportunities struggled in its latest quarter, posting a loss of $0.05 a share on a 23% slide in March quarter … via Fool.com
Popularity: unranked [?]
Interactive: How to protect yourself
Mortgage scams come in several varieties. Here are some ways to protect yourself.
The borrower has certain options here; he can refinance for a new loan, sell the home, or start repayment of the new variable or adjustable rates.
This could affect any sales contracts you have negotiated based on the mortgage quote you received.
Spike in foreclosures predicted
Amid continued signs of deterioration in the nations mortgage market, a Congressional panel Wednesday forecast a sharp rise in housing foreclosures, and several Democratic lawmakers called for a federal bailout for borrowers who are at risk of losing their homes. By msnbc.com’s John W. Schoen.
Freddie Mac boss: The worst isnt over yet
The sharp decline of the subprime housing market offering high-cost mortgages hasnt yet hit bottom, the head of home mortgage buyer Freddie Mac said Friday.
On the other hand, a fixed rate mortgage offers the security and consistency of payments and interest rate throughout the term of the loan.
Popularity: unranked [?]
Mortgage Employment Drops
During March, 484,100 people were employed in mortgage lending, according to data released Friday by the Bureau of Labor Statistics. Broker numbers mostly maintained, according to the agency. But people in real estate credit tumbled from the prior month and prior year.
Rates Stable, Apps Edge Up
The 30-year fixed-rate mortgage average was 6.16 percent, according to Freddie Mac’s latest weekly survey. The 30-year yield was unchanged from the prior week, Freddie said. The Mortgage Bankers Association reported a 1 percent increase in loan applications during the latest week.
Big Business Goes Down
Pacific Coast National Bank appointed David L. Adams to lead the Real Estate Industries Group, according to an announcement. Ubs will close its Dillon Read Capital Management hedge fund arm. New Century Financial Corp. could not find a buyer for its loan originations business and will layoff 2,000 workers as a result, a New Century spokeswoman confirmed to Mortgagedaily.com.
Real estate listings are a flexible option for both buyers and sellers as they are time efficient.
Group Targets Argent, Wells
The Housing Advocates Inc. filed an administrative complaint on behalf of a retired housekeeper with both the U.S. Department of Housing and Urban and the city of Cleveland. The housing advocacy group claims Argent Mortgage Co., Wells Fargo Bank and a local mortgage broker targeted predominantly black neighborhoods for predatory loans. But both lenders deny any role in predatory transactions.
Foreclosure Focus Intensifies
New Jersey’s assembly deputy speaker requested its banking department to establish a state-run, toll-free telephone hotline for borrowers facing foreclosure, according to an announcement by the Assembly Democrats. In Massachusetts, the governor directed the bank commissioner to seek delays from mortgage lenders, on a case-by-case basis, for borrower who filed a complaint, the governor’s spokesman told Mortgagedaily.com. U.S. Senator Charles E. Schumer introduced legislation that would give $300 million in federal funds to nonprofit organizations certified by the Department of Housing and Urban Development that specialize in foreclosure prevention, according to an announcement Thursday.
Popularity: unranked [?]
Vacant, for-sale homes grow
The homeowner vacancy rate has hit a record high, and that’s bad news for home sellers.
Yields, annoyances both rise
A survey has found that 63 percent of homeowners are annoyed by a neighbor who doesn’t do what’s necessary to keep the home up and the neighborhood looking good.
The index is one of the most important considerations in choosing an adjustable rate mortgage.
A lender like Enron? Maybe not
The New York Times has a confusing article today that conflates subprime mortgage lender New Century Financial with Enron.
Don’t put yourself in a position of losing a substantial amount of your profit through prepayment penalties if you want to refinance in a year or two or if you sell the property.
The key is to understand the terms of the loan along with the advantages and disadvantages, and make a decision that will allow you to build wealth and achieve financial success.
Popularity: unranked [?]
There are many government programs as well as private or commercial lending programs by sub-prime lenders that help people get into homes and experience the benefits of owning their own home.
Rescap Tumbles
Mortgage loan production was $31.1 billion during the first quarter, Residential Capital Llc’s parent announced Wednesday. Volume tumbled from the prior quarter, the statement said. Nonprime fundings were less than half the level in the fourth quarter and off nearly two-thirds from a year earlier.
Agents find buyers for the sellers and try to maintain a good buyer-seller relationship.
Make sure that you make the best for your money.
Nation One Ceases
Nation One Mortgage Co. said it is immediately ceasing all mortgage originations. The wholesaler promoted itself as a nonconforming lender. Nation One was based in Massachusetts.
Attorneys Guilty in $40 Million Case
A New Jersey attorney has admitted to his involvement in a conspiracy to defraud Flagstar Bank U.S. out of more than $6 million, according to a statement from the U.S. Attorney’s office. An Illinois lawyer has pleaded guilty to charges that he falsified a loan application to get a mortgage from Old National Bank, according to the Department of Justice. Two Atlanta lawyers were convicted in a mortgage fraud scheme that totaled more than $41 million, the U.S. Attorney said.
Popularity: unranked [?]
Dueling reports muddy waters
New houses were sold at an annual pace of 858,000 in March, a 23.5 percent drop from the previous March. Do you think prices also dropped?
Growth down, inflation up
We have an economy that’s slowing down, accompanied by an inflation rate that’s rising. Let’s hope the days of stagflation have not returned.
Most people opt for filing a bankruptcy in order to avoid foreclosure as per legal advice.
Home sales cratered
Home resales plummeted 13 percent in March, compared to the previous March, according to the National Association of Realtors (NAR).
Yields, annoyances both rise
A survey has found that 63 percent of homeowners are annoyed by a neighbor who doesn’t do what’s necessary to keep the home up and the neighborhood looking good.
A lender like Enron? Maybe not
The New York Times has a confusing article today that conflates subprime mortgage lender New Century Financial with Enron.
Popularity: unranked [?]
Home sales cratered
Home resales plummeted 13 percent in March, compared to the previous March, according to the National Association of Realtors (NAR).
It is this primary question you need to ask yourself before heading to the lender to secure a home mortgage loan.
Dueling reports muddy waters
New houses were sold at an annual pace of 858,000 in March, a 23.5 percent drop from the previous March. Do you think prices also dropped?
A lender like Enron? Maybe not
The New York Times has a confusing article today that conflates subprime mortgage lender New Century Financial with Enron.
Growth down, inflation up
We have an economy that’s slowing down, accompanied by an inflation rate that’s rising. Let’s hope the days of stagflation have not returned.
Take action now and stop renting - find the home of your dreams and put your money towards owning it instead.
Popularity: unranked [?]
Hedging your retirement bet
These days retirees get few guarantees. But you can take steps to ensure your money lasts.
Status on America’s retirement
– Workers are taking steps to ensure a secure future, but they need to make bigger strides.
Deductible COBRA payments
COBRA payments remain deductible even if you decline employer-offered health insurance, says Tax Talk columnist George Saenz.
Fame & Fortune: Mariel Hemingway
The actress-author believes in ethical people and companies and feels morally obliged to invest only in companies and people has personal regard for and understands.
Make your house a home.
Give gift cards a personal touch
Think gift cards are too impersonal? Create a special one online for a memorable gift.
Popularity: unranked [?]
Picking between Roth IRA and 401(k)
The choice between the two popular retirement vehicles hinges on whether you expect a higher tax bracket when you retire, says Dr. Don.
If the homeowner can prove that the claim for money is spurious then the homeowner has an opportunity to raise his credit score.
529 money can buy college housing, but …
There are such stringent conditions you’re unlikley to be able to buy that nice home on the edge of the campus, says the College Money Guru.
Ignore arbitration, suits on bankruptcy’s eve
If a debt-related lawsuit or arbitration is filed just before bankruptcy, just ignore the court and let the judgment come because the filing will cancel it, says the Bankruptcy Adviser.
Comparing MMA and savings accounts
Money market mutual funds are usually safe, but they’re not insured, says Dr. Don.
Healthy competition has resulted in keeping the bridging loans interest rate low.
Popularity: unranked [?]
Unplug your cable
Frugal $ense winner Courtney Heins invests the $60 a month she saves on TV and plays music and volunteers during her newfound free time.
Never hurts to ask for a refund
Frugal $ense winner Brenda Miller has no problem asking for a refund when prices drop below what she paid.
Deducting student loan interest
Interest you’re paying on a loan to help attend university could also help cut your tax bill.
Utilize a professional inspector that has been recommended to you by someone who has used them in the last six months.
Want to save money? Don’t shop
A group of friends in San Francisco wanted to reduce waste. They got more than they bargained for.
Mortgage rates that vary or adjust carry a lower interest tag; normally 2%-3% lower than the fixed rates.
Win cash: rewards card + high yield savings
Bankrate’s Frugal $ense winner shares his formula for earning extra money as he spends.
This action should be taken if the homeowner who plans to seek a home equity line of credit has a score less than 640.
Popularity: unranked [?]