Homes And Condos

Something fishy …
A builder transfers $20,000 to a to a mortgage brokerage that it owns to give a borrower a lower rate for a house in a market where prices are expected to decline. Why?

The Fed won’t change rates
The question for the future is what will worry the Fed most — inflation or the housing recession?

New home sales plunge
The market for inexpensive new houses has fallen off a cliff, and the market for expensive new houses is doing OK.

In choosing a mortgage loan for your home you have a choice between an adjustable rate mortgage and a fixed rate mortgage.

Rates respond to full calendar
The word to describe mortgage rates in the last week is: undulating. The economic calendar is full of items that could send bond yields and mortgage rates into an undulating frenzy.

Looking for Fed guidance
What I’m looking for is an acknowledgment that the housing sector is in recession. How will the bond market react?

Popularity: unranked [?]

Over 50% of homes listed for sale do not sell during their listing period, in some markets its’ as high as 65%.

A good mortgage lender will not charge exorbitant fee.

With a national lender you often find diversity in the products offered as well as advanced funding capability.

Popularity: unranked [?]

Investing in gumball machines
This is probably not a very good investment, says Dr. Don.

Mom-in-law’s tax refunds pay ex’s debt
Chances are your mother-in-law is going to need a good accountant to help straighten out this mess, says CPA George Saenz.

How a financial planner is compensated
There are several different ways that planners get paid, says Dr. Don.

If you are hoping to purchase an inexpensive home, a foreclosed property may be the answer.

As the buyer, you have the final word on what choice to make from among the different kinds of mortgages available and the respective mortgage providers.

Failed business can lead to financial ruin
When a couple’s restaurant business fails, the debt and impending judgement can affect the couples entire financial picture.

Do not go by what a mortgage lender claims to be the best mortgage rate.

On the honor system with IRA rollover
Our tax system is based on the principle of the taxpayer’s honesty. However, sometimes the IRS checks with others on what you earned or spent, says CPA George Saenz.

Popularity: unranked [?]

Mortgage Groups Testify
Washington, D.C. — The chairman of the U.S. senate’s Housing, Transportation and Community Development subcommittee said risky subprime mortgages are the catalyst behind reports of an impending avalanche of foreclosures. An executive speaking on behalf of the National Association of Mortgage Brokers urged Congress to adopt uniform national standards for education, testing, and criminal background checks for all mortgage originators. The chairman of the Mortgage Bankers Association told lawmakers that financial education should be a priority, the mortgage process should be simplified and that uniform national standards for mortgage lending with increased consumer protections and more accountability for mortgage professionals including licensing requirements and the establishment of a national registry to help protect against bad actors moving from place to place should be undertaken.

Texas Company Expands Subprime
Oxford Funding Corp. signed a letter of intent to buy Huntington Financial Corp., according to an announcement. The move is part of Oxford’s strategy to broaden its subprime residential mortgage business. Terms of the deal were not disclosed.

The chief disadvantage of an adjustable rate mortgage is the changing payments.

Income, Expenses by Channel
Wholesale Access Mortgage Research and Consulting Inc. released preliminary data from its annual mortgage broker study. The report detailed the mean income and expense levels for a variety of mortgage lending channels. As a share of loan volume, mortgage brokers earned a mean income of 0.82 percent in addition to yield spread premiums, the report indicated.

Fha Violators Settle With Hud
The U.S. Department of Housing and Urban Development posted 13 settlements with Fha mortgagees in a Federal Register Notice Wednesday. One settlement was the result of alleged mortgage fraud on eight Federal Housing Administration-insured loans as well as employing and using unqualified originators. Another settlement with a New Jersey company resulted because of charges it failed to implement and maintain a required quality control plan and failed to ensure an employee worked for no other mortgage companies, the notice indicated.

You need to know which strategies work in what markets and how to recognize economic cycles so you know how to respond to them, because educated investors can profit in real estate regardless of the economy.

States Tackle Fraud with Legislation
Florida’s governor has signed into law a bill that gives borrowers more information about loan fees an adjustable-rate mortgages. Georgia lawmakers have increased regulation of mortgage brokers, according to a Washington law firm that follows the mortgage industry. And in Arizona, a new law makes residential mortgage fraud punishable by up to 10 years in prison.

Popularity: unranked [?]

The term of a home loan is a key factor when it comes to figuring out your total cost.

Pay close attention to the manner in which the seller answers your questions - is he/she acting defensive or trying to hide something?

Popularity: unranked [?]

Major Real Estate Corp Sees Marketing Possibilities In Virtual World

We said several weeks ago that a big believer in the value of Second
Life real estate is the very grounded-to-earth firm of Coldwell
Banker.

We interviewed Charlie Young,
Senior Vice President, Marketing and David Siroty, Director of Public
Relations, Coldwell Banker Real Estate Corporation about the
corporation’s decision to take a stake in Second Life.

Mortgage
News Daily: What drove the decision of Coldwell Banker to make what is
really a pretty radical move?

Read More Now

MBA Delinquency Data Not As Dire As RealtyTrac Reports

On Tuesday RealtyTrac released some pretty scary
numbers relating to foreclosures.

Results of the quarterly National Delinquency Survey conducted by the
Mortgage Bankers Association (MBA) were released on Thursday and
were much less alarmist than the RealtyTrac figures.

According to
Doug Duncan, MBA’s Chief Economist and Senior Vice
President of Research and Business Development, the data is being driven
by circumstances in seven states. “Without these
states…,” Read More Now

Credit Piggybacking - What Will They Think Of Next?

We recently ran across this add on Craigslist:

“BORROW SOMEONE’S CREDIT SCORE WHILE WE FIX
YOURS

You heard me… I’ll get your score up to buy your house or car
now, and
we’ll fix your credit for the future. This is the best
value in town!!!!“

Borrow someone’s credit score? Yup, that’s the deal and apparently it
is legal.

Read More Now

Will Subprime Problems Spill Over Into Conventional Markets?

Two days, two economic forecasts; the first which we reported on
earlier from the National Association of Realtors (NAR) showed a rapid
deterioration in the confidence that association’s economic advisors have
in the near future of the housing industry. Now we have the June Economic
Outlook from Freddie Mac.

Freddie Mac’s monthly offering always has a theme and it is more than
a little disquieting that the motif for June appears to be “not every
house needs to be foreclosed.”

This is really not an overstatement. The Outlook states that, in the
subprime market, 1 in 13 homes are candidates for
foreclosure. It further quotes the….

Read More Now

Housing Starts Slip and Builders Still Glum

Two measures of the housing market were released this
week and each shows that, at best, builders are remaining cautious; at
worst they are showing a bit of despair.

The National Association of Home Builders (NAHB)/Wells Fargo Housing
Market Index (HMI) for June reported that builders’ confidence in the
market reached the lowest point in over 25 years.

NAHB President Brian Catalde said “Builders continue to report serious
impacts of tighter lending standards on current home
sales as well as cancellations, and they continue to…”

Read More Now

Mortgage Rates Continue Upward Spiral

Mortgage rates continued to climb during the week
ended June 7 according to the results of Freddie Mac’s Primary Mortgage
Market Survey.

Frank Nothaft, Freddie Mac vice president and chief
economist commented about the report, “ href="http://www.mortgagenewsdaily.com/mortgage_rates/">Mortgage
rates climbed this week owing to market concerns of a tight labor
force and wage growth. May’s unemployment rate remained at the second
lowest level since May 2001 while average hourly earnings rose.
Additionally…”

Read More Now

You do not have to travel across the United States or around the world to find money making properties that will financially take care of you for the rest of your life.

Popularity: unranked [?]

MBA Delinquency Data Not As Dire As RealtyTrac Reports

On Tuesday RealtyTrac released some pretty scary
numbers relating to foreclosures.

Results of the quarterly National Delinquency Survey conducted by the
Mortgage Bankers Association (MBA) were released on Thursday and
were much less alarmist than the RealtyTrac figures.

According to
Doug Duncan, MBA’s Chief Economist and Senior Vice
President of Research and Business Development, the data is being driven
by circumstances in seven states. “Without these
states…,” Read More Now

Will Subprime Problems Spill Over Into Conventional Markets?

Two days, two economic forecasts; the first which we reported on
earlier from the National Association of Realtors (NAR) showed a rapid
deterioration in the confidence that association’s economic advisors have
in the near future of the housing industry. Now we have the June Economic
Outlook from Freddie Mac.

Freddie Mac’s monthly offering always has a theme and it is more than
a little disquieting that the motif for June appears to be “not every
house needs to be foreclosed.”

This is really not an overstatement. The Outlook states that, in the
subprime market, 1 in 13 homes are candidates for
foreclosure. It further quotes the….

Read More Now

Housing Starts Slip and Builders Still Glum

Two measures of the housing market were released this
week and each shows that, at best, builders are remaining cautious; at
worst they are showing a bit of despair.

The National Association of Home Builders (NAHB)/Wells Fargo Housing
Market Index (HMI) for June reported that builders’ confidence in the
market reached the lowest point in over 25 years.

NAHB President Brian Catalde said “Builders continue to report serious
impacts of tighter lending standards on current home
sales as well as cancellations, and they continue to…”

Read More Now

NAR Forecast Reveals A Wee Bit Of Gloom

The National Association of Realtors has backpedaled
on previous housing forecasts with it U.S. Economic Outlook report for
June released on Wednesday.

NAR has consistently asserted that the housing bubble would
not burst but rather would deflate and, when it happened, there would be
a soft landing. The Economic Outlook report released on January
10, 2007 stated…

Read More Now

Alt-A Lender GreenPoint Mortgage Closes Multiple Offices

As the problems with subprime mortgages continue to work through the
system, GreenPoint Mortgage, a subsidiary of
Capital One Financial has announced it is closing 12 of
its operational centers and some branch offices with the loss of
approximately 440 positions, primarily account executives, underwriters,
and loan processors.

…GreenPoint is not a subprime lender, Ms. Rakes said, but its focus
is the near prime market, largely the sector called
Alt A mortgages.

Read More Now

Mortgage Rates Continue Upward Spiral

Mortgage rates continued to climb during the week
ended June 7 according to the results of Freddie Mac’s Primary Mortgage
Market Survey.

Frank Nothaft, Freddie Mac vice president and chief
economist commented about the report, “ href="http://www.mortgagenewsdaily.com/mortgage_rates/">Mortgage
rates climbed this week owing to market concerns of a tight labor
force and wage growth. May’s unemployment rate remained at the second
lowest level since May 2001 while average hourly earnings rose.
Additionally…”

Read More Now

Major Real Estate Corp Sees Marketing Possibilities In Virtual World

We said several weeks ago that a big believer in the value of Second
Life real estate is the very grounded-to-earth firm of Coldwell
Banker.

We interviewed Charlie Young,
Senior Vice President, Marketing and David Siroty, Director of Public
Relations, Coldwell Banker Real Estate Corporation about the
corporation’s decision to take a stake in Second Life.

Mortgage
News Daily: What drove the decision of Coldwell Banker to make what is
really a pretty radical move?

Read More Now

If the lender wants any money upfront, especially before you’ve been approved for the loan, be very cautious.

Best mortgage rate is really based on your needs and preferences.

You need to choose a loan plan that’s best for you by going can go through bank, through a lender, or a service online.

Popularity: unranked [?]

No major mortgage reform coming this year
Homeowners unable to pay monthly mortgage bills and facing foreclosure shouldnt count on help from Washington this year. Regulators and lawmakers seem to be taking a wait-and-see approach as they confront the fallout from several years of lenders making too many home loans to people with inadequate credit.

Make sure you set a price that is grounded on facts.

Mortgage foreclosures rise to record
As the U.S. housing market continues to slog through a hangover from its post-Millennium boom, the latest data on mortgage foreclosures provide fresh evidence that the slow-motion unwinding of the easy-money mania is still underway.

Pending home sales index drops
Pending sales of existing homes dropped by 3.2 percent in April, compared with the previous month, a real-estate trade group said Friday. Wall Street had been anticipating a slight increase.

Popularity: unranked [?]

When homes shoppers first pull up in front of a home for sale, they make up their minds in SECONDS whether to get out of their comfortable vehicle or drive on.

Freddie Business Strong
Secondary mortgage purchases were $51 billion during May, Freddie Mac reported Friday. Business climbed from April, the report indicated. And compared to a year earlier, business reportedly soared, Freddie said.

Prime Wholesale Programs Tighten
The availability of high loan-to-value mortgages appears to be rapidly eroding in 2007, according to a mortgage broker survey from Campbell Communications. The tightening of Ltvs is occuring even in the prime market, the report indicated. Citimortgage and Countrywide were cited as wholesale lenders that are using tighter guidelines to reduce risk.

Arm Attraction Amplifies
The average 1-year Treasury-indexed adjustable-rate mortgage tumbled to 5.7 percent, according to Freddie Mac’s latest weekly survey. The difference between the 1-year Arm and the 30-year fixed rate has widened each week since May 24, according to Freddie’s data. As a result, the share of Arm applications has also risen each week since then.

Avoiding Mortgage Fraud
A Federal Deposit Insurance Corp. report outlined what lenders can do to protect themselves from mortgage fraud. The Fdic recommended that lenders establish a system to monitor concentration risk by broker. Lenders can mitigate loan document fraud with periodic loan file sampling to spot fraudulent practices, periodic credit checks on existing employees, structure compensation agreements to include loan quality as a contributing factor, and institute adequate internal reporting procedures.

A variable rate of mortgage has fixed rate of interest for a fixed period of time that is bound to change in future.

Mortgage Law Update
The National Association of Mortgage Brokers announced Thursday it promoted Nikita M. Pastor to vice president and counsel, government affairs. NovaStar Financial Inc. settled a lawsuit for $5.1 million over allegations it failed to disclose yield-spread premium. Ameriquest Capital Corp. has settled a lawsuit filed by its former president.

Or quite possible, theyve realized that borrowers seeking a bad credit mortgage refinance are just as much a profitable market as customers with more favorable credit.

Popularity: unranked [?]

Losing cash to business taxes
When a business builds up its capital through earnings, part of the earnings disappear to taxes if not reinvested in the business before the end of the tax year, says CPA George Saenz.

New retirement savings rates
American workers have been charting their retirements without the benefit of a compass. A new study provides savings rates that can be utilized by the masses.

Whether you use paid legal, or have an attorney that you work with closely all the time, get a good, and yes, expensive attorney to get the job done right the first time.

By paying off your credit cards each month, your score rises.

Refinancing to make ends meet
If you’re selling the house in one year, it doesn’t make much sense, says Dr. Don.

Don’t lie when filing for bankruptcy
A consumer who filed for bankruptcy but didn’t reveal the existence of one credit card gets an earful from the Bankruptcy Adviser.

Popularity: unranked [?]

What you want is different from what you need, so be practical.

Firm chosen to market Port of Port Royal

“We’ve cut across railroad tracks and gone through the woods.”

The choice of a nationally affiliated real estate agent by the S.C. State Ports Authority and the Town of Port Royal is the latest attempt to sell the Port of Port Royal to a private developer. via Island Packet

jackson hole wyoming vacation home at wyomingwebworks.org

Bill and Joyce Anderson are your one-stop source for real estate services in Nevada County, California. via Wyomingwebworks.org

Captain’s Cove gets new Marina Club

GREENBACKVILLE - Can a sprawling residential and golf development truly become an island unto itself? If developers Bob Warfield and Hal Glick have their say, the Captain’s Cove community will become a … via The Daily Times

Popularity: unranked [?]

Trading in a hybrid car for a new one
I can’t find any tax provision that says you’ll have to pay back the tax credit you claimed in 2006, says CPA George Saenz.

Don’t lie when filing for bankruptcy
A consumer who filed for bankruptcy but didn’t reveal the existence of one credit card gets an earful from the Bankruptcy Adviser.

Keep the mortgage or pay off the house?
Should you use your nest egg to pay off the mortgage or keep the tax deduction? Bankrate does some eye-opening math to help you with retirement questions.

After getting required information about them select one or two finalists from them.

Redeem or reinvest savings bonds?
What they pay depends on when they were issued, says Dr. Don.

Popularity: unranked [?]

In general, while most agents in the larger cities have access to a large volume of real estate information over a wide area, it is next to impossible for an agent to know everything of importance about every neighborhood and property in the city.

Housing slump hits economy

“While we don’t see any calamitous implosion of home prices in the near future, this pattern of flat to slight falling prices and weak sales volumes will be the norm for some time to come”

California home sales will remain weak and prices flat or slightly down overall through late 2008, translating into a sluggish economy, weaker job growth and a rise in unemployment, according to a new economic … via Press-Telegram

Student loans are two-edged swords.

North Dakota Land Sale Under Fire

“It doesn’t sound like legally they can do that _ I would think that they would have to open it up for everybody because it is public land”

Less than two months after the U.S. Forest Service completed the purchase of an historic Badlands ranch as part of a $5.3 million deal, questions are being raised about a related land sale.

The government had said it would balance the acquisition of the 5,200-acre Blacktail Creek Ranch in western North Dakota by selling an equal number of acres of the 1.2 million acres it owns throughout the state.

But the Forest Service’s subsequent plan to sell the promised 5,200 acres to about 40 ranchers in Billings County _ and only to ranchers in that county _ has come under fire. Read more

Homes for Sale

Sponsored listings for Homes For Sale: Browse Millions of U.S. Listings Start Your Home Search Today. via Ez1057.com

Popularity: unranked [?]

Retirement saving vs. loan payment
It’s a good idea to start saving for retirement when you’re young, says Dr. Don.

not want to consider an adjustable rate mortgage for the simple reason that the risk of the interest rate being higher is greater than it is being lower.

Banrate Inc.What’s bad about municipal bonds?
Well, for one thing the yields are usually quite low, says Dr. Don.

Managing mom’s sudden windfall
The sale of your mom’s hurricane-ravaged property shouldn’t be subject to capital gains taxes, says CPA George Saenz. The money could be invested in CDs or bonds.

1 late payment triggers 21% rate increase
On a $5,000 credit card debt, a 29.9 percent penalty rate can add $1,500 in interest payments, says the Debt Adviser.

Wealthy boyfriend to pay off house
Unless the boyfriend is trying to deduct the home payoff to you as a business expense, I can’t see why the perfect gift should make him worry about a tax audit, says CPA George Saenz.

Popularity: unranked [?]

Sterling Centrecorp Inc. receives final approval of plan of arrangement

Sterling Centrecorp Inc. receives final approval of plan of arrangement Listed TSX: SCF TORONTO, June 14 /CNW/ - Sterling Centrecorp Inc. via Canada NewsWire

A Mortgage makes it easier to buy a house, but bad credit can make it difficult for you to get a mortgage.

Agent finds buyers for the sellers and tries to maintain a good buyer-seller relationship.

Having It Both Ways With REITs

Shorting REITs requires an iron constitution. In the last 12 months REIT prices are up 17% and over the past five years the iShare Dow Jones REIT Index has nearly doubled. via Forbes

Report cites housing gap

“There are programs there for people that are in dire need of housing”

It’s time for Columbia to get creative, the city’s Affordable Housing Policy Committee said. via Columbia Daily Tribune

Popularity: unranked [?]

A neat landscape, a manicured lawn, trees, and flowers bring peace and relaxation to the buyer.

Popularity: unranked [?]

What’s bad about municipal bonds?
Well, for one thing the yields are usually quite low, says Dr. Don.

One way you save thousands by listing your home on flat fee MLS listing is that you can avoid paying the local newspaper, real estate channel on cable, or real-estate papers from your neighborhood to have your properly listed.

There are many advantages and disadvantages to choosing an adjustable rate mortgage when you are shopping for a home.

In most cases, the first interest rate review occurs at one, three or five years into the life of the loan.

Wealthy boyfriend to pay off house
Unless the boyfriend is trying to deduct the home payoff to you as a business expense, I can’t see why the perfect gift should make him worry about a tax audit, says CPA George Saenz.

1 late payment triggers 21% rate increase
On a $5,000 credit card debt, a 29.9 percent penalty rate can add $1,500 in interest payments, says the Debt Adviser.

Retirement saving vs. loan payment
It’s a good idea to start saving for retirement when you’re young, says Dr. Don.

Managing mom’s sudden windfall
The sale of your mom’s hurricane-ravaged property shouldn’t be subject to capital gains taxes, says CPA George Saenz. The money could be invested in CDs or bonds.

Popularity: unranked [?]

Mortgage Rates Climb For Third Straight Week

Longer term mortgage rates hit 2007 highs during last
week according to the results of Freddie Mac’s Primary Mortgage Market
Survey. With the exception of the one-year adjustable rate mortgage (ARM)
rates have gone up 20 or more basis points in the last two weeks.

“Interest rates on fixed-rate mortgages increased further this week
following stronger growth in orders for durable goods,” said
Frank Nothaft, Freddie Mac vice president and chief
economist. “Recent reports have indicated that…

Read More Now

Another benefit of this means of taking out money is that consumer credits interests are tax deductible.

Alt-A Lender GreenPoint Mortgage Closes Multiple Offices

As the problems with subprime mortgages continue to work through the
system, GreenPoint Mortgage, a subsidiary of
Capital One Financial has announced it is closing 12 of
its operational centers and some branch offices with the loss of
approximately 440 positions, primarily account executives, underwriters,
and loan processors.

…GreenPoint is not a subprime lender, Ms. Rakes said, but its focus
is the near prime market, largely the sector called
Alt A mortgages.

Read More Now

Home Prices Show Positive Growth But Slowest In Ten Years

It’s not exactly like waiting for Christmas or the first day of summer
vacation, but we do look forward to the release of our favorite housing
report each quarter; the Office of Federal Housing Enterprise Oversight
(OFHEO) House Price Index.

The HPI for the first quarter of 2007 was released on Thursday and
showed a price appreciation that was 0.5 percent higher
than in the fourth quarter of 2006. This is the lowest quarterly
appreciation recorded since…

Read More Now

Nothing Wrong With Buying A Flip As Long As It Is A Good One

Flips are beginning to crowd the market as home sales slow. Investors
who mistimed the market are finding that it is taking
much longer than they planned to resell their property. Some who bought
with the idea of renting for a few years to allow some natural
appreciation are seeing their adjustable rate mortgages
resetting to levels incompatible with the local rental market.

So why should a buyer care if it is a flip?

Read More Now

NAR Forecast Reveals A Wee Bit Of Gloom

The National Association of Realtors has backpedaled
on previous housing forecasts with it U.S. Economic Outlook report for
June released on Wednesday.

NAR has consistently asserted that the housing bubble would
not burst but rather would deflate and, when it happened, there would be
a soft landing. The Economic Outlook report released on January
10, 2007 stated…

Read More Now

Popularity: unranked [?]

Win cash: rewards card + high yield savings
Bankrate’s Frugal $ense winner shares his formula for earning extra money as he spends.

Overspending? Try a 7-day challenge
If you’d like to get a handle on your spending habits, all it takes is a small notepad and a bit of determination.

Each and every day, hundreds of people get cheap homes by negotiating with real estate agents.

Save money and the earth
Recycle plastic jugs to grow vegetables says the winner of the latest Frugal $ense contest.

7 ways to slash commuting costs
With the costs of fuel and insurance soaring, it’s time to take a second look.

15 ways to save money on gas
Save on fuel costs with these easy tips.

Generally real estate agents don’t work as lawyers for the parties but they provide the best services for the sellers as well as buyers.

Popularity: unranked [?]

National City Business Holds
National City Corp. reported $6 billion in overall residential originations during May. The figure was unchanged from April, according to the report. Mortgage volume was, however, better than in May 2006.

Fha, Subprime Delinquency Diverge
Residential delinquency ended the first quarter at a seasonally adjusted rate of 4.8 percent, the Mortgage Bankers Association reported Thursday. Subprime delinquency jumped 44 basis points, according to the first quarter data. Fha delinquency tumbled 131 basis points.

Real estate is fixed on a given spot and is influenced by not only where it is, but also what it is and what is around it.

Rates Soar
The 30-year fixed-rate mortgage average soared 21 basis points from its level a week earlier, Freddie Mac’s latest survey of mortgage-lending companies, thrifts and commercial banks showed. The 15-year was also 0.21 percent higher than last week, Freddie reported. Even adjustable-rate mortgages were higher — though not jumping as much as fixed rates.

The ideal loan is one that has an index that has historically remained stable.

Debt Ratios Decline
In the first quarter, decreased growth in mortgage debt played a role in the movement of several indicators of housing financial conditions, according to a report released Wednesday by the Financial Market Center. Household net worth grew at a “relatively restrained” rate. Household debt-service ratios decreased at the end of March from yearend 2006.

To protect the rights of both the buyer and the seller, you should each have your respective attorneys review any sales agreements.

400 Layoffs at Lehman Unit
Bnc Mortgage Llc will lay off 400 people, a spokesman for the company’s parent told Mortgagedaily.com. The company will be merged with another subsidiary, he said. The job cuts are a result of the way Bnc is organized, he noted.

Popularity: unranked [?]

New company has no 401(k). What now?
Roll the former employer’s account over into an IRA, says Dr. Don.

Identifying property for a like-kind exchange
Under the law you have 45 days after closing on your property to identify a replacement property, says CPA George Saenz.

Where to invest emergency fund
A money market account or money market mutual fund is fine, says Dr. Don.

There is a risk of the interest rate being considerably higher when the mortgage comes up for an interest rate review.

Ongoing illness, big bills and bankruptcy
It’s tricky, says the Bankruptcy Adviser: Lengthy illness can push people into bankruptcy, but they still need treatment from the same people who are dunning them.

Popularity: unranked [?]

Mortgage rates jump to a 10-month high

Rates on 30-year mortgages rose for a fourth straight week this week, hitting the highest level in 10 months, as bond markets responded to strong employment growth.

A good commercial real estate attorney can keep your business, investments and personal assets safe from any problems that might arise.

Pulte Homes cutting 1,900 jobs
Facing a grim housing market, Pulte Homes Inc. said Tuesday that it is cutting about 16 percent of its work force, or about 1,900 jobs, as part of a restructuring.

Fremont selling loan unit for $1.9 billion
Fremont General Corp., said on Tuesday it had agreed to sell its commercial real estate lending business to iStar Financial Inc. for about $1.9 billion, sending its shares soaring.

Spring looks like a washout for housing market

April is supposed to be one of the best months for the U.S. real estate industry, when builders and real estate agents gear up for the busy Spring selling season. But this year, its turning out to be one of the worst on record. By MSNBC.com’s John W. Schoen

Hamptons housing gets Wall Street bounce

With a booming economy and record-setting highs nearly every day on Wall Street, the real estate trade in the Hamptons couldnt be better. And money appears to be no obstacle. Houses are routinely selling for $10 million to $15 million, and people dont think twice about shelling out $200,000 for a summer rental thats Memorial Day to Labor Day.

Existing home sales fell in April

Sales of existing homes fell more than expected in April while prices slid for a record ninth consecutive month, indicating further troubles ahead for the housing market.

Mortgage Mess front page

When purchasing any property, ensuring full legal rights to the property is essential.

Popularity: unranked [?]

Mortgage Rates Climb For Third Straight Week

Longer term mortgage rates hit 2007 highs during last
week according to the results of Freddie Mac’s Primary Mortgage Market
Survey. With the exception of the one-year adjustable rate mortgage (ARM)
rates have gone up 20 or more basis points in the last two weeks.

“Interest rates on fixed-rate mortgages increased further this week
following stronger growth in orders for durable goods,” said
Frank Nothaft, Freddie Mac vice president and chief
economist. “Recent reports have indicated that…

Read More Now

New Home Sales Jump In April

According to figures released on Thursday by the Department of Housing
and Urban Development and the U.S. Census Bureau, new house
sales in April showed the first improvement of the year, and a
substantial one at that.

The National Association of Realtors is expected to release figures
for April sales of existing homes at the end of the
week.

Read More Now

Home Prices Show Positive Growth But Slowest In Ten Years

It’s not exactly like waiting for Christmas or the first day of summer
vacation, but we do look forward to the release of our favorite housing
report each quarter; the Office of Federal Housing Enterprise Oversight
(OFHEO) House Price Index.

The HPI for the first quarter of 2007 was released on Thursday and
showed a price appreciation that was 0.5 percent higher
than in the fourth quarter of 2006. This is the lowest quarterly
appreciation recorded since…

Read More Now

House Reviews on Redfin Shutdown By MLS

There is some additional news and a bit of a sidebar to the story
about the 60 Minutes feature on Redfin a week or so ago
and the strong reaction of the National Association of
Realtors to that story. The run-up can be href="http://www.mortgagenewsdaily.com/5162007_Discount_Real_Estate.asp">
read here.

Read More Now

Luring perspective buyers to your home does not have to be a challenging task.

Beware of real estate firms that claim to work for both sellers and buyers; they tend to charge commissions from both sides, so that you end up paying more, and the seller profits less.

Nothing Wrong With Buying A Flip As Long As It Is A Good One

Flips are beginning to crowd the market as home sales slow. Investors
who mistimed the market are finding that it is taking
much longer than they planned to resell their property. Some who bought
with the idea of renting for a few years to allow some natural
appreciation are seeing their adjustable rate mortgages
resetting to levels incompatible with the local rental market.

So why should a buyer care if it is a flip?

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Mortgage Rates Surge While Applications and Refinancing Weak

Maybe it is just temporary, but it looks like the worm - that is the
mortgage interest rate version of it - has finally
turned.

Freddie Mac’s Primary Mortgage Market Survey for the previous week had
some pretty heart-stopping data for those who may have hoped for
continued low rates. However, this is similar to a
pattern begun just about a year ago when rates moved into the
high 6.80 percent range over a three month spring and summer period only
to reverse and achieve a long term run in the 6.06-6.20 percent range.
Who knows where it will go this time…

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