Homes And Condos

The lender is freer to offer a lower interest rate on an adjustable rate mortgage because they do not have to guarantee the interest rate for the life of the loan, only until the first interest rate review.

Choosing the best mortgage rate for yourself, starts with choosing what type of mortgage rate (fixed or adjustable) is more suited to you.

Tough times for home builders
Census Bureau reports show that 110,400 houses were started in October. Compare that to the 130,600 houses that were started in October 2006, for a 15 percent drop year-over-year.

Yields bounce back
Bond yields bounced back a bit yesterday. Freddie Mac’s 30-day required net yield rose 9 basis points, after falling 15 basis points on Monday. The 10-year Treasury rose 12 basis points, after falling 18 basis points on Monday.

Full economic calendar
Lots of stuff on the economic calendar this week.

Downgrades and foreclosures
Goldman Sachs has downgraded Citigroup because of potential write-downs in collateralized debt obligations.

Downgrades and foreclosures
Goldman Sachs has downgraded Citigroup because of potential write-downs in collateralized debt obligations.

Popularity: unranked [?]

Many peoples homes end up in foreclosure because they were unable to make their mortgage payments when interest rates increased.

Plans that offer low monthly payments during the draw period may require a balloon payment at the end of the loan period requiring the entire remaining balance to be paid.

Mystery cash in bank account not yours
When a store accidentally deposits cash in your bank account, the money is not yours, says Dr. Don Taylor.

Rebalancing investments in your IRA
In rebalancing your portfolio, you can still keep your retirement money in a tax-favored account, says CPA George Saenz.

Car shipped overseas may escape U.S. tax
Sales tax may not be owed on a car bought in the United States but driven in Europe, says Bankrate car columnist Terry Jackson.

Does your child suffer from affluenza?
Too much of the good things can be a bad thing for your kids.

Rebalancing investments in your IRA
In rebalancing your portfolio, you can still keep your retirement money in a tax-favored account, says CPA George Saenz.

Popularity: unranked [?]

Unless the mortgage lender is a national lender that operates across several states, you should avoid using that particular lender.

If you are planning to sell a property, you can have your property listed in various real estate listings.

The more money you put down on a home when you purchase, the lower your monthly payments will be.

Do children owe tax on death benefit?
CPA George Saenz advises a reader on when to pay taxes on Social Security survivor benefits.

Benefits of trusts
There are plenty of reasons to choose trusts over wills, including avoidance of taxes, retention of control, safeguarding privacy and more.

Take 401(k) match instead of paying debt
Borrowing from a 401(k) is often unwise, especially if it keeps you from contributing to your account, Dr. Don Taylor says.

8 types of trusts for everyday people
They’re not only for wealthy folks. Trusts serve many purposes. Most importantly, they ensure that the right people end up with your money.

Can you afford extreme early retirement?
Some folks retire in their 30s and 40s even though they’re not rich. With discipline and focus, you can buck the mainstream and do the same.

Popularity: unranked [?]

You should assess the risk of this happening to you before choosing one type of mortgage or the other.

Should dad pay bankruptcy debt?
Co-signer’s legal obligation in Chapter 7 depends on state statute, says the Bankruptcy Adviser.

Ex may get benefit before former spouse
A woman may be eligible to collect Social Security even before her ex receives his benefit, says Dr. Don Taylor.

Filing jointly saves taxes
Two is better than one for tax purposes, says CPA George Saenz.

Check rules before rolling over to Roth
Your income helps determine whether or not you are eligible to convert your traditional IRA into a Roth, says Dr. Don Taylor.

$100 fill-up coming to pump near you
Whether you own an SUV or a compact, get ready for a major price shock at the local gas pump, says Bankrate car columnist Terry Jackson.

Popularity: unranked [?]

Another advantage of an adjustable rate mortgage is present when there is a high interest rate market at the time that you are looking for a mortgage.

The third option is the Graduated Repayment Plan.

Check rules before rolling over to Roth
Your income helps determine whether or not you are eligible to convert your traditional IRA into a Roth, says Dr. Don Taylor.

Ex may get benefit before former spouse
A woman may be eligible to collect Social Security even before her ex receives his benefit, says Dr. Don Taylor.

Should dad pay bankruptcy debt?
Co-signer’s legal obligation in Chapter 7 depends on state statute, says the Bankruptcy Adviser.

Popularity: unranked [?]

These intervals of time vary from monthly to yearly to 3-yearly or 5-yearly.

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

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

Zillow to Nationalize Local Real Estate Advertising

No matter what you may think about Zillow, the
Seattle-based real estate firm and its somewhat crazy approach to the
market, credit must be given for its constant innovation.

On Tuesday it announced that it was joining 11 major newspaper
publishing companies with a combined total of 282
newspapers throughout the country in a strategic partnership to
extend the papers’ local classified advertising to Zillow’s online
platform.

Advertisers in these papers, whether sellers or real estate agents,
will have the option of…

Read More Now

E-Trade Suffers Subprime Wrath

It has long since passed the point where the downgrade of a company’s
credit rating or an announcement of reduced earnings because of problems
with mortgages or with mortgage-backed securities stuns anyone. However,
on Monday there were particularly dire warnings about
E-Trade, the on-line brokerage firm, which is apparently
heavily invested in sub-prime mortgages in its own
portfolio.

Read More Now

GSEs Reported Losses Mean They Are Not the White Knight Some Had Hoped

Some of the financial world may be hoping that Freddie
Mac and Fannie Mae are at least part of the
solution to the sub prime mess, but the two government sponsored
enterprises (GSEs) seem to have a propensity for getting into plenty of
trouble on their own.

Then James Lockhart, director of the Office of
Federal Housing Enterprise Oversight which regulates Fannie and Freddie
told CNBC television that the two GSEs should…

Read More Now

Popularity: unranked [?]

Never use just one source for the current mortgage rate.

The worst home in the worst area at the right price will sell.

Another way that lenders can make up for the lower mortgage down payment is through requiring you to pay private mortgage insurance.

Downgrade Nightmare Continues
Moody’s Investors Service announced it downgraded Homecomings Financial LLC’s prime servicer quality ratings to SQ2. Moody’s said higher-than-anticipated rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels led to downgrades on 79 tranches and placement on review for potential downgrade for 17 tranches from several Countrywide Alt-A loan-backed deals. Fitch Ratings lowered the ratings on over $31 million in classes of subprime loan-collateralized Countrywide Asset-Backed Securitizations mortgage pass-through certificates.

ResCap Scrambling to Survive
Residential Capital LLC warned that its net worth may require a capital contribution from its parent to maintain compliance with consolidated tangible net worth covenants contained in its credit facilities, according to a filing with the Securities and Exchange Commission Wednesday. The Minneapolis-based company also said it commenced a cash tender offer for a series of notes. ResCap said its parent is currently negotiating other strategic alternatives, including "potential acquisitions as well as dispositions, alliances, and joint ventures with a variety of third parties with respect to some or all of ResCap’s businesses."

Retail Rules
In Fort Worth, Texas, the Lancaster Shopping Center secured a $0.6 million first mortgage funded by Government Personnel Mutual Life Insurance Co., NorthMarq Capital Inc. said. StanCorp recently provided a $4.0 million mortgage for a Gold’s Gym of 12,770 square feet in Miami Beach, Fla., Thomas D. Wood and Co. reported. A Burger King/Chevron Mini Mart secured a $0.7 million 25-year first mortgage with 25-year amortization, Minnesota-based NorthMarq said.

Popularity: unranked [?]

If the real estate agent cannot secure a sale within a time acceptable to the vendor, the vendor may take the property off the market, or away from the real estate agent’s agency.

Pay cash, get a discount
It’s amazing the deals you can get with a wad of dollar bills in your hand.

Gas-saving devices mostly a scam
Government tests show most gadgets don’t do a thing to help improve mileage.

Dealing with a product recall
Was something you bought recalled? Would you know and what do you do?

Healthy Halloween on a budget
10 cheap (and healthy) treats to fill the bags of the little ghosts and goblins.

How to freeze soaring home heating bills
Heating costs are expected to soar this winter, but you can control your monthly bill by making these energy-efficient moves.

Popularity: unranked [?]

Unfinished homes may have other planned on additions as well, in which you can save a lot of money just by leaving them out.

Getting any form of loan is usually considered a very last resort and where possible, you should seek advice on how all household debts could be cleared before applying for any form of home debt consolidation loan.

There are many advantages and disadvantages to choosing an adjustable rate mortgage, and it is important to weigh both the pros and cons before deciding on an adjustable rate mortgage as opposed to a fixed rate mortgage.

Use investments to reach your goals
Before you can fine-tune your investments, you have to determine your goals, risk tolerance and time horizon, and stay in touch with your dreams.

6 tips for savvy holiday shipping
Here’s how to determine what shipping options will get your gifts to their destination safely, on time and without busting your budget.

Popularity: unranked [?]

Your lawyer can do a title search on your home to make sure it’s free of encumbrances that may only turn up on closing, like an encroachment.

One basic characteristic a real estate investment has is that the payment can be amortized for a longer period of time on an installment basis.

Look at the condition of the property, think on the lines like, will it be part of any future expansion - next is to see whether it will satisfy your return requirements.

E-Trade Suffers Subprime Wrath

It has long since passed the point where the downgrade of a company’s
credit rating or an announcement of reduced earnings because of problems
with mortgages or with mortgage-backed securities stuns anyone. However,
on Monday there were particularly dire warnings about
E-Trade, the on-line brokerage firm, which is apparently
heavily invested in sub-prime mortgages in its own
portfolio.

Read More Now

Zillow to Nationalize Local Real Estate Advertising

No matter what you may think about Zillow, the
Seattle-based real estate firm and its somewhat crazy approach to the
market, credit must be given for its constant innovation.

On Tuesday it announced that it was joining 11 major newspaper
publishing companies with a combined total of 282
newspapers throughout the country in a strategic partnership to
extend the papers’ local classified advertising to Zillow’s online
platform.

Advertisers in these papers, whether sellers or real estate agents,
will have the option of…

Read More Now

Housing and Credit Woes Continue to Weigh on Wall Street

The stock market by mid-day on Monday was heading toward another hefty
loss and analysts were blaming - what else - fallout
from the sub-prime market for the bearish behavior of investors.

Two big housing related corporations seemed to be
causing most of the concern, but there were ancillary contributions from
an overseas corporation and from the National Association of Home
Builders…

Read More Now

Housing Starts? Hold the Applause!

The national media was trumpeting the good news about housing
start data released Tuesday morning by the Census Bureau and the
Department of Housing and Urban Development, but it is not clear exactly
what they were cheering about.

Read More Now

HR 3915 - Getting Warmer

The reason 3915 makes me so incensed is that it will still harm those
who it professes to protect. I could care less about what you think
CAUSED the CRISIS. If you are focused on blame, like
Ralph Roberts and Barney Frank, you are missing the big picture…

Now we get to the hardball… This may shock and amaze
you. This may be the most radical thing that anyone has ever
suggested, but I just have to say it. I may be shunned for all eternity
for suggesting something so radical, but it has to be done. No more
stalling, here goes nothing:

Read More Now

PMI Insurers May Owe Thanks To Piggy-Back Mortgages

It is one of the small ironies of the subprime crisis
that the very competition that private mortgage insurers thought was
ruining their bottom line may have actually saved their hide.

Just a little over two years ago - href="http://www.mortgagenewsdaily.com/892005_Piggyback_Loans.asp">August
9, 2005 to be exact - we wrote about the panic in the headquarters of
many companies that write private mortgage insurance (PMI) as they
watched their revenues decline as more and more homebuyers caught on to
the utility of “piggy back” mortgages.

Well, talk about dodging a bullet…

Read More Now

Lending Survey Indicates Tightened Standards, Lower Demand

The Federal Reserve has released the October 2007 Senior Loan
Officer Opinion Survey on Bank Lending Practices which addresses
changes in the supply of and demand for bank loans both to businesses and
consumers over the previous three months which, we presume, corresponds
to the third quarter of 2007.

Banks were asked separately about
changes in credit standards and demand for prime,
nontraditional, and subprime residential mortgages. The report summarizes
responses from 52 domestic banks and 22 foreign banking institutions, a
respondent pool which accounts for the majority of the bank lending in
the country…

Read More Now

Popularity: unranked [?]

Many features of fixed rate of mortgage and variable rate of mortgage are also present in balloon rate mortgage.

Real estate commissions by law are negotiable.

If you have decided to sell your home, you have probably realized that there is more than one way to go about it.

Retail Rules
In Fort Worth, Texas, the Lancaster Shopping Center secured a $0.6 million first mortgage funded by Government Personnel Mutual Life Insurance Co., NorthMarq Capital Inc. said. StanCorp recently provided a $4.0 million mortgage for a Gold’s Gym of 12,770 square feet in Miami Beach, Fla., Thomas D. Wood and Co. reported. A Burger King/Chevron Mini Mart secured a $0.7 million 25-year first mortgage with 25-year amortization, Minnesota-based NorthMarq said.

Rates Reach 6 Month Low
The 30-year fixed-rate mortgage averaged 6.2%, Freddie Mac said its latest Primary Mortgage Market Survey showed. The 30-year fell from the prior week but was slightly higher than a year ago. "This allowed interest rates for the 30-year FRM to decline to the lowest levels since early May 2007," Freddie’s chief economist said in the announcement.

Downgrade Nightmare Continues
Moody’s Investors Service announced it downgraded Homecomings Financial LLC’s prime servicer quality ratings to SQ2. Moody’s said higher-than-anticipated rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels led to downgrades on 79 tranches and placement on review for potential downgrade for 17 tranches from several Countrywide Alt-A loan-backed deals. Fitch Ratings lowered the ratings on over $31 million in classes of subprime loan-collateralized Countrywide Asset-Backed Securitizations mortgage pass-through certificates.

ResCap Scrambling to Survive
Residential Capital LLC warned that its net worth may require a capital contribution from its parent to maintain compliance with consolidated tangible net worth covenants contained in its credit facilities, according to a filing with the Securities and Exchange Commission Wednesday. The Minneapolis-based company also said it commenced a cash tender offer for a series of notes. ResCap said its parent is currently negotiating other strategic alternatives, including "potential acquisitions as well as dispositions, alliances, and joint ventures with a variety of third parties with respect to some or all of ResCap’s businesses."

Servicers Accused of Overstating Loan Balances
Servicers, whose loyalty lies with investors of mortgage-backed securities, have financial incentives to overcharge borrowers, according to a recent paper authored by a University of Iowa associate professor of law. The professor said her research uncovered a number of illegal or unreasonable fees that servicers tried to collect. "Based solely on the Mortgage Study sample of approximately 1,700 loans, millions of dollars may be overpaid to mortgagees," she wrote. "On an aggregate basis, the discrepancies between debtors and mortgagees are a multi-billion dollar problem."

Popularity: unranked [?]

An assessment of “hard and soft” value adding should be calculated before you buy and not after the deal is done.

When you know the inside and out of the processes that take place with a certain type of property, know what hidden things to look for, and what mistakes to avoid, you are less likely to run into problems, and will generate positive, long lasting results.

Useful information about the real estate market is available online as well as offline.

Roulette Economy’ of 2007 Nearly Over, Realtors Told

“Real estate practitioners have traditionally worked with first-time buyers. Think of these people as last-time buyers”

‘ “2007 has been a year of challenge; 2008 will be a year of opportunity for serious buyers and for REALTORS ,” NAR Chief Economist Lawrence Yun told a packed house at the NAR Conference Nov. via Cape May County Herald

Realestate.com launches assault on Asian market

“Here is a market that is massively vibrant. There’s a lot of construction, a lot of development happening there. And the people who are buying these are from overseas, not from Dubai.”

ONLINE property classified leader Realestate.com.au has commenced a major assault on the Asian online real estate market, using two newly launched websites in Hong Kong and Dubai as a linchpin to expand in the … via The Australian

1031 Qualified Intermediaries and Tenants in Common - Some Facts to Consider

Qualified Intermediaries (QIs) all over the country are inviting real estate investors involved in or considering a 1031 exchange to put their funds into a Tenants in Common (TIC). They’re placing ads in the newspapers. They’re holding seminars. Why do the QIs have all this interest in TIC?

Top 10 Foreclosure Markets for 2007

With nationwide foreclosures on the rise, many investors are looking to pick up properties for less than market value. But investors need to study before committing to buying a foreclosed property just because it’s a great deal…

Impac’s stock plummets to all-time low 6:48PM ET

“As we continue to manage through this unprecedented real estate and mortgage business environment, we will do what is necessary to maintain the viability of the Company and in the best interest of our stockholders”

Shares of Impac Mortgage Holdings Inc. plummeted to their lowest level ever — 66 cents — Monday after the beleaguered mortgage lender warned it lost an inestimable amount of money in the third quarter. via BusinessWeek

Popularity: unranked [?]

The only difference between your flat fee listing and the realtor listing is that you get listed with zero service.

N.C. Congressional Members Raised $$$ Millions

The state’s 13 members of Congress raised $17 million during the 2006 election with nearly half provided by political action committees that represent real estate agents, unions and other groups, according to a … via WBT-AM Charlotte

House Passes Bill Curbing Mortgage Brokers

The House passed legislation to give more protection to home-mortgage borrowers, but deadlocks in the Senate make it unlikely that such a measure can be enacted into law before next year, in the latest sign Congress is struggling to address the nation’s mortgage crisis…

Home Sales Declined in 46 States in 3Q

“Home prices in the vast midsection of America, from the Appalachians to the Rockies, are affordable and, perhaps, even undervalued.”

Sales of existing homes fell in 46 states during the July-September quarter as the housing market’s slump worsened, a real estate trade group reported Wednesday. via The Morning Call

Impac’s stock plummets to all-time low 6:48PM ET

“As we continue to manage through this unprecedented real estate and mortgage business environment, we will do what is necessary to maintain the viability of the Company and in the best interest of our stockholders”

Shares of Impac Mortgage Holdings Inc. plummeted to their lowest level ever — 66 cents — Monday after the beleaguered mortgage lender warned it lost an inestimable amount of money in the third quarter. via BusinessWeek

Popularity: unranked [?]

Since the needs of one person vary from that of another person, there really isnt anything like a best mortgage rate.

When investing your hard earned money be certain and use sound business judgment.

Pay cash, get a discount
It’s amazing the deals you can get with a wad of dollar bills in your hand.

Dealing with a product recall
Was something you bought recalled? Would you know and what do you do?

Healthy Halloween on a budget
10 cheap (and healthy) treats to fill the bags of the little ghosts and goblins.

How to freeze soaring home heating bills
Heating costs are expected to soar this winter, but you can control your monthly bill by making these energy-efficient moves.

Gas-saving devices mostly a scam
Government tests show most gadgets don’t do a thing to help improve mileage.

Popularity: unranked [?]

Other fees can also apply such as appraisal fee, credit check fee, and closing costs.

Why you need a revocable living trust
Popular financial author and TV personality Suze Orman believes these trusts are far superior to wills as estate-planning tools.

Home counts as asset in Chapter 7
Quitclaim doesn’t relinquish a home in the eyes of the court, says the Bankruptcy Adviser.

Overpaying Uncle Sam
Amount of withholding tax depends on many variables, says CPA George Saenz.

Smart ways to use credit cards
Four ways to put your credit cards to work on your behalf.

Don’t let ‘zombie debt’ ruin credit
Stay on top of debt collectors who say you owe money when you don’t, says Dr. Don Taylor.

Popularity: unranked [?]

Although there are several ways that you can buy a home, pre foreclosure is one of the best.

This is because market price no longer can be considered as an isolated element.

There are other firms which provide services for buyers or sellers of both kind of real estate.

Tinseltown goes green
Living an eco-friendly lifestyle has spilled into the lifestyles of many Hollywood stars who are walking the higher road in their Birkenstocks, saving the planet one celebrity at a time.

DIY investing can put nest egg at risk
Discuss concerns with your financial adviser before deciding to go it alone, says Dr. Don Taylor.

Planning for your heirs
Bankrate’s 11th Financial Literacy series installment helps consumers plan for their heirs.

Taxes loom large in college fund choice
Taxes play a major role in deciding how to save for your child’s college education, says the College Money Guru.

Americans’ words and deeds about wills at odds
Three-quarters of Americans say everyone should have a will, but more than half don’t have one.

Popularity: unranked [?]

When you first think about buying a home, you are confronted by going into debt way deeper than you ever have before.

A service minded real estate professional could be a marvelous asset by taking the time to assess your needs and making sure you’ve got all your bases covered.

Popularity: unranked [?]

Creating and executing a plan when you buy real estate will make sure the process goes smoothly.

You cannot find any better deal than that.

Pay cash, get a discount
It’s amazing the deals you can get with a wad of dollar bills in your hand.

How to freeze soaring home heating bills
Heating costs are expected to soar this winter, but you can control your monthly bill by making these energy-efficient moves.

Skip the dryer, save some energy
You can cut your costs and also help the environment.

Dealing with a product recall
Was something you bought recalled? Would you know and what do you do?

Healthy Halloween on a budget
10 cheap (and healthy) treats to fill the bags of the little ghosts and goblins.

Popularity: unranked [?]

Have your lawyer provide you with copies of the offer to purchase in hard copy format and also on disk so you can print them off your home PC when needed.

Facts and trends show that difficulties of trying to sell one’s own house usually far outweigh the benefits.

Co-signer pays big price for generosity
When co-signers are not related by marriage, it often leads to circumstances that end poorly, says Bankrate car columnist Terry Jackson.

Car shipped overseas may escape U.S. tax
Sales tax may not be owed on a car bought in the United States but driven in Europe, says Bankrate car columnist Terry Jackson.

Chase high-yield savings without fear
Moving your savings from one bank to another will not zap your credit score, says Dr. Don Taylor.

Same payment rule at credit union, bank
Loan down payments work the same at banks and credit unions, says Bankrate car columnist Terry Jackson.

$100 fill-up coming to pump near you
Whether you own an SUV or a compact, get ready for a major price shock at the local gas pump, says Bankrate car columnist Terry Jackson.

Popularity: unranked [?]

Never use just one source for the current mortgage rate.

NovaStar reports half-billion-dollar loss

“Accordingly there can be no assurance that we will be able to continue as a going concern”

NovaStar Financial Inc. reported a third-quarter loss of more than half a billion dollars and said it could be forced to file bankruptcy if it can’t repay outstanding debt to its major lender, Wachovia. via Bizjournals

Subprime Blues - When Will It Ever End?

Can the bottom for the subprime market be predicted? What factors are involved…?

Judge Orders Galleria Owner To Pay Total $89.23M

“This is a great victory for consumers and cities, opening the door for more options, more jobs and more competition.”

The owner of the Glendale Galleria was ordered to pay $15 million in punitive damages Tuesday to the developer of The Americana at Brand for intimidating The Cheesecake Factory while it was exploring leasing there.

Today’s verdict brings the total damages awarded to Caruso Affiliated by a Los Angeles Superior Court jury to $89.23 million. Last week, the jury ordered General Growth Properties Inc., the Glendale Galleria’s owner, to pay Caruso Affiliated more than $74 million in compensatory damages. Read more

Canada’s existing home sales climb to October record

Sales of existing homes in Canada’s major cities reversed two months of declines in October, clocking in with the largest ever figure for that month, according to a national realtors association.

Study: Philly housing prices show first decline in 5 years

A new study apparently confirms what real estate agents in Philadelphia have been expecting: Home prices in the city are on the decline for the first time in five years. via PhillyBurbs.com

Homeowners Upset After Builder Pulls Out of Unfinished Subdivision

Their builder, D.R. Horton, the nation’s top home builder is pulling out of the development, citing business considerations.

Popularity: unranked [?]

Real estate can be very expensive, but you can manage to get good deals if you find the right real estate agent.

An adjustable rate mortgage, ARM, is a mortgage that has a varying interest rate on the note.

Winners, losers in mortgage bill
If this bill becomes a law fewer people would get mortgages. Whether that is good or bad depends upon your perspective.

Brochure boxes evolve
I’m at the annual convention of the National Association of Realtors in Las Vegas where a vendor has raised the bar in brochure box technology.

Congress talks mortgages
The House of Representatives has been spending the afternoon debating a bill that would restrict subprime lending, require licensing for brokers and loan officers, and institute a broad series of other reforms.

Popularity: unranked [?]

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.

The flat fee listing will allow you the marketing you need to sell in an efficient manner.

Do you overspend when out with friends?
Take our poll and find out what others say about their tendency to overspend when out with friends.

Hoping for 30 percent growth? Good luck
A couple saving for a down payment needs more realistic expectations, says Don Taylor.

Minor taxed on own income
CPA George Saenz advises a reader on when a child has to file a tax return.

Popularity: unranked [?]

More and more these days, I see people looking for 15 and 10 year mortgages.

Sometimes real estate agents work without owning any type of real estate brokerage; you should be aware of such things at the appointing a real estate agent.

How has technology impacted real estate investment?

The following is a sampling of income property investment opportunities that are the result of the technological revolution.

Judge Orders Galleria Owner To Pay Total $89.23M

“This is a great victory for consumers and cities, opening the door for more options, more jobs and more competition.”

The owner of the Glendale Galleria was ordered to pay $15 million in punitive damages Tuesday to the developer of The Americana at Brand for intimidating The Cheesecake Factory while it was exploring leasing there.

Today’s verdict brings the total damages awarded to Caruso Affiliated by a Los Angeles Superior Court jury to $89.23 million. Last week, the jury ordered General Growth Properties Inc., the Glendale Galleria’s owner, to pay Caruso Affiliated more than $74 million in compensatory damages. Read more

Blackstone Profit Misses Analysts’ Estimates on Real Estate; Shares Fall

Blackstone Group LP, manager of the world’s biggest buyout fund, reported third-quarter profit that missed analysts’ estimates as real estate fees fell, sending its shares down the most since going public in June.

Indictment in NYC Apartment Slaying

A woman was indicted Wednesday in connection with the fatal bludgeoning of her boss, a wealthy real estate agent whose friends included Sting, Madonna and Elton John. via Philly.com

Realtors forecast rebound in 2008

“There is absolutely no bubble in that region”

LAS VEGAS - Crediting pent-up demand and palatable interest rates, the housing industry’s most visible market forecaster said Tuesday that 2008 will see a turnaround for home sales - earlier than some other predictions.

‘In my view, we are hitting the low right now,’ said Lawrence Yun, chief economist for the National Association of Realtors.

Speaking at two events at the trade group’s annual convention here, Yun nonetheless forecast the first year-over-year home price decline since the Great Depression. He said 2007 home sales would average about 2 percent lower than the year before. Read more

Popularity: unranked [?]

In fact, the best mortgage rates are available on the loan of the shortest duration.

Higher interest rates would mean you may have to settle for a bit smaller home than you originally had planned.

Zillow to Nationalize Local Real Estate Adverstising

No matter what you may think about Zillow, the
Seattle-based real estate firm and its somewhat crazy approach to the
market, credit must be given for its constant innovation.

On Tuesday it announced that it was joining 11 major newspaper
publishing companies with a combined total of 282
newspapers throughout the country in a strategic partnership to
extend the papers’ local classified advertising to Zillow’s online
platform.

Advertisers in these papers, whether sellers or real estate agents,
will have the option of…

Read More Now

HR 3915 Addresses Many Aspects of Predatory and Other Mortgage Lending

Sides are quickly being drawn over a pending bill before the House of
Representatives which, if passed, will put in place some
stringent new standards for mortgage underwriting and
the regulation and compensation of mortgage brokers.

HR 3915 is expected to be voted on by the House
Financial Services Committee on Tuesday, November 6. Introduced by
Representative Bradley Miller (D-NC) and cosponsored by 21 other members
of the House, modifies three major sections of Truth in Lending
Act (15 U.S.C. 1602), Title I deals with mortgage origination;
Title II outlines minimum standards for mortgages, and Title III
addresses high cost mortgages…

Read More Now

E-Trade Suffers Subprime Wrath

It has long since passed the point where the downgrade of a company’s
credit rating or an announcement of reduced earnings because of problems
with mortgages or with mortgage-backed securities stuns anyone. However,
on Monday there were particularly dire warnings about
E-Trade, the on-line brokerage firm, which is apparently
heavily invested in sub-prime mortgages in its own
portfolio.

Read More Now

H.R. 3915: a FRANK Discussion

I’m not going to rewrite the HR 3915 bibles that have
already been written. This article will simply collate the most valuable
information available on the bill at this time and of course you will get
my opinion after I give you the facts.

Now that’s out of the way, how about a FRANK
discussion (pun intended)?

Read More Now

Mortgage Rates Back To May 2007 Levels

Mortgage rates fell last week to their lowest point
in nearly six months according to the results of Freddie Mac’s Primary
Mortgage Market Survey for the week ended November 1.

The average rate for the 30-year fixed-rate mortgage (FRM) dropped to
6.26 percent with an average 0.4 point from the average the previous week
of 6.33 percent with 0.5 point. This was the lowest average rate for the
30-year FRM since the week ended May 17 when it averaged 6.21 percent.
One year ago this product…

Read More Now

PMI Insurers May Owe Thanks To Piggy-Back Mortgages

It is one of the small ironies of the subprime crisis
that the very competition that private mortgage insurers thought was
ruining their bottom line may have actually saved their hide.

Just a little over two years ago - href="http://www.mortgagenewsdaily.com/892005_Piggyback_Loans.asp">August
9, 2005 to be exact - we wrote about the panic in the headquarters of
many companies that write private mortgage insurance (PMI) as they
watched their revenues decline as more and more homebuyers caught on to
the utility of “piggy back” mortgages.

Well, talk about dodging a bullet…

Read More Now

OFHEO Director Weighs In On Cuomo Probe

James B. Lockhart, III, Director of the Office of Federal Housing
Enterprise Oversight (OFHEO) took the New York State
Attorney General to task Thursday for involving Freddie Mac and Fannie
Mae in his investigation of subprime lending.

On November 8 Lockhart fired off a letter to Cuomo
which may be the best example of how to chasten and shrink an opponent
since Cyrano DeBergerac taught the course. First he patiently reminded
Cuomo…

Read More Now

Popularity: unranked [?]

Pre foreclosures are known as properties that have reached the final stages before they get repossessed or taken back by the lender or bank.

Bad credit mortgage is possible too.

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.

Alt-A Company Done
United Equity LLC has shut down. The company closed in late October after monthly loan volume dropped off, a former originator told MortgageDaily.com. The company went under when the market for Alt-A loans dried up. "When the Alt-A went away," the originator said, "so did the company."

Countrywide Improves
Countrywide Financial Corp. reported $22 billion in October residential originations. Business was better than in September. However, fundings were almost cut in half from a year earlier. The foreclosure rate also improved from September, Countrywide said.

National Mortgage Banking Law Firm To Provide Content and Analysis To Online News Publication
Weiner Brodsky Sidman Kider PC and MortgageDaily.com have announced an innovative alliance. The strategy will enable real estate finance executives, analysts and regulators to have more timely and comprehensive access to important industry issues. Through the synergy, the two firms will help industry stakeholders to quickly identify, analyze and manage pressing issues including government insured lending, secondary market liabilities and default servicing.

Digital Finance
First American CoreLogic introduced a new Web-based workflow management tool that is the first collaborative workspace solution exclusively for mortgage banking. DocuSign announced it has finalized partnership agreements with Upside Software, Allied Solutions, Global Client Solutions, XwareNet and Document Systems Inc. Sollen Technologies announced enhancements to its pricing and pipeline management tool include an "easier to use, more powerful search that helps loan officers by returning a true best execution without requiring the loan officer to predetermine the loan type." Direct Mortgage Wholesale said the updated version of its proprietary loan origination, processing and underwriting software provides brokers with a three-step loan process of selecting a loan, monitoring processing status and scheduling the closing.

Volatility Ahead for CMBS
The commercial mortgage-backed securities sector could see volatility increase due to decreasing diversity in underlying loans, unless offset by additional credit enhancement, Moody’s Investors Service reported. The ratings agency noted the liquidity crunch is affecting the diversity and size of CMBS. The diversity in commercial mortgage loan pools has fallen from the late 1990’s.

Popularity: unranked [?]

Homeowners with a low credit score will need to pay higher interest payments.

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

There are real estate firms which deal exclusively with one particular suburb, and others that deal with all suburbs.

Dealing with a product recall
Was something you bought recalled? Would you know and what do you do?

Pay cash, get a discount
It’s amazing the deals you can get with a wad of dollar bills in your hand.

Skip the dryer, save some energy
You can cut your costs and also help the environment.

Healthy Halloween on a budget
10 cheap (and healthy) treats to fill the bags of the little ghosts and goblins.

How to freeze soaring home heating bills
Heating costs are expected to soar this winter, but you can control your monthly bill by making these energy-efficient moves.

Popularity: unranked [?]

If you borrow money more than you can afford to pay back on mortgage, then there is a chance that you may risk foreclosure if you meet with a personal tragedy like a job loss or illness which can impact your income.

This will help you in not only getting good mortgage offers but also help you with other financial transactions that you do throughout your life.

Pay cash, get a discount
It’s amazing the deals you can get with a wad of dollar bills in your hand.

Skip the dryer, save some energy
You can cut your costs and also help the environment.

How to freeze soaring home heating bills
Heating costs are expected to soar this winter, but you can control your monthly bill by making these energy-efficient moves.

Popularity: unranked [?]