Category Archives: Mortgages
Not So Great News About the Housing Market
There’s some bad news coming out from the National Association of Realtors regarding the state of the housing market. Existing home sales, which had been increasing for three straight months, fell 9.6 percent in February to 4.88 million. In January they were at 5.4 million. Here’s how Lawrence Yun, NAR chief economist explained it in … Continue reading
Foreclosure Forces Man to Live in His Front Yard
I just came across this story out of Memphis. Sixty-four-year-old George Tirpak lost his job and fell behind on his mortgage and tax bills. Now he’s been kicked out of his home so he simply moved to the front yard. Neighbors are trying to help while Tirpak figures out what to do. He’s one of … Continue reading
Many Troubled Homeowners Fail to get Help from Mortgage Relief Program
A new report from the Associated Press says that nearly half of the 1.3 million homeowners who initially tried to get help from the Obama administration’s mortgage relief program have left the program due to difficult paperwork and red tape. The $75 billion program was created to help those at risk of foreclosure avoid losing … Continue reading
Free Help for Avoiding Foreclosure
Foreclosure rates rose by four percent in July. There were an additional 325,229 filings which is almost ten percent higher than compared to July 2009. It marked the 17th straight month of foreclosures over the 300,000 mark. “Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in … Continue reading
Lowest Demand for Mortgages in 13 Years
The Mortgage Bankers Association announced this week that the demand for home loans in the US slid to a 13-year low, despite record-low mortgage rates. According to Reuters, requests for mortgages fell by 3.1 percent in early July which was the lowest level seen since December 1996. Refinancing has also slowed down, falling 2.9 percent. … Continue reading
Helping Your House to Sell with Incentives
There are lots of factors that go into trying to get your house sold. When competing against other homes in your price range sometimes it can help to offer incentives for buyers. It can be a great way to convince buyers to choose your home over others in the market. There are several options for … Continue reading
The Dangers of Over-Pricing Your Home
Planning to put your home on the market? Lots of sellers end up pricing their home too high. With the housing bust, homeowners are having a hard time being realistic about what their home is worth now compared to a few years ago when real estate hit its peak. According to a recent issue of … Continue reading
Finding Your Dream Home
My next door neighbor put their home on the market on Monday. They had three showings in two days that resulted in two offers! The ended up accepting an offer that was $7,000 over their asking price. It just goes to show that people are still buying houses and they’re willing to pay full price, … Continue reading
Ways to Eliminate Your Mortgage More Quickly
Joe Sangl, financial guru at my church, recently posted advice on paying down your mortgage. I’m sure we’d all like to learn how to work on eliminating this large debt looming over us. It’s a pretty monumental occasion when you buy you first house or any time you buy something that is such a large … Continue reading
One in Four Mortgages are More Than Home’s Value
A new report released today is the first state-level study into negative equity single-family homes. The study found that 23% of Americans– nearly one in four– have mortgages where they owe more than their home is worth. According to a CNN news report about the study, almost 10.7 million mortgages were deemed “underwater” by the … Continue reading