Searching
Homeowner’s Toolkit Archive
RISMEDIA, March 27, 2010—(MCT)—Homeowners defaulting on mortgages today may be surprised to learn years from now that they still owe thousands of dollars—and a collection agency is coming after them to get it.
That's because lenders have been quietly selling second mortgages and home equity lines left unpaid after foreclosures and short sales. The buyers: collection agencies, which in some states have years to make a claim. If they win court judgments, these collectors could have years to pursue borrowers with repayment plans, and even garnish their wages, said Scott CoBen, a Sacramento bankruptcy
RISMEDIA, March 23, 2010—(MCT)—With home prices expected to keep falling in many parts of the country, experts said finding a fix for the underwater crisis will be difficult. Banks can't afford to bail out homeowners
RISMEDIA, March 23, 2010—I must be living in Bizarro World. Last week, the Associated Press began an article as follows, “Banks weren't the only ones giving big bonuses in the boom years before the worst financial crisis
RISMEDIA, March 23, 2010—(MCT)—Facing criticism over the slow progress of its foreclosure-prevention efforts, the Obama administration has struck deals with two giant banks that would extend mortgage relief to homeowners with second mortgages. ...
RISMEDIA, March 27, 2010—(MCT)—It's been 16 months since Eugene and Patricia Harrison last paid the mortgage on their Perris, Calif., home. Eleven months since the notice got slapped on their front door, warning that it would be sold at auction.
A terse letter from a lawyer came eight months ago, telling them that their lender now owned the house. Three months later, the bank told them to pay up or get out by the end of the week.
Still, they remain in the yellow ranch-style home they bought seven years ago for $128,000, with its views of the San Jacinto Mountains. They're not planning on going anywhere.
RISMEDIA, March 20, 2010—(MCT)—The Obama administration recently reported that its mortgage modification program continued to make progress, with the number of homeowners receiving permanently reduced monthly payments in February 2010 increased by 45% to 168,708. ...
RISMEDIA, March 19, 2010—(MCT)—Want to sell your home? Get out the bucket, mop and Mr. Clean. The key to making a positive first impression is simple, said Sandra Rinomato, host of HGTV's popular "Property Virgins" show.
"Get it clean, clean, clean," said Rinomato. "If your house isn't clean, it instantly sends up negative thoughts that the home is not well maintained. If your house is spotless, you're ahead of the game," she said.
But don't stop there, advised Rinomato. To increase your chances of making a sale, "stage" the house to make it as attractive as possible.
RISMEDIA, March 16, 2010—Things are starting to get really ugly out here on the front lines. The banksters latest tactic has them confirming in writing that the homeowner’s eligibility for a modification
RISMEDIA, March 16, 2010—In the first study of immigrants buying homes in mid-size areas across the United States, researchers at the University of Southern California Lusk Center for Real Estate showed
RISMEDIA, March 15, 2010—(MCT)—Instead of playing the trade-up game, more homeowners are staying in their homes, upgrading kitchens and baths and building additions to accommodate their needs instead of moving into a bigger house, but there are also some early signs of an improving real estate market, according to a new survey of architecture firms.
More architects say they're seeing demand for and inquiries about home-remodeling projects, including kitchen and bath upgrades and home additions.
RISMEDIA, March 15, 2010—The National Association of Realtors® urged Congress and the administration to move cautiously before making changes to the Federal Housing Administration (FHA) program that has served the needs of millions of American families for more than 75 years without needing a federal appropriation. ...
RISMEDIA, March 13, 2010—(MCT)—Phil Kelly had 18 more months to go before the fixed rate on his $2.5 million mortgage became adjustable. But when Kelly, a former computer executive
RISMEDIA, March 12, 2010—As spring approaches, many homeowners grow eager to start remodeling projects to update and refresh their surroundings. Before getting started, it’s a good idea to hire a professional remodeler for a workable plan and better results, according to the National Association of Home Builders (NAHB).
“A professional remodeler knows how to translate a homeowner’s dreams and budget into a beautiful reality,” said Donna Shirey, CGR, CAPS, CGP, president of Shirey Contracting in Issaquah, Wash. and 2010 chairman of NAHB Remodelers.
RISMEDIA, March 12, 2010—(MCT)—With the highly touted federal mortgage-modification program falling short of its target numbers, the government has looked into alternatives
RISMEDIA, March 12, 2010—The Mortgage Bankers Association (MBA) recently reported that serious mortgage delinquencies- those at least 90 days past due or in foreclosure- remained at record levels in the fourth quarter of 2009. These latest statistics show that one in 10 borrowers is seriously delinquent on their mortgage, up ...
