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Homeowner’s Toolkit Archive
RISMEDIA, October 2, 2010—(MCT)—Despite industry and government efforts to make short sales—transactions in which the lender agrees to accept less than the mortgage amount owed by the homeowner—easier and more quickly accomplished, improvements are coming up, well, short. In some cases, the difference between the two numbers is being forgiven by the mortgage lender. In others, the homeowner must arrange with the lender to settle the rest of the debt.
RISMEDIA, October 1, 2010—(MCT)—The moving truck pulled away from the curb, loaded with Wallace Farmer's possessions. He locked the front door for the last time and left town—clutched by a long-simmering anger that finally gave way to relief. Farmer didn't sell his Baltimore house, worth far less than the $180,000 he paid in 2006. And he didn't lose it to foreclosure. He walked away from the rowhouse and the mortgage. It's the bank's problem now.
RISMEDIA, September 30, 2010—At a recently held event at the Pentagon, Fannie Mae and the U.S. Army announced new initiatives to help service members who are struggling with their mortgage payments avoid foreclosure. The effort includes a mortgage payment forbearance of up
RISMEDIA, September 29, 2010—New research from the National Association of Home Builders (NAHB) reveals that the benefits of housing-related tax deductions, such as the mortgage interest deduction, generally decline in value as individuals age. Using Internal Revenue Service Statistics of Income (SOI) data, NAHB was able to report for the first time how various tax deductions are used by different age groups. The analysis demonstrates that the biggest beneficiaries are younger households, who typically have large mortgages, small amounts of equity in their homes and growing families.
RISMEDIA, September 29, 2010—It's one thing to examine your property with an eye toward pleasing your guests, but smart second homeowners realize the value of regular preventive maintenance as well. Even if your guests don't notice, say, a leaky roof, it's likely
RISMEDIA, September 28, 2010—Nearly one-third of Americans are unlikely to qualify for a mortgage because their credit scores are too low, making homeownership out of reach for many. This is according to an analysis of more than 25,000 loan quotes and purchase requests on Zillow Mortgage Marketplace during the first half of September. Borrowers with credit scores under 620 who requested purchase loan quotes for 30-year fixed, conventional loans were unlikely to receive even one loan quote on Zillow Mortgage Marketplace,
RISMEDIA, September 28, 2010—The Federal Housing Administration (FHA) announced a new modified version of its Home Equity Conversion Mortgage (HECM) product. The HECM loan is a reverse mortgage insured by the federal government. It allows older
RISMEDIA, September 24, 2010—(MCT)—Homeownership, long trumpeted as the American dream, has turned into a nightmare for many, especially those whom life has dealt unexpected blows. Secure in their jobs, with plenty of savings and good health when they bought their houses, millions of Americans are now fighting to keep them—leading a growing number of economists and real estate experts to ask whether the American dream has become more of an obsession.
RISMEDIA, September 23, 2010—The U.S. Department of Housing and Urban Development is making available $1.68 billion in homeless assistance grants to thousands of local projects that house and serve homeless persons and families across the country.
RISMEDIA, September 22, 2010—In its first three days since registration opened, the
Real Estate Market Domination Summit has already reached 30% capacity at the legendary Hotel del Coronado, in San Diego, 1parkplace has announced.
RISMEDIA, September 21, 2010—(MCT)—Vast rooms with soaring ceilings, extra-tall doors and towering windows are designed to look grand. But how do you make such vast spaces feel warm and inviting—without minimizing
RISMEDIA, September 18, 2010—(MCT)—Home appliances break and wear out, and many consumers are often surprised, almost as if they expect these machines to last forever. But appliances have life spans. A trash compactor lasts just six years, on average,
RISMEDIA, September 17, 2010—(MCT)—As the economy continues to suffer and home prices continue to fall, numerous Americans across the country are staying away from the real estate market. But, if you are looking to take advantage of the opportunity of a lifetime, now is the perfect time to get off the sidelines. Playing by your own terms may be the name of the game today. Ask for price reductions, improvements, closing costs—whatever—and sellers, who are desperately trying to get a contract, are very likely to work with you, said Jay Papasan, one of the authors of the book Your First Home.
RISMEDIA, September 17, 2010—Realogy Corporation, one of the largest providers of real estate and relocation services in the United States, announced that it is urging Congress to take immediate action on a number of pressing issues with serious ramifications
RISMEDIA, September 17, 2010—(MCT)—As tighter lending requirements make homeownership more difficult, so-called "shared equity" or "long-term affordability" programs are getting more attention from local governments, nonprofits and private foundations.
