Archive for December, 2009

Can’t sell your home? Why not swap it instead? (Independent)

Sunday, December 13th, 2009

There may be signs that the property market is recovering, with mortgage lenders cutting rates and house prices stabilising. But throughout much of Britain, homeowners wanting to sell are still facing an uphill struggle.

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Don’t take federal mortgage relief if you don’t need it (Washington Post)

Sunday, December 13th, 2009

Q: My family and others in our neighborhood now owe more on our mortgages than our homes are worth. At a recent party, I heard some of our friends talking about the new federal mortgage-relief programs and how they were planning to get their monthly payments reduced. No one has lost a job, and I…

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RISING FROM THE WRECKAGE: A STORY OF SURVIVAL: Pulled back from disaster, a determined Mich. auto industry enters new … (Detroit Free Press)

Sunday, December 13th, 2009

In this kickoff of an 8-chapter story on freep.com, a slowdown spirals into a meltdown in the summer of 2008.

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House OKs $1.1 trillion spending bill (Seattle Times)

Saturday, December 12th, 2009

Democrats are muscling through a deficit-swelling spending bill, giving domestic programs their third major boost this year and awarding lawmakers with more than 5,000 home-state projects.

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Couple whose loan rate changed could be victims of mortgage fraud (Washington Post)

Saturday, December 12th, 2009

Q: We bought a property five years ago and used an interest-only loan that had a fixed interest rate for five years. The base rate is 3.25 percent plus the one-year Treasury.

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Mortgage rescue hopefuls wait months to find out if they’ll get help (CNN)

Saturday, December 12th, 2009

Daisy Vidal thought she was lucky. She was offered a more affordable mortgage on a trial basis, which she thought would allow her to hold on to her home.

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State Hires 75 More to Help with Home Foreclosure Mediation (KLAS Las Vegas)

Saturday, December 12th, 2009

The state has had to hire more mediators to help with the more than 3,000 desperate requests from homeowners facing foreclosure. Inside, find information on the program.    

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Defaults to Rise as Credit Issues Remain, Greene Says (Update1) (Bloomberg)

Saturday, December 12th, 2009

Dec. 11 (Bloomberg) — The next six months will bring more credit-card and mortgage defaults, said Mark Greene , chief executive officer of FICO , maker of the credit-scoring formula most widely used by U.S. lenders.

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Understanding the Escrow Process When Buying a Coconut Grove Real Estate Property (Turks.US)

Friday, December 11th, 2009

If you’re a first-time homebuyer, the term escrow might be a bit confusing. The fact is, however, it is easily understandable. And if you’re planning to find the financing you need for your Coconut Grove real estate home, the term escrow becomes more significant.

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Low-Down Loans Aid Lean Condo Market (Investor’s Business Daily via Yahoo! News)

Friday, December 11th, 2009

For would-be purchasers without much cash, many condos had become untouchable — especially newly built ones. Few lenders would finance them after the housing bust, and then only with steep down payments and strict terms.

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