Foreclosures continue to plague housing market
Posted: Thu, 13 Oct 2011 05:46:05 EDT
Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on.
Home ownership: Biggest drop since Great Depression
Posted: Fri, 07 Oct 2011 07:26:40 EDT
The percentage of Americans who owned their homes has seen its biggest decline since the Great Depression, according to the U.S. Census Bureau.
30-year mortgage rates fall below 4%
Posted: Thu, 06 Oct 2011 12:10:58 EDT
Mortgage rates have never been cheaper, with the 30-year rate falling below 4% for the first time in history.
Foreclosure backlog deepens
Posted: Wed, 05 Oct 2011 13:17:32 EDT
As the foreclosure backlog continues to build up, delinquent borrowers are spending even more time in their homes without making mortgage payments.
Average Manhattan home costs $1.4 million
Posted: Tue, 04 Oct 2011 05:46:08 EDT
Taking advantage of a weak U.S. dollar and a beaten down housing market, foreign buyers helped push Manhattan home prices slightly higher in the third quarter, according to the city's top residential real estate agents.
Fannie Mae ignored foreclosure abuses
Posted: Tue, 04 Oct 2011 14:36:48 EDT
Fannie Mae, the government-controlled mortgage giant, ignored indications that attorneys it hired to handle defaults were abusing the foreclosure process, according to a report from the inspector general for the Federal Housing Finance Agency (FHFA), the agency that oversees Fannie.
Mortgage help for unemployed disappears
Posted: Mon, 03 Oct 2011 05:49:00 EDT
The federal government can't even give money away to help the unemployed pay their mortgage.
To fix the economy, first fix the housing market.
Posted: Mon, 03 Oct 2011 13:28:52 EDT
Is this a great country or what? At the start of last year, a friend of mine, the proprietor of a small business that has suffered badly in the recession, entered a trial mortgage-modification program. A few months later the bank told him that his application for a government-assisted refinancing rate had been turned down -- his house was too far underwater. He had bought it during the boom for $220,000, putting down $30,000, and then spent another $45,000 doing it up. Now it's worth about $100,000. Once his monthly payments were set to go back up (his mortgage rate is 6.5%), my friend stopped paying them and waited for the foreclosure and eviction notices to arrive. A year and a half later he is still inhabiting his own home and watching the mail.
Big mortgages: Harder to get and more expensive
Posted: Fri, 30 Sep 2011 07:23:34 EDT
Starting Oct. 1, the beleaguered housing market will confront the latest hurdle to its recovery: The size of mortgages that the federal government can back will be drastically reduced in high-priced regions.
'I can't flip this house'
Posted: Thu, 29 Sep 2011 05:34:48 EDT
Buy a home on the cheap and flip it for big profits? That dream is all but dead.
Home prices climb for fourth straight month
Posted: Tue, 27 Sep 2011 10:47:59 EDT
Home prices in July climbed for the fourth month in a row, but are still down from a year ago.
Affordable mansions for sale
Posted: Fri, 23 Sep 2011 06:26:28 EDT
Ever dream of having your own reception hall or a dining room that could seat 20 people? These mansions offer lots of living space for less than what it costs to buy a one-bedroom condo in New York.
Existing home sales jump in August
Posted: Wed, 21 Sep 2011 11:16:13 EDT
Home buyers are starting to creep back into the housing market, lured by rock-bottom prices.
Deadly tornadoes sends storm shelter sales soaring
Posted: Tue, 20 Sep 2011 10:06:12 EDT
The tornado season of 2011 will go down as one of the most destructive and dangerous in U.S. history.
Dodge the draft and cut home heating costs
Posted: Mon, 26 Sep 2011 11:37:05 EDT
You don't have to invest thousands in high-tech insulation or a super-efficient furnace to cut home heating costs. Just sealing drafts could lower your bills 3% to 18%, according to Danny Parker, a research scientist who works with the Department of Energy.
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