Tens of thousands of condominium unit owners around the country may not know it, but their ability to sell or refinance could be jeopardized by a rolling series of federal government deadlines. Beginning next spring, another 23,000 projects - with residential units totaling into the estimated hundreds of thousands - could lose their eligibility as well. The deadline was Tuesday. More
A federal agency is moving to prohibit controversial "private transfer fees" on all mortgages funded by Fannie Mae and Freddie Mac. But its proposed ban might extend to transfer fees routinely collected by community associations across the country -- potentially forcing some of them to raise assessments on thousands of unsuspecting homeowners.
Edward J.
Kenneth R. More
A reverse mortgage is a type of loan that allows seniors to turn some of their home's equity into cash. Unlike a home equity loan or second mortgage, however, the loan doesn't have to be paid back until the home is sold or it is no longer the mortgage holder's primary residence. - Income from a reverse mortgage typically does not affect Social Security or Medicare benefits. More
Many homeowners tackle household repairs and improvement projects themselves to save money. Yet when it comes to updating their mortgages, these same do-it-yourselfers may not even consider it. Why? Modifying your mortgage can save money, and it's not difficult. Here's how:
A loan modification is simpler than refinancing. When modifying your mortgage, be sure to shop around. More
For hundreds of thousands of homeowners who are underwater on their mortgages, it's been a tantalizing question: Is there any way that our lender might agree to lower the amount we owe — not just the monthly payments but the principal debt itself? Until now, the answer virtually always has been a resounding no. Announcement soon? The same would be true for the second and third years. More
Financially stressed homeowners looking to cut their mortgage payments through a loan modification, short sale or principal reduction under one of the Obama administration's programs needn't wreck their credit scores in the process. Other alternatives to modification -- such as foreclosure and bankruptcy filings -- can tank your scores and take years to rehabilitate. Kenneth R. More
First-Time Homebuyer Credit Comparison Chart
Housing and Economic Recovery Act of 2008
American Recovery and Reinvestment Act of 2009
Worker, Homeownership and Business Assistance Act of 2009
Effective for purch More
Reporting from Washington - The United States tries to take care of its warriors, a tradition that Congress has continued in little-known sections of the latest home buyer tax credit legislation and one of the government’s main programs to help military owners who must sell their houses for less than what they owe. 1, 2009, and April 30, 2010. 1, 2006, and Sept. More
More than 400,000 modification offers have been extended and more than 230,000 trial modifications have begun, according to the report. At the current pace, the program is on track to offer assistance to up to 3 to 4 million homeowners over the next three years. 1, 2009. More
Here is my comments to an article from SeekingAlpha.com. The original can be found at: http://seekingalpha.com/article/156363-end-of-recession-predictions-look-increasingly-flawed
I do not believe the economy will change if the people running it are the same guys that put us into this tailspin. Goldman Sachs had a great quarter with bailout money. Who will take up the slack? More
