Home, Mortgage and Personal Finance News Archive

• 3 Tips on Buying a Foreclosed Home
  Money Magazine (June 20, 2008)
  Banks are anxious to sell foreclosed properties and you can get a decent price. Here's what you need to know before you shop.
• Veto Threatened for Housing Bill
  The Washington Post (June 20, 2008)
  The White House issued a fresh veto threat yesterday against a plan to rescue hundreds of thousands of homeowners from foreclosure, raising objections to Senate negotiators' proposal to fund the program.
• U.S. Housing Market Weakness Long-Term - Survey
  Forbes (June 20, 2008)
  U.S. consumers expect housing market weakness to linger for longer than they did a few months ago, a survey showed Friday. The Reuters/University of Michigan Surveys of Consumers Home Prices Report for June also cited a broad gulf between buyers and sellers in the housing market.
• Rates Improve For Some Loans On Pricey Homes
  The Wall Street Journal (June 19, 2008)
  Interest rates are finally becoming more attractive on certain types of so-called jumbo mortgages. This could provide a boost to home sales, but the number of borrowers benefiting from the program is likely to be limited.
• 30-Year Mortgage Rates Near Nine-Month High
  CNBC (June 19, 2008)
  U.S. 30-year mortgage rates rose to an average of 6.42% from 6.32% last week, and 15-year mortgages rose to an average of 6.02% from 5.93%. One-year adjustable rate mortgages, or ARMs, jumped to an average of 5.19% from 5.09%.
• Hundreds Swept up in Mortgage Fraud Arrests
  ABC News (June 19, 2008)
  More than 400 real estate industry players have been indicted since March - including dozens over the last two days - in a Justice Department crackdown on incidents of mortgage fraud nationwide that have contributed to the country's housing crisis.
• Senate Considers Broad Housing Bill
  Time Magazine (June 19, 2008)
  The Senate began considering a broad housing package Thursday after clearing away conservative GOP objections, paving the way for votes this week on the election-year foreclosure rescue that could help hundreds of thousands of struggling homeowners.
• Should You Pay Off Your Mortgage Before You Retire?
  U.S. News & World Report (June 19, 2008)
  Should you own your home free and clear before you retire? Or is it better to keep your mortgage and invest the money elsewhere at perhaps a higher return while reaping the mortgage-interest tax break? Here are factors to weigh when deciding which path is right for you.
• Tapping Home Equity for No-Debt Cash
  Reuters (June 19, 2008)
  Several new products have entered the housing market that use a shared equity or shared appreciation concept. They all have differences in the way they are structured, but all aim to replace interest payments (and high reverse mortgage costs) with an unknown share of future profits. It's a risk for the issuers, but homeowners who enter these agreements have risks too.
• Your Lifestyle May Hurt Your Credit
  BusinessWeek (June 19, 2008)
  Credit card lenders may be monitoring your bar tab or marriage counseling bill and punishing consumers who use their credit cards for certain purposes.
• Mortgage Application Volume Fell Last Week
  CNN Money (June 18, 2008)
  Mortgage refinance applications hit their lowest levels of the year last week as interest rates on home loans rise.
• Senate Is Set to Weigh Housing Initiatives
  The Wall Street Journal (June 18, 2008)
  The Senate is poised to vote on a package of housing initiatives to deal with record numbers of foreclosures. The package includes a regulatory overhaul and a $300 billion refinancing program for struggling borrowers.
• When Builders Go Broke
  BusinessWeek (June 18, 2008)
  Chicago-based Neumann Homes went bankrupt last November, leaving a trail of wreckage in its path. Its worst victims? Homeowners.
• Study: Bargain Hunters May Soon End California's Real Estate 'Free Fall'
  The San Jose Mercury News (June 18, 2008)
  The "free fall" phase of the California housing market bust could end soon, as bargain-hunters begin buying homes in parts of the state hardest hit by foreclosures, according to a new economic report.
• How Rising Home Values, Easy Credit Put Your Finances at Risk
  USA Today (June 18, 2008)
  Mix of high-rate debt and meager home equity has squeezed consumers - and threatens to prolong the economic slowdown.
• Where Are the Pockets of Strength in Real Estate?
  CNBC (June 18, 2008)
  Several real estate experts share their insight on the economy, the housing market and commercial real estate.
• Bank Economists Say Home Prices Yet to Bottom
  The San Jose Mercury News (June 17, 2008)
  U.S. home prices are only about halfway through their decline and most of the further erosion should occur this year, major bank economists said today.
• Real Estate Agents Court Gen Y
  USA Today (June 17, 2008)
  The housing slump has made real estate agents so hungry for business that many have decided to go after a group not known for its home-buying habits: Twentysomethings.
• Suburbs a Mile Too Far for Some
  The Wall Street Journal (June 17, 2008)
  The driveable suburb is under assault as a new generation has combined with baby boomers to rekindle demand for urban living. The mortgage crisis and $4-a-gallon gasoline are delivering further gut punches.
• Employers Offer Aid To Avert Foreclosures
  The Wall Street Journal (June 17, 2008)
  In the wake of the mortgage crisis, a small but growing number of workers are getting help avoiding or coping with foreclosure from an unlikely source: their employers.
• Your Debt-to-Income Ratio
  BusinessWeek (June 17, 2008)
  If personal debt is inevitable, make sure you don't get in over your head. This video will help you review your debt-to-income ratio and show you ways to keep your credit in check.
• Cities Help Residents Facing Foreclosure
  AOL Money & Finance (June 16, 2008)
  Worried about the blight of vacant housing and the economic impact of residents losing their homes, Philadelphia, Los Angeles and other areas around the nation are taking their own steps to blunt the foreclosure epidemic in their cities.
• Home-Loan Aid Responses Speed Up
  Time Magazine (June 16, 2008)
  Mortgage companies are pledging to let troubled borrowers know whether they're approved for help within 45 days of receiving a homeowner's application. The promise is expected to be announced Tuesday by the Hope Now Alliance, a Bush administration-backed industry group.
• 3 Landscaping Tips for a Down Housing Market
  SmartMoney (June 16, 2008)
  In a down housing market, good landscaping can increase a home's selling price. Discover three lawn care tips that will increase your home's curb appeal.
• 5 Ways to Cut Car Insurance Costs
  Money Magazine (June 16, 2008)
  One way to offset rising gas prices is to find smarter, cheaper coverage for your car. Here's how.
• The Bubble
  The Washington Post (June 15, 2008)
  How homeowners, speculators and Wall Street dealmakers rode a wave of easy money with crippling consequences.

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