Home, Mortgage and Personal Finance News Archive

• Real Estate Realities
  Yahoo Finance (June 6, 2008)
  The housing market is clearly hurting. But for patient buyers, the present time offers a rare and enviable long-term opportunity.
• The Next Real Estate Crisis
  Newsweek (June 5, 2008)
  By April 2009, hundreds of thousands of option ARM mortgages will begin resetting, bringing on a fresh wave of foreclosures.
• The 7 Biggest Home Price Negotiation Blunders
  U.S. News & World Report (June 5, 2008)
  U.S. News spoke with five negotiation experts and came up with a list of the seven biggest mistakes you can make in negotiating to buy a house.
• Housing Pain Hits Prime Borrowers
  The Wall Street Journal (June 6, 2008)
  Mortgage delinquencies and foreclosures continued to surpass record levels in the first quarter of 2008. Delinquencies and foreclosures increased at the fastest pace for borrowers with prime adjustable-rate mortgages, according to the Mortgage Bankers Association, though borrowers with subprime ARMs still account for the largest share of troubled loans.
• Banks vs. Consumers (Guess Who Wins)
  BusinessWeek (June 6, 2008)
  The business of resolving credit-card disputes is booming. But critics say the dominant firm favors creditors that are trying to collect from unsophisticated debtors
• Freddie Mac CEO: Fortunes Will Improve
  CNN Money (June 6, 2008)
  Mortgage buyer chief Richard Syron tells shareholders that Freddie Mac's earnings will grow 15% to 20% this year, but not before taking $6 billion hit from bad mortgages.
• Credit for Home Buyers on Table in Washington
  MarketWatch (June 5, 2008)
  With home prices continuing to fall in many parts of the country, housing industry groups are pushing for lawmakers to approve a federal home-buyer tax credit that they argue will spur buying and soak up some of the oversupply that is dragging down the market.
Homes in Foreclosure Top 1 Million
CNN Money (June 5, 2008)
More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb.
• Local Banks Regain Mortgage Business
  The Wall Street Journal (June 5, 2008)
  During the housing boom, local banks and thrifts struggled to compete for mortgage business with aggressive brokers and national lenders. Now, some community banks are regaining market share as those rivals scale back or go out of business.
• CEO Declares 'Depression' in Housing
  CNN Money (June 5, 2008)
  The chief executive of Toll Brothers Inc., the nation's largest luxury-home builder, said Wednesday that the housing industry is in a "depression" and any recovery could be two or three years away.
• 10 Cities With the Most (and Least) Personal Debt
  AOL Money & Finance (June 5, 2008)
  Take a look at foreclosure rates, housing costs, bankruptcy filings, credit scores, levels of credit debt and credit usage in 100 American cities to see where debt is dominating residential households the most -- and the least.
• The Starbucks Effect: Do Retail Chains Really Boost Real Estate Values?
  Newsweek (June 4, 2008)
  Some people believe that growth-oriented chains like Starbucks and Home Depot do tons of economic and demographic research before moving into a new town, and that their decision to locate a store indicates a big vote of confidence in the area's economy.
• Mortgage Applications Slip As Rates Rise
  CNN Money (June 4, 2008)
  Mortgage application volume fell 15.3% during the week ended May 30, according to the trade group Mortgage Bankers Association's weekly application survey.
• Downsizing the American Home
  Fortune Magazine (June 4, 2008)
  During the housing bubble, KB Home priced out first-time homebuyers by building bigger. Its new, more modest model provides a glimpse of what the return of the housing market may look like.
• Home-Swapping Sites No Easy Fix for Desperate Sellers
  SmartMoney (June 4, 2008)
  Over the years, the Internet has helped many lonely hearts find mates. Now the web's matchmaking skills are being put to use in a much different way: setting up homeowners who are looking to swap their homes.
• Mortgage Brokers Face Industry Upheaval
  Reuters (June 4, 2008)
  Congress and the Bush administration are pursuing reform proposals on how brokers qualify to do business; how they get paid; and how much information they share with borrowers.
• Ed McMahon Faces Home Foreclosure
  AOL Money & Finance (June 4, 2008)
  Legendary TV personality Ed McMahon was $644,000 behind in payments on a $4.8 million loan for a home in Beverly Hills, Calif.
• Family Narrowly Skirts Foreclosure
  The Wall Street Journal (June 3, 2008)
  Scenes fro the mortgage mess: A close look at a how one California couple pulled off a short sale.
• Credit-Card Use Is Surging, Risking Another Debt Crisis
  CNBC (June 3, 2008)
  Cash-strapped Americans are ringing up more and more purchases on their credit and debit cards, but there could be a steep price to pay ahead. Analysts worry that there could be long-term problems not only for consumers but for the anemic economy and the already-troubled banks that will be underwriting all that risky debt.
• Bernanke Signals More Rate Cuts Unlikely
  AOL Money & Finance (June 3, 2008)
  Federal Reserve Chairman Ben Bernanke signaled Tuesday that further U.S. interest rate cuts are unlikely because of concerns about inflation.
• Get the Lowdown on Securing a Loan
  ABC News (June 3, 2008)
  The credit crunch has already taken a bite out of Wall Street, but now it's baring its ugly fangs at loans for college, homes and small businesses. "Good Morning America" financial contributor Mellody Hobson sheds some light on where tight credit is hitting home and what you can do about it.
• Don't Raid Retirement Savings to Pay the Mortgage
  Yahoo Finance (June 3, 2008)
  More people are borrowing from their retirement plans to make house payments, but such a move can be extremely costly. Here's why.
• Finding a Listing Agent
  Investopedia.com (June 3, 2008)
  Buying or selling a house is difficult, but toss a lazy or incompetent real estate agent into the equation and it could spell disaster. This article discusses ways that prospective buyers and sellers should go about looking for an agent and what they should look for before signing a listing contract.
• Number of Foreclosed Homes Keeps Rising
  The Wall Street Journal (June 2, 2008)
  The number of foreclosed homes owned by lenders continues to rise despite signs that they are increasingly willing to slash prices to sell those properties.
• Homebuilding Slump Hampers Construction Spending
  BusinessWeek (June 2, 2008)
  Construction spending has not increased since last September as the building industry continues to be battered by the worst slump in housing in decades.
• Lenders Foot the Bill for Abandoned Homes
  CNN Money (June 2, 2008)
  Foreclosed homes that lie vacant and rundown need their lawns mowed and their yards cleaned up. Cities say taxpayers shouldn't have to bear that burden.
• Foreclosure Bus Tour, Sign of Housing Bust, Hits New York Area
  Bloomberg (June 2, 2008)
  The foreclosure tour, mobile proof of the U.S. housing bust, has rolled into the New York City market.
• Credit Card Rewards Are a Real Rip Off
  CNN Money (June 2, 2008)
  What has your rewards card done for you lately? Not much most likely. To avoid pitfalls and get the most back from your credit card, Consumer Reports offers these tips.

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