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Reader Question: Is It Really Harder to Get a Home Loan Now?Those who have good credit, and plan ahead to save up for a down payment on a home they can afford, shouldn't have too much trouble getting a home mortgage loan.
FDIC to Auction Commercial Real Estate LoansWhen the FDIC declares a failed bank and takes over operation of that bank, it takes on the burdens of servicing loans and other responsibilities. Right now, with 26 banks failed so far this year (as of March 6), and 702 banks on a list of “problem banks” that the FDIC keeps, there are concerns [...]
Buying a Foreclosure? Make Sure the Property Really is CleanRight now, there is a lot of interest in buying foreclosures. There are still quite a few on the market, even though delinquencies are starting to decline. And it is true that you can get a great deal in many cases. My cousin and his wife bought a foreclosure, and it turned out to be [...]
Reader Question: How Do I Know If I Can Afford a Mortgage Payment?In this climate, with low home prices and low interest rates (not to mention a tax credit), it is little surprise that first time home buyers are out in force, looking for opportunities. Mortgage applications are on the rise as would-be home owners look for bargains. But the house hunt brings up all new questions [...]
Mortgage Applications IncreaseIndeed, if you can, you might be advised to refinance. You can get a shorter term, and save even more money over the long run. I myself plan to refinance this year, looking for a good mortgage rate, and a shorter loan term.
IRS Payment Plan: Do You Still Get a Refund?As a condition of your installment agreement, any refund that you should receive in the future will be applied against the amount that you owe. In other words, you are not going to receive any money. Instead, the IRS will take it and put it towards what you owe.
Hidden Debt Could Balloon Federal DeficitWe know that the federal deficit is ballooning at a rather scary pace. However, the growing debt that we see is only a part of the picture. There is probably more debt to come as we work to get out of our financial mess, and as the government has to deal with the burdens placed upon it.
AIG Loss of $9 BillionInsurance giant AIG reported a 2009 fourth-quarter loss of $9 billion, leading to speculation that there is plenty of work to be done on the financial sector front.
U.S. Home Prices Likely to Continue FallU.S. home prices are expected to continue to fall through this year, according to Moody’s and Fiserv. There have been recent signs that the housing market is getting ready to move forward, showing improvement, but there are still likely to be plenty of setbacks along the way. As evidenced by January new home sales data, [...]
January New Home Sales DisappointThe latest information on January new home sales is quite disappointing. Many analysts had been expecting that great mortgage interest rates, along with the home buyer tax credit, would result in an increase in new home sales for the month of January. Unfortunately, this has not been the case.
