Aug
20
Mortgage rescue to help S.C. residents
August 20, 2010 | 4 Comments
By Katy Stech The Post and Courier Thursday, August 5, 2010 Government money is on the way to help financially struggling South Carolina residents save their homes. U.S. Treasury officials approved a series of homeowner rescue programs that will spread federal grants — from a few thousand dollars up to $36,000 — to homeowners [...]
May
24
Mortgage delinquencies surge to a record
May 24, 2010 | Leave a Comment
According to this article from MSN it looks like it will be a long path to recovery for the U.S. housing market. In this May 13, 2010 photo, a brand-new $1.1 million, 5,200 square foot home in Davie, Fla. is offered for short sale. The number of homeowners who missed at least one payment on [...]
May
20
Should you Buy a Home that’s been Vacant?
May 20, 2010 | 3 Comments
It may seem like a great deal, but be aware of possible expensive repairs lurking inside. By Marcie Geffner of Bankrate.com A for-sale house that’s been vacant may look like a bargain, but buyers should be cautious, because expensive problems often lurk inside homes that have been unoccupied for some time. A home can become vacant due [...]
Mar
8
What is a Short Sale?
March 8, 2010 | Leave a Comment
A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt. Why are [...]
Mar
1
Foreclosure Bargains still around?
March 1, 2010 | 1 Comment
I saw this article on Realtor.com and thought it was quite interesting. It’s a good thing that foreclosures are shrinking-hopefully this means that the housing market is improving and will only get better and better with time. Foreclosure Bargains Getting Harder to Find Home buyers hoping to snag a really good deal on a foreclosed home [...]
Dec
10
Renters get relief from foreclosure
December 10, 2009 | 1 Comment
A new federal law has now come about designed to protect renters from being evicted with little or no notice when foreclosure becomes an issue. It will protect renters from eviction if their landlord loses the property through foreclosure. “The fundamental purpose of the Protecting Tenants at Foreclosure Act is to ensure that tenants facing [...]
Dec
1
Use Caution with Foreclosures
December 1, 2009 | 2 Comments
I ran across this article in USAA Magazine, Winter 2009 and thought it was very helpful if you’re considering buying a foreclosed property. Impulsive or uneducated buyers can find themselves holding the deed to a bottomless money pit if they’re not careful. Here are some tips that could help you out in this situation: Do your homework-search [...]
Nov
3
Today’s top homebuying blunders
November 3, 2009 | 1 Comment
With cheaper home prices, lower mortgage rates and big discounts on foreclosures, buyers have lots of incentives to get into the real estate market. Anyone considering buying a home should still be cautious because the recent financial crisis has created a number of financial pitfalls. To help buyers navigate into this uncertain market, here’s a [...]
Oct
27
Is the Recession Over?
October 27, 2009 | Leave a Comment
According to the officials at Columbia University, the recession ended September 2009. It will have lasted for 21 months, making it the longest recession in modern history. Because the recession coincided with a financial crisis and a real estate deflation, it felt like the worst thing since the Great Depression. It’s likely that [...]
Oct
6
Deep Discounts on Homes?
October 6, 2009 | Leave a Comment
Even though home prices have not hit bottom yet, prices are low enough to draw many bargain hunters. The national median home price has fallen 26% since its peak in early 2006. Foreclosures are now more numerous, especially in places like California, Nevada, Arizona and Florida. Foreclosure prices put pressure on traditional sellers in terms [...]