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 the [...]
Feb
8
2 Refinacing Options if you’re “Underwater”
February 8, 2010 | Leave a Comment
By Marcia Passos Duffy of Bankrate.com
Homeowners whose mortage balance exceeds the current property value know the futility of trying to refinance. Refinancing options for so-called “underwater” mortgages are limited because most lenders require some equity in the property — ideally about 20 percent.
However, borrowers should not give up hope. Options do exist, especially via the government’s Making Home [...]
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 the recovery [...]