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Real Estate Articles
Consider Other Foreclosure Options If a Refinance is Unavailable
8 Feb 2010 at 11:12am
In general, foreclosure victims have very poor credit and no equity. This means that the majority of borrowers facing foreclosure and wasting valuable time attempting to apply for a foreclosure loan.

Green Shoots in the Economy - Bankruptcy Increases by 100%
5 Feb 2010 at 4:30pm
In another sign that the average American is becoming increasingly desperate as the current recession deepens, bankruptcy filings are up 100% since the year 2007, according to data recorded by the US Courts. With more economic difficulties and fewer jobs to go around, people just have decreased (or no) income to pay their debts, whether they are credit cards or home loans. The rise in bankruptcy filings is also occurring despite the banks' and lawmakers' attempts to create a modern version of the debtor's prison.

When is it Worth Giving Up on a Property?
4 Feb 2010 at 3:57pm
One of the great benefits of a loan modification used to avoid a foreclosure is that it is a agreement between the bank and the homeowners. The lenders do not want to go through an expensive process of taking the house back just to have it sell for much less than it is worth, and the homeowners wish to remain in their property if only they had a second chance after a hardship and a reasonably affordable monthly payment.

Why You Should Never Pay the Mortgage With Your Credit Cards
3 Feb 2010 at 4:32pm
One of the largest mistakes homeowners can make when they get into a financial bind is relying on credit cards or other short-term loans to see them through the difficulty. They think that they can borrow money at high rates of interest and then pay it back once their income has recovered.

How to Write a Foreclosure Hardship Letter
2 Feb 2010 at 9:09pm
One step of the loan modification or refinancing application that borrowers usually mess up is the hardship letter. Every bank that is considering giving the borrowers an option to avoid the foreclosure process will request a detailed letter documenting what first caused the decrease of monthly payments, as well as what actions have been taken to fix the problem. Many homeowners, though, include very minimal hardship letters that explain almost nothing about what transpired, what has been done to remedy the situation, and why the financial crisis was only temporary in nature.

Forensic Loan Audits - Are They Useful to Foreclosure Victims?
2 Feb 2010 at 11:43am
With all of the new plans and ideas that the housing industry and government are rolling out to help homeowners save their homes from foreclosure, it seems new terms and acronyms are being born everyday. One of the most bewildering that has come into common acceptance is a "forensic loan audit," which is being sold to numerous homeowners.

How Modifying Your Loan Affects Your Credit Score
2 Feb 2010 at 9:42am
While modifying the terms of a mortgage can be a great plan for some borrowers, few people have really questioned how a modification will be presented to the credit agencies. They are somewhat similar to refinancing a property.

Using Debt Settlement With a Loan Modification
29 Jan 2010 at 10:33am
As credit card companies continue to increase rates and gouge their customers, debt settlement or debt management is becoming increasingly popular. Debt settlement is the act of eliminating a portion of the debt.

Loan Modification - Important Information to Get You Qualified
27 Jan 2010 at 8:39am
When you are facing a possible foreclosure, the last thing you want is another disingenuous plan of action that results in little to no monetary help for your situation. Luckily, loan modification options do not fall into this category. Before you investigate too far into the steps of altering your home mortgage, you surely want to grasp as much documentation about the concept as you can.

How You Can Fight the Foreclosure Process in Florida
23 Jan 2010 at 8:38am
Foreclosures are processed out through local court proceedings. The entire process starts when you fall at least thirty days behind on your mortgage payments.

Lower Your Bills, Then Negotiate For a Loan Modification
22 Jan 2010 at 9:23am
When you are facing foreclosure, a great help to your unstable financial situation is the possibility of getting a mortgage modification. This is when the original terms of the mortgage on your home are altered so you can make more affordable payments on time.

Foreclosure Statistics Throughout the Country's Real Estate Industry
19 Jan 2010 at 10:48pm
One of the largest unavoidable concerns for owners today is the seemingly overwhelming number of foreclosures throughout the nation. 2008 was a horrible year. Foreclosure activity was rising 90% nationwide from 2007.

Negotiate With Your Bank For a Loan Modification to Halt Foreclosure
18 Jan 2010 at 10:38pm
Usually, the process of foreclosure does not start until you have incurred three periods of nonpayment on your loan. If you see this becoming a possibility in your current financial state, now is the time to act.

Some Reasons Why the Government Foreclosure Relief Programs Have Been Disappo...
13 Jan 2010 at 6:05pm
The United States government is aware of the rising number of foreclosures in these troubling economic times. Bailout plans have been put in place and it has been said that between 8 and 9 million inhabitants have the possibility of qualifying for help to avoid the foreclosure of their home. However, what it comes down to is the question of whether these government bailout plans are working or not.

Foreclosure Help - What Are the First Steps?
12 Jan 2010 at 12:52pm
If you are facing foreclosure now or far enough behind in your payments to worry about the possibility, getting foreclosure assistance needs to be your first priority. The worst thing you can do is avoid dealing with your financial problems. One of the most common mistakes people make is refusing to speak with their banks when they call.

Is a New Canadian Housing Bubble Forming?
8 Feb 2010 at 4:15pm
Tim Iacono submits:

China isn't the only place where they are talking about a housing bubble again these days and this morning's papers were sprinkled with reports on the subject. It would seem that, after the events of the last ten years or so, about the only way to be sure that there is a bubble is when you hear a high ranking government official deny its existence and that's exactly what happened north of the border according to this story in the Globe and Mail.

Ottawa says housing bubble not a concernFinance Minister Jim Flaherty appears to have no immediate plans to tighten Canadian mortgage rules despite the advice of senior bankers concerned about surging home prices.

Complete Story »

Should Tax Expenditures Be Limited?
8 Feb 2010 at 12:46pm
Jeffrey Frankel submits:

The National Tax Journal asks for views on a recent proposal from Len Burman to limit tax expenditures. My answer: I couldn’t agree more.

With regard to the politics, one would have to see whether the phrase “cut tax expenditures” polls more like the phrase “cut expenditures,” which I assume polls well, or like the phrase “raise taxes,” which of course polls horribly. I have no idea. But at least there is a hope of breaking through the ridiculous artificial “Taxes versus Spending” rhetoric that dominates Washington.

Complete Story »

U.S. Prime Jumbo RMBS Delinquency Rate Could Top 10% by Next Month
8 Feb 2010 at 12:15pm
Research Recap submits:

U.S. prime jumbo loan performance continued to weaken in January as serious delinquencies rose for the 32nd consecutive month, according to Fitch Ratings.

Although prime jumbo loan delinquencies began to rise in the second quarter of 2007, they accelerated in 2009 nearly tripling over the course of the year. Florida saw the biggest monthly jump of the five states with the highest volume of jumbo loans outstanding.

Complete Story »

Looking for Value in Homebuilders
8 Feb 2010 at 4:00am
Kehong Wen submits:

Last week saw earnings releases from many of the nation’s largest home builders including DHI, MDC, SPF, MHO and BZH. It was a busy week. All reported their first profit, largely due to loss carry-back tax credit, since the downturn. Without the tax credit, most builders would still have been producing a loss. But by and large the amount of loss and the amount of asset write-down appeared to have come to an end.

New home sales are at the lowest point in two decades. Against the backdrop of foreclosures and short sales, new home inventory is also at a depressed level. An army of private builders have gone out of business, due to lack of refinancing. The remaining group of public builders now has ample cash reserve, lean workforce, much reduced balance sheet, much lower level of leverage, and lower level of competition than before.

Complete Story »

Housing Heating Up in Canada
8 Feb 2010 at 3:27am
David Tsao

News about mortgage rules in Canada are surfacing again. With the average price of a home reaching $337K in December 2009 (a 19% increase from the same period a year ago), the big banks urged the Canadian government to tighten lending requirements by shortening amortization rates to 30 years and bumping up minimum the down payment on a home purchase to 10%.

Unfortunately there seems to be some confusion as Canadian Finance Minister Jim Flaherty thinks there is "no clear evidence now of a housing bubble in Canada." I'm not sure what planet he lives on. I applaud the bank's willingness to let go of short term profits in order to avoid issues similar to the US. People can debate whether the Canadian housing market is in a bubble or not, but what is certain is that a housing correction will take place.

Complete Story »

Lumber Futures Surge Before Housing's Last Gasp
8 Feb 2010 at 2:25am
The Pragmatic Capitalist submits:

Lumber futures have surged nearly 60% since the beginning of October despite mixed signals in recent housing data (read Mike Farrell’s must read housing comments here). Random Lengths recently reported the continuing substantial weakness in housing as lumber production declined 23% vs 2008:

U.S. lumber production through November totaled 21.205 billion board feet, down 23.0% from the January-November 2008 figure, according to the Western Wood Products Association. Through the first 11 months last year, production in the West declined 22.3% compared to the same period of 2008; production in the South fell 23.7% during the same period. Nationwide, November 2009 production totaled 1.620 billion feet, down 16.6% from the November 2008 total and off 18.9% from October 2009.

Complete Story »

Three Graphs Illustrating Current Household and Government Spending and Savin...
6 Feb 2010 at 1:15pm
Annaly Salvos submits:

The first two graphs illustrate how different actors in our economy are behaving through the current environment. Households, businesses and financial institutions alike have begun the process of increasing their savings, refinancing their debt and de-levering their balance sheets. It’s a painful but necessary process. The progress made by the private sector, however, has been more than offset by the borrowing and spending of federal, state and local governments.

The headline savings rate that we usually think about is the household one, but the same calculation can be applied to the government. On a national level, think of households, businesses, financial institutions and governmental entities all contributing their savings to one big piggy bank. The first graph below (click to enlarge) shows what each is contributing to our national piggy bank in the form of net savings. Gross savings is simply income less expenditures, and net savings is calculated by subtracting the consumption of fixed capital from gross savings. As the graph shows, net savings of the private sector has been generally rising and net federal government savings lately has been plummeting.

Complete Story »

The Unburst Property Bubble
5 Feb 2010 at 8:08am
Felix Salmon submits:

Brett Arends is in London, and, like most visitors, is shocked at the prices for everything from taxis to houses.

If London real estate is buoyed by the uniqueness of the town’s economy, there is a disturbing degree to which the reverse is also true. This is a ridiculously expensive city to visit. I seem to hemorrhage money with every step I take. I was wondering, as I got out of a taxi the other night and severed the requisite two limbs to pay the fare, how I ever afforded to live here all those years.

Complete Story »

Housing Costs and Why We Keep Getting Poorer
4 Feb 2010 at 10:51am
Charles Hugh Smith submits:

The reason why we're poorer: more of our income goes to housing than it did 35 years ago.

Simply put: housing costs have far outpaced household incomes over the past 35 years, making the high cost of housing the primary driver of declining discretionary income: what's left after paying taxes and housing.

You might want to refill your coffee or tea cup because we have to slog through some potentially confusing numbers to root out the truth.

Complete Story »

Contemplating the Fed's Exit
4 Feb 2010 at 4:27am
Annaly Salvos submits:

On many occasions, and in many different forums, the Federal Reserve has expressed every intention of winding up its $1.25 trillion program for buying agency MBS by March 31.

The FMOC explained in its January 27th statement:

Complete Story »

Housing Recovery? 'Strategic Defaults' Tell a Different Tale
4 Feb 2010 at 4:13am
Surly Trader submits:

Let us all get one thing straight, this is an investment-led recovery. Asset prices have rallied strongly from their March 09 lows and corporations have done a phenomenal job of quickly cutting costs and returning to profitability. The casualties reside with the U.S. Government and the U.S. consumer. With an unemployment rate of 10%, housing prices off their highs by more than 30%, and equity markets still 30% away from their highs the average American is feeling the squeeze. Loan delinquencies and defaults are still reaching new highs. The data does not lie:

Click on charts below to enlarge:

Complete Story »

Has the World Lost Its Appetite for U.S. Treasurys?
4 Feb 2010 at 1:57am

After looking at yesterday's 21 day Treasury auction, you have to wonder:My Take:As you can see above, despite a strong BTC, the number of indirect bidders in yesterday's auction was ZERO! Indirect bidders are mainly composed of the central banks of the world, while the primary dealers are made up of the banksters like Goldman Sachs (GS) and Morgan Stanley (MS).

Complete Story »

IRS Form 4506: Another Reason Why Real Estate Defaults Will Explode This Year
4 Feb 2010 at 12:54am
Bruce Krasting submits:

The government is flooded with loan modification requests at this point. They have been working through this disaster at an ever increasing rate. They are now doing close to 100,000 per month. But the bad news is the pipeline is full. There are at least 3 million homeowners who need/want some form of adjustment on their mortgage cost. The word is out on this one in every corner of the country. If you want a break on your mortgage the first step is you have to stop paying for at least three months. I know for a fact that this is correct. I have seen it in a half dozen cases in just the last year. The banks/mortgage servicer will tell this to you on the phone. “You don’t qualify for debt relief, you’re not 90 days late”. In my experience the person on the other end of the line hears this and says to their spouse, “Honey, I have good news! We’re going to get the break we need. All we have to do is stop paying the bills”.

Complete Story »

Avatar Holdings: Throwing Good Money After Bad?
4 Feb 2010 at 12:09am
Saj Karsan submits:

Avatar Holdings (AVTR) owns and develops land for a variety of uses, including single-family homes. As most of its operations are in Florida and Arizona, its business conditions, as well as its stock price, have taken a beating in the last couple of years. While it might represent value at its current price, in a way similar to which Melcor (MODVF.PK) traded at a large discount to its value not too long ago, management's intentions make the situation a little bit unclear.

The company has lost almost $10 million per quarter in 2009, as it struggles to sell its units for more than their carrying value. While this is by no means a pretty situation, consider the depressed level of the stock relative to the company's assets:

Complete Story »

Edward DeMarco: The Only One in D.C. Telling the Truth About Fannie and Freddie
3 Feb 2010 at 12:24pm
Bruce Krasting submits:

Edward DeMarco, the acting head of FHFA, wrote a letter to some heavy hitters in Washington: Sen. Dodd-Banking, Sen. Shelby-Banking, Congressmen Frank-Financial Services and Bachus-Financial Services. The letter was a cry for help. I sincerely hope that these important legislators do not ignore this SOS. If they do, some irreversible damage will have been done. Hundreds of billions of dollars are at stake. Even more significant, the direction of the government's future role in the mortgage market is going to be shaped by the corporate Exec’s at Fannie (FNM) and Freddie (FRE). There could not be a worse outcome. DeMarco laid it all on the line. He described the terrible mess that Fannie and Freddie are in. His words: “These calls on taxpayer funds are troubling to all of us.”

Complete Story »

Real Estate - Buying in a Buyer's Market
30 Nov 2009 at 5:21pm
Real estate markets across the world have taken a beating like we haven't seen in a very long time if ever. When Dubai is asking to delay its debt payments, you know things are tough all over. Well, it is tough if you are a homeowner or seller. For buyers, this is the market of all markets!

Real Estate - Why it is a Great Time to Buy
30 Nov 2009 at 5:21pm
Any discussion of the real estate market in the last few years has been couched in terms of doom and gloom. From massive inventories to falling prices, there hasn't been much of a bright spot. Having said that, things always turn around at some point and it is hard to imagine a better time to buy than now.

FSBO Sales - Show it and They Will Come
24 Nov 2009 at 1:54pm
The web has made selling real estate for sale by owner, better known as a "FSBO" seller, so much easier than it used to be in the old days. That being said, some FSBO sellers shoot themselves in the foot by failing to properly use images to show their home to potential sellers.

Home Sales Jump - The Good and Bad
24 Nov 2009 at 10:21am
The real estate market has been so brutal for so long that it is often hard to find anything to be particularly excited about. Well, there is finally some great news - home sales jumped over ten percent in October 2009. This news, however, comes with some good and bad twists.

Real Estate - Be a Contrarian
10 Nov 2009 at 8:12pm
The nature of a contrarian is to look at the general consensus and then act in the opposite manner. This can happen in any niche as we've just seen with Warren Buffet buying a railroad company, an investment he used to scorn! Well, you probably don't have 30 billion or so to buy your own railroad company, but a huge contrarian opportunity exists in real estate at the moment.

Real Estate - The Relationship Between Housing and Jobs
10 Nov 2009 at 8:12pm
The Great Recession is officially over based on a technical analysis by economist. For the rest of us, it feels like it is still here front and center. The biggest issue at this point is the status of the job market. This is particularly important when considering the relationship between the housing market and employment.

Real Estate Marketing Tip - YouTube It!
3 Nov 2009 at 2:51pm
The web has revolutionized the field of real estate like no other niche. Well, maybe excluding online dating, but you get the point. The web has allowed people to point and click instead of driving endless miles wasting time and money on the weekend. While most people know they should market online now, there is an additional step most fail to take.

Selling Your House in This Economy - Critical Basic Steps
3 Nov 2009 at 2:50pm
Sometimes we get to sell our residences when we want to and sometimes we have to sell because we really have no choice. A lack of choice is probably the reason for any sale in this market. Regardless of how you get to the decision, the key to selling in this market is to return to the basic, critical steps for any sale. Let's take a look.

When Your Real Estate Agent Gives Legal Advice
28 Oct 2009 at 1:36pm
Real estate agents are in the game of buying and selling homes. At their core, they are sales people and rightly so. Given this fact, you need to be very leery of any real estate agent that offers legal advice. Why' They haven't got a clue and are potentially breaking the law.

The Long View on Real Estate
28 Oct 2009 at 1:33pm
The nature of an economic crisis is such that we tend to focus on the sky falling in the short term and miss out on long term opportunities. The current status of the real estate market is one such situation.

Detroit - When a Real Estate Market Falls Off the Edge
15 Oct 2009 at 4:14pm
The last few years have seen much nervous discussion about just when the real estate market will hit bottom. Underlying such discussion is the inherent fear of just how low can values go' One needs only look to Detroit to see the nightmare scenario.

This is a Real Estate Recovery?
8 Oct 2009 at 11:34am
The Great Recession is over! Well, at least that is what we keep hearing. In truth, the technical indicators show the recession is at an end, but the anemic recovery is going to make it hard to see any positive bright lights. One need look no further than the current real estate market.

Being Aware and Understanding Foreclosure Laws
8 Feb 2010 at 1:55pm
Generally, laws differ from one state to another. However, some states have corresponding laws that could help you a lot in dealing with foreclosure.

Making Yourself an Instant Professional - Laminate Flooring Installer
8 Feb 2010 at 1:36pm
Choosing to use laminates as your flooring could be a bit tricky. Even the very first thing that you have to do once you have acquired your planks is...

Fund Raising Tip - It Isn't All About Money
3 Feb 2010 at 3:41pm
Fundraising isn't all about checkbooks and making money. In order for your fundraising event to be successful, you must take this ultimate fund raising tip in mind:

What's Your Bathroom Style? The Bathroom Home Improvement Guide
2 Feb 2010 at 1:08pm
With so many factors to consider, coming up with a bathroom home improvement is no slam dunk. A homeowner's primary concern is the budget and one that offers extreme functionality.

What to Expect With Infrared Saunas
1 Feb 2010 at 4:49pm
Infrared saunas present a new age approach to sauna baths or treatments. Instead of producing heat through steam or hot air, this warms the objects on contact. This would mean that the person's body would be able to directly absorb the heat, hence doubling the efficiency of the session. The amount of sweat you will produce will be more in less time. These are known to have a temperature of at least 80 degrees Celsius.

Tired of the Same, Boring Style? Here Are 3 Ways to Avail Home Improvement Loans
29 Jan 2010 at 3:59pm
If you're living in a house that is eons older, you might want to consider increasing its value, beauty, and functionality. But if your pocket is struggling to make...

Wondering How to Raise Funds? Here's a Range of Must-Dos For Successful Fund ...
29 Jan 2010 at 10:08am
Forget about candy bar tricks or the ticket selling cants that are so old school. If you're talking about fund raising services done in a modern and innovative way, then there must be some volunteering, elbow grease, and real action involved. By doing something out of the ordinary, you can easily get through your objectives of raising funds for whatever purpose the raised money is intended for.

Benefiting From Foreclosure Investing
28 Jan 2010 at 11:28am
A foreclosure happens whenever a homeowner fails to adhere to his repayment terms for his housing loan, forcing the bank to reclaim the property and to sell it at a lower price. Sometimes, a homeowner may also choose to sell the property himself before the bank confiscates the property.

Keeping Your Marble Flooring a Constant Marvel to All
28 Jan 2010 at 11:22am
Marble floorings do justice at every house's finishing. No wonder, many took advantage of the chance to decorate their shelters with such...

Living Your Dream With Home Renovations
10 Dec 2009 at 1:48pm
It all begins with a dream - you are happy with the current home you are in, one that you have worked so hard to get after all the mortgage payments, one that you have made so many memories in, one that has provided you with shelter and protection. But then, you suddenly find yourself thinking of some what ifs. This article will look at a few ideas for your home.

What to Do in the Case of a Mobile Home Foreclosure
9 Dec 2009 at 10:36pm
A mobile home foreclosure usually happens just like any other foreclosure with a normal house. If a borrower fails to pay his or her mortgage for three...

Things That Can Be Done to Stop Mortgage Foreclosure
9 Dec 2009 at 11:00am
There are actually so many things that a borrower can do to stop mortgage foreclosure of his or her home. A key to avoiding foreclosure is, like...

Some Affordable Mobile Home Remodeling Suggestions
9 Dec 2009 at 8:20am
If you are a proud owner of a mobile home, then you should know that like ordinary "immobile" homes, mobile homes also need some upkeep and would benefit a lot from some renovation or remodeling every 6 to 8 years or so. This article will look at some possible suggestions.

Are You Wondering How to Stop Home Foreclosure? Here's What to Do
7 Dec 2009 at 3:14pm
The most effective way to stop home foreclosure is to nip it in the bud. The earlier you can stop it, the better. This is due to a lot of reasons. This article will look at some reason why you should jump quickly to get this issue resolved.

Be in the Know About Kitchen Remodeling
7 Dec 2009 at 3:12pm
Deciding on doing some kitchen remodeling would highlight your commitment preparing your daily meals. Having a swanky kitchen does increase your house's value. Of course, people who will cook in your house will definitely appreciate a place where cooking is comfortable and fun.

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