That makes four months now of about flat new home sales and, like the ten month stretch of relatively flat existing home sales, it’s possible that sales volume has gone about as low as it’s going to go.
Of course, that doesn’t mean sales are likely to go any higher anytime soon and, with foreclosures setting [...]
The housing market decline that has triggered a wave of foreclosures and deeply eroded recent home equity gains is also opening the door to ownership for renters who can meet tightening lending standards.
With the departure of the easy credit terms that triggered the mortgage market meltdown, lenders have raised the bar on who can qualify [...]
For years, Ed McMahon promised wealth, comfort and happiness as a pitchman for the American Family Publishers’ sweepstakes. Now, he could use some of that cash himself.
As of Wednesday afternoon, McMahon’s Mediterranean-styled house was still in the process of foreclosure; the bank hasn’t taken it over yet and no trustee sale date has been set. [...]
U.S. home builders, struggling under sinking demand and a credit crisis, now face a fresh obstacle: competition from a flood of homes in foreclosure.
Grappling with the worst U.S. housing market downturn since the Great Depression, home builders have curbed their building activities. They’ve also been slicing through their inventories of unsold homes by slashing prices [...]
Philadelphia courts will launch a pilot program next week requiring mediation between homeowners and lenders before foreclosure can occur.
The program is one part of a plan Mayor Michael Nutter unveiled Wednesday to address a nationwide mortgage crisis affecting many Philadelphia homeowners.
The city has already taken steps to address the problem, including delaying the sheriff’s sales [...]
Some East Bay residents are calling on three national banks to renegotiate their mortgages to help them avoid losing their homes.
About two dozen people protested outside the Antioch branches of Countrywide, Wachovia and Washington Mutual on Friday.
The protest was organized by a Contra Costa County interfaith group that wants the banks to convert customers’ risky, [...]
Home equity loans grew popular in the 1980s, as lenders let homeowners borrow as much as 100 percent of their equity. But in 2007, that practice was given a major overhaul.
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During the wild and bullish price run experienced across housing markets at [...]
Home equity loans have turned easy credit into imminent disaster for insatiable borrowers. Soon, America may slide head-on into a mortgage-fueled recession.
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The current administration has racked up unprecedented debt, spending money as if there were no tomorrow. As the dollar continues to [...]
When Plato said, “Necessity is the mother of invention,” he probably wasn’t thinking about homeowners who are having trouble making ends meet. However, rising interest rates have enlarged monthly mortgage payments, and people need to find creative ways to boost cash flow.
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Leveraging your home equity can be an easy, affordable way to borrow lots of money. Make sure that the risks don’t outweigh the rewards.
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When you’re about to close a home equity loan, you might feel like doing the Risky Business dance [...]