Up until recently, the Obama Administration was all for stemming the tide of foreclosures by suggesting that lenders work out loan modifications and hold off on foreclosures. Recently however there been statements made by those in his administration that clearly point to a change in philosophy on what needs to happen. The administration is now … More Obama administration sings new tune on foreclosures.
While mortgage rates are at historic lows, most experts say that they will begin to rise in 2011. Here are 3 possibilities to explore in order to take advantage of this once in a lifetime opportunity. 1. Consider shortening your term from a 30 year loan to a 15 year loan. With rates for a … More 3 ways low mortgage rates can work for you.
If you are in the market for a new home, watch out for this transfer fee which many developers are charging to new homeowners at the closing of the transaction. Congress is looking into just how these fees must be spent by the developers if charged to the new owner. Lawmakers want to make sure … More Watch for private real estate transfer fees
According to Mark Zandi, chief economist at Moody’s Analytics, more price declines are coming. He is forecasting another 8% drop in home prices through the third quarter of 2011. This will bring the overall national average decline in home values to 32% from the height of the market. This CNN Money article explains the basis … More Home prices expected to slide another 8%