Brent White, a law professor has written a book for those who are faced with the painful decision for those homeowners who are so “underwater” on their homes as it relates to their mortgage indebtedness compared to the value, that they are considering whether to just walk away from their mortgage. According to White, “the … More Walking Away From Your Home, For Dummies?
Lenders have been forced to hit the “pause” button on foreclosures due to the recent discoveries as to the faulty documentation and procedures used as they moved towards foreclosure on homes. This CNN Money article points out the largest drop in foreclosures month over month since Realtytrac started keeping records on this. Read article
According to a recent survey conducted by Fannie Mae, the housing bust hasn’t put a dent in the desire to own. The details of the survey, as reported in this article from CNN Money, does point out however that the main motivation to own, which used to be for financial considerations, has been replaced with … More Housing bust? So what? We still want to own?
With prices so low many people are taking advantage of the opportunity to buy a second home. This U.S. News article reviews 3 issues to consider if you are considering taking advantage of this opportunity. Read more
The tax code changes that are being voted on this week will only act as a temporary fix to the issues faced by our legislators to try to reduce the deficit. The biggest problem for most Americans is the inability to make long term plans with their finances and their estates due to the ongoing … More “Temporary” Tax Code Puts Nation In A Lasting Bind.
A presidential deficit commission has already proposed reducing the mortgage interest deduction, something homeowners have taken advantage of since 1913. Now they will propose an overhaul of Fannie Mae and Freddie Mac, the two mortgage titans that are backed by the federal government. These proposals taken together show a clear move away from the policies … More Homeowner Perks Under Fire.