With interest rates and prices at their lowest in years it is very tempting to purchase a home. Here are some key questions to ask yourself which will serve as a reality check before making a commitment to purchase: 1. How much can you afford to put down? This will obviously affect your monthly payment. … More What to Do This Year: Rent or Buy a Home?
According to Bloomberg News, it is becoming clearer that the better way for lenders to deal with defaulting borrowers who are underwater on their mortgages is to offer them a reduction in the principal on their loan as opposed to lowering their interest rate. Doing so restores the feeling of equity for the homeowner. The … More Foregive Debt and Save The Housing Market.