Latest News in Mortgages and Home Loans- July 07, 2009

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4th of July: Some Reflections
This weekend we celebrate the 4th of July. It’s a time when we commemorate the signing of the Declaration of Independence. Of course, the signing didn’t take place exactly on the 4th (more like shuffling people in and out to sign the document over the course of two or three days). But that’s not really [...]

Unemployment Approaches 10%; Foreclosures Likely to Continue
Image by nuttyxander via Flickr
Today, the government released its non-farm payrolls unemployment report. The news, as expected, remains somewhat grim: The unemployment rate in June reached 9.5%. This is slightly better than the anticipated 9.6% unemployment rate.
The fact that things aren’t quite as bad as analysts expect offers cold comfort. Sure, the rate of rising [...]

Prime Borrowers Hit By Foreclosures
The rate of foreclosure continues to increase. Foreclosures have been moving like a wave through borrowers as the recession has progressed. What started as something mostly confined to subprime mortgages has moved steadily through Alt-A mortgages and now to prime mortgages. Indeed, delinquencies on prime home mortgage loans have doubled, showing that the recession is [...]

Should You Buy That Fixer-Upper?
Image via Wikipedia
Right now, it’s all about the deals on the housing market. There are a number of incentives, not to mention the great deals on home prices as the market continues to look for a bottom. And, if you are willing to buy a fixer-upper, you can really make a killer of deal. In [...]

Selling Your Home Fast in This Market
If you are trying to sell your home, you know that it is most definitely a buyer’s market. Plus, there is a good chance that your home will be on the market for months before you manage to sell. This means that you may need to take drastic action in order to sell your home [...]

New York Moves Forward with Mortgage Investigation
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One of the questions that has some concerned has little to do with mortgage fraud. It has to do with the way mortgages have sometimes been handed out. The New York attorney general’s office, back in 2005 (when Eliot Spitzer was a.g.) launched an investigation into whether or not mortgage lenders were discriminating. [...]

Michael Jackson Leaves Behind Troubled Finances ? Including a Home in Foreclo…
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We all know by now that even the rich and famous can end up poor and infamous. Indeed, being famous cannot completely guard someone against making poor money decisions. After all, people are people, and some never learn the importance of financial discipline. Many of the richest people fall on hard times by [...]

Economic News: Unemployment, GDP
Image by Getty Images via Daylife
Sure, the housing market is an important part of the economy. But there are other considerations as well. Indeed, without jobs and an expanding GDP, the housing market is likely to continue to languish. Today’s data releases have caused some concern about the economy.
Unemployment
Unemployment claims continue to rise. The pace [...]

Top 10 Most Expensive Cities to Buy a Home ? In the World
Even with the global economy slowing, there are still places that have high home prices. And, while we think of places like Los Angeles, Washington, D.C. and Seattle as expensive places to buy a home, they are not even the most expensive in the world. In fact, only New York City made the list [...]

Money Begins Flowing for the Neighborhood Stabilization Program
Last summer, $6 billion was approved to help the Neighborhood Stabilization Program prevent blight caused by foreclosures. The money is designed to help state and local governments buy up foreclosed properties so that they can be offered to those with lower incomes, and others who might be locked out because of tighter lending. CNN Money [...]

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