Is Finishing Your Basement Worth It? How This Change Could Help Sell Your Home!
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You've fantasized about a mancave. Okay, maybe one of you has fantasized about a mancave and maybe one of you has some other ideas like having an in-home workout space, an office or a playroom for the kids. No matter what you need the extra space for, a finished basement can almost always benefit you in the future when you decide to sell your home. Surprised? It's commonly said that putting money into finishing a basement isn't Read more
President Obama’s American Recovery & Reinvestment Act: What This Stimulus Package Could Mean for Housing
With a new President in office and the economy posting worse news every day, it’s clear to everyone that there is an inherent need for something to be done….fast.
Before even taking office, President Obama introduced his ideas for a stimulus, which has been translated into a bill, The American Recovery and Reinvestment Act. The bill has been moving quickly and was just passed by the House. Being very familiar with Schoolhouse Read more
Bankruptcy Cram Down Could Reduce Foreclosures 20 Percent
Proposed legislation that would allow bankruptcy judges to modify the terms of mortgages on primary residences could reduce foreclosures by 20 percent, according to a report from Credit Suisse.
The investment bank’s analysts believe that if such legislation were to become law, it would prompt banks and lenders to step up loan modification efforts.
“We expect the new bankruptcy reform will increase Read more
Fannie Mae Could be Your New Landlord
After previously announcing that it wouldn’t kick out any tenants of foreclosed properties through the end of January, Fannie Mae has stepped up efforts with the establishment of its so-called National Real Estate Owned (REO) Rental Policy.
Going forward, those renting a Fannie Mae-owned foreclosed property will be offered new month-to-month leases based on market rents for the area with no security deposits, or Read more
High Cost Loan Limit Drop Could Hinder Borrowers in 2009
As the New Year gets underway, a number of new laws are in effect, including things like bans on texting while driving.
With regard to mortgage, loan limits have also changed, which could mean big, bad surprises for those looking to refinance or purchase a new home in more expensive areas of the country.
As of January 1, the so-called high-cost conforming loan limit fell roughly 14 percent from $729,750 Read more
27 million ‘could pay less for loans’
Millions of British borrowers with personal loans and credit cards could save money just by asking their lender for a lower interest rate, it has been claimed.
Fool.co.uk says that up to 27 million loan and credit card customers are missing out on potential savings because they think the rates they are offered are ‘set in stone’.
However, one in ten loan and credit card customers have successfully negotiated a lower Read more
Foreclosure Filings Rise for 34th Consecutive Month; Streak Could End
Foreclosure filings were reported on 279,561 U.S. properties in October, a five percent increase from the previous month and a 25 percent increase from the same period a year earlier, RealtyTrac reported today.
However, thanks to recent legislation, foreclosure filings have dropped precipitously in key states, most notably, California.
In the Golden State, overall foreclosure activity was down by double-digit Read more