cbs moneywatch: President Obama's Housing Plan Gets Mixed Reviews - 02/03/12 11:36 AM
In his State of the Union speech last week, President Obama called for an end to the red tape that plagues underwater homeowners looking to refinance.
According to the new mortgage refinance plan the White House plans to send to Congress, big banks would be forced to foot the bill, which could total anywhere from $5 billion to $10 billion. The plan would allow private-label mortgages - not those guaranteed by Freddie and Fannie - to refinance through the Federal Housing Administration (HUD).
In a speech at Falls Church, Va., on Wednesday, President Obama said:
"I want to be clear. This … (0 comments)
|
cbs moneywatch: Mortgage Rates Fall Again - 02/02/12 04:53 PM
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), mortgage rates have fallen to historic lows yet again.
Frank Nothaft, vice president and chief economist at Freddie Mac, attributes the falling rates to an economy that's growing slower than experts had hoped for:
"Most mortgage rates eased to all-time record lows this week as fourth quarter growth in the economy fell short of market predictions," Nothaft writes. "The Gross Domestic Product (GDP) rose 2.8 percent in the final three months of 2011, below the market consensus forecase of 3.0 percent, while consumer spending in December was flat."
"One bright spot, … (2 comments)
|
cbs moneywatch: FHA Tightens Lender Standards - 01/23/12 11:31 AM
On Friday, the Federal Housing Administration (FHA) announced it would toughen standards for lenders authorized to insure mortgages on its behalf, without first submitting documents to the agency. This news comes after it was revealed the 30-day delinquency rate on FHA mortgages neared 18 percent in December.
Some experts warn that FHA could soon require a bailout, something Main Street Americans certainly don't need. FHA Commissioner Carol Galante hopes the rule changes will loosen credit for borrowers and help speed up the housing recovery.
Some of the key changes include:
A stronger approval process Stricter monitoring of FHA-approved lenders Compensation to … (4 comments)
|
cbs moneywatch: Housing Market Poised for Turnaround in 2012? - 01/20/12 03:37 PM
This week was big for housing news, and the latest data suggests there's reason for cautious optimism about this year's real estate market. U.S. loan delinquency rates fell in year-over-year in December, down 7.7 percent from 2010. That rate is unchanged from November, but represents a significant drop from the previous year.
Some more good news?
Housing starts rose year-over-year in December, climbing 24.9 percent from 2010. Rates on a 30-year fixed mortgage fell to yet another all time low, hitting 3.88 percent. Of course it's not all good news. Even with the year-over-year drop in delinquencies, there are still 6.1 … (4 comments)
|
cbs moneywatch: Five Things To Do Before You Move - 01/18/12 11:05 AM
Moving is exciting, but it's also stressful. The packing, unpacking and cleaning can get to be too much for just about anyone, but these helpful moving tips should make your new house feel like a home in no time.
The full list is on my CBS MoneyWatch blog, but here are a few of my favorites:
Change the locks on the doors. This one is a must-do. There's no way to know for sure how many people have copies of keys, so err on the side of caution and change your locks. This is a surefire way to make you feel … (0 comments)
|
cbs moneywatch: The Homes of the GOP Candidates - 01/16/12 11:17 AM
The GOP presidential race is in full swing and, as always, the media is tracking the candidates' every move. From what they wear to where they live, Americans want to know everything they can about the Republicans running for office.
The candidates' homes are nothing short of extraordinary. Democrat, Republican or neither, politicians have long tried to appeal to Main Street Americans while living lifestyles their constituents can only dream of.
The candidates hope to trade these homes for the White House. Some of the nicest on the list?
Mitt Romney's beachfront home in La Jolla, California - he purchased the … (1 comments)
|
cbs moneywatch: Oddly Shaped Houses - 01/13/12 12:21 PM
Anyone who has ever been house-hunting knows that after you see enough houses, everything begins to run togther. When you've visited tons of open houses, it's hard to remember which home was a ranch and which a split-level. But there's always a place that's unforgettable, and it's likely these oddly shaped houses are in that category.
From circle to square to parallelogram, these homes are certain to stick out from the rest. If you're interested, make sure you have a large price range: the houses on this list go from $185,000 to $14.5 million.
In Sarasota, Florida, this five bedroom, five … (6 comments)
|
cbs moneywatch: Foreclosure Rates Fall in 2011 - 01/12/12 11:41 AM
According to a report released by RealtyTrac today, foreclosure filings fell 34 percent in 2011. That seems like good news, but it's deceiving. The reason behind the decline is not more people paying their mortgage, but the robosigning controversey that spurred lenders to perform a massive review of foreclosure proceedings.
The review meant lenders stopped processing new foreclosures while they cleaned up their existing inventory. This created a huge backlog in the foreclosure pipeline. So, while it ultimately decreased the number of filings in 2011, it also means lenders will be playing catch-up this year.
According to Brandon Moore, CEO of … (3 comments)
|
cbs moneywatch: Freddie Mac Gives Unemployed Homeowners a Break - 01/10/12 10:52 AM
Last Friday, Freddie Mac announced unemployed homeowners will be allowed to reduce to suspend mortgage payments for up to a year under a new policy announced by the mortgage finance firm. The new rules will take effect on February 1, 2012.
According to the news release, Freddie Mac will give mortgage lenders the authority to extend forbearance without prior approval for six months, and the agency can extend approval for up to an additional six months after that.
Homeowners are still responsible for paying off their full mortgage plus interest after the forbearance period ends.
Previously, Freddie allowed lenders to grant … (2 comments)
|
cbs moneywatch: College Town Real Estate Trends - 01/06/12 12:38 PM
It's only January, but for many families that means college planning is in full swing. Whether your child is headed to college next fall or a junior in high school deciding on which college to attend, it's time to start planning for the future. Considering the cost of tution and housing, some parents are looking into purchasing college town real estate.
One of the biggest expenses associated with college is housing. According to scholarships.com, the average cost of room and board fees at a four-year college or university runs nearly $10,000 per year. That number could be even higher, depending on … (2 comments)
|
cbs moneywatch: FHA Extends Anti-Flipping Waiver Through 2012 - 12/29/11 10:38 AM
There was big news from the Federal Housing Administration (FHA) yesterday: The FHA anti-flipping waiver, which was set to expire at the end of this month, has been extended through 2012. The hope is this extension will encourage the sale of foreclosed homes, stimulating those areas which have been decimated by the foreclosure crisis.
Carol Galante, acting FHA commissioner, had this to say yesterday regarding the move: "The extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight. FHA remains a critical source of mortgage financing and stability and we must … (9 comments)
|
cbs moneywatch: Winter Home Maintenance Tips for 2012 - 12/28/11 10:22 AM
It's that time of year again: Snow, ice and freezing temperatures are part of the daily grind, and if you're not careful, they can wreak havoc on your home. Winterizing your home is key to preventing disaster this holiday season, and if you haven't done it already it's best to get started before temperatures drop any further.
But where do you begin? Check out the winter home maintenance checklist on my CBS MoneyWatch blog for some tips from Traveler's Insurance.
Clean your gutters. This is important, as it keeps snow and ice from building up on the roof and leaking into … (4 comments)
|
cbs moneywatch: Famous Holiday Movie Homes - 12/21/11 12:02 PM
If you haven't already noticed, I love the holidays - I've been blogging about Christmas since the beginning of December. On my CBS MoneyWatch blog this week, I give my list of the best holiday movie homes. From Ralphie's house in "A Christmas Story" to the brightly lit Griswold home in "Christmas Vacation," a look at these homes will get you in the holiday spirit.
A few of my favorites on the list:
"A Christmas Story": From the leg lamp shining through the window to the iconic front porch, this home epitomizes Christmas for many people. It's been turned into a museum, so … (4 comments)
|
cbs moneywatch: Home Values Drop Further in 4Q 2010 - 02/09/11 11:02 AM
No, it isn’t “all in your head.”
U.S. home values declined further in the fourth quarter of 2010, posting their largest quarter-over-quarter decline since Q1 2009 according to Zillow’s fourth quarter Real Estate Market Reports.
Home values dropped 2.6 percent, and the effects of the home buyer tax credits are being blamed.
Worse, negative equity (also known as underwater mortgages - where home are worth less than the mortgages attached to them) rose to 27 percent of all single-family homes with mortgages. That’s up from 23.2 percent in Q3 2010.
When they were in effect, the home buyer tax credits … (1 comments)
|
cbs moneywatch: How to Sell A Vacant Home - 01/06/11 06:07 PM
With the current market, selling a house is hard enough these days, and selling a vacant home is even tougher!
Without furniture or a cozy atmosphere people may have trouble picturing themselves in a vacant home. Decluttering is one thing, but an absolutely empty apartment isn't quite appealing.
So how do you sell a vacant home? Here's three tips to help you close on a vacant home (plus some other great information about insurance changes you should be making if your home is vacant).
Enjoy the video below from Ilyce Glink and CBS Moneywatch:
What are your tips for selling a … (6 comments)
|
cbs moneywatch: Grip of Financial Distress Tightens Again in Third Quarter - 11/17/10 10:55 AM
CredAbility, one of the leading nonprofit credit counseling and education agencies in the United States, today re
leased the CredAbility Consumer Distress Index results for the 2010 third quarter.
The Index, a quarterly measure that tracks the financial condition of the average U.S. household, found that the incremental improvements in consumer financial health in the first half of 2010 have been reversed due to three key, but not surprising, issues:
Weaker household budgets Renewed strains on housing costs Continued high levels of unemployment. For the quarter ended September 30, 2010, American households scored a 64.4 on the Index’s 100-point scale, down … (1 comments)
|
cbs moneywatch: Vincent Chase and Johnny Drama Slept Here: A $6 Million Home for Your Entourage - 11/11/10 11:31 AM
Entourage's Vincent Chase (or real-life’s Adrian Grenier) once remarked, “Look at where we are. Did you ever think we would have this?” The star was commenting about a lavish Hollywood party he had been invited to.
And now, a part of Vince’s fabulous life can be yours if the price is right.
This incredible home, used for filming the seventh season of the hit show, is on the market for the bargain price of $5.75 million.
The 9,000-square foot Encino, California Tuscan villa touts double-height ceilings in most rooms, trussed beams, polished marble and Venetian plaster, and rustic … (2 comments)
|
cbs moneywatch: Hollywood Haunted Houses - 10/28/10 12:50 PM
Hollywood’s stars aren’t always satisfied with the attention they receive in life, so they continue show-boating long after their final curtain call.
These famous ghosts have clearly decided they’re not done entertaining, and now haunt their old homes and hangouts. Some celebs are minor burdens to the new tenants, and others are all out ghoulish.
1. Harry Houdini House
Creep Factor: 1
Harry Houdini made his money doing magic, but his life was also shroud in mystery. The mansion he is rumored to haunt was not really even his. This Laurel Canyon behemoth actually belonged to a friend … (4 comments)
|
cbs moneywatch: Halloween 2010: The 10 Most Haunted Cities in America - 10/22/10 10:28 AM
Yes, friends, it’s time for that spookiest of holidays: Halloween.
If you like haunted houses and getting spooked, you might want to visit these Top 10 Spookiest Cities in America cities.
The eerie thing about these cities’ supernatural secrets? They’re true.
So read on for Rent.com’s Top 10 Haunted Cities . . . if you dare.
10. Portland, Oregon Portland got it’s haunted reputation from its famous Shanghai Tunnels. Built underneath the city to connect shops to the docks of the Pacific Northwest and intended to make shipping easier these tunnels were used to kidnap people in the 1800s. Unsuspecting victims … (5 comments)
|
cbs moneywatch: Is Now the Right Time to Buy a Vacation Home along the Gulf of Mexico? - 08/13/10 10:38 AM
Week after week, the Gulf oil spill drama has dragged on, dragging down the fortunes of millions of residents and small-business owners with it.
The federal government has billed BP $100 million for cleanup costs, and Michelle Obama recently visited the area to show off how many beaches have not (yet) been spoiled by oil and tar balls.Tar balls or not, if you own a primary or vacation home anywhere along the eastern half of the Gulf, you have to be worried about the long-term implications of the Gulf oil spill:
Gulf Coast homeowners say vacation bookings are down sharply … (1 comments)
|
|
|
|
;)
;)
;)
