ARCHIVED BLOG POSTS
2007
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Homeowners began to lose hold of their homes long before spiking foreclosures and the housing slump slammed the economy. Piece by piece, some gave away their homes by tapping equity to take cash out to pay for cars, weddings and vacations. Others never owned one brick. During the country's most...
12/26/2007
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As you invest your money, shop for a home or tackle any one of the many financial decisions you have to make over your lifetime, do you sometimes wish you'd paid more attention in math class? Do you find yourself having to "run the numbers" and wondering what's best? The solution isn't always bl...
12/26/2007
The subprime mortgage crisis has extended itself throughout the economy. According to Congress' Joint Economic Committee, some 3.7 million homes will probably foreclose as a result of the crisis. As of August, 1.7 million of those homes had already foreclosed, and another 2 million are expected...
12/19/2007
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When the fed lowers interest rates and gets everyone all excited, what do these lower interest rates really mean to you and me? Homeowners: You could save hundreds of dollars a month if your loan is pegged to Treasury rates, which have fallen considerably thanks to the Fed's recent cuts. But man...
12/19/2007
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If you haven't yet felt the impact of the nation's credit crisis, just wait. So far, the turmoil may feel a bit remote for average people: Failed mortgage lenders. Gargantuan write-downs by banks. Foreclosures for people who couldn't really afford the mortgages they got. What about the rest of u...
12/14/2007
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If you haven't been keeping up with the news of late, you may not be aware of the new "Rate Freeze" idea that is being kicked around by the Hope Now Alliance, coalition of lenders, servicers, investors and community groups, put together by the Treasury Department. Details of the plan have not be...
12/14/2007
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With plenty of homes on the market, prices falling and mortgage rates down, it appears to be a great time for house hunters. But even in a buyer's market, buyers can, and often do, make expensive mistakes. You need to do your homework. Know your market! While there are bargains to be had, it's...
12/10/2007
If you suffer from real estate blues brought on by plummeting prices, it may come as little comfort to know that this trend was supposed to have ended by now. When the market began its downturn in early 2006, some of the smartest economists in the country, as well as the CEOs of major home-builde...
12/10/2007
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Property values are falling in many markets, balancing out some inflated markets and making home values a little more realistic. This has some sellers worried. While they might not make as much money on a sale now as they would have a year or two ago, it doesn't mean the market is bottoming out...
12/07/2007
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The percentage of U.S. homes that are vacant and for sale remained at elevated levels during the third quarter, and the percentage of people who own their homes continued to decline, according to a Census Department report. These are the starkest signs yet of the severity of the damage in the ho...
12/07/2007
