Tag Archives: home equity loans

Mom and Dad, My Home Is Underwater

Parents have heard a lot of things, such as, “I can’t make the rent this month.” Or, “I crashed the car.” Now they’re hearing from their kids that their homes are underwater. Here’s a good column: A good way to … Continue reading

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The Mortgage Interest Tax Deduction

Take advantage of it while you can! It is likely to get guttered in some kind of grand compromise to reduce the deficit. Are you making significant improvement to your home? There are dollar limitations to cash-out refinancing. It pays … Continue reading

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The Coming Revolution In Home Financing

The recent commission on reducing the deficit recommended doing away with the mortgage interest deduction. This would make housing more expensive on a relative basis to other expenses (though overall home prices should diminish because of such a move). Lenders … Continue reading

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Defaulting On That Second Home

Rich folks more than $100,000 underwater on a second home are increasingly choosing to default. This type of strategic default now accounts for more than a third of all defaults. What are the consequences? Well, they vary from state to … Continue reading

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Another Sign Credit Crisis Is Easing

Since the subprime mortgage collapse of two years ago, banks have put in place measures to toughen up their lending practices. You now have to demonstrate income to get a loan. You have to fill out more paperwork. There aren’t … Continue reading

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Small Businesses Feel Credit Squeeze

The Federal Reserve predicts that lending will remain tight for at least another year. Frankly, there is no relief in sight. The debt-securitization markets are barely moving. There’s fundamentally a lack of trust in the economy and the banks. Small … Continue reading

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‘Chain of Blame: How Wall Street Caused the Mortgage and Credit Crisis’

This is an excellent new book on the mortgage and credit meltdown. The authors get inside the lives of the leading characters in the mortgage meltdown and explain what makes them tick and what makes their business work (or fail). … Continue reading

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The Rush To Refinance

Mortgage rates are at their lowest in decades. Those with good credit and high home values are rushing to refinance and lock in these low rates. Over the past two months, home loan fixed rates have declined 1.5%. The Federal … Continue reading

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Using FHA & VA Financing To Buy Foreclosures

Here are some tips from the book Foreclosure Myths: You can use government-backed financing to buy a foreclosed home if you play by the rules: * FHA and VA financing requires you to live in the home * The process … Continue reading

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Growing Bank Write-Offs

Oct. 6 (Bloomberg) — The U.S. Treasury’s $700 billion plan to rescue the nation’s banks from the subprime mortgage debacle may help bonds rebound from losses of at least 90 percent while contributing to writedowns at financial institutions. The Troubled … Continue reading

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