Monthly Archives: October 2009

For the seventh consecutive month, foreclosure activity in the U.S. was dominated by a tiny subset of states. As reported by RealtyTrac.com, more than half of September’s foreclosure-related activity occurred in just 4 states: California Florida Nevada Michigan These states … Continue reading →

When you own a home with a spouse or partner, the issue of what’s mine, what’s yours, and what’s ours can be a divisive one. Each household has its own money management methodology and, according to financial talk-show host Suze … Continue reading →

Mortgage markets worsened last week as investors responded to a recovering global economy. Despite briefly touching their lowest levels since May, mortgage rates ended the week dramatically higher. It’s the second straight week that rates soared on a Friday. For … Continue reading →

According to the Freddie Mac weekly mortgage rate survey, the relative cost of a 5-year ARM is dropping versus its 30-year fixed-rate cousin. During the first 5 months of 2009, the products ran neck-and-neck. Today, they’re a half-percent apart. On … Continue reading →

An escrow account is a designated savings account into which funds get deposited for a specific purpose. With respect to real estate and home loans, escrow accounts are used to pay real estate tax bills and homeowners insurance payments. Escrow … Continue reading →

Beginning November 17, 2009, the FHA will make it harder to qualify for its popular Streamline Refinance program. Available exclusively to homeowners with existing FHA home loans, the streamline program is meant to help homeowners reduce mortgage payments as simply … Continue reading →

Buoyed by a generous tax credit, affordable homes, and low mortgage rates, the Pending Home Sales Index posted its seventh consecutive monthly gain in August. It’s the longest winning streak in the index’s history and the highest reading in 2-1/2 … Continue reading →

Mortgage markets rallied for most of last week, but ended Friday on a sour note. After touching their lowest levels since Memorial Day, mortgage rates spiked to close out the week. Despite pricing getting worse by 1/4 percent Friday afternoon, … Continue reading →

It’s a sensational headline — “The Sellers’ Deadly Sins” — but the message is clear. Home sellers make mistakes that not only cost themselves thousands, but sometimes cost the sale, too. NBC’s The Today Show lays it out cleanly in … Continue reading →

The government’s First-Time Home Buyer Tax Credit program expires November 30, 2009 — a scant 60 days from today. Considering it can take up to 60 days to close on a home, first-time buyers have 2 weeks at most to … Continue reading →