Agents along the U.S. Gulf Coast are reporting a dramatic surge in buyers backing out of deals of what used to be prime beachfront real estate.
Category: Politics & Econ
Fannie Mae Reduces Post Short Sale Waiting Period
Fannie Mae is loosening its grip on its previous rules and allowing buyers to apply again in as little as two years.
Housing Price Declines
Has the effort to improve loan modification programs decreased the chances of housing price decline? Experts have stated that not only does loan modification efforts slow price decreases it might also take a longer time for the housing market to reach bottom limits. At the end of 2009 we saw a 5% decline instead of […]
Tax Increase
The more money you make, the more the government takes from you. Families earning more than $250,000 are considered well off and are in the 35% tax bracket. Soon the bracket is expected to increase to 39%. Somebody has to pay for all the debt our country is in; apparently government has decided that somebody […]
Rates for the Week of April 15, 2010
Rates had decreased this week compare to last week. Last week a 30-year fixed loan was 5.21%, this week it has dropped to 5.07%. Rates for a 15-year fixed loan last week were 4.52% last week, this week it is 4.40%. Economists state that low inflation keeps the interest rates from increasing.
Washington Mutual: Largest Bank Failure in U.S. History
After an investigation the Senate panel found that Washington Mutual could have prevented the downfall of their company. Executives at the firm had knowingly approved borrowers for loans they knew eventually the borrower was not going to be able to afford. Further investigation found that loans were even given to individuals who had provided false […]
Housing Market Bounces Back
Home prices in Southern California increased 14% last month compared to a year earlier.
President has a new neighbor
There was a new listing on the market by 36 year owners Bill and Jacky Grimsaw, the Presidents former neighbors.
Bailout Funds Paid Back
Banks, insurance and auto industry giants all definitely have one thing in common, they all received generous bailout funds to make sure their companies did not go bankrupt. Surprisingly, most of the companies are paying back the funds sooner than expected. The economy is on the right track and hopefully this means we are getting […]
How many individuals predicted the Housing Blowup?
There were many investors and individuals who right away knew the housing blowup was coming, how did so many people miss it?