Bush subprime plan helps 1.2M
February 15th, 2008The Bush administration foreclosure relief plan could help 1.2 million distressed homeowners. (Go To Article: cnn.com)
Subprime borrowers are still going to pay more
February 15th, 2008Subprime borrowers may get lower rates but they were paying more before and will still pay more than prime borrowers. (Go To Article: cnn.com)
Foreclosures cause taxes to drop
February 15th, 2008Foreclosures cause taxes drop in several ways.
- When home values decline property goes down.
- When leaders abandon properties property taxes stop.
- When sales drop state transfer fees and deed and mortgage registration taxes drop.
Foreclosures hurt other homeowners
February 15th, 2008Foreclosures hurt other homeowners by causing home values to fall and an increase in crime. (Go To Article: cnn.com)
Booming real estate markets
January 24th, 2008- Wenatchee, Washington - Retirees buying up houses., 23.5%
- Salt Lake City - Booming tech industry., 16.0%
- Grand Junction, Colorado - Booming energy industry., 14.3%
- Seattle - Technology revival., 9.9%
- Wilmington, N.C. - Fast growing population., 9.1%
The Stutzmans foreclosure rescue
January 21st, 2008The Stutzman bought a home for $119,000 in April, 2006. They had a $97,000 adjustable rate mortgage (ARM) at 8.75% and a second mortgage for $24,290 at 12.875% with payments about $1,250. Due to health problems requiring an unpaid leave they fell behind on their payments. Countrywide converted the ARM to a fixed rate mortgage at 8.75% and the second mortgage was forgiven which reduced their monthly payments to $785 which they could afford. (Go To Article: cnn.com)
Foreclosure lead to crime increase
January 3rd, 2008Foreclosures in Cleveland’s Slavic Village were followed by an increase in crime. (Go To Article: cnn.com)
Home prices still falling
January 1st, 2008The median single-family house price in the United States decreased 2% to $220,800 but Condo prices increased 2% to $226,900 for the three months ended September 30, according to the National Association of Realtors (NAR). (Go To Article: cnn.com)
Eichler homes known for open feel
January 1st, 2008Eichlers homes, built by Joseph Eichler from 1940 to 1970 are popular today for their floor-to-ceiling windows and open floor plans for kitchen and family rooms. (Go To Article: mercurynews.com)
Most home prices still up
December 4th, 2007Prices are down in 2007 but doubled between 2001 and 2006 in many markets so most homeowners are still up. (Go To Article: mercurynews.com)
