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Recent News - mortgage crisis

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Jun

09

The housing market is strong right now for sellers. With the job market increasing, more people are looking to buy homes in all areas of the country. Unfortunately, for buyers that means that the prices are going up and the inventory is getting snatched up quickly. This story from CNN Money has some real life stories of families trying to get into the housing market. Most of these families are dealing with bidding wars and possibly settling for a home that might not be exactly what they are... Continue Reading


Written by phillips | maintenance

Sep

12

In our area, the foreclosure rate for homes is going down, but there are still some out there and if you happen to be a tenant living in a home that is being foreclosed on you still have rights.  Federal officials have extended the Protecting Tenants at Foreclosure Act of 2009 through Dec. 31. It provides that an unexpired residential lease will survive foreclosure for whatever amount of time remains on the lease, assuming the lease is bona fide. This requires that the tenant not also be the... Continue Reading


Written by phillips | mortgage crisis

May

22

According the an article from Seattle Times, homeowners in America are still underwater in the home mortgages. Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts -- an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession. Unfortunately, because the homes are not worth as much when originally purchased, less people are selling there homes, which means that home buyers have less to choose from... Continue Reading


Written by phillips | mortgage crisis

Jan

07

If you are in the market for a new mortgage this year, be sure to read this article first. Interest rates may be on the rise for a number of reasons, • The Federal Reserve intends to continue reducing its monthly purchases of mortgage bonds and Treasury securities, which will have the side effect of raising rates. • The economy finally appears to be picking up steam, based on the latest quarterly data. Higher growth rates in turn will increase demand for available credit and likely nudge... Continue Reading


Written by phillips | mortgage crisis

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