Fed Cuts Rates Near Zero to Battle Slump - Wall Street Journal
The Federal Reserve cut its target interest rate Tuesday to historic lows between zero and a quarter percentage point and said it could expand a program of unorthodox lending and securities purchases.
"The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability," ...
Loan Modification is another "voluntary" program designed to help homeowners facing foreclosure. A favorite of the media, this program seeks to change the terms of a mortgage, including a reduction in the interest rate (permanently and temporarily), an extension in the term of the loan, a reduction in the principal balance, or some combination of the three.
There are two ways a consumer can approach ...
In late November, an announcement that the Federal Reserve and US Treasury would purchase up to $600 billion in asset-backed securities over the next year or so sent mortgage rates on many programs plunging below 6%. This is a bold step by our federal regulators towards a more stable economy. Not only will this increase the availability of credit, but it should help support the housing and financial ...
A Housing-driven Recovery
Housing led the economic downturn, but it can also lead its turnaround if effective home buying incentives are in place. By Lawrence Yun | December 2008
It's a good bet the economic picture will remain highly uncertain as we head into 2009. Yet there's good reason to believe the housing market has turned the corner. Housing in some of the country's hottest markets during ...
New Mexico Business Weekly
New Mexico's mortgages retain equity
New Mexico is ranked in the nation's top 10 for home mortgage equity, according to a survey that uses negative equity as its key metric.
Just 8.2 percent of New Mexico's 186,844 mortgages were showing negative equity at the end of September.
The survey, conducted by First American CoreLogic, shows New Mexico had the eighth lowest negative ...
Posted by
Melanie Turner
@ 9:22 AM
on 11/25/2008
With the economy slowing and holidays just around the corner, many consumers may be looking to credit cards to help them get through the heavy shopping season. While that may be a good short-term solution, you want to make sure you don't overlook the long-term impact on your credit rating. After all, the actions you take today could hang over your head for years to come--and may make it tough for you ...
Market Value Sets Property Tax
It's that time of year-property tax time. Homeowners have had 2008 property tax bills since early November. Payment was due November 10 and is delinquent after December 10. In the four counties of metro Albuquerque, the county assessor figures out the amount of your tax. Then the county treasurer sends a notice of value in the spring and the tax bill in November.Most ...
What About Buying Next Year?
By Amy Hoak
Even if you do not plan on buying right now but are intending to buy a home when things settle down, the first step is to start checking your credit reports now. There may be some surprises waiting.
Credit card companies are reducing credit limits on some borrowers. And for some people, that may cause a drag on their credit score.
Here's why: A major factor ...
Well first you might ask what is a queue and secondly what does it have to do with my home selling or the real estate market?
The first part of your question is easy, the second a little more complex. Firstly while one definition of a queue according to Merriam-Webster's online dictionary is from a french word meaning "tail" relating to a braid of hair ussually worn on the back of the head. For ...
The stories are plentiful: A California home listed at $7 million finally sells for $3.5. A Florida developer auctions off his completed but vacant condominiums at cost. Family homes sit on the market for months, bearing unrealistic bubble-era price tags.
But according to research done by Avi Shama, a professor at the Anderson School of Management at the University of New Mexico, in the Albuquerque ...
