1]RISMEDIA, August 26, 2010—(MCT)—Kitchens have long been among the most popular remodeling projects. But with fewer clients requesting kitchen upgrades during this recession, one kitchen designer has turned the economic slowdown to her advantage.
“If I couldn’t remodel as many client kitchens as usual, I decided to remodel my own showroom. That way, I’d be ready to show ...
The country's most popular federal mortgage-insurance program is set to raise fees to borrowers in a bid to avoid burning through its dwindling reserves as home prices come under renewed pressure.Opinion: Homeownership Isn't for EveryoneAccess thousands of business sources not available on the free web. Learn MoreThe move reflects new threats facing the Federal Housing Administration, a New Deal-era ...
The government is wrestling with what to do about Fannie Mae and Freddie Mac, which have needed a combined $148 billion since the government bailed them out two years ago.There are many ways to restructure the system. Here are four that have the most support:1. Fully private system. Eliminate Fannie and Freddie and let private lenders take over. The problem is that the market for mortgage securities ...
Harvey Collier, a mortgage broker in Fort Lauderdale, Florida, says he gets as many as 10 calls a month from people planning to default on their loans. The twist: They first want financing to buy another home.Real estate professionals call it “buy and bail,” acquiring a new house before the buyer’s credit rating is ruined by walking away from the old one because it’s “underwater,” ...
Housing prices are about to turn around, predicts financial services technology firm Fiserv.David Stiff, chief economist at Fiserv, says home prices will fall 32.9 percent from 2006 through early next year. But by early 2014, he believes they will climb an average of 7.2 percent from 2010 levels, with some areas skyrocketing.Fiserv believes these 10 metropolitan areas will see the most growth in the ...
Mortgage fraud is pervasive: An estimated $4 billion to $6 billion in annual losses result from mortgage fraud, according to FBI reports. “An entire community can be damaged by mortgage fraud,” says Rachel Dollar, a lawyer from Santa Rosa, Calif., and editor of the Mortgage Fraud Blog. Mortgage fraud can lead to a spike in foreclosures, home values plummeting, and lenders raising their ...
10 Most Recession-Proof U.S. Cities The most recession-proof cities didn’t see home prices surge in the first place, says the MetroMonitor, a quarterly report released by Brookings Institute's Metropolitan Policy Program. MetroMonitor identified 21 large metro areas that have enjoyed robust economies and stable labor and housing markets in the last few years. "Most of these cities have ...
Some 52 percent of single home buyers in April chose suburban locations over urban and rural areas, according to a survey by Coldwell Banker of 1,000 single buyers.· More than 53 percent of single home owners reported that they purchased a home because it was more cost effective than renting in their area, while 68 percent of single home owners purchased a home that was less expensive than they ...
First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees
The Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:
Extends deadlines for purchasing and closing on a home.
Authorizes the credit ...
Home prices aren’t tanking everywhere. In some cities they have bounced pretty high off the bottom, according to a report in Forbes magazine.Altos Research examined data for every U.S. city with at least 100 homes on the market – about 8,000 cities. It identified these 10 cities as having the biggest price increases from the previous year.1. Lexington, Mass., +36 percent2. Bay Village, ...
