By Mike Colpitts An overwhelming majority favor homeownership over renting despite the housing downturn, according to a new study. The results were found as part of a Fannie Mae survey that asked a variety of questions revolving homeownership and the economy. An astonishing 85% of respondants said they favor homeownership over renting based on the… Continue reading Overwhelming Majority Favor Homeownership
Category: Advice
Only 40% Will Pay Off Mortgages
Only 40% of respondents in a new survey say they intend to pay off their home mortgages, and slightly more than a third (34%) said they do not plan on paying off their home loans at all. More than 1,000 online visitors took part in the poll, which was completed Tuesday after being asked of… Continue reading Only 40% Will Pay Off Mortgages
Underwater Homeowners Gain Home Equity
By Mike Colpitts Underwater homeowners, already upside down in the current economy more than ever before are seeing their fortunes turn around, with new data showing a gain in home equity. The upturn in homeowner equity comes as a result of growing home price inflation in some cities and slower equity losses in others. Some… Continue reading Underwater Homeowners Gain Home Equity
Homeowners Living Free Longer
By Mike Colpitts Homeowners facing foreclosure in default on mortgage payments are living longer in their homes without making loan payments than ever before, according to foreclosure firm RealtyTrac. The lengthy foreclosure process is good news for homeowners in desperate straits able to live in their homes for free, many of whom are unemployed or… Continue reading Homeowners Living Free Longer
5 Best Beach Vacation Home Bargain Cities
The surf meets the sand in the heat of summer. Whether this is the year to buy that beach vacation home or not is another thing. If you’reconsidering the plunge, these are the best 5 beach home bargain cities to buy a foreclosure home or condo. Foreclosure News Report ranked U.S. metro areas across the… Continue reading 5 Best Beach Vacation Home Bargain Cities
Former Homeowners Not Applying for Aid
By Mike Colpitts More than 4-million former homeowners whose homes may have been foreclosed illegally by the nation’s largest banks have received letters from the U.S. government asking them if they would like their foreclosures to be reviewed. But so disillusioned by the banking industry and their own situations, the over-whelming majority have failed to… Continue reading Former Homeowners Not Applying for Aid
Bottom of Your Housing Market Hits
By Mike Colpitts Despite the troubled U.S. economy, some cities housing markets are hitting the bottom after nearly six years in the doldrums. Cities from the Corn Belt in Nebraska to Miami are experiencing upturns in home and condominium sales and higher prices. But not everywhere will experience the bottom of the market at the… Continue reading Bottom of Your Housing Market Hits
New Program Targets Underwater Homeowners
By Mike Colpitts A new program designed to identify underwater homeowners who may qualify to refinance mortgages has been put into operation by one of the nation’s largest real estate technology firms. The program targets homeowners who are more likely to walk away from their underwater mortgages. CoreLogic, which evaluates hundreds of segments of the… Continue reading New Program Targets Underwater Homeowners
Skin in The Game Real Estate Crossroads
By Anwar Elgonemy Skin in the Game is a new book about the bloody real estate cross roads where real estate and high-finance meet. The book is not a traditional textbook about real estate finance, nor is it one of the numerous post-mortem publications that have covered the intricacies of the subprime mortgage crisis. As… Continue reading Skin in The Game Real Estate Crossroads
Cashing In on Abandoned Property
By Kiesha Joseph Abandoned property is a term to describe real estate that isn’t currently under the direct control or care of the legal owner. This may be because the mortgage is in default, delinquent taxes are owed or the property is unsafe. The homeowner may have also walked away from the property, abandoning it… Continue reading Cashing In on Abandoned Property