Category: Financing

Deep fried turkey fires will cause more than $15 million in property damage to homes and other dwellings from deep fryers that get wildly out of control across the U.S. this Thanksgiving, according to the National Fire Protection Association. The fires, ignited by deep fried turkey cookers of hot oil that quickly get out of… Continue reading Don’t Burn Down Your House on Thanksgiving

Home prices are doomed, according to nearly 2 out of 3 people surveyed for the latest Housing Predictor poll. Some 60% said that housing prices won’t ever reach as high as they did during the boom or not at least “in my lifetime.” The survey is disappointing news for homeowners who are anxious to see… Continue reading Poll: Prices Won’t Go As High Again

By Mike Colpitts Housing affordability is at its best level for the seventh straight quarter in decades, according to the National Association of Home Builders-Wells Fargo index. The lowest mortgage rates since 1951 triggered an increase in home sales. The index showed that 71.1% of all homes sold in the third quarter of the year… Continue reading Housing Affordability Best in Years

In Las Vegas, where foreclosures are running at some of the highest levels in the U.S. many real estate agents are calling themselves short sale experts in an effort to gain business in a bitter battle to survive, but many have little or no experience at selling homes for less than what is owed on… Continue reading Las Vegas Realtors Warn of Short Sale Fraudsters

By Kevin Chiu Mortgage rates jumped for the first time in eight weeks with the rate on a 30-year fixed rate mortgage rising by a large margin. A 30-year mortgage went for 4.17% on average a week ago and surged to 4.39% this week, according to Freddie Mac. The rate on a 15-year fixed rate… Continue reading Mortgage Rates Jump Much Higher

The robo-signing foreclosure scandal has exposed illegal bank practices by servicing companies on mortgages, and also shows the urgent need to reform a banking system that is broken and plagued with abuses, unnecessarily pushing homeowners into foreclosure, a top consumer’s advocate told a Congressional panel. “The lack of restraint on servicer abuses has created a… Continue reading Robo-Signing Shows Illegal Bank Practices

By Kevin Chiu Mortgage applications fell by a huge volume for the week as rates on home mortgages climbed demonstrating that foreclosure moratoriums put in place by major lenders are having an impact on the housing market, according to the Mortgage Bankers Association. Applications dropped 14.4% on an adjusted basis from a week earlier. Refinancing… Continue reading Mortgage Rates Rise as Applications Fall

By Kevin Chiu The National Commission on Fiscal Responsibility and Reform has stirred the proverbial hornets nest with its proposal to limit the homeowners’ federal mortgage interest deduction. But in real terms limiting or elimination of mortgage interest from federal taxes has little chance of happening. It’s a no-brainer. The commission, created by President Barack… Continue reading Threat of Mortgage Interest Deduction Loss

A financial company started by a former Wall Street banker has found itself on Time magazine’s list for being one of the best 50 inventions in 2010. Loan Value Group announced that its Responsible Homeowner Rewards program has been named fifth on the list of companies, and the only financial firm on the magazine’s annual… Continue reading Financial Company Makes Time Magazine List