Foreclosure Articles

Loan vs. Credit - 07/09/2008
Life, as they say, is filled with difficult choices. Paper or plastic? Blonde or brunette? Chocolate or vanilla? Home-equity loan or home-equity line of credit? Whether you’re looking for extra cash to remodel your house or need extra help purchasing a newer one, a home-equity line of credit (HELOC) or home-equity loan (HEL) can do...Read More

Stay Safe: When Sellers Stay Past Closing - 06/23/2021
Homes are selling in record time. Sellers, though, aren’t moving so quickly. Accepting an offer within days after listing leaves sellers with the challenge of finding their new place before the scheduled closing on their sale – a time span typically between 30 and 60 days. At closing, the buyer becomes the official owner...Read More

Project Nation - 05/23/2012
Willingness to undertake a home remodeling project might depend heavily upon where you live – because where you live plays a major role in how much that remodel might cost. The average amount spent on a remodeling project per household nationwide is $1,907, according to the National Association of Home Builders. Though, some areas blow...Read More

The ‘New’ Search - 06/20/2018
If misery loves company, frustrated buyers that can’t find an affordable home can take comfort in this: Those with their hearts set on new construction face an even bigger challenge. While “the market needs 1.2 million [new homes] to keep up with household growth,” new single-family homes, which includes town homes and...Read More

Pay less upfront for a security deposit - 08/17/2022
With the average rate nationwide for a one -bedroom apartment jumping to $1,129 early this year, renters everywhere are finding themselves financially stretched. Not only must their earnings and credit record meet a landlord’s standards, but they also need a month or more of rent upfront for a security deposit. The security is...Read More

Home is where the office is - 11/06/2019
When “telecommuting” became a standard label for working at home a few decades ago, saving on commuting time and working in pajamas were the touted benefits. Now, with Census data showing about 5.2 percent of the population are “remote workers” who aren’t required to visit an office, they are increasingly...Read More

Style Before Sale Price - 06/20/2012
Before real estate prices plummeted in many markets, homeowners typically remodeled to increase house value. Improving aesthetics and livability was important, but not the top priority. Now, two reports – the National Association of Home Builders’ “Remodeling Market Index” and home design website Houzz.com’s...Read More

Frugal Fixes for Your Yard - 05/13/2009
Almost everyone knows that great curb appeal is a major come-on in selling a house, but some of the projects that inspire the biggest oohs and aahs in a yard - an all-sod lawn, mature trees, water features and fancy outdoor kitchens - can add up quickly. Yet, there's so much that can be done to make a landscape appealing both to...Read More

Millennials and the Market - 11/19/2014
Where have all the first-time buyers gone? Despite enticing conditions – improving job market, low interest rates – the share of first-time buyers dropped to 33 percent, according to the 2014 National Association of Realtors Profile of Buyers and Sellers, the lowest share since 1987 (30 percent). “It’s not that...Read More

Grabbling an equity lifeline before it floats away - 09/09/2020
Many owners are sitting on a fat cushion of home equity, defined as the difference between their home’s current value and the amount of mortgage principal they still owe. That cushion – a record amount since the last recession in 2009 – can be a comfort in times like these, since owners can write checks against it...Read More

Old Homes for Young Buyers - 04/06/2022
Millennials born between 1981 and 1996 may crave modern, multi-functional rooms. But, according to a recent report from the government-sponsored mortgage firm, Freddie Mac, they’re likely to buy homes reminiscent of ones that were built near or before they were born. Younger Millennials purchase homes that average 41 years old,...Read More

Buyers Energized By Utility Costs - 11/01/2017
“We’ve found the perfect home! It has above-code attic insulation!” You don’t hear that phrase, or anything like it, because we focus on more eye-catching features, like new kitchen cabinets. But research shows that buyers pay more for energy efficient homes. One study this year by the University of Texas (UT),...Read More

Give This Office Some Charm! - 03/31/2010
When I first visited my client's home the office was full of papers, file cabinets, overflowing bookcases and a saggy loveseat – all of which had seen better days. The house had been a bit neglected, as she had been busy raising her active children, so not only was there some basic maintenance to catch up on, but she wanted to move...Read More

Number of Green Homes Continues to Grow - 10/26/2011
The number of newly built homes may have ebbed during recent years, but green homes certainly are gaining ground. A full 25 percent of new single-family homes built in the U.S. in 2010 earned Energy Star qualification, according to the Environmental Protection Agency, an increase from 21 percent of homes in 2009. Overall, about 1.2...Read More

Emotion playing a larger role in selling a home - 06/17/2015
A real estate transaction is emotional – and not just when you’re buying a home. Despite occurrences of multiple bids, including those over asking price, today’s sellers are twice as likely to accept a purchase offer based on emotion – rather than just price – compared to pre-recession years, according to a...Read More

Buy Now or Wait for the Perfect Home? - 06/27/2018
Young adults are buying homes again, or at least thinking about it. A recent Harris-Trulia poll finds that 86 percent of Millennials plan on buying, but most not right away –aiming for some time over the next two years. Even with waiting to keep building savings, they expect to sacrifice on the type of home or neighborhood they...Read More

Listing Language Should Excite Target Buyers - 03/15/2023
Proud homeowners. It may not be polite to brag when guests visit, but when it’s time sell, boasting and name-dropping might pay off. The website, Point2Homes.com, recently examined 52 million words found in the listing descriptions of 730,000 properties listed for sale or rent on its site. Over the past few years, Point2 has conducted...Read More

House Swap - 12/10/2008
Downsizing from your family home when you've hit your 50s, 60s or even 70s doesn't mean you have to relocate to an apartment, townhouse or condominium. You can make a switch to a smaller house that offers you fewer rooms - the ones you really want and in the size and condition you need, as well as all the key amenities. Switching homes also...Read More

Contingencies can spell trouble for a home seller in a hot market - 01/01/2020
Sellers love to hear a buyer is preparing an offer for them. That happiness can disappear if they spot “contingencies” in the purchase contract. The National Association of Realtors {NAR} reports 74 percent of purchase contracts contained contingencies in summer of 2019. Contingencies in a contract stipulate something must...Read More

Breaking the Bank - 02/27/2013
Rent payments, utility bills, groceries and transportation – the numerous costs of living can make it difficult to stay on track financially. A recent survey by website Rent.com of 1,000 U.S. renters found that although 74 percent of renters keep a monthly budget, 61 percent still spend more money than they make each month. According...Read More

Remodeling? You May Have to Ask ‘Please’ - 10/10/2018
When you own a home, it’s your house, and you can do what you want, whether it’s remodeling a kitchen or putting on a deck, right? Not always. Homeowners do not have to contend with a landlord but they may have to get the nod from local officials before proceeding on certain projects. And, according to a recent survey of 150...Read More

Control Your Credit - 05/05/2010
With tighter lending restrictions, it’s a must for buyers to ensure their credit is in good shape before seeking a loan. Yet credit reports can contain countless errors, says William Bailey, a personal finance expert and associate professor at the University of Arkansas’ School of Human Environmental Sciences. Regular check-ups...Read More

Falling Foreclosures - 11/20/2013
Here’s a bit of encouraging news for the real estate market: Foreclosure rates are further shrinking, according to the latest report from CoreLogic, a real estate data source. In fact, foreclosure inventory (homes in some current stage of foreclosure) and completed foreclosures are down, respectively, 33 and 39 percent nationally from...Read More

Up in the Air - 01/19/2011
Economists say 2011 is the year of the “jump ball economy” – “so many consumer decisions are up in the air,” says James Chung, president of Research Advisors. According to statistics from the U.S. Census Bureau, household incomes were on the decline during the past decade, even before the Great Recession...Read More

Buying Within Your Budget - 10/08/2009
Biting off more than you can chew can leave quite a lump in your throat. The same goes for buying off more than you can afford, a mistake many people make when purchasing a home that exceeds their income level and resources. Determining home affordability is a vital step, experts say, that should be undertaken early in the shopping...Read More

As Easy as M-L-S - 10/14/2009
When it comes to finding the ideal abode, real estate experts suggest that homebuyers remember three simple letters: MLS. The rest, they say, is elementary. Short for the multiple listing service, the MLS is an intricate, shared computer network created by real-estate professionals to help consumers purchase and sell homes. The MLS database...Read More

Refinancing? Watch for Hidden Fees - 01/18/2017
When homeowners refinance their homes, their lender provides them with a HUD-1 Settlement Statement. By law, this standardized form itemizes the services provided by the lender and any associated fees. Many lenders point to this form as proof that the rates they offer contain “no hidden fees.” But there is one fee that’s not...Read More

Making a new place your hometown - 11/23/2022
More Americans have been making big moves: Out of an urban center to an outlying suburb, or to new towns and cities that promise more affordable, easier living. Except that, initially, the quest for a more enjoyable living may not feel very comfortable, caution people who’ve felt the loneliness a new locale can engender. Make-up...Read More

Choosing the Right Cabinet - 10/13/2010
Most homeowners select a cabinet based on style, material, finish, sometimes a name and definitely the price - cabinets can represent 50 to 60 percent of the cost of a kitchen remodel. But by understanding how the boxes are constructed, savvy homeowners can be sure they will hold up to frequent openings and closings and heavy contents...Read More

Open Houses Can Widen Buyer Pool - 05/31/2023
Open houses are an old real estate tradition, but one that keeps morphing to fit current conditions. Recently, open houses went from nearly extinct during the early days of the pandemic to a chance for all interested buyers to submit their “best and final” offer at the first open house during the buyer bidding war frenzy of...Read More

Lease of Mind - 11/19/2008
If you're not ready to buy a house or take on the responsibilities of home ownership just yet, renting a residence can be a smart choice - provided you do your due diligence and research lease opportunities carefully. Indeed, smart tenants know that terrific rental units rarely fall in your lap. To prevent renter's remorse, you have to dig a...Read More

Rx For Angst-Ridden Long-Term Renters - 04/19/2023
As the share of 40-something Americans who haven’t been able to buy a home increases, so do their feelings of frustration and failure. But objectively, they are probably being too hard on themselves, says Seattle-based financial therapist Kate Dorman. (A financial therapist is a professional who “looks at how our feelings,...Read More

Thrift Shopping: - 06/19/2019
Saving for a down payment is so difficult that it’s consistently rated as the biggest obstacle facing aspiring homebuyers. Now, help is widely available through mobile apps. Indeed, just input “apps to help you save money” or “apps to help save for a down payment” in a search engine to call up...Read More

Happy New Home – Prepare to Reno - 04/06/2016
At the top of the wish list for most homebuyers: a home that’s move-in ready, no renovation required. Sellers and their agents work hard to deliver the dream. Houses prepared for sale these days are often dutifully de-cluttered (thank you, Marie Kondo), freshly painted and whistle-clean. Often, a home is at least partially staged with...Read More

Slow Down! You’re Reading Too Fast - 07/24/2013
Who hasn’t rushed through documents dense with legalese, like the consent forms required by many websites? Sometimes it may be no big deal to skim and click “I Accept.” But if there’s one lesson from the mortgage mess that’s affected millions of homeowners, it’s that you’d better understand the...Read More

What to Know About Eviction Recourse - 12/10/2014
For many dwellers, the worst day of the month is the first – the day when rent payments are due. And that’s becoming increasingly problematic for many tenants. Rents in the five least affordable markets have seen a 7.8-percent increase over the past year, according to new data from real estate site Trulia. Further, the typical...Read More

Gambling to win a lower rate - 07/27/2022
Back in early July of this year, mortgage rates were roughly double where they sat at the same point in 2021. But the path to today’s loftier level hasn’t been a straight ascent up. “Rates move when the financial markets move, “explains Jeffrey Loyd, of Mortgage Acuity in Hackensack, NJ. For instance, when...Read More

Selling Owners on Selling - 04/17/2019
Nationwide, the number of sale listings is growing. Still, in many areas, as soon as a “For Sale” sign pops up, multiple buyers vie for the property. Since scarce inventory has been a consistent problem for many months in some markets, agents say they’ve learned the only way some buyers can purchase is if they must persuade...Read More

Buying & Selling Dollar Deals - 03/19/2014
They say there’s no romance without finance. For many, there’s also no residence without financing. But more homebuyers than you’d think actually prefer pure cash transactions in which the balance is paid in full without mortgage loan borrowing. In fact, based on new data recently released by RealtyTrac, deals...Read More

The Sewerless Solution - 10/15/2008
For millions of American homeowners, flushing a toilet is an act that's taken for granted. You simply push down on the little silver handle and walk away without giving it a second thought. But not every owner has it so easy. Some properties are situated in rural and underdeveloped areas that aren't served by a public sewage treatment...Read More

Tech and the House Hunt - 01/14/2015
It’s little surprise that home hunters are increasingly turning to their tablets, smartphones and desktops to help them find the ideal property for sale. But the extent to which they rely on these tech tools – and the benefits they perceive from using them – may be greater than expected, judging from the results of a recent...Read More

The New Suburban Dream - 10/24/2012
You’re thirty-something with one child and another on the way. It’s time to move to the ‘burbs. But your search may not lead to the four-bedroom home that defined your father’s suburb or even the voluminous, cathedral-ceilinged 3,000 square footer that your older brother endures a two-hour commute to own. Young...Read More

Be your own expert on whether an ARM will squeeze - 06/22/2022
More – but still a minority – of mortgage seekers are willing to gamble. The better they assess their personal risk, the less likely that they’ll regret rolling the dice. In May, some 10% of borrowers opted to trade a lower initial interest rate on an adjustable-rate mortgage (ARM) rather than take a higher rate that...Read More

Face the Fixer Upper - 03/28/2018
The dream of homeownership can overshadow the less appealing realties: Walls that beg for fresh paint, a lawn needing mowing, the faucet that drips. “Everything in the house will either wear out, or need some TLC,” says Frank Lesh, executive director of the American Society of Home Inspectors. Experts say buyers often neglect...Read More

7 Smart Things to Do When Packing for a Move - 12/28/2016
You signed the official papers – you’ve got a new home! But your excitement is tempered by the fact that before you can move in, you’ve got to pack up your current place. To make the job easier and reduce the risk of losing or breaking anything, we’ve compiled seven tips that will help move you efficiently to your new...Read More

Coming to America - 02/28/2018
The company touts Olympic swimming legend Michael Phelps as its official world ambassador, boasts dozens of projects from Egypt to Argentina and cites reports that its brilliantly blue pools are becoming the globe’s top real estate amenity. Crystal Lagoons, formed in 2007 by Chilean real estate developer and biochemist Fernando...Read More

What We Want - 06/10/2009
Kitchens and bathrooms may still be among the most popular rooms that homeowners want to improve since they gravitate to the first as a hub to spend time with family and friends and cook and to the second as a place to unwind. But how nice and luxurious homeowners now want each space to be is being influenced by the economy. According to...Read More

Homeownership Seen as a Little Less Thrilling Come Tax Day - 05/25/2016
Pay rent and “you’re throwing money away.” Like many adages, this one contains a kernel of truth. But that kernel has shrunk a bit, considering that, for many home owners, the tax advantage of buying has vanished. Homeownership traditionally delivered income tax savings because a homeowner’s mortgage interest...Read More

Extra Credit: Paying More Than Due Helps Mortgage Approval - 07/06/2016
Knocking off more credit card debt every month may now be a better deal for anyone looking to buy a home. Fannie Mae, the government-sponsored enterprise that buys mortgages and sets rules on how to assess the risk of loan applicants, is rolling out revised underwriting software that rewards those who make more than the minimum required...Read More

Save By Taking An ARM? - 03/13/2019
The rich are different … at least when it comes to getting a mortgage. When data firm CoreLogic examined 230 “super-jumbo” mortgages – between $10 million and $20 million – originated since 2013, they found that most were adjustable rate mortgages, or ARMs. By contrast, just a small portion of conventional...Read More