Foreclosure Articles

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

Opening Up a Tight Floor Plan - 07/08/2009
The Realtor called me several weeks before my clients were to move out of state. Their home was small but charming. It had some architectural details that are not found in most homes of today, like hardwood doors and trim, curved archways and original hardwood flooring from the ‘20s. The home was well-worn and needed some sprucing up...Read More

Black and Latino Homeownership at Record Lows - 10/02/2013
Despite a general upswing in economic fortunes for many Americans in recent months, the economic rebound and housing recovery largely have left black and Latino households behind, according to a recent report from the National Association of Real Estate Brokers. NAREB’s report, “The State of Housing in Black America,”...Read More

Million-Dollar Advice - 02/16/2011
It wasn’t till recently, after more than 10 years in the business, that Chad Rogers, a real estate veteran who starred in the first three seasons of the Bravo reality hit “Million Dollar Listing” reality TV star, purchased his first home – a Beverly Hills condo. With his expert knowledge and recent personal...Read More

6 Shocking Facts Facing First-Time Home Buyers - 11/30/2016
For anyone planning to plunge into the world of home buying, there are a few truths you’ve probably heard about: Spend as much as you can on a down payment to lower your monthly mortgage payment and carefully compare mortgage rates. But there are some things essential to the process that may surprise you. We’ve outlined the most...Read More

On the Waterfront - 10/01/2014
A body of water adds some idyll to a home – and a lot of value. Here��s what a nearby lake or ocean does to home prices One of the biggest indicators of a high-value home is easy to see. All you have to do is look for water. Across the country, the typical single-family lakefront or oceanfront...Read More

More Americans Looking to Buy - 04/01/2015
Confidence in housing market is on the rise among both current homeowners and renters looking to buy. More than 5 million renters are planning to buy a home this year, according to Zillow Housing Confidence Index. This figure – which represents more than 10 percent of all current renters in the U.S. – is a 25-percent...Read More

Approval Amendments - 01/27/2010
You often see it blazoned on a sign promoting a new condo development: FHA Approved! But beginning Feb. 1, "FHA Approved" won't just mean buyers are subject to FHA approval - the building's condo association also must be up to snuff. Under the new guidelines, condo associations must meet the following requirements for a buyer to obtain an FHA...Read More

Multi-gen families multiply, impacting home design and financing - 10/23/2019
Twenty percent of the U.S. population lives in “multi-gen” households, according to the Pew Research Center. That means two or more adults from different generations or a grandparent and grandchild under 25 are living together. The numbers of multi-gen households spiked up during the 2009 “Great Recession” when...Read More

New Rules for Mortgage Interest Deduction - 11/11/2015
The Internal Revenue Service has a keen interest in your mortgage interest. One of the big perks of homeownership is the deductibility of mortgage interest, allowing owners to whittle down the amount of their gross income subject to tax. That’s the broad-brush rule, but like just about all tax matters, there are...Read More

Home at School - 09/04/2013
A recent list of the top 10 college towns to invest in real estate by HomeFinder.com names Baltimore, Grand Forks, Mich., and Cleveland in the top three spots. If your child is headed off to college, buying a property in their new home away from home can be a lucrative investment. But before you do, here are a few tips to consider: •...Read More

The Perfect Renter - 10/10/2012
The rental market is heating up, and now is a busy time in a lot of rental-heavy communities. Prospective renters need to get their papers in order and act fast to snatch up vacant apartments. According to the National Apartment Association, several areas around the country are hot rental markets, experiencing an increase in annual rent...Read More

Ready for Disaster - 01/22/2014
Every year, natural disasters strike and inevitably cause damage to people’s property. Although 2013 saw low levels of hurricanes, wildfires and tornadoes, homeowners should keep on their toes when it comes to potential disasters. As natural events tend to be cyclic, the record lows of 2013 should be regarded as a sign that...Read More

Making Work Moves Work - 08/31/2011
One of the ills crippling the job market is a severe case of homesickness. The obstacle standing between many Americans and a new job is their home - and dim prospects of selling it at a price that makes relocating for a new position affordable. Despite high unemployment, "there is a talent shortage," notes Melanie Holmes, a vice...Read More

Playing ‘The Price Is Right’ - 09/04/2019
How sharp are your real estate instincts? Try this multiple-choice question for a clue: If you list your home, but don’t receive any offers, when would you opt for a price reduction? Three months? One month? Five months? None of the above? When1,000 consumers were surveyed by ShelterZoom, three months was the most popular...Read More

3 Tips to Stay in Money Love - 05/10/2017
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Where the First-Time Buyers Are - 09/10/2014
The homeownership rate fell to 64.7 percent in the second quarter of 2014, matching a nearly 20-year low, according to the U.S. Census Bureau. One reason: fewer first-time buyers. The percent share of first-time buyers in July was 29 percent, according to the National Association of Realtors, up 1 percent from June but still well below...Read More

The Truth About PMI - 10/31/2018
PMI coverage is typically required on a mortgage loan when your down payment is less than 20 percent. It serves as a safety measure for the bank/lender in the event you can’t pay for your mortgage, says Mike Mirshahzadeh, chief revenue officer for The Money Source, Melville, New York. “Lenders require PMI on loans because it...Read More

Where Today’s Down Payment Comes From - 11/16/2011
With the housing crash in the wake of the financial industry meltdown, gone are the days when most homebuyers could squeak by with a tiny down payment. Today, many lenders require a minimum down payment of at least 20 percent – which begs the question, where are buyers getting the extra funds needed nowadays? According to the...Read More

The Non-Family Room - 03/04/2009
My empty-nester client gave me a tour of her spacious and gracious home. Above her three-car garage was a large open room that her family had used as a playroom, library, TV room and homework center. But now that her kids were launched, she used it to fold laundry and for exercise (notice the large treadmill to the right). "This is a huge...Read More

The value of outdoor rooms - 06/01/2022
Especially since the pandemic, homebuyers value kitchens, entertaining areas, and cozy places to relax. Increasingly, though, the best of these features isn’t located in one of the rooms or square footage cited in a listing – because they’re outdoors. Indeed, outdoor rooms are hard to define. For one, the cost,...Read More

Catch That Contractor! - 09/11/2013
In many markets, homebuyers are investing money on new roofs, kitchen makeovers and brand new bathrooms. So much so that contractors are turning down new business because their schedules are full. “It’s really picking up,” says Dan Fritschen, CEO and cofounder of Planese, Inc., which provides a mobile app with tools to plan...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

Buying new construction amid scarce inventories - 02/24/2021
Suddenly, significant numbers of buyers want a new home. Pending sales contracts on new construction swelled to record numbers in late 2020. A perfect storm of low-interest rates, favorable buyer demographics, and increased desire in suburban developments is fueling demand, notes Robert Dietz, chief economist, National Association of...Read More

Sellers: Does your listing really click? - 02/12/2020
In the battle between online and brick and mortar to capture consumers’ purchasing dollar, smart home sellers stake a flag in both camps. Because buyers hop online and then decide to visit a home, the virtual and physical presentations should complement each other. That’s why stats on the “hits” or clicks a...Read More

Mortgage Help for Natural Disaster Victims - 12/05/2018
Regardless of flood, wind, or fire, when disaster strikes the federal government steps in to help. But homeowners may not realize that the federal government could already have a hand in their mortgage. Specifically, Fannie Mae and Freddie Mac, two government-backed agencies, buy a big portion of mortgages from lending firms. You can find...Read More

Crunch Time - 04/23/2008
For a lot of Americans who haven't been paying attention to all the news of the ongoing mortgage crisis, their first real clue of the insidious nature of the market's collapse may be when they try to secure a loan. Good luck with that. Many are finding that despite having clean credit records and modest debt loads, obtaining a...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

Home inspections can support a higher sale price - 09/30/2020
A home inspection, which a buyer orders after submitting a formal offer, is a hurdle most sellers would rather skip. After all, when an inspection reveals flaws like a foundation crack or wiring short in the attic, the seller typically has to get the problem fixed or give the buyer a price credit before a contract moves to...Read More

Friendly Confines - 02/06/2019
These days, selecting an apartment can feel like choosing a hotel for a vacation stay. Enticements like a fitness center offering free yoga classes, summer wine tastings at a rooftop lounge, regularly scheduled social events, like outings to a local brewery are becoming a staple, at least with pricier apartment communities competing for the...Read More

Renovations on the Mind - 07/30/2014
If you’re a homeowner, there’s a good chance you’re thinking about a remodel. Here’s the latest on the projects owners have planned Thinking about a home-improvement project? You’re not alone. More than two-thirds of consumers plan to renovate an area of their within the next six months, according to the...Read More

New vacation home loan fees complicate purchasing - 06/29/2022
Americans developed a voracious appetite for homes during the pandemic, with many going for “seconds”– sparking record high vacation home purchasing. But this March, vacation home sales dropped “sharply for the second consecutive month,” according to Redfin, although sales remain up 13% compared to...Read More

The Pros And Cons of Different Mortgage Lenders - 08/25/2021
We no longer have to visit a physical store to buy everything from groceries to a new car, so why would we look for a mortgage at a neighborhood bank or credit union? In fact, in 2020, the majority of mortgage seekers -- 68.1 percent – didn’t tap a financial institution where they might have their checking or savings account,...Read More

Mixing Work And Pleasure: Growing Popularity Of Short-Term Rentals - 11/24/2021
The pandemic upended Americans’ relationships with their homes. Many, forced to stay home, decided that they didn’t like what they had, and looked to put down roots in a more comfortable home. Others went in the opposite direction, not wanting to call any place home for long. Now, companies like Sentral, Landing, Mint House...Read More

The Best Is Yet To Come - 08/03/2016
If things go as planned, lots of retirees won’t have to travel to find fun, it will be available right at home. So much attention has been paid to older homeowners who move to a smaller, less expensive place to ease tight retirement budgets that the word describing the practice – “downsizing” – is part of the...Read More

Don’t Ask for Forgiveness - 12/25/2013
On January 1, a tax break intended to help struggling mortgage borrowers is set to expire, and the financial repercussions could be major. The Mortgage Forgiveness Debt Relief Act (MFDRA), signed into law in late 2007, was enacted to offer relief to homeowners who reduce their mortgage debt as a result of a short sale, foreclosure or...Read More

Coming home to buy your own - 10/19/2022
During the pandemic, now 28-year-old Megan Zuckerman left her New York City apartment for her parents’ home in New Jersey. But seeing friends struggling to find affordable rentals in the city now, she’s decided to stay with family to save for a down payment and avoid continually facing a lease expire. She’s hardly...Read More

Mortgage Worries? - 10/21/2020
Any homeowner who’s hoping their financial situation will improve soon shouldn’t wait. Contacting a qualified counselor and/or communicating with your mortgage firm now is the route sound financial footing, even if your paycheck will quickly rebound to its pre-Covid level. Industry stats show some 3.5 million mortgages are...Read More

Get ‘Techorating’ - 07/29/2009
In years past, the boxy TV set and supersized home stereo were looked upon as practical, even though they robbed space and collected dust. But today’s ultra-sleek high-tech devices can be as feng shui as a flourishing lucky bamboo plant and as aesthetically pleasing as a nicely framed lithograph of Van Gogh’s “Starry...Read More

The new COVID-19 related mortgage rules - 07/15/2020
Unlike 2009, this recession can’t be blamed on loose mortgage lending standards. But, rules have tightened nevertheless during this virus-induced downturn. Just as the course of the virus is uncertain, so is any forecast on when lending restrictions could begin easing – or tightening further. “My guess is that...Read More

The Model Renter - 12/05/2012
Ever wondered what apartment managers desired in a renter, besides having no loud parties and paying rent on time? According to a recent survey by rental website Rent.com, the most important factor in choosing a renter is the gross income to rent ratio, which was rated “important” or “very important” by 74 percent of...Read More

Home buyers, owners face cold truths - 11/02/2022
It’s going to be a cold winter. That forecast isn’t from the National Weather Service, and it concerns temperatures indoors, not out. Homeowners will likely be turning their thermostats down and donning sweaters in the 2022-2023 winter, since the National Energy Assistance Directors Association {NEADA} estimates the...Read More

Why Rental Options Are A-Changin’ - 10/28/2015
Reverberations from last decade’s housing crisis have and are reshaping the rental market. For one thing, if renters crave brand-new construction, there is more to choose from. Developers in 79 U.S. markets built 173,000 apartment units in 2014, will build about 220,000 this year, and are projected to construct 190,000 units in...Read More

About That Garage ... - 11/02/2011
In recent years, great attention has been paid to how to remodel a garage to fit many homeowners’ storage needs – for cars but also for other items like seasonal clothing and holiday decorations. Not every house comes with a garage, however, particularly smaller or older homes. With the continued slow housing market, many...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

Many Plan to Buy in 5 Years - 07/12/2017
Fifty-four percent of Americans are planning to buy a home in the next five years, a figure that’s up 12 percent from last year. Those surveyed also are willing to pay an average of $277,000 for a home and plan to contribute an average 32 percent down payment. These numbers appear courtesy of the 2017 BMO Harris Bank Homebuyers Report....Read More

Do You Know Your Rate? - 02/04/2015
“Age ain’t nothing but a number,” as the saying goes, but do mortgage rates deserve the same devil-may-care attitude? They might not deserve it, but they’re getting it. More than one-third of borrowers – 35 percent – say they are not very confident they know what their current mortgage rate is,...Read More

Say the Magic Word - 10/27/2010
What seller doesn't want his agent to love his home and convey all the positives to potential buyers? Well, like a proud parent who applauds too loudly at a child's dismal performance, it's sometimes apparent that praise is hype, attempting to prop up a sub-par property. "Verbal descriptors are subject to 'puffing,' and rather than...Read More

Rents on the Rise - 01/07/2015
Buying now is twice as affordable as renting, but that doesn’t mean it’s any easier for young buyers to get into the market As it’s gotten more affordable to own a home, the exact opposite has taken hold for renters. American homebuyers making the national median income and purchasing the typical U.S. home spend just...Read More

More Women and First-Timers Buying Homes - 11/09/2016
First-time buyers and single women are two key demographics that have dropped out of the real estate market in recent years. This past year, they have reversed course and increased their participation in the market, just as the rate of home sales has increased in general. This is according to the 2016 National Association of Realtors’...Read More