More than 9,300 homeowners lost properties last quarter
More Chicago-area homeowners lost their homes to foreclosure in the first three months of the year than in any quarter in the past five years. This disturbing statistic raises doubts about the effectiveness of mortgage loan modification efforts and could put more downward pressure on property values.
Chicago-area foreclosure auctions hit new high
I have always advised consumers who need a mortgage to decide early on whether they wanted to shop for one themselves or retain an expert to shop for them. Shopping for a mortgage is very different from shopping for a mortgage expert.
Source: Association increases trust in mortgage broker business
I have always rented. The owner of this new house has offered to let me rent to own. I have a basic idea of what is involved: appraisals, deed searches, inspections and closing cost. How do you set a selling price without an appraisal? And how can I find out the market price?
WASHINGTON (AP) — Sales of new homes surged 27 percent last month, bouncing off the previous month’s record low and blowing past expectations as government incentives and better weather boosted sales.
New home sales rise 27 pct in unexpected surge from record low as spring selling season begins
Anyone who has ever restored a vintage home knows it’s a labor of love. Sometimes that labor is frustrating, particularly when essential pieces are missing, rotted, painted over or otherwise obscured. Sometimes that labor turns into life work, often in more ways than one.
Source: Suburban homeowners hone restoration skills into a career path
Whether you’re scaling up or down, The Trails of Pheasant Ridge offers homes for each type of buyer at its new home community in the quaint town of Richmond.
The eight-bedroom Hollywood Hills castle-like home has views of the Hollywood sign, downtown and the ocean.
Moby, as DJ and singer-songwriter Richard Melville Hall is known, has purchased Wolf’s Lair, a Hollywood Hills castle-like fortress with views of the Hollywood sign, downtown and the ocean, for $3,925,000.
Moby buys Hollywood Hills castle
We tend to undervalue the future. Nowhere is this tendency stronger than in finance, and nowhere in finance is it stronger than in the mortgage market. Borrowers focus on the monthly payment, because that is today’s problem, to the neglect of how much they owe and the future obligations they may face, because those are tomorrow’s problems.
Source: How early-year mortgage savings can become future liability