1 in 4 Borrower’s Owe More on Their Mortgage Loans Than Homes are Worth, Says Report from California
When you take out a mortgage to pay for your loan, the last thing you want is to end up paying more on that mortgage than your house ends up being worth.
Consumer Confidence from Extended Tax Credit Could Boost Dwindling Home Starts, Says Toll Brothers CEO
The rate of housing starts has slowed since October as across the nation homebuilders unexpectedly started construction on fewer new homes.
Refinancing the Home: Know the Basics and Avoid the Pitfalls
For many homeowners, the concept of refinancing the home mortgage may seem very appealing and just the answer in these times of economic turmoil. After all, who would not want the ease of lower monthly payments, the security of a fixed rate loan, or better yet, the thought of freeing up some extra cash for that much needed college education savings, new car, or home renovation? Indeed, there can be so many reasons why a “refi” would be an attractive option for cash-strapped and financially distraught consumers. What many people fail to recognize however, is the reality that home refinancing is in fact, not a sensible move for everyone. While the numbers at a glance may appear promising, e.g. an interest reduction of 2%, there are still other factors to be considered.
No Respite Seen for US Housing Crisis
Both Homeowners and Lenders Face Uncertain Future -
Prospects for the recovery of the housing market in the near future remain doubtful as concerns over the battered US economy continue to mount, unemployment for more Americans loom, and consumer confidence and spending power is virtually non-existent.
The past few days have seen the persistent decline of the housing industry despite efforts by the government to show its support by way of apportioning bailout money to banks and financial institutions to get credit moving again and to provide means for restructuring home mortgages.
Wealthy Investors Expect Dreary Stock Market in 2009
Yet 50% Believe They Are on Right Track for Long Term, PNC Survey Finds The number of wealthy Americans who feel pessimistic about the stock market and real estate has nearly doubled in the past year, according to a survey by PNC Wealth Management, a member of The PNC Financial Services Group, Inc. More than half -- 53 percent -- have a gloomy outlook about stock market performance in 2009, the fifth annual Wealth and Values Survey found. Only one in four (25 percent) are optimistic about the market next year.
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