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Aug31
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With the volatile real estate market changes, there are many reasons cited for the market’s moves. Flipping, or the buying, fixing and selling of a property at a higher price can also be cited as a reason for market changes, and has been noted as one cause of an increase in foreclosures. The Mortgage Bankers Association has studied the numbers, and stated that non-owner occupied housings are seeing an increase in defaults. So, an increased number of foreclosures can include borrowers who purchased homes for repair, and found themselves unable to sell once the repairs were complete. Others may have purchased, rehabbed, and refinanced their property at a higher price, and then found themselves again, stuck holding a property they could not afford. Source
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Aug30
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Despite the news of subprime mortgage woes each week, if you can afford to do so, buying a house right now is truly a great idea. The subprime market is suffering, but if you can qualify for a 30...
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Aug29
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In this, the season for mortgage fraud, it’s important to note that there is also “mortgage rescue” fraud. Yesterday, I mentioned a couple of programs created to help buyers who are victims of sub prime loans. Today, just a...
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Aug28
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Brief mentions of aid available to help homeowners in the media has created a demand for organizations offering the help. Recently, the National Homeowner’s HOPE Hotline, and the Neighborhood Assistance Corporation of America (NACA) came forward with two separate...
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Aug27
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Mortgage rates are reportedly 6.62 on average this week. This is up 6.59 from last week, proving that there aren't any slows for 30 year fixed mortgages in the prime market. Despite foreclosures rising on sub prime loans, the prime...
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Aug24
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I was browsing a few websites today, just checking out some interesting things about housing, and real estate. I decided to highlight some of the fun things I find on Fridays when I find something interesting. Today I thought it...
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Aug23
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The Wall Street Journal is reporting a deal today between Bank of America and Countrywide Home Loans worth $2billion dollars. The move is said to boost investor and public confidence. Countrywide is displaying it’s power, making moves to beef...
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Aug22
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Leona Hemsley, died in New York on Monday, at 87 years old. Long known as the "Queen of Mean" for her personality, Ms. Hemsley is a pioneer for women, in real estate. Leona Hemsley was really, the Queen of...
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Aug21
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In an effort to neutralize the mortgage and housing industry, there will have to be some major changes that will start with the government. Last week, Democratic president hopefuls weighed in on their ideas and strategies regarding the mortgage industry....
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Aug20
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The market has officially gone mad! Or, so we hear! It is hard to believe that every day, I can find a news article regarding the "terrible" mortgage market. Had you heard the term "subprime" as often as you do...
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Aug17
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It was recently rumored that the widely popular and successful Countrywide Home Loans is looking at bankruptcy. Based on what I know about Countrywide, I’d say hold on to your hats, and wait this rumor out. Though there are...
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Aug16
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In light of yesterday's post, it seems Texas is gearing up for a new storm. Tropical storm, Erin is expected to hit this morning, as the state prepares for the aftermath and possible damage. The storm isn't expected to rise...
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Aug15
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There is an interesting article at CNN.com today, regarding funding for homes in New Orleans post hurricane Katrina. It seems that there are over 35,000 homes in New Orleans that qualify for the National Register of Historic Places. There are...
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Aug14
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Recently, a home in Canada hit the market for thousands of dollars less than homes of similar size, and stature. Located in a small town, the home has new paint, new flooring, new walls, a deck, and fenced backyard....
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Aug12
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Sponsored Review I believe what makes the internet so appealing is the fact that you can find just about anything you want, with just a few clicks. In the real estate industry, with service providers becoming more difficult to find, I...
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Aug10
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Are you looking to move, and don’t know where you want to go? Perhaps you grew up in an area, but never really ventured outside of it. Or, maybe you are moving to a new city. Here are a few...
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Aug 9
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Sponsored Review With real estate interest rates going up, pushing many buyers out of eligibility for loans, it may be a good idea to follow the lead of a great Australian website, Share House. Share House is a website that...
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Aug 8
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Interest rates recently took a hike, following the lead of big lender, Wells Fargo. Last week, for a 30 year fixed loan, you could find rates as low as 6.875%. This week? Try 7%. For some, that may not...
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Aug 7
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Property Cleaning with Dallas Carpet Cleaning. Keeping your home's furniture and carpets clean is what we do best. Now that listing your home on the MLS, and waiting for calls isn't working, what do you do? It's important for Sellers...
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Aug 6
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Traditionally, mortgage lenders have little patience for borrowers in trouble. In fact, you can take a look here, and see how specific states deal with borrowers facing foreclosure. However, in light of the sheer turn facing the mortgage industry...
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Aug 3
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Bankruptcy, mergers, closings. Not particularly words you would think of when thinking of the real estate and mortgage industry. Long held as an industry filled with longevity, it seems that recent law changes, and increased interest rates have many struggling...
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Aug 2
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Ready to dive in and buy that house you've been looking at? Be sure to have a clear understanding of the costs for purchasing, before you make an offer!Traditionally, closings costs are the cost associated with the purchase of your...
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Aug 1
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The word foreclosure is a heavy word. For some it may be a sad reminder of a financial situation gone wrong, and the loss of a home. For others, it may be lead to hope of finding a good real...
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