Is your mortgage a monster?

Is your mortgage a monster? - 10/14/05: "Bryan Jendreas grabbed a great bachelor pad last September. One-thousand square feet, two bedrooms and three floors, right in fashionable Royal Oak. With a no-money-down mortgage, he could finance the entire purchase price and pay less than if he were renting.
A little more than a year later, however, the 29-year-old can't sell the condo for what he paid for it. Like a lot of recent first-time home buyers, he's discovering that zero-down financing and other creative mortgage options that make it easy to get into a home also can make it hard to get out during tough times. "
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Half of home loans for area blacks high-cost

Journal Gazette | 10/11/2005 | Half of home loans for area blacks high-cost: "About one of every two home loans made to blacks in the Fort Wayne area last year � whether a new loan or refinancing was a high-cost loan, saddling borrowers with higher interest rates, higher fees and higher payments, a new study says.
About 48 percent of blacks buying homes in the Fort Wayne metropolitan area, which includes Allen, Wells and Whitley counties, got high-cost loans, and about 52 percent of blacks refinancing had high-cost loans, says The High Cost of Credit,� a national study of 2004 federal Home Mortgage Disclosure Act data by the Association of Community Organizations for Reform Now. ACORN is a national non-profit group that advocates for better housing."
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Report Asks: What Trouble, Housing Bubble?

RISMedia - Residential Real Estate's Largest Independent News & Information Service - Immediate access to industry news,top real estate professionals,and the nation's most respected product and service firms real estate referral,real estate tr: "From casino workers on the Strip to financial analysts on Wall Street, the so-called housing bubble is popping up more and more as the center of conversation, an investment advisory newsletter editor notes.

Every homeowner, prospective buyer, analyst and armchair real estate expert has an opinion about where housing values are headed, said Doug Fabian, president of Fabian Wealth Strategies and editor of three investment advisory newsletters in California"
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Thirty-somethings face home-buying problems

The Latest National News Updated Hourly: "Increasing house prices could leave one in three thirty-somethings unable to afford to buy their own homes, unless house-building increases, the Office of the Deputy Prime Minister has warned.
According to figures released by the ODPM, if current building rates continue, the proportion of thirty-something couples able to afford their own home by 2026 would fall to a third, compared to half the couples today and two thirds in the late Eighties.
Currently, 71% of households in the UK are homeowners, but 90% say they would like to own their own home at some point.
However, according to the Survey of English Housing 2004/05, the number of households belonging to those under 30 years of age with a mortgage fell from 40% to 36% between 2000 and 2004.
The ODPM also found that 23% of first-time buyers are relying on gifts and family loans in order to afford a deposit, compared to just 4% twenty-five years ago."
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Women join house-buying fray in record numbers

The Independent: "Tyra Hankison doesn't need Lance Romance to help her make mortgage payments.
I didn't want to sit around and wait for someone else, said Hankison, 30, of Massillon. I wanted to do it by myself. A lot of people are ready to have their own home.
Hankison, who is in the final stages of buying her first house, is one of a swelling number of single women who are buying homes in the United States. Single women account for the quickest growing segment of America's home-buying population. Last year, they represented 18 percent of the market, second only to married couples, according to a recent study."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Home Buying Season Coming to an End; Be sure the home you purchase is termite free

Home Buying Season Coming to an End; Be sure the home you purchase is termite free: "--As the summer comes to a close, home buyers and sellers alike are anxious to seal the deal. With all the paperwork and other formalities involved in buying a house, it's important that home buyers don't overlook some of the most critical areas.
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.


For example, home inspections are a necessary step for getting a more in-depth look at the health of a home and potential work that needs to be done before closing. Finding an inspector that understands the threat that termites present and the options available is just as critical. Although rarely covered by homeowners insurance, termite damage is more likely than storm, fire or earthquake damage.
Signs of termite damage typically include large swarms of winged insects inside and/or around the home, mud tubes on walls, hollow sounding wood, and dead termites or wings around windows, doors, heating vents or in bathtubs and sinks. If termites are discovered, sellers are usually referred to a licensed pest management professional; however, not all termite treatments that they offer may eliminate the problem. "

Young Adults - The Fastest Growing Home Buying Segment

Young Adults - The Fastest Growing Home Buying Segment - OriginatorTimes.com: "When most of his peers were splurging on cars, clothes and bar outings, 19-year-old Bryan McLaughlin was shopping for his first home.
'I had a bunch of money saved up, and I was looking at cars when a friend recommended I buy a condo,' he said in September.
McLaughlin, a Canton, Mich., resident, skipped college and at 17 began to work 50 hours a week at an orthodontic lab and a liquor store. By 19, he had put aside more than $20,000. With the tax incentives in mind, he decided to put all of it down on a 1,440-square-foot, $180,000 condo that overlooks a golf course."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Hispanic Business - Home-Buying Trends Vary for Hispanics

Hispanic Business - Home-Buying Trends Vary for Hispanics: "In 2001, when Hispanics made up approximately 12.9 percent of the U.S. population (it is 14.1 percent currently), the Hispanic percentage of homeowners was about half of that -- around 7 percent -- in three of four residential property categories. The exception being the 2- to 4-unit or multifamily category, where 13.7 percent of all owners were Hispanic.
This is according to the highly detailed 368-page U.S. Census report 'Residential Finance Survey: 2001,' sponsored by the U.S. Department of Housing and Urban Development, which breaks residential ownership and financing information out by ethnic/racial group. "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Rising rates could deflate home buying

Rising rates could deflate home buying: "The most likely pattern is for mortgage rates to gradually rise over time. It is likely that they'll hover at 6 percent or just a bit over,' said Frank Nothaft, chief economist at Freddie Mac. He added that 'will translate into somewhat weaker demand for housing, lower home sales volume and lower house price growth.' "
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

First home buying levels hit new high - Breaking News - Business - Breaking News

First home buying levels hit new high - Breaking News - Business - Breaking News: "First home buyers are emptying their piggy banks and putting down deposits, attracted by stable interest rates and additional incentives to borrow in a competitive lending environment.
Figures from the Australian Bureau of Statistics this week showed the proportion of all home loans approved going to first home owners hit a three-year high in August, rising to 17.3 per cent from 16.4 per cent.
CommSec chief equities economist Craig James said the improved affordability of housing was highlighted by the fact that the average loan taken out by first home buyers in August was only 2.9 per cent higher than a year earlier - the smallest growth in just over four years."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Defaulted property Buying Gets Back to Basics

Bob Bruss Real Estate Center: "If you want to learn the benefits and the basic procedures of investing in foreclosure property, reading 'Buying Real Estate Foreclosures, Revised and Expanded' by Melissa S. Kollen-Rice is a great place to start. This updated book provides a superb summary of the profits and pitfalls to anticipate when becoming involved in the unique world of foreclosure properties.
Will this book make buying a foreclosure house at a below-market purchase price as easy a purchasing through your friendly real estate agent? No. Will you learn everything you need to know about making a profitable foreclosure purchase and avoiding the risks? No. Will you become a foreclosure purchase expert by reading this enjoyable book? No."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.

Quick Offers For Your Home Require Thorough Strategy

: "They were a retired couple in their 70s with a ranch-style stucco house in a solid, middle-income neighborhood. Sure, they planned to liquidate their property -- and knew they were selling in a fast-moving market. Yet, they were stunned when a full-price offer materialized within a few hours after the house was put up for sale.
The couple accepted that bid, but it soon threw them into a panic. They had expected more time to formulate future housing plans. Instead, they were faced with leaving their cherished abode much sooner than anticipated. When the moving van arrived, they were stressed and unprepared. 'For nearly an entire day, I just sat there waiting for them to move. There was no possible way to bring furniture into the house until they left,' recalls Monte Helme, who bought the house."
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Buying a Home Foreclosures- Buying a home foreclosures makes you generate quick profit. Step-by-step process in buying a home foreclosures for quick cash.