Housing Information

News Archive

2008

August

20

• Federal foreclosure program may fall flat in CA. To Congress, it looked like a way to both ease blight and provide affordable housing: give local governments $4 billion to buy, repair and resell homes lost to foreclosure. But the program -- included in…

• Home repairs become focus as consumers feel pinched. Suddenly, the theme in home goods retailing is “in with the old.” With the housing market in the doldrums and inflation running at a pace unseen in nearly two decades, consumers are not buying new…

19

• "Préstamos mentirosos". En la industria hipotecaria, se les llama "préstamos mentirosos" - hipotecas aprobadas sin requerir prueba de los bienes e ingresos del solicitante. El vapuleado mercado de viviendas en Estados Unidos, ahogado ya en ejecuciones de…

17

• Insurers avoid getting soaked in subprime storm. The one financial industry that seems to be dodging the subprime bullet is insurance. Only a handful of companies have had their safety ratings knocked down because of an excessive exposure to Wall Street's toxic…

• Before you take the housing credit. Part of the Housing and Economic Recovery Act of 2008 authorizes a tax credit of up to $7,500 for qualified first-time home buyers. Based on the questions I'm getting from readers, many people are ready…

• Fannie, Freddie will raise some fees, lower others. The two biggest sources of mortgages for American home buyers plan to raise their base fees to counter what they see as continuing "adverse conditions" in the real estate marketplace. At the same time, however,…

15

• Less than golden years. Even before the housing bubble, the country was facing a retirement crisis, with most Americans saving too little, if anything, for their post-working years. The housing bubble — and subsequent bust — have made that…

• Home equity frenzy was a bank ad come true. That catchy slogan, dreamed up by the Fallon Worldwide advertising agency, was pitched in 1999 to executives at Citicorp who were looking for a way to lure Americans to financial products like home equity loans.…

• Foreclosures soar despite efforts to help. The magnitude of home foreclosures appears to be overwhelming the efforts of lenders to help distressed borrowers keep their homes. To help stem the wave of foreclosures, some lenders have been easing the terms of…

14

• Think of tax credit as 15-year loan. Lots of folks have been asking me whether the much-touted first-time homebuyer tax credit is worth taking. "I'd like to see you write a follow-up on who should take advantage of this credit," wrote Liz…

• Mortgage insurers' losses mount. Large mortgage insurers have reported $2.6 billion in losses so far this year, sparking concerns that rising foreclosure rates could force the industry into a money crunch and ultimately make the home-buying process even more…

• Crece cifra de hogares en ejecución hipotecaria. El número de hogares en EE.UU. en proceso de ejecución hipotecaria aumentó en julio un ocho frente al mes anterior y un 55 por ciento con respecto a hace un año, informó hoy RealtyTrac, compañía…

13

• Mechanism for credit Is still stuck. A year after financial tremors first shook Wall Street, a crucial artery of modern money management remains broken. And until that conduit is fixed or replaced, analysts say borrowers will see interest rates continue to…

• El robo de identidad para trabajar. El robo de identidad es uno de los crímenes de mayor crecimiento en Estados Unidos durante los últimos años y los hispanos no sólo no son ajenos al problema, sino que lo sufren incluso en…

12

• The next wave of mortgage defaults. Prime mortgages are starting to default at disturbingly high rates - a development that threatens to slow any potential housing recovery. The delinquency rate for prime mortgages worth less than $417,000 was 2.44% in May,…

11

• Cash strapped states quicker to grab unclaimed funds. Faced with swelling budget deficits, a growing number of states are taking control of unclaimed property — such as bank accounts and traveler's checks — sooner. Generally, states can seize abandoned property if the owners…

• Los bancos restringen el crédito. Los bancos de EU están restringiendo desde abril la concesión de créditos a empresas y particulares, al tiempo que están subiendo las ejecuciones hipotecarias y las cesaciones de pago, indicó la Reserva Federal. Endurecen las…

10

• Credit card industry faces reforms. Stricter regulation of the credit card industry will probably be approved by the end of the year, consumer advocates, members of Congress and banking officials said as the comment period on the Federal Reserve's proposed…

• Help for seniors with reverse mortgages. There's a lot to digest in the Housing and Economic Recovery Act of 2008. I've addressed a few provisions of the new law already, and over the next several weeks I'll continue to comment on…

09

• The case for a new national frugality. Oil prices are plunging and the stocks in your 401(k) retirement account are rebounding. Time to fire up the SUV, head to the mall and whip out that credit card? That's what automakers, retailers, restaurateurs…