Ha ha! Great chart from the Calculated Risk blog (You don’t mind do you, Bill?). Amazingly, the arrows are depicting a true position. Lucky (dumb luck) for me I bought and sold in the same month—Oct 2006. Five years ago this month.
The chart looks ominous in my opinion. Have you ever heard of a dead cat bounce? How about Enron? There you have it.
With the current mortgage crisis gripping the whole world, and foreclosures still going on at an alarming rate, your mortgage may be at the top of the list. The stress is affecting people everywhere, but you can’t let your loan control your life.
Though economies around the world are showing signs of recovering, that does not mean we’re out of the crisis yet. Foreclosures are still continuing at an alarming rate, and the stress of keeping up the bills is affecting many people around the world. Here are eight tips to help you beat the heat:
Getting a mortgage while being self employed in some cases is more difficult but there are definite methods of receiving a home loan when it is required. It can be, however, quite different to when a person is employed by another company.
The Process of Getting a Mortgage while Self Employed
When a person is running their own home business, but they need a mortgage, the process is very different compared to a regularly employed person. The way that a person assesses their income can be complex. Many times as a result of this difficult process, individuals who are self employed have a hard time receiving the mortgage that they need using their tax returns.
Continue Reading…
Owning a home today is one thing many people strive for but aren’t aware of the burden a mortgage can become. It is one of those payments that is necessary but you dread making it month after month for years on end.
When homeowners think about reducing their debt they typically do not include a mortgage as part of their bad debt. We are more concerned with the credit cards and personal loans that tend to acquire over a lifetime.
Though seeking a debt consolidation will greatly reduce your debt and the interest you pay by combining your additional debts within your home loan, focusing on reducing your home loan can also save you thousands.
Continue Reading…
I have a friend who will only buy foreclosed homes. He gets awesome deals because, unlike me, he’s not afraid to put in a little elbow grease (I shudder).
Shuddering aside, sometimes the deals are so good that even a fixer upper neophyte like myself can be tempted to buy. However, no matter how hard I’ve tried to bribe him, he’s never revealed his sources for finding these homes.
Well, now I can stop bugging him. Fannie Mae and Freddie Mac, now ubiquitous names in the American housing meltdown, are unloading foreclosed properties as fast as possible.
Continue Reading…