Short Sale Is Definitely Better Deal If You Have The Money

Thursday, March 12, 2009, AM | 1 Comment

In this lousy market, there is a phenomenon known as underwater mortgages. That means the house is worth less than the mortgage loan still remaining to be paid on the property. If you sold the house in this kind of situation, the money you get from the sale will not be enough to pay off […]



Is REO a better deal if you have the money

Wednesday, March 11, 2009, AM | Leave Comment

Doing some research via my favorite search engine, I came across a phenomenon called Real Estate Owned property, or REO. Simply stated, these properties belong to mortgage lenders, mostly banks. They outright own the property. REO kicks in as follows: Foreclosure begins with a homeowner’s failure to make a mortgage payment and ends on the […]



Madoff Guilty Plea Expected

Tuesday, March 10, 2009, PM | Leave Comment

USA Today ran an article about “Madoff guilty plea expected; trustee’s found only $1B so far” By Kevin McCoy. Bernard Madoff is expected to plead guilty to 11 criminal charges with a combined maximum penalty of 150 years in prison, enough to all but ensure the disgraced financier dies behind bars, his attorneys said Tuesday. […]



Preserving What You Have Saved After Layoff

Monday, March 9, 2009, AM | Leave Comment

Since the start of the recession, more than 3 million people have lost their jobs, according to the Bureau of Labor Statistics. Are you one of them? If you are, then you ought to make decisions about your personal finances and the sooner the better. In addition to making decisions about your health and insurance […]



Financial news – Mar-07-2009

Saturday, March 7, 2009, AM | Leave Comment

Madoff expected to plead guilty to fraud charges Bernard Madoff, accused mastermind of a $50 billion (35.5 billion pounds) investment fraud, is expected to plead guilty to criminal charges next week, three months after his arrest shocked his customers worldwide. A court document signed on Friday by prosecutors and Madoff’s lead attorney indicated the once-respected […]



Tips To Consider Before You Decide To Refinance

Saturday, March 7, 2009, AM | Leave Comment

Refinancing a mortgage means paying off an existing loan and replacing it with a new one. There can be many reasons why homeowners will want to refinance. Some of them might be: The opportunity to obtain a lower interest rate The chance to shorten the term of your mortgage To convert from an adjustable-rate mortgage […]



Great Opportunity If You Are An Expert

Friday, March 6, 2009, AM | 1 Comment

As the recession continues to deepen, a small but growing number of people are taking their skills online, doling out expertise or performing specified tasks for a fee. Work at home sites are gaining popularity as people increasingly turn to the Web in search of work. Internet job-search sites saw a 51% rise in traffic […]



Financial news – Mar-05-2009

Thursday, March 5, 2009, AM | Leave Comment

20% Of Homeowners Underwater From CNBC this morning, we get this cheerful statistic: One in five U.S. homeowners with mortgages owe more to their lenders than their homes are worth, and the rate will increase as housing prices drop in states that have so far avoided the worst of the crisis, a new study shows. […]



Big Changes In Consumer Buying Psychology

Thursday, March 5, 2009, AM | Leave Comment

American buyers have pulled back like rarely before. Friday’s government report on the economy showed that consumer spending fell at an annual rate of 4.3% in the fourth quarter from the third quarter. That came on top of a 3.8 % decline during the previous quarter, which itself was the biggest decline since 1980. Even […]



Financial news – Mar-04-2009

Wednesday, March 4, 2009, AM | Leave Comment

Debt Collectors Now Coming After Dead People’s Next Of Kin The banks need another bailout and countless homeowners cannot handle their mortgage payments, but one group is paying its bills: the dead. Dozens of specially trained agents work on the third floor of DCM Services here, calling up the dear departed’s next of kin and […]