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Return on Investment; In today's market, certain projects can enhance sales potential
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For months, Alan Friedman avoided the reality of a changing real estate marketplace. Content with the status quo, Friedman balked at the suggestions of his Realtor, who nudged him to refashion the Lakeview property he was attempting to rent. Owner of a Victorian three-flat for three decades, Friedman never encountered much trouble finding a tenant. One would leave, another would enter. He never once advertised. When tenants moved out in August 2007, however, Friedman found himself in an...
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MIDDLE-CLASS BLUES; Rent-to-own is option for those who need one; It's on the rise with those who.
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Like so many people, Kris Weber, 37, never imagined she'd be in this prickly place at this time in her life. Five years ago, the office manager for an Andover dentist was married and living in a seven-bedroom, two-bath family home in Coon Rapids that she and her husband had bought from his parents for about $260,000. His three nephews and a niece lived with them on and off. Between their two jobs, they paid their bills and had a little left over for the movies and trips to the Minnesota Zoo....
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New loan program 'falls short'; Only Fannie, Freddie mortgages qualify for lower rates, longer...
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WASHINGTON -- Once again, the government has offered another plan to help troubled homeowners. Once again, critics say it doesn't go far enough. The plan announced Tuesday by federal officials and mortgage giants Fannie Mae and Freddie Mac sounds sweeping in its approach: Borrowers would get reduced interest rates or longer loan terms to make their payments more affordable.
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FDIC offers new mortage aid plan
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WASHINGTON Publicly breaking with the Bush administration's official stance, the Federal Deposit Insurance Corp. proposed Friday to use $24 billion in government funding to help 1.5 million American households avoid foreclosure. Where to find that money, though, is in dispute. FDIC officials want to use part of the $700 billion bailout of the financial industry to pay for it. But the Treasury Department is opposed to that idea. Testifying on Capitol Hill Friday, Neel Kashkari, the Treasury...
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Return on Investment; In today's market, certain projects can enhance sales potential
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For months, Alan Friedman avoided the reality of a changing real estate marketplace. Content with the status quo, Friedman balked at the suggestions of his Realtor, who nudged him to refashion the Lakeview property he was attempting to rent. Owner of a Victorian three-flat for three decades, Friedman never encountered much trouble finding a tenant. One would leave, another would enter. He never once advertised. When tenants moved out in August 2007, however, Friedman found himself in an...
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The government may let more borrowers qualify for a $300-billion program designed to let troubled homeowners swap risky loans for more affordable ones, a top Bush administration official said yesterday.
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New rules on home loans; The U.S. will require greater clarity on terms and costs.
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Lenders and mortgage brokers will be required to provide U.S. home buyers clearer information about loan terms and closing costs under rules issued Wednesday by the U.S. Department of Housing and Urban Development.
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New bailout focus: how to fight foreclosures
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First came Wall Street. Now Washington is turning more of its attention to Main Street, as the federal government moves to try and rescue more mortgage holders in financial trouble. On Nov. 11, administration officials announced a plan for refinancing delinquent loans held by Fannie Mae and Freddie Mac, the giant government-controlled mortgage companies. The move could lead eventually to lower payments for hundreds of thousands of homeowners. But the future extent of Uncle Sam's housing...
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Do you qualify for bailout aid?
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From wire reports WASHINGTON Once again, the government has offered another plan to help troubled homeowners. Once again, critics say it doesn't go far enough. The plan announced Tuesday by federal officials and mortgage giants Fannie Mae and Freddie Mac sounds sweeping in its approach: Borrowers would get reduced interest rates or longer loan terms to make their payments more affordable. But there's a catch. The plan focuses on loans Fannie and Freddie own or guarantee. They are the dominant...
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Plan to ease mortgage payments
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In an attempt to keep struggling homeowners from losing their houses, federal officials yesterday announced a simpler and quicker procedure for modifying loans held by mortgage giants Fannie Mae and Freddie Mac and expressed hope that it would be adopted by the entire industry. The plan targets people who have missed three or more mortgage payments, live in the home and have not filed for bankruptcy protection.
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