Housing Starts Plummet Construction of new homes fell nearly 17% last month to an all-time low, signaling no clear end to the housing market troubles. Starts fell to a seasonally adjusted annual rate of 466,000 in January, according to the Commerce Department. That’s the lowest level since the government started keeping records in 1959. January […]
Bailout Stirs Up Strong Feelings
Bailout Stirs Up Strong Feelings Banks got bailed out. So did automakers. So why not struggling homeowners? The question has struck a raw nerve across the country, with critics saying the Obama administration’s latest housing rescue rewards people who bought homes they couldn’t afford. Others counter that the taxpayer-financed plan will slow spiraling home prices […]
Employed? What’s In the Stimulus Package for You?
Employed? What’s In the Stimulus Package for You? This video breaks down the economic stimulus package in detail to find out exactly who gets what. Here’s how the government stimulus package benefits those who are currently working and employed. (Runs 1:32)… Have questions or concerns about the Obama Stimulus Package? Join the crowd. Care to comment […]
Second Chance for a Stimulus Credit
Second Chance for a Stimulus Credit It’s not often the government gives you a second chance at some extra cash if you miss out the first time. But that’s the case with the Recovery Rebate Credit, part of the economic stimulus package that was passed by Congress in 2008. Taxpayers got a maximum $600 each […]
Foreclosures Down 10%
Foreclosures Down 10% Foreclosures dropped in January, a possible sign that efforts to slow foreclosures through moratoriums and mortgage modifications are having some effect. But the moratoriums raise concerns that foreclosures are only being delayed, not prevented. In addition to the recent drop in foreclosures, there have been other promising signs in the bruising housing […]
Mortgage Lending: The NEW Rules
Mortgage Lending: The NEW Rules If you’re shopping for a mortgage these days, it’s a whole new world out there. many of the subprime loans that helped fuel the housing boom – those that didn’t require borrowers to show any proof of income, or that let homeowners make minimum payments – are are simply no […]
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