Before the birth of my second child in December, I was worried of the impact it would have on my firstborn, June, now 3. I was afraid she wouldn’t do well with a new baby in the house. Up until that point, June had been the center of everything—the object of all our love, devotion, […]
(File photo) Buying a home with cash. The phrase evokes images of lugging a large suitcase stuffed with bills to closing. What does it really mean and what’s involved? Buying with cash means the buyer has the money available to purchase the house outright; he or she doesn’t have to secure financing from a lender […]
The common stereotype of someone being evicted or foreclosed on is a deadbeat loser. And there are plenty of shady renters and homeowners out there. But if the housing bust taught us one thing, it’s that plenty of normal, non-deadbeat Americans found themselves facing eviction or foreclosure after they’d lost their jobs, seen the value […]
The dream scenario for most buyers these days is finding a foreclosure or short sale property. The fantasy is this: The buyer makes a lowball offer on a house that’s upside down in value—that is, worth less than the value of the original loan—figuring the bank is eager to cut its losses and unload the […]
In a rough housing economy in which homeowners have to routinely lower their asking prices to sell their homes, it’s logical for a seller to want to save money wherever possible, making the For Sale By Owner property seem like a good idea. A For Sale by Owner (FSBO) is exactly what it sounds like: […]
Sky-high student loans, a sluggish job market, inflated health care costs, and diminished retirement savings —it’s no wonder multiple generations of families are deciding to cut costs by moving under one roof. More than 51.4 million Americans—roughly one in six—have moved in with family, representing a 10 percent increase in this type of living arrangement […]
It seems like only yesterday that losing your job and missing a bunch of mortgage payments meant you were one step closer to homelessness. Not anymore. Likely beginning this month, homeowners who have experienced a substantial loss of income due to layoffs and cut-backs, as well as those who’ve suffered a medical condition, and […]
Wouldn’t it be great to use some of the cash tied up in your monthly mortgage payment for other purposes, such as investing in a child’s college fund, or saving for that long-awaited addition to your house? There is a way to do this without having to go through the rigmarole of refinancing, which […]
During the housing boom, sellers spent big on luxe touches like granite countertops, spa bathrooms and walk-in closets—splurges meant to increase the value of a home. These days, such luxuries are bringing lower returns than they once did. What’s to blame? A glut of new homes on the market, tighter lending and appraisal restrictions […]
First the bad news: Whether a bankruptcy, foreclosure or a deed in lieu of foreclosure, there’s no easy fix for repairing major credit issues. “Often nothing more than time will heal the process,” says loan officer Matt Hodges, owner of Compass Home Loans. The length of time differs depending on how cataclysmic the credit nosedive […]