Investment : Looking to Buy Foreclosed Homes?

With interest rates at record lows and the stock market looking too perilous for small investors, many people are putting money in an asset they understand– real estate.
One of the best places to invest is in foreclosures and bargain residential real estate.
The current market conditions make it a perfect time for a small investor to [...]

Getting a mortgage – A REAL Mortgage

The true costs of owning a house
The first thing you have to do is look at the true costs of home ownership. It is vital that you understand that the cost of buying a home is about more than just the monthly mortgage payment, which also encompasses interest. Here are some of the other costs [...]

Deducting your mortgage interest

It is important to note that your tax form comes with a standard deduction. Right now, that standard deduction is as follows:
Single: $5,700
Head of Household: $8,350
Married Filing Separately: $5,700
Married Filing Jointly: $11,400
You can only take the mortgage interest rate deduction if you are using Schedule A to itemize your deductions, and forgoing your right to [...]

Do your homework on reverse mortgages

Information from 3 top experts:
Pamela Christensen, Certified financial planner
I expect to retire in about four years and will have a small Sacramento County retirement. We also have about $150,000 in CDs to live on. My parents got a reverse mortgage a couple years ago for the extra cash to live on and to have no [...]

FTC considering ban on loan modification scams

The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans.
Government officials say scammers seeking to take advantage of borrowers in danger of default often charge upfront fees of $1,000 to $3,000 for help with [...]

Congress Plans to Extend the ‘First-Time Home Buyers’ Tax Credit

The $8,000 tax credit for first-time home buyers is set to expire at the end of November, but lawmakers don’t want this benefit to end. While there have been some positive signs in the real estate market, the current credit hasn’t done much to stimulate house prices or the economy overall. All year, some senators [...]

Foreclosure Scam or Option?

The possibility of losing your home to foreclosure can be terrifying. The reality that scam artists are preying on the vulnerability of desperate homeowners is equally frightening. Many so-called foreclosure rescue companies or foreclosure assistance firms claim they can help you save your home. Some are brazen enough to offer a money back guarantee. [...]

Credit expected to stay tight for another year

Lending standards will remain tight until the second half of 2010, according to senior loan officers at large banks.
The Federal Reserve Board’s survey of bank lending practices over the past three months found that domestic banks continued to tighten standards and terms on all major types of loans to businesses and consumers. Demand weakened for [...]

Toxic Loans Topping 5% May Push 150 Banks to Point of No Return

More than 150 publicly traded U.S. lenders own nonperforming loans that equal 5 percent or more of their holdings, a level that former regulators say can wipe out a bank’s equity and threaten its survival.
The number of banks exceeding the threshold more than doubled in the year through June, according to data compiled by Bloomberg, [...]

Considering Bankruptcy? Think about these things

Bankruptcy is, of course, something that most people do not want to do if they can help it. But sometimes, you are so deep in the hole, or maybe you ran a business that failed, and you are saddled with debt because of it, that the best way out is to file bankruptcy.
So, what [...]

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