New HAMP Rules allow for loan forgiveness for some homeowners who are underwater with their mortgage. Other homeowners, who are not struggling with their mortgage and don't need loan forgiveness, might not understand the new HAMP rules. It may seem like loan forgiveness is letting struggling homeowners get off easy, but the new HAMP rules and loan forgiveness is the most promising option to help the economy in the middle of a housing crisis.
It's The Economy, Stupid! President Obama finally declared an end to the Iraq war and promised to refocus on getting the economy revved up in the U.S. But where are we? The FDIC says more than 10 percent of banks are on the verge of failure. Americans are still losing their jobs in droves. This week, the unemployment claims slipped a little but were still at 472,000 for first-time unemployment claims. That signals a troubled economy. And yet, the stock market went up 254 points yesterday. It's a confusing mess and unfortunately leads to one conclusion - no one really knows what is going on.
Ilyce Glink Show Notes - August 29, 2010 - Careathon Thanks, How to Profit From Foreclosures, Existing Home Prices Falter, 5-year Anniversary of Katrina. Our thanks to our fabulous Newstalk WSB listeners for their amazing Careathon donations. How to find great health insurance. Should you refinance? Maybe not. And, what about loan modifications? Visit Ilyce's blog for more links and information.
Ilyce Glink Show Notes - August 29, 2010 - Careathon Thanks, How to Profit From Foreclosures, Existing Home Prices Falter, 5-year Anniversary of Katrina. Our thanks to our fabulous Newstalk WSB listeners for their amazing Careathon donations. 2for1 discount special (50% off each ticket) for How to Profit from Foreclosures. How to find great health insurance. Should you refinance? Maybe not. And, what about loan modifications?
Thanks for listening to the 10th annual AM 750 and Now 95.5 FM News/Talk WSB Care-a-Thon benefiting the Aflac Cancer Center and Blood Disorders Service of Children's Healthcare of Atlanta.
We raised over $1.4 million dollars this year, and with the help of our listeners and News/Talk WSB hosts Ilyce Glink, Scott Slade, Neal Boortz and Clark Howard, the annual Care-a-Thons have raised more than $8.5 million for the Aflac Cancer Center.
Raise your credit score in order to buy a home with bad credit. Buying a home with bad credit is difficult, raising your credit score can help. Raising a bad credit score--even a little--is the only way to buy a home with bad credit. Raise your credit score by paying bills on time. Get your free credit report and monitor your bad credit if looking to buy a home.
Can you save money by refinancing? With the low interest rates, a lot of people are asking, "Is it time to refinance?" The goal of refinancing is to save money. So, if you can save money on your mortgage by refinancing, it is the right time to refinance. However, you have to consider the closing costs and the length of the loan. If you change the terms of your loan, you may not save money by refinancing, even with a lower interest rate. Consider how much money you will save on your mortgage when trying to decide if it is the right time to refinance.
Home sales data shows housing market still down. Real estate market outlook and home prices low according to recent home sales data. Recent home sales data shows housing market still down despite government efforts like loan modification programs and the first time home buyer tax credit. National Association of Realtors and National Association of Home Builders say housing marker still down, reflect home sales data.
Pay lump sum off mortgage to save on interest. Making a prepayment on your mortgage loan or paying off a lump sum saves money on interest. Pay a lump sum off mortgage to get rid of a mortgage loan faster. Paying a lump sum off a mortgage can save years on mortgage loan payments. If you have liquid cash reserves, pay a lump sum off your mortgage and save on the interest of your mortgage loan.
Sometimes an inherited house is a drain on your income, and maintaining the property is impossible. Also, if you take out a mortgage on your inherited house, the mortgage payments may be more than you can afford. Selling your inherited house for additional income may be a good option, if you can't afford your inherited house. Talk to an estate attorney and an experienced real estate agent to find out if selling your inherited house is an option to bring in additional income.
