Homes For Sale

The nation’s lingering housing foreclosure mess is too often about folks with McMansion-size aspirations and duplex paychecks, granite counter appetites and laminate budgets.

And when we hear that one of the nation’s hot spots for foreclosures is Prince William County, we nod knowingly, thinking of the vast tracts of huge new homes and the dreamers who drowned in them.

But the other day, I met some of the folks who lost their homes or are fighting with banks to try to keep them. And McMansion isn’t what comes to mind.

“We still have the ’80s carpet in the house; we never refinanced and remodeled. We really

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The recent budget compromise reached in Washington DC that prevented a government shutdown had a direct effect of government-backed mortgages. The FHA program is an entirely government program so a government shutdown could have put a real crimp in the FHA mortgage originating and closing process. Thankfully, cooler heads prevailed and FHA loan proceed without interruption.

The spirited city of New Orleans took a big hit in recent years with a category five hurricane destroying most of the city and an oil spill threatening its beaches and waterways. This dilemma begs the question: What are senior homeowners doing to survive these natural and economic disasters?

Despite Decreased Home Values, Louisiana Residents Still Seem Optimistic

According to a recent study, Louisiana home prices and values have dropped by more than $15,000 statewide and more than $45,000 in the city of New Orleans alone since 2008. Even though home values have dropped dramatically, residents are still optimistic because the decrease has actually made senior nursing homes among the most affordable in the country. In addition, many seniors are using a Louisiana reverse mortgage to help them remain in their homes and maintain their current lifestyle in this shaky economy. Full article…

There are thousands of Americans facing the same or similar circumstances since the housing boom, and what was originally a huge housing boom, has now unfortunately turned into a home foreclosure boom.

The second thing you should realize is the fact that you will find options available to you. It might appear to be the most horrendous thing on the planet, to be taking a look at a house foreclosure possibility, and yes this is a serious issue. At the same time frame, a house foreclosure doesn’t have to mean the end of your life as you have always known it.

Now this may be a hard one to understand, but you should realize that the banks don’t actually want your home. Banks and other banking institutions are not within the housing market. They have been in the banking and finance industry, and foreclosures are costly and time-consuming for them. Thi

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Thanks to the efforts of the federal government mortgage interest rates are still near historic lows. But over the last week or two rates have begun inching upward again. This may, ironically, be partially due to the positive employment news that has been surfacing recently.

The good news is that rate are only inching higher lately rather than rocketing higher. It is inevitable that we will eventually see 30-year mortgage rates at more than 6% like we saw just a few years ago — it is only a question of how long before that happens. When rates increase like that many people with adjustable rate mortgages will see their payments go up by hundreds of dollars per month. But in the meantime rates are still very low.

If you have an adjustable rate mortgage or if you have a fixed rate mortgage that is higher than you want, contact us in the sidebar right away before interest rates get much higher. O

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