May . 17 . 2012 / Thursday :
CNNMoneyBuying a home has reached its most affordable level in more than two decades.
Nearly 78% of homes sold during the first quarter were affordable to those earning the national median income of $65,000, according to a report released Thursday by the National Association of Home Builders and Wells Fargo. Read More… May . 17 . 2012 / Thursday :
CNNMoneyBuying a home just got even cheaper as interest rates on both 30-year and 15-year-fixed-rate mortgages set record lows for the third week in a row.
The 30-year fixed mortgage, the most popular mortgage product, dipped by 0.04 percentage points to 3.79%, according to a weekly survey by Freddie Mac. Last year, 30-year loans averaged 4.64%. The new low can save borrowers $50 a month for every $100,000 borrowed. Over a 30-year term, that comes to $21,874. Read More… May . 17 . 2012 / Thursday :
CNNMoneyForeclosure filings in April fell for the third straight month to the lowest level since July 2007.
Total foreclosure activity for April, including default notices, scheduled auctions and bank repossessions, was down 5% from March, according to RealtyTrac. Read More… May . 15 . 2012 / Tuesday :
CNNMoneyBank of America is offering some struggling homeowners payments of up to $30,000 if they sell their homes in a short sale and avoid ending up in foreclosure.
Under the plan, Bank of America (BAC, Fortune 500) will offer homeowners so-called relocation payments of between $2,500 and $30,000 if they sell their home in a short sale. In short sale deals, the sale price of the home is less than what the seller owes the bank. Read More… May . 11 . 2012 / Friday :
CNNMoneyIt's hard to imagine a less enjoyable way to blow $5,000 to $15,000 (or more) than putting on a new roof.
You'll see your yard saturated with shingle bits and nails (probably leading to a flat tire or two) and have to deal with roofers, some of whom deserve the trade's bad reputation. Read More…