For a long time, we have thought of home ownership as part of the American Dream. You could own your own little patch of ground, and make it your own. However, things may be changing. Home ownership may no longer be considered a huge part of the American Dream. Indeed, some may prefer to rent.>>> [Read More]
Category Archives: Real Estate
Could Foreclosure Be a Smart Financial Move?
Ever since the subprime lending market began its decline about three years ago (there were strident warnings about subprime in 2007, a full year before the global financial crisis) there has been something of a debate surrounding whether or not foreclosure might actually be a smart financial move in some situations. There is even a name for a foreclosure done on purpose: “strategic default.” There are, of course, issues surrounding the idea of strategic default, and anyone deciding that foreclosure is the smart play will have to work through those issues.>>> [Read More]
What To Do If You’re Underwater on Your Mortgage
The falling home values that came with the mortgage market crash and recession have resulted in a number of homes showing negative equity. These underwater mortgages could possibly put a strain on the economy if they result in foreclosure. However, it is not a foregone conclusion that foreclosure will result when you have negative equity.>>> [Read More]
Buying a Home: Lower Price vs. Higher Interest Rate
There is a lot of talk right now about how now is a good time to buy a home. If you hurry, you might be able to squeeze in a home buyer tax credit. You have to have a home under contract by April 30, though. And you have to be or first time home buyer, or you have lived in your home for five of the last eight years to qualify. Since I don’t fit either requirement, I’m in no hurry to rush into getting something that I might not really want. But my husband and I are looking — tentatively — for a new home. We’ve been in this one for three years, and with my husband finishing his Ph.D., we might look for an “upgrade” if he gets a job in this area.>>> [Read More]
