News about properties and real estate
Consider these factors before refinancing your home Dear Liz: When does it make sense to refinance a home? I have a 30-year, fixed-rate jumbo loan. The loan is just over 2 years old with a rate of 6.5%. Should I refinance to 5.75% with zero points? I make extra payments every month with the intention …
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Mortgage modifications are becoming more common, and more lenient Banks and mortgage companies have foreclosed on 5,000 residential properties in the St. Louis region so far this year. But a growing number of homeowners are managing to save their houses by convincing lenders to cut their monthly payments. Borrowers just shouldn’t expect an easy time. …
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Foreclosure properties worth a look [Florida] People wanting to buy homes in Charlotte County are looking in all the usual places — and then some. Many of the county’s foreclosure properties on the Multiple Listing Service have become places where home seekers turn. There are certainly enough of them to see. As of Monday, Port …
Buy a house, get a check If you’re thinking of buying a house, run, don’t walk, to the nearest real estate office. Time is running out for first-time homebuyers to get an $8,000 tax credit. “We’re seeing closings take 30 to 45 days, so they’d better do it right now,” advised EiIeen Mikulecky, a Keller …
South Florida homeowners walking away from underwater mortgages Many South Florida homeowners who can afford to make their mortgage payments are choosing not to, forcing the lender to foreclose. It’s called strategic default. Andres Duque thought he got a real steal when he paid $125,000 for his Little Haiti condo. But four years later, similar …
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Personal finance: What if you don’t pay the mortgage? We all talk about what ifs. One big what if that many South Florida homeowners have today has to do with mortgages. About one-third of South Florida mortgages are underwater, meaning the homeowners owe more than the home is worth at today’s depressed prices, according to …
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