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Archive for March, 2014

Subprime mortgages are back, but is that a good thing?

Subprime mortgages are back, but is that a good thing?

Subprime loans seen today are very different from their cousins from 2000 through 2008. Under Dodd-Frank, lenders must show that borrowers have the ability to repay their loans, an absolutely obvious standard but one which was too often abandoned during the go-go mortgage era, a time infested with no-doc loan applications, subprime mortgages with prepayment […]

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Real Estate: How Down Payment Gifts Really Work

Real Estate: How Down Payment Gifts Really Work

If coming up with a down payment on your own is a bit of a stretch, you may be able to buy a home using gift funds for the down payment. Gifts can be perfectly acceptable under the lending guidelines for most types of mortgage financing available today, but it’s super important that they are […]

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Zombie Foreclosures Fill US Neighborhoods

Zombie Foreclosures Fill US Neighborhoods

Zombie foreclosures and vampire real estate are clogging America’s neighborhoods. Look around and you can see such homes just about everywhere. According to RealtyTrac, there were 152,033 zombie foreclosures lurking in cities and suburbs as of the first quarter of 2014. Zombie foreclosures are properties which are in the foreclosure process but not yet foreclosed. […]

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Real Estate: Why Are New Homes So Damn Big?

Real Estate: Why Are New Homes So Damn Big?

Big homes have been in the news lately. On one side we have Viktor Yanukovych, the former Ukrainian president, who managed to acquire a mammoth palace clad almost entirely in marble all while earning $50,000 a year. You have to wonder how Mrs. Yanukovych had time to dust such real estate, maybe the in-laws stopped by […]

Posted in: News