If you know a senior homeowner who is running out of money, a reverse mortgage might generate enough cash to allow them to stay in their home for many more years. Last fall, the Federal Housing Administration created new rules, and opportunities, for lower-cost reverse mortgages. Now that most lenders have launched these new products, it's worth an updated look.
NEW YORK (AP) - For banks, mortgage-making kept profits humming before the financial crisis, then blackened reputations and stamped out earnings when the crisis hit.
SAN DIEGO (AP) - Home foreclosure activity in California fell to a new five-year low in the third quarter as rising prices eased pressure on homeowners and lenders, a research firm said Wednesday.
DEAR BENNY: For the life of me I cannot fathom why all real estate people insist borrowers keep a mortgage going. My husband and I bought our house and paid it off in five years. Now, instead of getting a deduction off our taxes, we have our paychecks free and clear. I cannot see how paying $1,000 a month for 30 years would have been better. With that money in pocket we amassed nearly $1 million in savings. Here is what it allowed us to do:
WASHINGTON (AP) - The average U.S. rate on a 30-year fixed mortgage has fallen to near its record low set earlier this month.
LOS ANGELES (AP) - Confidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders' communities.
When you finally tackle that home improvement project you've been planning for a while, you're probably eager to get the job done quickly, well and on-budget. Injuries can delay your project, and cost money for medical expenses or even time lost from your job. It's important to take steps to prevent injury.
It's easy to instantly trim your energy consumption and boost the eco-friendliness of your home. The key to easy energy savings is lighting. Though for many homeowners and renters, knowing how and what to do to improve their home's lighting energy efficiency can be confusing.
Gas prices - which appear to be heading toward $5 a gallon -may be a wild card in the Manteca housing market recovery but not in the way you might think.
For a basic green living project with benefits to your wallet and the environment, consider revamping the kitchen pantry. The cupboard is the starting point for most kitchen activity and is more than just a storage space. Develop good buying habits and build a strong foundation and you can avoid the waste of food and money. Here's how to tackle the task at once or little by little.
Everyone wants an immaculate home, but not everyone wants to spend their free time scrubbing and straightening. The reality revealed in a recent Good Housekeeping magazine study is that the average homeowner spends roughly 19 hours a week cleaning.
Terry, please answer this question for me: Why shouldn't I just walk away from my mortgage?
DEAR BENNY: If damage to an individual unit is from a common-area element and was caused by negligence, and the condo documents as I understand them state that the damage to the unit involved is the responsibility of the condominium owners association, should that not then be covered by the master policy? Also, what is an HO-6 policy? --Lois
The holiday season doesn't have to always involve the same old, same old when it comes to decorating your home.
WASHINGTON (AP) - Average U.S. rates on fixed mortgages ticked up from record lows last week. Cheaper mortgages are fueling a modest housing recovery that could help the broader economy.
WASHINGTON (AP) - A sharply divided Supreme Court on Thursday preserved a key tool used for more than four decades to fight housing discrimination, handing a surprising victory to the Obama administration and civil rights activists.
The Manteca City Council has launched the HERO Property assessed Clean Energy (PACE) Program.
WASHINGTON (AP) - Home rental prices are climbing across much of the United States - with the biggest gains coming from not from New York or San Francisco but Jackson, Mississippi, and Portland, Maine.
For homeowners who enjoy spending time outside, the doorway is an important architectural element that blends style and function to connect indoor and outdoor spaces.
Q: What is your opinion about a reverse mortgage? We are in our late 60s, have a small savings and an acceptable pension. Our home is free and clear and is worth approximately $400,000. We have seen some famous people raving about the concept on television, but we have some concerns whether this is right for us. Clara.
Hey Real Estate Boys; We read your article last week on the water situation here in the Valley. While I agree with you that it's not a government conspiracy, there really is a drought and we all need to be aware of wasting water. I do take offense that farmers seem to feel they are entitled to just open gates and flood their fields and not cut back like the government is asking of us. If I read correctly, we've been asked to cut back 30% maybe more, maybe a little less. As I drive around I see ...
WASHINGTON (AP) - Average long-term U.S. mortgage rates were mixed this week, marking slight increases or declines but remaining close to high levels for the year.
Renovating a house can be a tough job. With so many details to consider, just knowing where to begin can be a challenge. But one consideration homeowners shouldn't skip is safety.
By DENNIS WYATT
Here's an interesting tidbit: Fifty percent of the home buyers at River Islands at Lathrop are coming from Mountain House and Tracy,
Hardwood flooring brings enduring beauty, charm and value to a home. Not content to keep a good thing underfoot, inspired homeowners are now finding new and creative locations to use it for a dramatic effect.
One of the largest contributors to a home's energy efficiency is its windows. Energy-efficient windows can lower your energy costs and increase your home's comfort while reducing your carbon footprint and increasing your home's value.
IRVINE (AP) - California home sales continued their year-over-year rise last month as the state recovers from its housing slump. The median price of homes hit $401,000 statewide and $650,000 in the San Francisco Bay Area, a real estate research firm reported Thursday.
When remodeling your kitchen, it can be tricky to know where to start. Certified Kitchen Designer MaryJo Camp has been there, in more ways than one. As a designer certified by the National Kitchen and Bath Association (NKBA), Camp has designed thousands of kitchens in her 35-year career – including her own. With a newfound personal understanding of remodeling challenges, Camp has pulled together her top tips for a successful kitchen revamp.
WASHINGTON (AP) - Average long-term U.S. mortgage rates eased this week after hitting their highest levels this year in the previous week.