Since the housing market crash of 2008, analysts and lawmakers have been scrambling to diagnose what went wrong, as well as make provisions to avoid another economy-devastating event. One of the most obvious downfalls of the market was a failure to follow strict screening policies for potential homeowners. Loans were frequently issued regardless of evidence […]
The daisies dapple the fields with their vibrant colors. The robins are busy building their nests, preparing for the new additions to their family. The sun drips yellow gold across the landscape. The days are growing longer, and there’s a freshness and sense of rebirth in the air. It’s springtime. And everything is bustling and […]
My wife and I built our home in 2004, at the height of the housing boom. We built as large of a house as we possibly could using creative financing, which included an adjustable rate first mortgage, and an interest-only second mortgage. This wasn’t an ideal situation, but we planned to refinance within a few […]
In response to the Dodd Frank Wall Street Reform and Consumer Protection Act, new mortgage laws will take effect on January 10, 2014. If you’re in the market for a new home, or planning to refinance in 2014, here’s what you need to know. The Qualified Mortgage Rule The Qualified Mortgage rule places new limitations […]
Michael Momany, a homeless Seattle man, recently announced his idea to start “homeless tours” that would give people a three-day experience of living like a homeless person. The cost for such a tour? Two thousand dollars. What’s more, $1,500 of this fee would be Momany’s personal earnings, while only $500 would go towards homeless shelters […]
Your credit score is an important piece of your financial puzzle. Using your credit score, lenders and other financial services providers make decisions about you — from whether to lend you money to what sort of interest rate you’ll get. A low credit score might even cause you to pay a higher security deposit to […]
