Monday, April 14, 2008
Tuesday, April 01, 2008
The U.S. Senate is scheduled to vote April 1 on a Democratic foreclosure relief bill that would provide $4 billion to communities to purchase foreclosed homes, increase disclosure requirements for subprime mortgage loans, and pay for debt counselors so homeowners can negotiate with lenders.
However, Republicans are likely to oppose the bill if it includes a provision to rewrite the bankruptcy code to allow judges to cut interest rates and reduce what borrowers owe on their home loans, which they say would limit what lenders can make on loans.
Democrats say the Federal Reserve recently came to the aid of Bear Stearns, in guaranteeing questionable mortgage-backed investments among other assets, and now something should be done for homeowners.
"The federal government has provided assistance to Wall Street, now Congress must turn its attention to Main Street," insists Senate Majority Leader Harry Reid (D-Nev.).
Source: Associated Press, Andrew Taylor (04/01/08)
Friday, March 07, 2008
Thursday, March 06, 2008
Florida, by far, leads the U.S. market, accounting for an estimated 26 percent of all foreign purchases for the year period that ended in April 2007, the National Association of Realtors reports. Within the state, Miami and Fort Lauderdale are the top markets.
Saturday, February 02, 2008
Chastened and now cautious lenders are demanding much bigger down payments to shield against losses in the South Florida market.
Wednesday, January 30, 2008
Thought you were covered by your landlord's insurance? Think again. You'll need renters insurance to protect your belongings from perils including theft, vandalism, fire and falling objects.
If you're in danger of falling behind on your mortgage, or if you're already delinquent, it's important to know what's ahead and what your options are. Usually, the faster you move, the more choices you'll have about your financial future. Read the whole story.