Posted February 20, 2009 - 23:19 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
A few weeks ago I wrote an article about checking your mortgage statement, and interestingly enough my family was recently confronted with an erroneous mortgage statement. This is the story of how Countrywide tried to steal my parents' money. Additionally, I will give you some related information on the unscrupulous practice known as mortgage servicing fraud.
full story
Posted February 18, 2009 - 23:13 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
Today President Obama announced a new $75 billion Homeowner Affordability and Stability Plan to the world. It is touted as a plan that helps responsible homeowners who have not yet missed payments. However, will it really reward responsibility? Lets take a quick look at what is in the plan.
full story
Posted January 28, 2009 - 16:02 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
This week the Federal Trade Commission sent out around $28 million in redress checks to more than 86,000 customers of Bear Stearns and EMC Mortgage Corporation. Apparently EMC Mortgage engaged in a flurry of unlawful practices such as misrepresenting mortgage amounts owed, charging unauthorized fees, and engaging in abusive collection practices. This is obviously a case of a dishonest company, but I am sure some customers were defrauded without even realizing it because they trusted the statements they received. This is a guide to how you can double check that the mortgage statement you receive is accurate.
full story
Posted January 26, 2009 - 07:31 by Philip Brewer
Real Estate and Housing
Of all the changes you might make to live more cheaply, the most fundamental is finding a cheaper place to live. Sadly, it's an option that's largely closed off to people who are underwater on their mortgages. Unless they have cash to cover the difference between what their house will sell for and what they owe, they're pretty much stuck. Here are six options for people in that situation.
full story
Posted January 20, 2009 - 01:56 by Philip Brewer
Real Estate and Housing
Any institution that wants to fund mortgages has a problem. They want to lend the money out for thirty years, but the money they have to lend comes from deposits that can be withdrawn by the depositors at any time. Banks have come up with three bad ways to work around that problem. It turns out, though, that the Danes have come up with what may be a good way.
full story
Posted January 19, 2009 - 13:39 by Xin Lu
Personal Finance, Investment, Real Estate and Housing, Food and Drink, Lifestyle
Recently I read an enlightening story in the New York Times about the Pu'er tea bubble in Yunan, China. The burgundy fermented teas fetched prices of $150 a pound at the peak, but now sells for less than a tenth of those prices. I have actually been to one of those tea houses in Yunan, and I have also seen the rise and burst of the housing bubble in America. These experiences make me think that there is a certain formula to creating a speculative bubble out of anything, and here is what I have gathered.
full story
Posted January 9, 2009 - 07:41 by Julie Rains
Taxes, Real Estate and Housing, Investment
The borrow-at-a-low-interest-rate-and-invest-to-get-greater-returns mentality was so embedded in our belief system that there almost seemed to be a stigma attached to not carrying a mortgage balance forever. Some financial experts indicated that the early mortgage payoff had merely a psychological benefit but no clear financial benefit or worse, a financial disadvantage. I won't tell you what to do because personal financial circumstances vary, and vary greatly over the life of a 15-year or 30-year mortgage. But I'll tell you what some of these experts were thinking and what they forgot to mention when it comes to paying off the mortgage.
full story
Posted January 5, 2009 - 11:17 by Paul Michael
Real Estate and Housing, Consumer Affairs
It seems like new variations of the Nigerian 419 scam pop up every week. The one that caught my attention recently involved renting a home, and it’s a nasty trick that could take anyone by surprise. But if you know what to look for, you can avoid it.
full story
Posted December 15, 2008 - 12:53 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
Lately many tenants across the United States who faithfully paid their rents on time were surprised to find eviction notices tacked on their doors because their landlords have not been paying the mortgage. Other tenants are receiving "cash for keys" offers from the banks that reposessed the homes. If you are a renter, here are some precautions you can take to make sure you do not face an unexpected foreclosure related eviction and some tips on what to do if your landlord is losing the home you live in.
full story
Posted December 4, 2008 - 11:44 by Xin Lu
Personal Finance, Real Estate and Housing, Consumer Affairs
It seems like everyday the folks in Washington are rolling out a new plan to fix our economy. The Federal Reserve is running out of room to cut their federal funds rate, so now the news reports that the Treasury is planning to forcibly cut mortgage interest rates to 4.5% on new mortgages. The details about the plan still remains unclear, but will this boost the sagging housing market? Also, how could this help you as a consumer?
full story
Subscribe to all Wise Bread articles
Subscribe
All comments