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As the current crisis continues there has been no part of the economy hit as hard as the residential housing market. Real estate prices in many parts of the United States have taken a tumble and many homeowners are fighting to keep up with monthly mortgage payments. The housing problem problem has become so commonplace that many agencies are offering to support the numerous housing loan borrowers here who might lose their houses. There are two main types of programs designed to assist home own

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Random Feed wrote an interesting post today on
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While the final details are still being negotiated, key Democratic senators have reached general consensus on extending and expanding the $8,000 Homebuyers tax credit which has been doggedly pursued by Georgia’s Senator Johnny Isakson. CNBC.com reports: “We’re close, we’re close but I can’t get into any details until it’s a done deal,” said Republican Senator Johnny Isakson. The popular tax credit, which has helped lift the housing market out of its worst slump since the Great Depressio

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Random Feed wrote an interesting post today on
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by Jeff DavisLooks like the housing market hasn’t merely crashed; it is beginning to implode inward on itself. Realtors have coined a new term “Jingle Mail” for all the keys that are mailed back to them when people can’t afford the crushing mortgage payments as their jobs disappear and small businesses fail. The Dayton Daily News reports: “Not only are there no bids in some markets, the accumulation of property taxes means that some properties have negative valuations, like a derivative trade th

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Random Feed wrote an interesting post today on
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I was recently fortunate enough to have the opportunity to interview Dale Siegel, author of The New Rules for Mortgages . We exchanged emails in a Q&A format on the subject of mortgages, the housing market, etc. Here are her responses to my questions. Lending Guidelines Frugal Dad : Lenders used to operate under a 28/36 mortgage-to-income/debt-to-income ratio when calculating maximum mortgage eligibility. How has the housing bubble affected those ratios for lenders? Dale : Len

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Random Feed wrote an interesting post today on
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Everyone’s so anxious to call the “bottom” of the real estate housing crisis. Why? There’s no accolade for being right. It’s not as if we’re going to see a 65 percent surge in housing prices over the next six months (and watch out for that kind of momentum in the stock market - it just feels wrong when the real unemployment rate is approaching 16 percent nationally). All there is at the bottom of the real estate housing market is pain for millions of homeowners who have lost their homes to f

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