States With the Longest Foreclosure Processes
January 7, 2011 by Melodye · Leave a Comment
Once a home owner falls into foreclosure, the eviction doesn’t happen right away — in fact, it may take years before delinquent borrowers finally have to turn over their keys.
Data by LPS Applied Analytics shows that New York holds the longest average in the nation–mortgage loans in the foreclosure process in New York have been [...]
Foreclosures Reach Record Highs in 2010
January 6, 2011 by Melodye · Leave a Comment
Foreclosures were big in 2010 and buyers eager to own them came out in record numbers, Foreclosure Deals, a news source, reports.
Experts are expecting foreclosures to climb even higher in 2011.
“We saw a lot more repossessions, but we also saw record numbers of home buyers at foreclosure sales,” said James Foxx, business analyst for Foreclosure [...]
4 Fading Fads That You Won’t See in 2011
January 6, 2011 by Melodye · Leave a Comment
By Melissa Dittmann Tracey, REALTOR® Magazine
We keep hearing about what’s popular in 2011 for home design — but how about what’s not? Builder Magazine writer Jenny Sullivan asked industry experts to weigh in on design fads that you won’t likely see in the new year. Here are some of the fading home trends experts mentioned:
1. [...]
‘Secret’ Way to Lower Mortgage Payments
January 6, 2011 by Melodye · Leave a Comment
‘Secret’ Way to Lower Mortgage Payments
Home owners can trim their monthly mortgage payments by “recasting” or “re-amortizing” their loan, without having to refinance and face hefty closing cost fees, experts say.
When recasting, the borrower pays off a lump sum of the loan’s principal and then resets monthly payments at the loan’s original interest rate and [...]
Existing Home Sales Rise 5.6%
December 22, 2010 by Melodye · Leave a Comment
NAR: Existing-Home Sales Rise 5.6%
Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 5.6 percent to a seasonally adjusted annual rate of 4.68 million in November [...]
Home Modifications for Boomers Are Booming
December 22, 2010 by Melodye · Leave a Comment
Home Modifications for Boomers Are Booming
A survey by AARP earlier this year found that 33 percent of adults older than 45 have modified their homes to allow them to age comfortably in place.
Aging-in-place modifications can include:
· Decorative grab bars in showers
· Step-free entrances
· Levered door handles
· Raised electrical outlets
· Bathrooms that can accommodate wheelchairs
· Widened [...]
Home Trends
December 22, 2010 by Melodye · Leave a Comment
So what does 2011 hold for home decor? Expect lots of 2011 forecasts in the coming weeks. Here are highlights from a recent article in which design experts chime in what they expect to see popular in home design in the New Year.
1. Old is ‘New’
Vintage is to be hot in 2011. Period pieces that [...]
5 Steps to Remodeling Done Right
October 26, 2010 by Melodye · Leave a Comment
5 Steps to Remodeling Done Right
Here are five steps to developing a great relationship with a remodeling contractor.
1. Let the contractor know if you are ready to remodel or just kicking the tires. Gary Palmer, a Charlotte, N.C.-based general contractor, says seeking multiple bids is fine, but don’t waste his or her time by letting [...]
White Can Be the Key to a Dramatic Room
September 21, 2010 by Melodye · Leave a Comment
Interior designer Vicente Wolf’s new book, Lifting the Curtain on Design, says simply, “White can do everything. Painting a room white simplifies the environment. It brings it to its essence.”
Wolf, who has spent most of his career trying to expand small places in New York City, relies on white strategically throughout an apartment. His approach [...]
Are Cramdowns the Answer to Underwater Properties?
September 21, 2010 by Melodye · Leave a Comment
The rising number of home repossessions could encourage Congress to pass cramdown legislation, something lenders fought vigorously and prevailed against when bankruptcy laws were reformed.
But the cramdown concept has been working successfully in Chapter 12 of the bankruptcy code, which affects farmland.
Cramdowns, or more properly “bifurcation,” divide the value of the debt between that which [...]
