A new year brings a new chance to reach your financial goals
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"The new year gives us all an opportunity to make decisions and take action," said Thomas Murphy, partner and certified financial planner at TEMAA Financial in Dallas. "I suggest 2011 be the year you take control of your finances."
Saturday, January 8, 2011
The Reverse Mortgage Gets a Makeover
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A new type of reverse mortgage is attracting the attention of affluent borrowers. But they need to be aware of the tradeoffs.
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A new type of reverse mortgage is attracting the attention of affluent borrowers. But they need to be aware of the tradeoffs.
Still Renting After All These Years
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The trend toward rentals shows no signs of easing—even among those who could easily afford to buy a home.
For more: http://bit.ly/ezilFs
The trend toward rentals shows no signs of easing—even among those who could easily afford to buy a home.
Resolved: Think Less About Money
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My No. 1 financial goal for 2011 is to stop thinking about money so much. I realize that may sound funny coming from someone who thinks and writes about money for living, so let me explain.
For more: http://nyti.ms/fr6BTV
My No. 1 financial goal for 2011 is to stop thinking about money so much. I realize that may sound funny coming from someone who thinks and writes about money for living, so let me explain.
KB Home Posts a Profit Despite a Decline in Sales
For more: http://nyti.ms/erurLe
KB Home said on Friday that its orders for new homes and its completed sales fell sharply in its fourth quarter.
For more: http://nyti.ms/erurLe
KB Home said on Friday that its orders for new homes and its completed sales fell sharply in its fourth quarter.
Florida Bank Becomes the First Failure of 2011
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Regulators on Friday shuttered a Florida bank, the first closure of 2011 after 157 banks succumbed last year to the struggling economy and mounting bad loans.
For more: http://nyti.ms/fG3c4L
Regulators on Friday shuttered a Florida bank, the first closure of 2011 after 157 banks succumbed last year to the struggling economy and mounting bad loans.
YOUR MONEY: In College, Learning About Money
For more: http://nyti.ms/gVB6cq
One of the more difficult questions of the mortgage collapse was just how much blame individuals should take for signing up for loans they didn’t understand. Yes, many mortgage brokers steered people into harmful products. All sorts of banks, meanwhile, paid the brokers more when they put borrowers into subprime loans, and those same lenders simultaneously abandoned many of their underwriting standards.
For more: http://nyti.ms/gVB6cq
One of the more difficult questions of the mortgage collapse was just how much blame individuals should take for signing up for loans they didn’t understand. Yes, many mortgage brokers steered people into harmful products. All sorts of banks, meanwhile, paid the brokers more when they put borrowers into subprime loans, and those same lenders simultaneously abandoned many of their underwriting standards.
Massachusetts Ruling on Foreclosures Is a Warning to Banks
For more: http://nyti.ms/gQrm5h
Legal experts said that while this ruling did not set a precedent for other states, the outcome will be closely watched across the country because it is the first such ruling from a state’s highest court. Investors viewed the ruling as negative for banks; an index of financial company shares fell almost 1 percent on the day.
For more: http://nyti.ms/gQrm5h
Legal experts said that while this ruling did not set a precedent for other states, the outcome will be closely watched across the country because it is the first such ruling from a state’s highest court. Investors viewed the ruling as negative for banks; an index of financial company shares fell almost 1 percent on the day.
Friday, January 7, 2011
Two Sentenced For Mortgage Fraud
For more: http://bit.ly/htsszJ
Scott M. Gaib, 38, of Lancaster was sentenced to 18 months in prison and his wife, Erica S. Gaib, 37, also of Lancaster, was sentenced to a year and a day in prison for their roles in a mortgage fraud scheme they used to obtain loans in connection with the purchase and refinancing of eight properties in central Ohio
For more: http://bit.ly/htsszJ
Scott M. Gaib, 38, of Lancaster was sentenced to 18 months in prison and his wife, Erica S. Gaib, 37, also of Lancaster, was sentenced to a year and a day in prison for their roles in a mortgage fraud scheme they used to obtain loans in connection with the purchase and refinancing of eight properties in central Ohio
Hiring outlook brightens as layoffs decline
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“The economy is gaining momentum, and the job market, which has been the recovery's caboose, is starting to catch up,” said Zach Pandl, an economist at Nomura Securities.
For more: http://bit.ly/9qWTDa
“The economy is gaining momentum, and the job market, which has been the recovery's caboose, is starting to catch up,” said Zach Pandl, an economist at Nomura Securities.
Thursday, January 6, 2011
At Banks, New Fees Replacing Old Levies
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Banks are looking at new ways to raise fees on basic products like debit cards, cash machines, and checking accounts, as regulations curtail other charges.
For more: http://bit.ly/gVQ0aW
Banks are looking at new ways to raise fees on basic products like debit cards, cash machines, and checking accounts, as regulations curtail other charges.
OPINION: Who Wants a 30-Year Mortgage?
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AS we all move forward with our New Year’s resolutions, it’s a good time to remember the promises our politicians have been making about the American mortgage market. The Obama administration, at a conference last August on the future of housing finance, pledged to have, come January, a plan for Fannie Mae and Freddie Mac, the mortgage giants that are now wards of the government. Congressional Republicans, in their recent position paper, made an even bolder resolution: to build a mortgage market that “does not rely on government guarantees” and “does not make private investors and creditors wealthy while saddling taxpayers with losses.”
For more: http://nyti.ms/f7ziCs
AS we all move forward with our New Year’s resolutions, it’s a good time to remember the promises our politicians have been making about the American mortgage market. The Obama administration, at a conference last August on the future of housing finance, pledged to have, come January, a plan for Fannie Mae and Freddie Mac, the mortgage giants that are now wards of the government. Congressional Republicans, in their recent position paper, made an even bolder resolution: to build a mortgage market that “does not rely on government guarantees” and “does not make private investors and creditors wealthy while saddling taxpayers with losses.”
Wednesday, January 5, 2011
Attorney General Tom Miller Reneges on Promise to Prosecute Mortgage Fraud
For more: http://bit.ly/gEoFt4
The five largest loan servicers, including Bank of America Corp. and JPMorgan Chase & Co., may be the first to settle with the 50 state attorneys general probing foreclosure practices, Iowa Attorney General Tom Miller said…..The group isn’t pursuing a criminal investigation, Miller said. “Our focus is to reform the servicing process and that’s inherently civil, not criminal,” he said.
For more: http://bit.ly/gEoFt4
The five largest loan servicers, including Bank of America Corp. and JPMorgan Chase & Co., may be the first to settle with the 50 state attorneys general probing foreclosure practices, Iowa Attorney General Tom Miller said…..The group isn’t pursuing a criminal investigation, Miller said. “Our focus is to reform the servicing process and that’s inherently civil, not criminal,” he said.
Tuesday, January 4, 2011
Would-be buyers could find it harder to get into a home in 2011
For more: http://bit.ly/ejg6E0
The drumbeat from the housing community was loud and clear in 2010: There was never a better time to buy a home. For most of the past 12 months, home prices tumbled, mortgage rates ticked downward, and the inventory of available traditional and distressed homes was plentiful. But would-be buyers, even if they were able to overcome job worries, found that the hurdles to obtain a loan were formidable. They remained on the sidelines, and housing analysts opined that if the broader economy improved and unemployment fell, pent-up demand would be unleashed, credit guidelines would ease and home sales would improve.
For more: http://bit.ly/ejg6E0
The drumbeat from the housing community was loud and clear in 2010: There was never a better time to buy a home. For most of the past 12 months, home prices tumbled, mortgage rates ticked downward, and the inventory of available traditional and distressed homes was plentiful. But would-be buyers, even if they were able to overcome job worries, found that the hurdles to obtain a loan were formidable. They remained on the sidelines, and housing analysts opined that if the broader economy improved and unemployment fell, pent-up demand would be unleashed, credit guidelines would ease and home sales would improve.
Bank of America braces for WikiLeaks
For more: http://wapo.st/eqFei1
Bank of America does not know for sure that it will be the target of the next data dump from Internet provocateur WikiLeaks. But, in the wake of the site's recent release of State Department cables that embarrassed a number of political leaders, the bank is launching a damage control effort just in case.
For more: http://wapo.st/eqFei1
Bank of America does not know for sure that it will be the target of the next data dump from Internet provocateur WikiLeaks. But, in the wake of the site's recent release of State Department cables that embarrassed a number of political leaders, the bank is launching a damage control effort just in case.
Landlords Upgrade Rent Monitoring
For more: http://bit.ly/e3INyL
Landlords are beginning to act more like airlines—using supply and demand to make quick adjustments to rent prices.
For more: http://bit.ly/e3INyL
Landlords are beginning to act more like airlines—using supply and demand to make quick adjustments to rent prices.
Lenders Shift Some Loan Costs to Big Borrowers
For more: http://bit.ly/eFwivZ
Some banks have begun passing along costs triggered by the Dodd-Frank financial-overhaul law.
For more: http://bit.ly/eFwivZ
Some banks have begun passing along costs triggered by the Dodd-Frank financial-overhaul law.
Bankruptcy Filings Leapt 9% Last Year
For more: http://bit.ly/ewAWPm
The number of Americans filing for personal bankruptcy topped 1.5 million last year, as high long-term jobless rates and depressed home prices drove more households to seek court protection.
For more: http://bit.ly/ewAWPm
The number of Americans filing for personal bankruptcy topped 1.5 million last year, as high long-term jobless rates and depressed home prices drove more households to seek court protection.
Bank of America Buys Back $2.5 Billion in Mortgage Debt
For more: http://nyti.ms/enwXMa
Bank of America announced Monday that it had paid more than $2.5 billion to buy back troubled mortgages and resolve related claims from Fannie Mae and Freddie Mac — deals that may prompt a wave of such settlements by big banks.
For more: http://nyti.ms/enwXMa
Bank of America announced Monday that it had paid more than $2.5 billion to buy back troubled mortgages and resolve related claims from Fannie Mae and Freddie Mac — deals that may prompt a wave of such settlements by big banks.
Ending Federal Subsidies for Mortgages
For more: http://nyti.ms/i2WlcW
Could the government stop subsidizing mortgages altogether? Probably not in real life. But that is where the debate over reforming Fannie Mae and Freddie Mac, as well as righting the public-private sector balance in housing, should begin.
For more: http://nyti.ms/i2WlcW
Could the government stop subsidizing mortgages altogether? Probably not in real life. But that is where the debate over reforming Fannie Mae and Freddie Mac, as well as righting the public-private sector balance in housing, should begin.
Monday, January 3, 2011
A new year brings a new chance to reach your financial goals
For more: http://bit.ly/fnvEB2
What are your financial goals? How will you achieve them? Without this blueprint, you'll be chasing your tail, worrying about which stock or mutual fund to invest in. Having no real plan could result in higher risk than you need, scattered and duplicate investments, and high fees.
For more: http://bit.ly/fnvEB2
What are your financial goals? How will you achieve them? Without this blueprint, you'll be chasing your tail, worrying about which stock or mutual fund to invest in. Having no real plan could result in higher risk than you need, scattered and duplicate investments, and high fees.
Sunday, January 2, 2011
Slow and Steady Saving Still Pays
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The path toward having enough money to enjoy a comfortable retirement is a long one. And as the recent decade in the U.S. stock market shows, it's one where patience pays off.
For more: http://bit.ly/eHAMCd
The path toward having enough money to enjoy a comfortable retirement is a long one. And as the recent decade in the U.S. stock market shows, it's one where patience pays off.
Kentucky tax credit ends for homebuyers
For more: http://bit.ly/9qWTDa
About 2,400 Kentuckians have been approved to claim $5,000 off their state income tax bill for buying a newly constructed home in the last year and a half.
For more: http://bit.ly/9qWTDa
About 2,400 Kentuckians have been approved to claim $5,000 off their state income tax bill for buying a newly constructed home in the last year and a half.
A Little-Known Strategy for Cutting Mortgage Payments
For more: http://nyti.ms/gqCujn
Homeowners looking to lower their monthly mortgage payments and also save some on interest may be able to do so without all the hefty fees and daunting credit requirements of refinancing. A little-known strategy, called “recasting,” or “re-amortization,” is available through some mortgage lenders and servicers.
For more: http://nyti.ms/gqCujn
Homeowners looking to lower their monthly mortgage payments and also save some on interest may be able to do so without all the hefty fees and daunting credit requirements of refinancing. A little-known strategy, called “recasting,” or “re-amortization,” is available through some mortgage lenders and servicers.
Deciding Whether to Buy or Rent
For more: http://nyti.ms/erjauw
IN today’s market, with uncertainty the sole certainty up ahead, the age-old question — rent or buy? — becomes increasingly perplexing.
For more: http://nyti.ms/erjauw
IN today’s market, with uncertainty the sole certainty up ahead, the age-old question — rent or buy? — becomes increasingly perplexing.
SUSTAINABLE MONEY: Why a Budget Is Like a Diet — Ineffective
For more: http://nyti.ms/fTJqC4
What would you do if your wallet became harder to open as your spending approached or exceeded your budget? Would you think twice about where your money was going?
For more: http://nyti.ms/fTJqC4
What would you do if your wallet became harder to open as your spending approached or exceeded your budget? Would you think twice about where your money was going?
OFF THE SHELF: Prosperity, Real or Imagined
For more: http://nyti.ms/evsyUA
The author sees a conflict at the heart of Americans’ attitudes toward money and debt. We tend to view ourselves “as reasonably prudent and sober people,” he writes, while “the choices we make at the ballot box seem to be at odds with that self-image.”
For more: http://nyti.ms/evsyUA
The author sees a conflict at the heart of Americans’ attitudes toward money and debt. We tend to view ourselves “as reasonably prudent and sober people,” he writes, while “the choices we make at the ballot box seem to be at odds with that self-image.”
Real Estate Developers Prosper Despite Defaults
For more: http://nyti.ms/eLGe1s
Hedge funds and private equity funds are still offering backing for deals, believing that the real estate market will warm up again this year. There are also new investors looking to get into real estate, including funds based in China, and Norwegian pension funds.
For more: http://nyti.ms/eLGe1s
Hedge funds and private equity funds are still offering backing for deals, believing that the real estate market will warm up again this year. There are also new investors looking to get into real estate, including funds based in China, and Norwegian pension funds.
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