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Obama is pumping money into states hit the hardest by the mortgage crisis. The Los Angeles Times reports: “Under the new policy, $1.5 billion that had been reserved for the bank bailout will be rerouted to five states that have seen housing prices drop more than 20% since 2006: Nevada, California, Michigan, Florida and Arizona. The money [...] [...more]
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A lot of people can’t qualify for a traditional home loan in the current market, but that’s not stopping them from seeking creative financing strategies. The $8,000 first-time home buyer incentive and declining home values are making some people consider purchasing property while others are struggling to get out of upside-down loans. Credit.com points out the [...] [...more]
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Due to the tightening credit market, many experts believe that seller financing will make a major comeback this year. Akron Ohio News reports: “Creative financing’ is one of the items that is ‘in’ for 2009, according to an annual survey conducted by Mark Nash, a Coldwell Banker broker and real estate author who uses a network of [...] [...more]
