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Market Turn Around

Date: 08/01/2007 / Category: Finance & Credit , Current Grade A+

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Some Hard-Hit Cities See Signs
Of a Housing Market Turnaround
Tighter credit is prolonging a deep slump in home sales, but a quarterly Wall Street Journal survey of 28 major metro areas shows that the surge in inventories of unsold homes is slowing. In two of those markets -- Boston and Denver -- the number listed for sale has actually declined from a year ago.

Related Link

Use our interactive chart to track fundamentals in 28 real-estate markets.

The latest trends offer some hope for an eventual recovery in a U.S. housing market that generally has... continue reading >>

NEWS TODAY !!!

Date: 07/26/2007 / Category: Finance & Credit , Current Grade A

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Wells Fargo to close subprime wholesale lending business By Gabriel Madway Last Update: 12:29 PM ET Jul 26, 2007
SAN FRANCISCO (MarketWatch) -- Wells Fargo & Co.'s (WFC : Wells Fargo & Company Last: 33.90-0.68-1.97%
12:38pm 07/26/2007

Wells Fargo Home Mortgage said Thursday it will close its nonprime wholesale lending business, which processes and funds subprime loans for third-party mortgage brokers. In 2006, the business represented 1.6% of Wells Fargo's total residential mortgage loan volume of $397.6 billion. "Wells Fargo will continue to offer nonprime loans in channels where the company has direct relationships with consumers"... continue reading >>

THOUGHT YOU'D WANNA KNOW

Date: 07/25/2007 / Category: Finance & Credit , Current Grade A+

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What expenses related to owning a home are deductible?

First, mortgage interest on loans up to $1 million is completely deductible for the year in which you pay it to buy, build or improve your principal residence plus a second home. You can also deduct points you pay to refinance your home - over the life of the loan. You can deduct points paid when you purchase your home in the year paid, no matter who pays them, the buyer or the seller.

When you sell your home, you probably won’t need to worry about capital gains... continue reading >>

Buzzards Beware!!!

Date: 07/25/2007 / Category: Finance & Credit , Current Grade A+

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The home-loan industry, facing the worst housing downturn since the early 1990s, is ramping up efforts to help strapped borrowers stay in their homes.

The goal is to restrain a gathering wave of foreclosures that carries big costs for both lenders and borrowers.

These rescue efforts aren't expected to save every at-risk homeowner. But they promise to reduce monthly payments for many who have fallen behind on mortgages. In the process, they could help to stabilize a struggling real estate market.

So far the housing slump, precipitated in part by overzealous borrowing and subprime lending, continues its downward... continue reading >>

The Sub-Prime Answer

Date: 04/13/2007 / Category: Finance & Credit , Current Grade A-

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Dear Group,

I have been reading and hearing all of these tales of whoa! When the Real Estate Market turned soft. Of Course someone had to be the lamb of sacrifice "SUB-PRIME LENDING" & "CREATIVE REAL ESTATE"

What exactly is going on, and what does it mean to you?

A "subprime" home loan is a loan where the client has some significant
credit issues, or was otherwise unable to qualify for a standard,
conventional loan. Due to the fact that these loans tend to be quite risky
for the lender...they also bear higher interest... continue reading >>
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