Interesting Housing News Links (March 30, 2009)

* AP Enterprise: Few in flood zone have insurance (Tammy Webber, Tri-City Herald)

As the Red River crept within view of their backyard this past week, Denette and Billy Narum had an extra incentive to pray their sandbags held. Like most people in the path of potential floods, they have no flood insurance.

* Mesa County foreclosures increase again (Marija B. Vader, Grand Junction Free Press)

Colo. The number of foreclosures in Mesa County climbed an additional 20 percent over the same period last year.

* Will you have cash after the closing? (Bob Kieber, Summit Daily News)

When a buyer plans on the purchase of a home, whether it is a primary home, a vacation home or an investment property, they tend to forget one thing in their figures, that is a Reserve. The buyer works with the real estate agent on the price and the mortgage professional on the mortgage program and interest rate, plus the down payment needed and the costs involved for the closing but most buyer…

* Harlem Tenants Face Changing Douglass Circle (Zack Hoopes, Columbia Daily Spectator)

In the late 1980s and early 1990s, toward the end of the citys darker ages, he and many others bought the run-down lots and crumbling brownstones of Harlem. The properties were kept in their dilapidated condition, and since few wanted to move into a neighborhood rife with drugs and crime, reconstruction garnered little profit. The city eventually bought many of the properties and resold them f…

* Got an ARM? Now might be the time to refinance (Connie Thompson, KPIC)

The Federal Reserve just threw more than a trillion dollars at the housing market, and now we’re looking at some of the lowest mortgage rates in years.

* The top 10 questions about loan modifications (Paul Clement, Grand Junction Free Press)

For many people trying to avoid foreclosure, the process of renegotiating their loan can be difficult to understand. If you are considering contacting your lender to try and arrange for a loan modification in order to avoid foreclosure, ensure that you are adequately prepared and able to present your case in the best possible light by getting as much information upfront as you can. I have compi…

* Germany to Take Hypo RE Stake (Ulrike Dauer, Barron’s)

–Troubled mortgage financier Hypo Real Estate Holding AG Saturday said its supervisory board and the German government agreed on a further capital boost by the government aimed to achieve sufficient recapitalization of Hypo RE, with the government taking an initial 8.7% stake. in Hypo RE.

* Affordable housing is long-term solution (Sister Libby Fernandez, Sacramento Bee)

The daily work we do at Loaves & Fishes goes largely unnoticed other than by our guests the hundreds of homeless men, women and children who come for hot meals, showers, shelter and the welcoming embrace of community. Cars zip by on 12th Street, but rarely does anyone other than a dedicated volunteer drive far enough up North C Street to see the cluster of greenery and buildings where our wor…

* Should You Pay Off Your Mortgage? (Joyce Nenninger, Summit Daily News)

Question: We are in the fortunate position to be able to consider paying off our home loan early. What are advisors saying about doing this in todays economy?

* How to choose the right home inspector (Rick Thurtle, Grand Junction Free Press)

There are many variables at play during a real estate purchase; so when you have the chance to control one of those factors, it can be very appealing. That may be one of the reasons most buyers choose to lock in their mortgage rate.


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