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'Our luxury home nightmare'
8/28/2008 5:59:28 AM by adeal
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Garry and Samantha Wallace moved into their "luxury" Dickie Homes apartment at the Redburn Gate development in January last year but claim they quickly discovered major problems with vibrations and shaking coming from the flat above. The couple have continually battled with Dickie Homes to try to so ....(MortgagesInsight.com)
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Home prices are still falling
8/28/2008 5:58:00 AM by adeal
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Home prices in Sarasota-Bradenton pushed back into March 2004 territory last month as the market's traditional summer slowdown was exacerbated by the effects of short sales and foreclosures. The July median sales price was $230,100, down $5,000 from the previous post-boom low set in June and 17 perc ....(MortgagesInsight.com)
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Los Angeles, San Diego Luxury-Home Prices Fall Most in Decade
8/28/2008 5:56:35 AM by adeal
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Luxury-home prices in the Los Angeles and San Diego areas fell the most in more than 10 years in the second quarter as stricter lending terms reduced the number of buyers, while the San Francisco Bay area was little changed. The average price of a luxury home in Los Angeles dropped 3.8 percent in th ....(MortgagesInsight.com)
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Buy-to-let lending slows
8/28/2008 5:01:56 AM by adeal
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The shortage of mortgage funding has limited activity across the mortgage market including the buy-to-let sector, which has a significant number of lenders that rely on wholesale funding. Despite that, the half-yearly decline has been lower than in the wider market, with the number of buy-to-let loa ....(MortgagesInsight.com)
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Older homeowners hording equity billions
8/28/2008 5:00:09 AM by adeal
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Its equity release index, which tracks the amount of equity held in the properties of people aged 65 and over in England and Wales, found that over 40% of equity belongs to those living in London and the South East.The findings reveal that the value of property equity belonging to homeowners aged 65 ....(MortgagesInsight.com)
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House prices continue to slide
8/28/2008 4:58:43 AM by adeal
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The rate of year-on-year annual house price growth declined for the eleventh consecutive month in July.Assetz believes this is a temporary and forced correction in the market caused by lack of mortgage finance, rather than a crash and a general reversal in sentiment on property ownership.(MortgagesInsight.com)
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Unlocking your home equity
8/28/2008 4:56:55 AM by adeal
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The housing rescue package that Congress scrambled to pass in July was aimed primarily at stemming foreclosures and shoring up Fannie Mae and Freddie Mac. But it also contains provisions that make reverse mortgages a better deal for older homeowners who want to turn their equity into cash.(MortgagesInsight.com)
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2M borrowers avoid foreclosure
8/28/2008 4:55:33 AM by adeal
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Hope Now has helped more than 2 million at-risk borrowers stay in their homes during the past 13 months, according to numbers released by the coalition on Wednesday. The alliance of mortgage servicers, counselors, and investors assembled to combat foreclosures fixed more than 192,000 problem loans d ....(MortgagesInsight.com)
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McCain's houses: hard work, or his wife's wealth?
8/28/2008 4:52:03 AM by adeal
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John McCain adviser Carly Fiorina is offering a new defense of the Republican candidate’s ownership of multiple homes , suggesting that it is due to his hard work rather than his wife’s money. McCain’s wife Cindy is a wealthy heiress and the couple own between eight and 11 properties depending on ho ....(MortgagesInsight.com)
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`Liar loans' threaten to extend mortgage woes
8/27/2008 3:07:27 AM by adeal
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In the mortgage industry, they are called "liar loans" — mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job and (no) assets." The nation's struggling housing market, already awash in subprime ....(MortgagesInsight.com)
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