In spite of the mild economic recovery we’re experiencing, the percentage of homeowners who are underwater on their mortgages — that is, they owe more than their homes are worth — has barely budged.
Mortgages
Fannie and Freddie Fact vs. Fiction: What Will the Wind-Down Do?
Fannie Mae and Freddie Mac — just the companies’ names sound like characters out of a Brothers Grimm fable. But their financials from the last few years read like something from Stephen King. Here’s a look at what will and …
Should Housing Data Affect Your Stance on Homeownership?
The media is abuzz with analysis of the latest housing data. Many outlets are running with the “housing tanks” headline, Slate pondered the benefits of renting’s increasing popularity, and our own bleary-eyed real estate guru Ali …
The State of the Economy, Investing, Housing, and Brazilian Bikini Waxes
Among other surprising factoids, 44% of Americans say they'll never put money in the stock market again.
Who You Calling a Deadbeat?
Turns out that all mortgage defaulters are not created equal.
Poking Holes in The Depressing Housing Data
When the March Case-Shiller housing price data came out on Tuesday showing that prices in 19 of the 20 cities in the index had fallen, the news was unwelcome, to say the least.
Post-Recession Lingo: Need-to-Know Phrases for Today’s Consumers
Adding to the list of post-recession terms such as “unbanked” (individuals without checking or savings accounts), “anti-dowry” (student loan debt holding you back from getting married or buying a house), and “Groupon remorse” …
Survey: More Americans OK with Mortgage Default, Likely to Be “One Flat Tire Away from Financial Disaster”
In a new survey, more than one-third of adults say they are now saving less than last year, and 33% have no emergency savings whatsoever. The numbers get scarier for African Americans and Hispanics: 54% and 47%, respectively, report no rainy-day savings and are “one flat tire away from financial disaster,” says the survey’s spokesperson.
Wanna Buy a House with No Money Down? Not Gonna Happen
If you want to buy a house anytime soon, you better start saving—immediately, and in large quantities. Toward the end of 2010, the median down payment on homes bought with conventional mortgages was 22% in a sampling of major U.S. cities, up from as low as 4% in the fourth quarter of 2006.
Shout Out: ‘Learning to Walk: Fear, Shame, and Your Underwater Mortgage’
If you’ve been following the underwater mortgage epidemic and the related debate concerning to default or not to default, here’s an epic must-read that’s nearly 5,000 words long—and that has attracted well over 3,000 reader comments.
223 Tips: Snag Freebies, Save Money, Salvage Food About to Spoil, Get Your Adult Kid Out of the House, and More
This week’s links cover topics ranging from school fundraisers that aren’t worth your time (and don’t raise much money), to resources for finding the best Black Friday deals, to effective, low-effort, low-cost ways to clean the bathroom.
The Good News If Mortgage Lenders Are After You
“The banks have been servicing mortgages and chasing delinquents with the same carelessness and indifference to due process that they demonstrated when they underwrote and securitized the mortgages in the first place.”