How much did you pay last time for the property tax? Ok, fine. Are you ready to pay for this year. You are ready! Ok, fine. But how much do you may need to pay this year? How much percent increase may be there this year? It may double this year from the previous one. Yes, it may.

The property taxes are rising steeply. You need to pay almost triple of the amount you paid two years back. The home prices and the taxes went up with the housing boom, but it did not come down with the reducing home […] Continue Reading…

When you are looking for a home, you may need to spend lot of your time, energy and off course money. In general your home search medium are many and they yield results, but there are some unique ways to find a home you want.

1. You may find a MySpace page for a home or a condomimium. Yes, you may. A condominium in Brooklyn has a MySpace page.
2. You may find blogs for different types of homes. You will find information about them and their constructions. Some of them start with the starting of the construction and finish up […] Continue Reading…

Foreclosures leap 68% from a year ago even after decline in the rate.

Foreclosure filing came down in November. This was the biggest decline in foreclosure filing since April ’06. The drop was of double digit.  The drop is around 10 percent in comparison to the filings in October.

Dropping home prices may become a cause of concern for you as a home owner. As the prices go down, the foreclosure rate tends to increase. As prices go down, you will have tough time cashing on your home equity, in case of foreclosure.  So such a situations will lead to more […] Continue Reading…

1. Don’t ignore – Never ignore the problem of foreclosure. If you postpone your foreclosure problem, then in future it will become big enough to handle.

2. Contact your lender- Contact your lender if you find or think any problem in your mortgage. Lenders are ready to help you, just approach them.

3. Respond to your lender-  When your lender sends you a mail or a letter, respond to that. Find out the situation and then reply to the mail or the letter. You will find the information in the mail and letters. It will keep you updated.

4. Know your rights- You have some rights […] Continue Reading…

The central bank is focusing on better regulations to protect the home buyers. This move is to curtail the bad lending system. Federal Reserve has proposed a new set of regulation which will be much stricter on the part of the lenders.

Public comment is possible for 90 days. After review of the comments, the final rules will roll out of Fed’s factory.

Fed has proposed rules for both subprime loans and all types of mortgages. Higher-priced mortgage loans will come under these rules as well. (Higher-priced mortgage are those loans which has an interest rate 3 percent higher than the […] Continue Reading…