Give Your Home Curb Appeal

For home sellers, how attractive their house appears from a street view is an important component for standing out from the competition. The power of curb appeal cannot be under estimated as that first peek at a home can encourage potential buyers to start immediately thinking about their mortgage needs versus packing up quickly and checking out the next multiple listings service property on their list.

How To Overcome Mortgage Rejection

According to the latest data from the Federal Reserve, approximately 25 percent of all mortgage applicants are rejected from the process.  If you are one of them, there are some strategies you can implement to ensure future home loan approval and your pursuit of the American Dream.

Bidding War Strategies

When General William T. Sherman infamously stated, "War is Hell," he was not referring to bidding battles for homes and properties; nonetheless, the sentiment applies. There is no buzz kill quite like the one associated with losing a dream home due to a poor strategy surrounding a bidding war for a condo, coop or single family detached.

Prep to Rent Your Home

Courtesy of the topsy-turvy real estate market, property owners are becoming landlords as a way to avoid foreclosure. Individuals who to become landlords need to take extra precaution to ensure that their role as lease granter goes off without a hitch.

2011 Home Buying Trends

Despite the Mayan calendar potentially showing the end of the world on December 21, 2012, Americans are still committed to buying homes in 2011. March 2011 information has shown that activity in the new home sector jumped by 11 percent and generally speaking, industry insiders have been optimistic in regards to the spring selling season (HousingWire.com). Despite the marked uptick, the homes that have been constructed to save consumers' money are the ones garnering the most activity.

The Upside To the Mortgage Meltdown

The mortgage meltdown triggered off an unfortunate chain reaction that has led America to the brink of financial ruin. Despite the negative impact the subprime loan crisis has had on the nation's economy, job market and real estate industry, the situation has had some unseeingly positive effects as well, especially for individuals who believe in viewing a glass as half full.

Home Listing Mistakes to Avoid

In a real estate market brimming with competition courtesy real estate owned (REO) properties, private sellers have the burden of making their property stand above the rest. The marketing tool of a home listing is the most important component in regards to home selling tools. Sellers need to get the information right the first time to attract buyers, increase the odds of sealing the deal and encourage buyers to secure a mortgage for the property in question.

There Goes The Neighborhood

Home ownership should no longer be considered an investment, but a commitment that will allow individuals to plant roots and grow along with their community at large. With the new perspective on home buying, consumers need to take their time picking out their neighborhood as one false move from nearby residents can end up dragging home values down.

Short Sale Time Saving Bill Introduced

Short sales transactions require borrower and lender working together to sell the home for less than the total amount due on a home loan as a way for both parties to avoid the tiresome process of foreclosure. A bipartisan bill was just introduced to the House of Representatives to dramatically speed up the process.

Jumbo Mortgages Can Finance "90210" Living

Television drama Beverly Hills, 90210 was a huge success, that allowed some cast members and crew to finance the purchase of luxury properties. Some of the real homes are currently listed for sale and interested buyers will need a jumbo mortgage and substantial down payment to finance the purchase.

Home Ownership No Longer Considered a Safe Investment

Owning a home used to be the surest path for individuals to build wealth, however courtesy of the real estate fiasco plaguing the nation, less than two in three Americans now believe that is true. The Federal Reserve Board  has stated that once equity has been established, a home owner’s net worth is 46 times that of a renter’s. Despite that fact, Americans no longer believe that buying a home is a safe investment.

Luxury Housing, Ladies' Choice Edition

Ladies come in all different shapes and sizes and so does the shelter they choose to live in. While some dames prefer luxury condos in sky-high towers, others favor sprawling manors with jumbo mortgage worthy price tags. The real estate and rental market is inundated with a large variety of properties that some of the most infamous women have called home during their lifetimes and Mortgage Marvel is happy to share the stats on a handful of options.

About The Fair Housing Act

In 1968 the Fair Housing Law was passed in order to protect the buyer or renter of a dwelling from discrimination from the seller or landlord. The Fair Housing Act is Title VIII of the Civil Rights Act of 1968, and sellers and landlords should familiarize themselves with the law prior to producing their marketing material.

A Quarter of All Mortgage Applicants Rejected

Statistics released from the Federal Reserve have indicated that one in every four new mortgage applicants are rejected during the application process. The activity is a far cry from the lenient underwriting practices that helped fuel the nations worst foreclosure crisis ever and is preventing a full recovery of the real estate market at large.

Republicans To Pass 24 Bills Changing Freddie Mac and Fannie Mae

House Financial Services Committee Republicans are working aggressively on reshaping mortgage giants Fannie Mae and Freddie Mac through massive legislative efforts. One step includes the passing of 16 more bills in addition to the eight already being heard by the Committee.

Ghost Towns Created by The Mortgage Meltdown

The American Great Plains region is splattered with ghost towns. From coast to coast there are hundreds of towns that have been abandoned by prior residents and now are just shells of their former selves. Since America's birth, towns like Bodie, California and Tombstone, Arizona have become some of the most notable deserted cities and due to the mortgage meltdown, newly abandoned towns are become part of the mix.

February, A Housing Market Contradiction of Terms

February 2011 is going down in history as a featuring a complete contradiction of terms within the housing market. Within the year's shortest month, mortgage contract signings were up as new home sales dropped to the lowest levels since 1963. The dichotomy has shown how fragile the nations housing market is and that a complete housing recovery may take years to complete.

Cash Sales Breathing Life Into Phoenix Housing Market

The greater Phoenix, Arizona has experienced a surge of sales activity of late. February home sales in town, reached a four-year high. The uptick is being attributed to buying activity from investors and all cash purchases. It is not the only city where cash sales have been growing in popularity, however the purchases are breathing new life into an area negatively impacting by the mortgage meltdown.

How to Avoid Home Buyer's Remorse

Buying a home generally represents the largest purchase a person will make during their lifetime. Regardless of if the home purchased is a condo or a single family detached, scoring a fair price is the only way to ensure that buyer's remorse (a buyer's emotional response to a sales transaction) is not a side effect of the purchase.

Absurd Home Amenities of the Stinkin' Rich

There is no denying that a person's home is their castle. However, while some individuals are happy with enough elbowroom for the kids, the upper crust prefers homes with lavish amenities. The jumbo mortgage set can no longer make due with the perks of their rich forefathers as swimming pools, sprawling grounds and tennis courts are so retro. Instead, those with the spare cash to burn fancy properties complete with niceties that the average Jane or Joe can barely imagine as having as part of their living accommodations.

Sell Your Home With PMS

The spring home selling season is finally here meaning that  across the nation, home buyers will spend their time browsing open houses, searching for mortgage rates and start bidding on the property of their dreams. Private sellers that tap into the power of PMS for selling their home will end up winners.

Mortgage Rejection Pitfalls to Avoid

Buying a home is a complicated task comprised of property selection and mortgage approval process. While some consumers have the luxury to buy their homes for cash, the more common financial approach for home buying transactions are home mortgages issued by a lender. Here are some mortgage pitfalls to avoid.

How Bank Of America Is Helping Detroit

Motor city has seen better days and mortgage lender and financial institution Bank of America has instituted a couple of efforts to help Detroit, Michigan during their most recent time of need.

Condo Conversions Reign Supreme in NYC

The New York City real estate market has always been considered the toughest to navigate in the world. Since Manhattan Island and the neighboring boroughs are not getting any bigger, vacant land is hard to come by. In response to New York City developers have always needed to get creative with their projects/ Here is the latest buzz on condo conversions going on about town.

Points, Fees and Interest Rates, Oh My!

Mortgages are the most common way for Americans to fund their pursuit of the American Dream of home ownership, but the final price tag of a home mortgage is comprised of more than a great interest rate. Discount points and fees are also part of the equation and for many and must be included in determining if a buyer has the means necessary to buy their dream home.

Nevada Looking To Punish Foreclosure Vandals

Nevada has earned the unfortunate reputation for being both ground zero for the mortgage meltdown and the great recession at large (Senator Harry Reid).  Some homeowners have been stripping their homes of anything as value in response to their loss. As a result, local politicians have proposed new legislation that would provide authorities the ability to charge individuals who intentionally damage a home during the stages of foreclosure.

Cash is King for Record Number of Home Sales

Currently cash is king in the real estate industry, as the activity accounted for one third of all home sales transactions in February. According to the National Association of Realtors (NAR), cash only sales reached record highs and comprised approximately 33 percent of home sales transactions. The rest of the sales were made up of home mortgages including fixed rate mortgages,adjustable rate mortgages and every type of home loan in between.

The Republicans’ Vision for Fannie Mae and Freddie Mac

Capitol Hill has been abuzz about the future of mortgage giants Fannie Mae and Freddie Mac since the Government Sponsored Enterprises (GSE) spurred America's recent mortgage meltdown and housing market crash. A Treasury Department white paper on the subject proposed three options for Fannie Mae and Freddie Mac. Republicans recently re-introduced their own legislation that would stop funding the GSEs and get the government out of the real estate business in approximately two years.

How To Choose a Mortgage Lender

The home financing industry is filled with tons of mortgage providers and that variety of options can be confusing for a home buyer. While many consumers focus in on the obvious comparatives such as interest rates and closing costs associated with a potential home loan, there are other factors that need to weighed when a consumer needs to choose a mortgage lender.

Cheap Ways to Boost Home Value

Spring is right around the corner and so is the real estate's best selling season. Industry insiders are cautiously optimistic about this year's selling potential and home owners preparing to stage their home compose a winning listing for the local multiple listing service and compete with the excess of real estate owned properties on the market place have their fair share of work ahead of them.

About HUDs Short Refi Program

As a result to the nation's mortgage crisis, it is estimated that 25 percent of home owners have negative equity in their homes and owe more on their home loans than their properties are worth. In order to assist those struggling homeowners, the HUDs Short Refi program was specifically designed to help those in need and here is everything you need to know about the refinance opportunity.

HUD Calls House Bills Cutting Housing Programs "Irresponsible"

Last week the Republican House majority voted to cut several U.S. Department of Housing and Urban Development (HUD) programs intended to curb the tide of foreclosure sweeping the nation and to provide assistance to unemployed home owners and underwater mortgage holders struggling with their mortgages. In response HUD released a statement against the action calling the move “irresponsible.”

House Votes to Prevent Helping Unemployed Americans

Earlier this year the U.S. Department of Housing and Urban Development (HUD)announced that $1 billion was being released to assist unemployed homeowners struggling with their mortgages. The funds were supposed to be released this spring, but the program may have hit a wall as the House just voted 242-177 to end the program before it even rolls out.

Reverse Mortgage Rules Force Lawsuit Against HUD

The U.S. Department of Housing and Urban Development (HUD) is facing a lawsuit from three surviving spouses of reverse mortgage borrowers. The case, filed in the U.S. District Court for the District of Columbia has charged the organization with retroactively changing the rules of the agreement and putting the plaintiffs at risk for losing their homes to foreclosure.

The Upside of Mortgages

Throughout history, mortgages have gotten a bad rap. It could be because the name mortgage is a literally translated from Latin as a "dead pledge." Perhaps it is because currently the media is filled with unfavorable stories about mortgage default and glitches within the industry at large. Regardless of the reasons, there are perks associated with mortgages.

What Will Home Buying Be Like in 2062

In the 1960s, Americans got a glimpse of 2062, courtesy of the animated prime-time series "The Jetsons." George, Jane, Judy and Elroy were the epitome of the nation's futuristic utopia. Their middle-class lifestyle is funded by George's job as a computer engineer which provided the family with the means to live in a high-rise condo, complete with video conferencing, robotic maid and talking dog. While the series never addressed how they purchased their home, chances are it was done with a mortgage of the future.

The Future of 30-Year Fixed Rate Loans

Since the 1950's, American home buyers have relied on 30-year fixed rate home loans to finance the purchase of their vision of the American Dream. Government agencies including Freddie Mac and Fannie Mae have made it possible.  Since the treasury department is working diligently on developing a course of action that would allow the government to back out of the agencies, 30-year mortgages may vanish from the landscape altogether.

Generation Gap Impacting Housing Market

Once upon a time buying a home backed with a home loan was as integral to the American way of life as apple pie and baseball, however attitudes towards homeownership have shifted thanks to the current real estate boom and bust cycles. It now appears as if Gen Y is providing the best hope for the future.

Home Sellers Save Money By Skipping These Home Upgrades

In the real estate market place private sellers have the competitive edge and many are implementing affordable home staging techniques as they are the key to selling success, not costly renovations. Here are some costly home renovations that are not worth the money for home sellers.

Boarders Help The Wealthy Avoid Foreclosure

Boarding houses have long been intertwined with American culture. The living situation allows property owners to sublet a room in their home and then tenants share common living spaces. Once again, what is old is now new and McMansion owners are jumping on the subletting bandwagon as a way to avoid foreclosure and as a way to survive the Great Recession.

How To Get A First Mortgage

Fear of the unknown may be one of the reasons consumers hesitate to buy a home, as the thought of securing a mortgage may be intimidating. Luckily securing a mortgage is much easier than most people realize, especially if an individual takes the time to prepare for the task.

How To Compose Winning Home Description

Properly marketing a home for sale is the key to garnering interest in an increasingly competitive market.  Within the real estate industry, sales are a numbers game as the larger the pool of potential buyers, the greater chance of a property being sold and a real estate listing home-listing is the tool essential to distinguishing their property from a crowded arena.

Musicians Turned Real Estate Industry Insiders

A renaissance man (or woman) is defined as  A modern scholar who is in a position to acquire more than superficial knowledge about many different interests," (wordnetweb.princeton.edu). Within the music, fashion and entertainment industry there are dozens of personalities that fit the bill. Some pop stars have diversified their efforts within the real estate industry.

Changes On The Way For HAFA Short Sales

Short sales are anything but, however a more proactive approach from lenders involved in the  Home Affordable Foreclosure Alternatives (HAFA) Program are set to streamline the process for financially struggling homeowners in need.

NY Court Taking the MERS out of Mortgages

The U.S. bankruptcy court in Central Islip, New York, has issued the latest blow to the current foreclosure system. Judge Robert Grossman ruled against Merscorp Inc., a private company that tracks approximately half of all U.S.home loans and has been instrumental on filing foreclosures on behalf of lenders.

Staging Key To Home Selling Success

Regardless of the current trends, there are still active sellers and buyers in the real estate market. Courtesy of the surplus of inventory in the marketplace, sellers have to ensure that the pricing, marketing strategy and home's appearance are on point to entice buyers to secure a mortgage and seal the deal. Staging is the key to that success.

Banks Want Larger Down Payments

Prior to the real estate bubble bursting the mortgage industry was filled with home loan opportunities promoting "no money down" or "low down payments." That may change the Obama Administration recently announced the desire to gradually raise minimum down payments to 10 percent on conventional loans.

What to Know About Buying REO Property

Analyst believe over the next year, the number of REO properties for sale will double from 2 million to an astonishing 4 million homes. The properties are expected to be discounted and consumers interested in buying their next home directly from a lender should know what to expect.

Three Options For Fannie Mae and Freddie Mac

The recent financial crisis Has shed a glaring light on the future of Fannie Mae and Freddie Mac. In response the Treasury Department has developed three options on how to deal with the government assisted mortgage giants.

About Adjustable Rate Mortgages

Adjustable rate mortgages (ARM) were popular prior to the real estate bubble bursting circa 2007.During the real estate boom, nearly 70 percent of all financing options were ARMs. After the mortgage meltdown ARMs vanished from the mortgage industry landscape. Now ARMs are back and growing in market share.

Tips for Lowering Property Taxes

Since Ben Franklin coined the phrase, "nothing is certain but death and taxes," individuals have been trying to prove otherwise with little success. While there is no arguing the inevitability of both situations, there are ways to fight the power especially for home owners struggling with high property taxes despite declines in home values.  Courtesy of the mortgage meltdown national home values have declined an average of 25 to 30 percent. In several cases,  home owners are entitled to property taxes adjustments reflecting the housing value declines.

Housing Markets Bucking the Recession Trend

The nation's economy is still limping along courtesy of the Great Recession. Despite the overall national trend, there have been a handful of real estate markets that bucked the recession trend and local properties in those areas experienced rising home prices.

Housing Programs Facing Federal Ax

In response to huge national debt, the government is trying to trim the fat from their budget.  As a result, multiple ideas have been kicked around including government worker pay freezes, gradual increases in the federal gasoline tax, severe cuts in the government's energy assistance fund for low-income Americans and major funding cuts for a dozen government housing programs. The latter is the hot topic of conversation for meetings held by the House Financial Services Committee.

Where To Buy A Home For $1,000}

In response to huge national debt, the government is taking steps to trim the fat from their budget.  As a result, multiple ideas have been kicked around including government worker pay freezes, gradual increases in the federal gasoline tax, severe cuts in the government's energy assistance fund for low-income Americans and major funding cuts for a dozen government housing programs. The latter is the hot topic of conversation for House Financial Services Committee meetings.

King Size Bed Makes For a Happy Home

A house represents more than a shelter. The structure it is where memories created, families grow, lives gain meaning and people can embark in their version of the American Dream. While each individual may have a different interpretation of how their home should look in order to achieve said goals there are certain amenities needed in order to create a happy home.

Government Backing Out of Fannie Mae and Freddie Mac

Fannie Mae and Freddie Mac hold or guarantee approximately $5 trillion in national mortgage debt and both organizations were instrumental in effecting the mortgage meltdown that plagued the nation towards the end of the decade. Leaks from a white paper produced by the Treasury Department have indicated that the government is interested in reducing their role in the future.

Mortgage Marvel: 30 Year Mortgage Rates Trending Upward

Mortgage Marvel, the industry's leading mortgage rates origination tool, have noted an upward trend in 30 year fixed rate mortgages (FRM) for the week ending February 3, 2011.

Pop Star Homes For Sale

Pop stars may come and go, but their music will live on forever. Aside from the auditory contributions that musicians have added to the world, they have also contributed to the real estate landscape by owning and selling homes worthy of their status. For lucky individuals with either unlimited financial resources or the credit score worthy of getting approved for a the best rates on jumbo mortgages there is a slew of homes for sale, all featuring ties to pop stars.

Neighborhood Selection Tips

Courtesy of the upheaval in the housing market, potential home buyers have had to shift their thinking in relation to home ownership. The reality is, only time can dictate whether or not buying a home in a certain neighborhood is the right choice. That is why consumers need to fully evaluate the potential purchase prior to entering a sales contract, as that foresight can help will increase the odds of being happy in the long run.

HAMP Helped 500,000 Americans

The Home Affordable Modification Program (HAMP) launched by the Obama administration to help struggling homeowners avoid foreclosure, has been cited as being plagued with glitches and not at all effective in its goals. Despite the limitations associated with HAMP, the program has assisted half a million individuals to get mortgage modifications in order to better manage their monthly mortgage payments.

Robo-Signing Settlement in the Works

Iowa Attorney General Tom Miller as been cited as the major force in representing individuals and consumer advocates fighting back against the robo-signing scandal that plagued the nation in the second half of 2010. He recently announced that the investigation surrounding the bad mortgage lender practices are wrapping up and negotiations for settlement will kick off shortly.

Mortgage Marvel, The Better Mortgage Rate Finder

Within the mortgage industry, online technology assisting in the home loan origination process is becoming the popular approach to the task. For those who do, Mortgage Marvel is considered to be the better choice than other competitors in the field.

Unemployed Home Owners Getting a Financial Spring Break

Unemployed homeowners struggling with their mortgage payments amounts are set to get a spring break from the Department of Housing and Urban Developmen. Recently the department released the news that they will issue $1 billion in mortgage assistance to for displaced workers determined to keep their homes (HousingWire.com).

Gen Y Cuts the American Dream of Home Ownership Down to Size

Downsizing is not just a reaction to the American real estate fiasco, it is the preferred way of life for Generation Y. Those born between 1980 and the early 2000s account for 80 million people and the demographic is known for bucking the McMansion trend favored by their forefathers and they are not alone.

Buying is Cheaper Than Renting in 72% of American Cities

Individuals who have been debating between buying and renting their home should consider the former as new data has shown that within 72 percent of U.S., buying is the more affordable option. According to the results of Trulia's most recent Rent vs. Buy Index, buying a two-bedroom home is more affordable in 72 percent of America’s 50 most populated cities.

Where Are Home Values Predicted to Rise in 2011

While a complete housing recovery from coast to coast may still take many years to occur, some markets are showing signs of stabilization and full-fledged rehabilitation. Unemployment and a surplus of available real estate owned (REO) inventory have been cited as factors preventing housing recovering on a national level, however on a case-to-case basis there are some cities boasting the economic health needed for a full rebound.

Increased Mortgage Rates Could Stimulate Housing Market Activity

Consumers who think that historically low mortgage rates around the 4 percent mark are the norm, need to adjust their thinking, stat. Slowly but surely home loan interest rates have moved upwards towards the 5 percent mark, and while many bargain seekers may think that this rise is laying out the future path of doom and gloom within the industry, insiders believe that increasing mortgage rates are a good thing that may indeed stimulate the housing market.

Credit Score Part of Latest Rental Scam Trick

As a direct result of the glut of properties for sale in the open market, rental scams have risen across the nation. Skilled criminals have been lifting legitimate property advertisements from their local multiple service listings (MLS) databases and have used that content to create false ads offering the properties for rent on sites including Craigslist.com. In turn those ads have been used to separate unwitting victims from their hard earned cash and bold criminals have taken it one step further to use the devices to access and seize the personal information linked to credit scores of their dupes.

Californians Have Highest National Credit Scores

According to data gathered by mortgage rate origination tool Mortgage Marvel, California mortgage applicants have the highest credit scores within the nation. The industry insider tool recently conducted a state-by-state study of credit score trends of mortgage seekers and residents of the golden state have the highest average credit scores in the nation at 755, a full twenty points above the national average of 735.

Virginia Fights Home Repossession Process

Virginia lawmakers are currently working on a bill that would require banks to maintain current and accurate records in regard to the chain of title in regards to mortgage loans. The measure called House Bill No. 1506 is in direct response to the unhealthy and sometimes fraudulent foreclosure trend plaguing the nation and was officially introduced into legislature January 12, 2011.

Watch Out For Rental Scams

As the nation has become flooded with surplus inventory for sale, manipulative con artists have been using those multiple service listing (MLS) advertisements as a way to scam unknowing renters. Across the nation, rental scams have been on the rise and the most recent tales should provide a cautionary tale to renters who believe that they have found a property listing that is too good to be true.

2010 Foreclosures Break The Million Mark

During the course of 2010, experts predicted that the year’s foreclosure activity would break previously set records from 2009. Unfortunately, that vision has come true and over one million homes became real estate owned properties during 2010. Statistics released by RealtyTrac. indicated that a total of 2.9 million foreclosure notices were distributed during 2010 resulting in the final data. Industry insiders agree that the numbers would have been significantly higher if lenders did not cease their foreclosure practices as a result of the robo-signing fiasco.

Mortgage Seekers Going Online

Billions of people tap into the power of the web as a method of communication, expression and entertainment. However, the tool is now becoming an increasingly important device within the mortgage industry as more consumers are relying on the technology in regards to loan origination. Every mortgage has to start somewhere, and tech-savvy consumers know that websites that connect potential borrowers directly to lenders can systematize the loan process.

Rent Ratio and the Renting Versus Buying Equation

When it comes down to getting shelter, the two basic scenarios are renting vs. buying the roof overhead. Undoubtedly, there are pros and cons to each scheme and calculating the rent ratio when deciding between the options can provide consumers with the most valuable insight for making a decision. A rent ration is a simple mathematical equation that can provide consumers with the acumen needed to determine if buying or renting makes more financial sense.

Court System Starts To React to Mortgage Crisis

One by one state legal systems are started to react to the fraudulent mortgage activity caused by lenders and their robo-signing procedures and borrowers are gaining the upper hand. banded together to perform a joint investigation. Based on the efforts of Attorney Generals from all 50 states, some local courthouses are now hearing the cases while other states have enacted emergency amendments to prevent lenders from conducting any other illegal activity.

Sage Advice For New Homeowners

While some individuals are still wondering why buy a home now, others are fully immersed in their pursuit of the American Dream and are enjoying the fun associated with buying a home. There is nothing like the thrill of buying a home to stimulate the senses as the process can certainly be an adventure, however first time home buyers can easily have their enthusiasm tamed if proper planning was not part of the scenario. No matter where a home is situated, avoiding common mistakes can help minimize the risk of future financial problems down the line.

Multiple Homes Leveled by Accident

Debbie Harry of "Blondie" infamously crooned that "accidents never happen in a perfect world," thus proving the current real estate market is far from perfect. Over the past few years city officials and construction companies across the nation have accidentally leveled and destroyed a handful of homes, and have done very little to make proper retribution to the affected homeowners. Some of the mistakes have been blamed on technological glitches as well as bad practical jokes and owners of the doomed properties are struggling not only with the financial loss but the emotional burden levied on them by the action.

2011 Condo Market Trends

Condominium living has been a choice for millions of people. Romans used this varietal of home ownership in 6 B.C., Europeans utilized condo living for centuries and America finally got with the program after WWII. Since the opportunity was legally created, cities such as Miami, San Francisco, Seattle and Boston, have experienced huge growth in the sector, however thanks to the great recession the industry is once again shifting and entering a new stage of evolution.

Private Home Sellers Have Competitive Edge

Experts differ on their predictions in regards to what 2011 holds for the nation's real estate market. Despite their confusion it is certain that private homeowners will be in head to head competition with lenders trying to unload a surplus of real estate owned (REO) properties. Although the prospect of competing against the big boys stash of 'shadow inventory' may be intimidating for private sellers, the reality is that individually sold homes are currently considered to be some of the most attractive type of home sales transactions to prospective buyers.

Prep To Sell Your Home In 2011

Although it is impossible to predict what is looming on the horizon of the 2011 housing market, there is no doubt that those who plan on selling their homes this year will have face steep competition. The housing marketplace is flush with inventory from short sales and real estate owned properties and buyers currently hold the upper hand. That balance may be intimidating to private sellers entering the arena in 2011, however by implementing a proper sales strategy from the get go, home sellers can gain control and preparation is essential to selling homes in 2011.

Recession Ushers In Return of Extended Family Living

For decades, the traditional American Dream involved living in a single family detached home complete with white picket fence and 2.3 kids in a solid nuclear family unit. Courtesy of the great recession, the vision has shifted and more people are reverting to multi-generational family living out of necessity.

Home Buying Tip: Home Structure Inspection Crucial Step

Owning a home has been part of the American Dream for decades and for many, a property purchase represents the largest expense of a lifetime. That is why looking before leaping is a crucial step for the process and potential buyers need to not only to marvel at the size, design and amenities included in a home but also to get down to basics and look at a home's structure before signing on the dotted line.

Nation's Top Three Affordable Housing Markets

More than 51 percent of the nation's residents fantasize about pursuing the American Dream of homeownership, despite the housing scenario created by the mortgage meltdown. Prior to the shift in the national real estate market, fair market values were becoming too high for the average American consumer. After the bubble burst, the real estate market has been leveled and the landscape is now covered with plenty of affordable housing in the form of properties selling for well beneath the $100 k mark.

Californians To Get Mortgage Modifications

California became a state known as ground zero for the great mortgage meltdown. The state earned the reputation thanks to a combination of predatory lending in the form of subprime mortgages, lack of understanding from uninformed borrowers and many consumers biting off more than they can chew. Some relief for the riskiest types of mortgage holders is coming thanks to a new agreement with lender Wells Fargo and the state of California.

Senate Stiffs Struggling Homeowners, Again

The U.S. Senate just voted to eliminate $35 million in legal aid to struggling homeowners trying to keep the roofs overhead. The move was done as a money saving device in order to meet government spending caps while government agencies including Freddie Mac and Fannie Mae< are dealing with record numbers of foreclosures fueled by the now infamous mortgage meltdown. HuffingtonPost.com has stated that the move is only one "casualty of Washington's increasing bipartisan push to cut spending across the board," and unfortunately it is expected that the long term affects of the decision will end up costing taxpayers more in the long run.

Bad Mortgage Bankers On Santa's "Naughty" List

The current state of the nations' real estate market did not happen itself and the naughty behavior from Wall Street has immersed Main Street U.S.A. in pool of foreclosure activity. For the past year, many borrowers have lost their homes courtesy of the mistakes made by "robo-signers," (automated systems used by some of the biggest banks to expedite the foreclosure process), and Santa is fed up with the practice and several naughty boys and girls are not only getting coal this holiday season, but have the additional burden of defending their actions in court.

Increased Home Construction A Good Thing

At this point in time, reflecting upon the 2010 real estate market has become a rite of passage upon entering 2011, and signs from the residential home construction industry have indicated that the market sector has indeed bottomed out and increases in activity are expected on the near horizon. The news that home construction has officially increased near the conclusion of the year is providing financial experts with a slight glimmer of hope in regards to what is in store for the 2011 real estate market.

What Is In Store For 2011 Real Estate Market?

As 2010 comes to an end, Americans are bidding a not-so-found adieu to one of the most economically tremulousness years in history. Within the housing market 2010 was a year plagued with foreclosures, fair market value property retraction and general downward spiral of the housing market as a whole. With the light at the end of the tunnel in sight consumers are looking forward to an entirely new calendar year and the potential it may hold. However the question remains, what is in store for the 2011 real estate market and do real estate industry insiders have any optimism for the New Year? Without an accurate crystal ball, the future is hard to predict, but there are some thoughts on the matter that indicate that individuals are still going to need to hang tough and be strong.

Tips For Renters

Since the inception of America, citizens have always wanted to live better than their forefathers. That belief fuels the American Dream of homeownership, however until that goal is reached, renting the roof overhead is a common lifestyle choice. Renting became especially prevalent during 2010. While there are benefits associated with renting versus buying, the process of becoming a tenant is filled with financial traps and fees that may negate the effect. Individuals who opt to pay fair market rent for the privilege of keeping a roof overhead should know that some fees associated with renting can easily be avoided and are not a legal necessity of the process.

Residential Spa Resorts New Planned Community Trend

Since the inception of America, citizens have always wanted to live better than their forefathers. That belief fuels the American Dream of homeownership, however until that goal is reached, renting the roof overhead is a common lifestyle choice. Renting became especially prevalent during 2010. While there are benefits associated with renting versus buying, the process of becoming a tenant is filled with financial traps and fees that may negate the effect. Individuals who opt to pay fair market rent for the privilege of keeping a roof overhead should know that some fees associated with renting can easily be avoided and are not a legal necessity of the process.

Sleeper House In Legal Battle

In 1973, Woody Allen was the official king of comedy, courtesy of the release of futuristic science fiction comedy film, entitled Sleeper. The plot of the film involves the reawakening of a Greenwich Village,New York health store owner who was cryogenically frozen in 1973 and defrosted 200 years later. The movie was filmed in various locations around Denver, Colorado and an unaccredited star of the film was the modern designed "Sculptured House," and that property is now part of a legal battle in town.

Score Huge Discounts on Phoenix Mansions

Although 30 percent of all Americans opt to live in the same town in which they were born, the rest of the population is composed of movers and shakers. Due to housing prices and lack luster job markets New York,Illinois,Ohio,Nebraska and Kansas are all poised to experience population declines and states including Arizona are expected to reap the rewards of new residents to the area (Forbes.com). Those who opt to relocate to the "Valley of the Sun," can scoop up some amazing deals in the marketplace including luxury mansion dwelling for pennies on the dollar.

Candy Spelling Downsizes

After decades of adhering to the motto "bigger is better," Americans have acknowledged that larger homes are no longer chic and downsizing is the hottest trend. Within the real estate industry, downsizing is the trend of individuals choosing to live in smaller homes with lower overhead and associated expenses. According Trulia.com, the 55 percent of Americans now want to live in a more manageable 1,401 to 2,600 square feet of living space as opposed to the 3,000 square footage previously associated with McMansion living, and this philosophy is slowly trickling down into the celebrity realm.}

Aaron Spelling's Former Home Most Expensive Ever!

The average Jane or Joe often expect celebrities to live larger than life and have the large home and jumbo mortgage as part of the program. Aaron Spelling was one famous guy who lived up to the image (sans mortgage). Aaron Spelling was an American film and television producer that garnered generated over 200 credits to his name thanks to his contributions to the entertainment industry. During his lifetime he was accredited with creating The Love Boat, Fantasy Island and squeaky clean 7th Heaven. It was this success that allowed Spelling and his family to build and live in a palatial home simply dubbed the "Manor." The property is currently for sale and is considered to be the most expensive home in the world.}

Mortgage Magic Numbers

For thousands of years humans have been fascinated by numbers and there supposed influence on events. Sesame Street and De La Soul agreed that "Three is a magic number," many have fears associated with the "unlucky 13," and the number seven has long been a favorite for superstitious folks. While many individuals practice numerology as a way to determine a relationship between physical objects or living things, there is no arguing the value of the system in regards to buying a home.

Mortgage Interest Tax Deduction Possibility At Risk

Shelter, the chance to build equity and tax deductions are just some of the perks associated with homeownership and overhauling the current tax laws may remove the final perk from the equation. As the Bush Tax cuts are on the verge of expiring lawmakers are working on several compromises within the system. One such revision to the current system may extend to a reversal or revisions in the current mortgage interest tax deduction provided to homeowners. Industry insiders are not thrilled with the potential change in this aspect of the system as the move could further depress the weakened national housing market.

Pop Icon Homes Currently For Sale

While most of California is filled with the average guys and gals working and living their lives, the state is also densely populated with actors, actresses and others who depend on their pop culture status for their livelihood. Los Angeles (specifically Hollywood) is known as the historical center of movie studios and movie stars, and since the trend first kicked off in town over a hundred years ago, thousands of individuals have flocked to town in order to pursue their dreams. While some pop icons such as Marilyn Monroe and Shelly Winters (former roommates who lived in West Hollywood) had the luck and tenacity to become household names, others are still struggling in pursuit of their vision of the American Dream of national name recognition.

Tips For Getting the Lowest Mortgage Rates Possible

Mortgage rates are at historical lows. Since government assisted mortgage behemoth Freddie Mac started keeping records of traditional 30-year fixed rate mortgage statistics in 1971, the current offerings are the lowest on history. For the majority of 2010, lenders have been charging a scant 4.5 percent interest rate and average .7 percent point to consumers seeking home loans. The industry's premier mortgage rate origination tool Mortgage Marvel, has hundreds of home loan opportunities for potential borrowers, however only individuals that can meet the stricter underwriting qualifications for loan approval will be able to tap into the offers.

All About Reverse Mortgages

For decades Americans have relied on homeownership to build wealth in the form of home equity. Once individuals have established a substantial amount of equity by making monthly payments and reducing the principal balance of a loan, the financial scales will tip in their favor allowing them to tap into multiple types of credit opportunities. Some options include a home equity line of credit (HELOC) or a standard home equity loan, and for aging Americans reverse mortgages are the most popular selection.

What Home Buyers Want

Downsizing is just one of the many consequences Americans are enduring as a result of the real estate meltdown. Prior to the recession, >McMansion dwelling was considered the ideal living situation and sprawling homes featuring a minimum of 3,000 square feet were the norm. Opinions of the matter have switched and now 55 percent of Americans now favor living in a home with a more manageable 1,401 to 2,600 square feet of space (Trulia.com).

All About Equity

Homeownership has been part of the national way of life for decades and despite any downswings in the real estate market, consumers still long to own their slice of the American Dream. Historically, homeownership has been one of the surest paths to building long-term wealth and according to Federal Reserve Board statistics, once equity is built, a homeowner’s net worth is 46 times that of a renter’s.

Subletting to Stem Mortgage Default

Housing is a basic essential for survival and thanks to the current state of economic affairs, renting is growing in popularity. According to apartment sector data provided by MPF Research, throughout 2010, renter occupied rates increased by 215,000 in 64 largest U.S. metro markets. Those numbers are nearly double the 2009 statistic, homeowners becoming landlords as a way to prevent mortgage is the biggest reason for the activity.

First Time Homebuyers, Don't Forget These Expenses

For most Americans, buying a home in pursuit of the American Dream of homeownership is the largest expense of a lifetime. Most single family detached homes or condominiums have price tags ranging in the tens of thousands to hundreds of thousands range and require a mortgagein order to purchase. A mortgage is a home loan issued from a lender and part of the legal obligation requires a borrower to pay off the debt, over time, with interest. While over time, that prospect can add thousands of dollars onto the price tag of a home; interest is not the only expense to budget for.

Tips For Boosting Home Value

Regardless of the nation's overall economic climate, individuals will always be involved in the pursuit of the American Dream in regards to homeownership. Families will continue to shift in size, personal tastes will evolve and consumers are still actively involved in both selling and buying homes. It is important to note that currently the American real estate landscape is considered to be a "buyer's market" thanks to a surplus of inventory (some of which are significantly discounted backed by historically low mortgage rates and those in position of selling their homes are struggling to get fair market value.

Living with a Homeowners Association

No two individuals have the same exact vision of the American Dream of homeownership and while some may fancy living in McMansions, others prefer the built in community feel and ease of living in either a condominium or cooperative environment. Those who favor the communal living should know that a homeowners association (HOA) is part of the package.

Pregnancy Prevents Mortgage Application Approval

The time has never been better to buy a home thanks to the lowest mortgage rates in history backed by a surplus of real estate including many discounted property options. However, as a result of the mortgage meltdown, qualifying for a mortgage has become increasingly challenging. Lenders are now going over the loan application forms of potential borrowers with a fine-toothed comb in order to reduce the risk of financial loss. While qualifications including credit history and credit scores are legitimate reasons to reject an application, pregnancy is not. That has not prevented unscrupulous lenders from using that as an excuse to turn down mortgage seekers.

All About 30-Year Fixed Rate Mortgages

For novices looking for a first time home loan, the terminology used within the mortgage industry can make mortgage shopping an intimidating process. Despite the confusion on the surface courtesy of loan terms most financial experts believe that 30-year fixed rate mortgages are the best type of home loan for a multitude of reasons.

Presidential Homes For Sale

From day one all American children are taught that anyone can grow up to be President. The reality is only a handful of citizens have ever earned that role. Despite that, American is still considered the land of opportunity teeming with the pursuit of the American Dream. While rising to the top of the political heap may be next to impossible, living like the official head of state can be a reality as currently several former presidential homes are for sale.

All About FHA Loans

Since the Federal Housing Administration (FHA) was first created in 1934, the government backed agency has been instrumental in converting the nation from one of renters to homeownership. Although the FHA does not make loans, the agency does provide mortgage insurance against loan default. That muscle has boosted the confidence of lenders for decades and that backing has been used in over 34 million properties sales since the creation of the company.

Oil Spill Drags Down Real Estate Values

Environmentalists are not the only individuals up in arms regarding the negative impact the Deepwater Horizon oil spill. Thanks to an oil rig explosion and a constant three month flow of oil into the Gulf of Mexico, local home values in Louisiana ,Mississippi, Alabama and parts of Florida are expected to drop another 30 percent. Those retractions will be added to the top of an already shaky real estate market first impacted by the havoc caused by Hurricane Katrina and then the mortgage meltdown crisis spanning the country.

What is the Hardest Hit Fund?

Thanks to the country's state of economic affairs, the Government has been heavily involved in providing assistance to help curb the condition originally created by a mortgage meltdown. One such program launched by President Barack Obama's administrations was the creation of the Hardest Hit Fund that officially launched in February 2010. This program has been developed to funnel financial assistance to families livings in the state hardest hit by the double combo of retractions in both the economy and housing market.

Mortgage Interest and Income Taxes

Author Daniel Defoe has been accredited with coining the original variation of the statement "nothing is certain but death and taxes." To help ease the blow of the latter, the Internal Revenue Service (IRS) has many legal deductions to the taxes paid by citizens and interest paid on mortgages are just one of them.

Adverse Possession Making a Comeback

The 1850s were a fine period indeed. The city of Los Angeles, California officially incorporated, ruffles and over sized domed skirts was all the rage and refined ladies and gentlemen got their jollies listening performances of the song "Camptown Races." It was also the year that claiming property under the terms of "adverse possession" became the norm. While the other trends have finally be laid to rest, adverse possession is officially making a comeback in relation individuals attempting to claim the deeds of foreclosed and abandoned houses.

Home Buying Tip: Top Mortgage Qualification Factors

For a plethora of reasons, the time to buy a home is now. The country is flush with available properties, historically low mortgage rates and major discounts in the housing sector. Although many consumers are very interested in getting their slice of the American Dream, fewer consumers are qualifying for the lowest mortgage rates in history. Here is what you need to know in order to pass the application process.

Mortgage Pre-Approval Crucial Step in Home Buying Process

Those determined to pursue their version of the American Dream of homeownership are encouraged to buy a home sooner than later as there is currently a "buyer's market." Courtesy of the side-effect created by the mortgage meltdown and subsequent great recession there is a surplus of real estate inventory featuring highly discounted home prices and the lowest mortgage rates in recorded history are being offered by lenders. Individuals who opt to get a mortgage pre-approval prior to entering the real estate game are the ones most poised for success.

What is Going on In the Las Vegas Housing Market?

Sin City is still feeling the brunt of the real estate bubble bursting. A new report has shown that housing prices are still retracting and the slew of real estate owned (REO) properties is the most likely cause of the movement. According to a market condition report from Nevada Title Company, home prices are continuing to decline in the area as bank owned properties are plentiful, already feature reduced prices and are negatively impacting the housing market as a whole.

Freddie Mac Failing Homeowners Again

Americans continue to have a love/hate relationship with mortgage giant Freddie Mac. Currently the trend is a bit more on the loathing side as 2009 second quarter statistics have indicated that approximately half of all the mortgage modifications processed by the government-assisted lender have re-defaulted.

Low Mortgage Rates Set to Vanish in 2011

Consumers procrastinating on locking in the lowest historical mortgage rates ever better act fast as by year's end they are set to become a thing of the past. Mortgage behemoth Freddie Mac has began tracking mortgage rates in 1971, and since that time period 2010 is going down on the record books for having the lowest mortgage rate offers ever. For the majority of the year, mortgage rate offers on traditional 30-year have been well below the 5 percent mark, however according to Mortgage Bankers Association (MBA), rates are expected to climb in 2011.

More Celebrity Homes For Sale

Celebrities, are just like us (but with much deeper pockets). Despite the importance bestowed upon them by the rest of society (and the media), famous folks are human beings made of flesh and bone and need the same basic necessities such as food, clothing and shelter. When it comes to the financing the latter, star power is not enough and chances are a jumbo mortgage may be a necessity to purchasing the luxury accommodations with the larger than average price tags. Mortgage Marvel is happy to show a few of our favorite celebrity homes currently for sale.

Home Values to Drop Again

According to an assortment of financial experts, home values have yet to hit rock bottom and home prices are expected to decline by another 8 percent in 2011’s third quarter. The trend is being fueled by a number of factors including high unemployment rates of 9.6 percent (Bureau of Labor Statistics), a weak economy and potential borrowers having their loan applications rejected because of tighter mortgage underwriting procedures.

Australia Invades America

America has always been considered the land of opportunity, and courtesy of the weakened real estate market Australians are invading the country. Citizens concerned about the activity should stop worrying as foreign investors are helping stimulate the economy by buying foreclosed properties.

America's Scariest Haunted Homes

Autumn is a season associated with cooler temperatures, beautiful foliage and spooky times thanks to Halloween. When it comes to the festive holiday the scarier the better and haunted houses are considered to be some of the best places for hosting the celebrations.

Condo Shopping Tips

Shelter is a basic necessity for all and while some people may prefer living in , others may favor condominium (AKA condo) living. While condo living can provide an instant community and reduce stress generally associated with maintaining a single family detached home, there are other factors consumers need to consider before securing a mortgage and signing on the dotted line.

Rock-n-Roll Properties For Sale

Neil Young infamously warbled "Rock n-Roll will never die," and thanks to the millions of fans of the genre, that statement is still true today. Rock-n-roll is a type of music that evolved and was popularized across the nation during the 1950's. The music generally featured an upbeat tempo and is considered to be the predecessor to slews of musical trends including indie rock, alternative, new wave and punk rock. Some properties with ties to the rock-n-roll way of life are currently for sale and here are a couple of favorites from Mortgage Marvel.

Common Mortgage Mistakes to Avoid

Trial and error is a common way to learn, but when it comes to home financing, that process can be a costly one. The American Dream of homeownership is alive and well in America, and millions of consumers have decided to act now in order to take advantage of the lowest mortgage rates in history and a surplus of inventory at discounted prices. Individuals who realize that buying a home now is a smart decision need to make sure to look before they leap in order to avoid some of the most common mortgage mistakes

What's Going on in the Illinois Housing Market

Because Illinois has small-town charm and a bustling metropolitan center surrounded metro regions and suburbs, Illinois is considered to be microcosm of the entire country. That is why some real estate insiders have been watching the state with keen interest as a way to gauge the future of America's economic recovery. Here are some of the local trends making national headlines.

California Dreaming Lives On

California Dreaming isn't just a song title, but a desired way of life for a majority of Americans. According to the results of a recent Harris Poll, the Golden State tops to list of desirable locations for homebuyers across the nation. This thumbs up to California comes amid reports that the state has the third highest unemployment rate in the nation (a whopping 12.4 percent as of August Bureau of Labor Statistics) and foreclosure rates across the state are still unnaturally high.

What To Know About Being a Landlord

Necessity has long been the mother of invention, and that is why some homeowners are currently taking on the role of landlord. As the nation is still being negatively impacted by the economic slump, there has been a shift in the traditional American Dream as more consumers are opting to rent. Renting is making a comeback as many have opted to rent the roof over their heads. While this behavior is preventing a full recovery of the housing market, some individuals are becoming landlords to find a way to pay off mortgage debt and still hold the title to their homes.

Haunted Houses of the Rich and Famous

While some think haunted houses are only based on urban legend, others are convinced that there is a spirit world. Believers accept that some homes have portals to the spirit world and provide opportunities allowing ghosts to cross over. Nationally, horror houses have been selling like hotcakes and while some homes have been the site of mass murders, others have been deemed gateways to paranormal activity. While both those situations may be unusual, haunted houses get even weirder in California as some A-list stars have been reported as coming back from the grave and lingering about their former digs.

All About Refinancing

Since Freddie Mae first started keeping track of mortgage rates in 1971, current home loan interest rates have hit historic lows. During 2010 the average mortgage rate has been well below the 5 percent mark, and in September qualified consumers were able to tap into an astonishingly affordable 4.35 percent rate with an average of .7 points. Because of the ability to borrow money on the cheap, 80 percent of September's entire mortgage loan applications were for refinancing (Mortgage Bankers Association). Learn if the strategy is right for you.

Where You Live Reveals Personality Traits

Are you a New Yorker living in a cramped coop and fantasizing about relocating to the City of Angels? Perhaps you already live in LA but have been dreaming about relocating to Milwaukee to be closer to your family. New research published in American Psychologist has broken down the science of why people choose to live in different cities and what it boils down to is some cities have heart and others have head (September, 2010).

Houses Stolen in Georgia and Other Real Estate Scams

While most people have been taught that hard work and perseverance is the key to achieving the American Dream, others cut corners and use illegal means to achieve the goal. Within Georgia, thieves are stealing real estate owned properties from lenders and rental scams have been spreading throughout Florida like wild fire. Here is the 4-1-1 regarding illicit activity in the nation's real estate market.

Real Estate Markets Expecting Growth in 2010

Since the real estate bubble first burst, experts have been trying to determine the end of the housing devaluation trend, and the news does not look promising. The media has been reporting that by years end more than 1 million properties will be foreclosed. That number will exceeds the previous foreclosure rate record set in 2009. Aside from those sad statistics, the average home price is expected to decrease over the next two years across the nation.

Homeownership as Fleeting as Celebrity Status

Thanks to the "Fickle Finger of Fate," (Rowan and Martin's Laugh-in) celebrity is fleeting and so is homeownership. While multitudes of Generation Y are fascinated with fame and are convinced it will provide them with the best quality of life, the reality is the condition is no way an indicator of financial health and general well being. That is why it should not come as a shock that several famous folks are experiencing the woes of foreclosure just like the average Jane or Joe is throughout the nation.

Celebrity Bad Boy Homes for Sale

Iconic bad boys come in all shapes and sizes and so do the houses that they once lived in. Currently the real estate market is proliferated with homes from some of the most infamous men out there. Those seeking to up their street credit should consider buying (or renting) the homes of some legendary bad boys who many millions in publishing, fashion and the music industry. While the price tags of the homes may require jumbo mortgages to finance, because of the fame associated with the properties chances are they will move quickly.

Obama Vetoes Interstate Recognition of Notarizations Act

President Barack Obama recently vetoed the controversial Interstate Recognition of Notarizations act that was originally introduced in 2005. The bill was introduced by Rep. Robert Aderholt, (Republican, Alabama) and if put into affect it would have allowed lenders to expedite the foreclosure process. Sen. Patrick Leahy (Democrat, Vermont.), the Chairman of the Judiciary Committee, was able to move the legislation through the Senate without debate on Sept. 27. The President's action has stopped this bill dead in its tracks, for now.

Live Like a Star in Illinois

Most star struck fans consider New York and Los Angeles as the hot spots for finding homes previously owned by their favorite actors and athletes. However, across the nation talent can come (or live) anywhere, and the metro regions of Chicago, Illinois Is no exception.

Homeowner Winter Prep Tips

According to the Insurance Information Institute, annually winter storms cause $1 billion property damage. Even if you are a homeowner with adequate insurance coverage, avoiding the hassle of potential damage and subsequent claims is a smarter move. A little attention now can stem off big problems this winter.

Housing and Bankruptcy

Despite proclamations that the recession is over and some real estate markets like New York and Washington D.C. are already on the mend, there are still plenty of financially struggling consumers trying to keep the roofs over their heads. That trend is fueling the large proportion of filed during 2010. According to American Bankruptcy Institute during January through September, more than 1.1 million filed for the legal protection, and many of them have done so as it is a way to avoid losing their homes.

What's Going On In The New York Real Estate Market?

New York has a real estate market unlike any other out there. Throughout the state there is a wide range of unique real estate conditions. New York state is home to some of the world's priciest real estate and apartment units sold not as property but as shares in a corporation and luxury properties backed by the insurance of Federal Housing Authority (FHA) protection. Here is some current information regarding activity in the New York state real estate market.

What's Going On With the Dallas Housing Market?

Rumor has it that everything is bigger in Texas. From hair, to cars to McMansions, the nations second largest state is known for being the land of the large, and the current state of the local real estate market is providing the point. In state, the areas most predominate city, Dallas,is experiencing a spike in foreclosure activity in the largest home value price range.

Home Decorating Tip: Set the Mood with Color

Buying either a new or previously owned property has been part of the American Dream for decades. Homeownership provides those with a roof over their head, a chance to build wealth in the form of equity and a canvas for personal expression. One of the best things about owning a home is decorating and filling your space with pleasing colors, finishes and personal touches.

All About Mortgage Forbearance

The current real estate market trends vary from coast to coast. While some real estate markets such as of California and Baltimore, Maryland are considered to be on the mend, other areas like Phoenix, are still being hard hit by foreclosure and weak market values. Regardless of the area, those who are having financial problems may be able to get a break courtesy of mortgage forbearance.

Value Driven Kitchen Remodeling Tips

For many people, homeownership does more than provide an Englishman with his castle. Owning property is part of the American Dream and can provide a sense of security and a forced saving plan. Consumers looking to get into the action either buy buying a new or previously owned home should certainly act now to take advantage of low mortgage rates. However, instead of investing money into remodels as a way to increase home value, tweaking your home to suit your personal tastes is a wiser idea as many home renovations do not generate a full return on the expenditure and may cause a financial loss.

America's Most Expensive Real Estate Markets

Throughout the nation, housing prices have been slashed in response to the real estate bubble bursting. The discounts have been a necessary step for private sellers interested in staying competitive in a market place filled with real estate owned properties and short sales. Despite the trend, there are still some pricey markets out there that will require consumers to secure a jumbo mortgage to finance the purchase.

What's Going On In The Phoenix Housing Market

Within the real estate industry, what goes up must go down. The statement has never been truer in relationship to current mortgage rates. The summer of 2010 was marred by a number of newsworthy events including oil leaks, troops returning home and the proclamation of the "lowest mortgage rates in history." For the latter, the statistics came courtesy of Freddie Mac, the government assisted mortgage lender who has been keeping record of mortgage rate data since 1971.

Home Buying Tip: I'm With the Band Edition

Rock-n-roll culture has been intertwined with the American Dream for decades. Millions of people dream of becoming rock, meeting their favorite performers or just listen to the musical works on a daily basis. For those lucky few that have the financial resources to secure and put down a sizable down payment they can get closer to their favorite rock legend as currently the market is flooded with homes of some of the most popular musicians of all time.

Homebuying Tip: New vs. Previously Owned Properties

There is nothing like a shiny new toy to bring a smile to a person's face. Whether it is a purse, tech gadget, car or a newly constructed home bought in pursuit of achieving the American Dream, consumers are obsessed with owning the latest and greatest. Although there are many perks associated with buying a brand new home, there are some disadvantages of the move and has decided to layout both sides of the story.

Homeowner Insurance Needs

Homeownership has long been touted as part of the American Dream and that is why millions of people continue to enter the real estate market. While some consumers may opt to live in large homes, others may choose a more simple life of a being a dweller. Regardless of the living arrangements they choose, insurance coverage is essential safety net to protect those assets.

Mortgage Rates Throughout the Years

Within the real estate industry, what goes up must go down. The statement has never been truer in relationship to current mortgage rates. The summer of 2010 was marred by a number of newsworthy events including oil leaks, troops returning home and the proclamation of the "lowest mortgage rates in history." For the latter, the statistics came courtesy of Freddie Mac, the government assisted mortgage lender who has been keeping record of mortgage rate data since 1971.

Homebuying Tip: All About Short Sales

Consumerism is part of the American Dream and a favorite national pastime. According to experts, consumer spending accounts for 70 percent of the national economy, and currently shopping for bargains is the norm. Within the real estate industry, courtesy of historically low mortgage rates and slashed home prices, homebuyers are scooping up major housing discounts via short sales.

Real Estate News from the Golden State

As a progressive state, California has always been considered a leader of the pack in regards to politics, fashion and culinary delights. Unfortunately the region also became known as the trendsetter in regards the real estate market boom and bust cycles that wreaked havoc on the industry from coast to coast. Because of that unfortunate notoriety, experts are closely monitoring the local real estate market to gauge the future of the industry. Although the most recent news from the Golden State has some highs and lows, there are signs that the real estate market is stabilizing in the region.

Housing Markets on the Mend

Across the nation, the current real estate market features a mixed bag of tricks. Within Orlando, Florida inventory is moving, but prices are still retracting. In California default filings have increased over the summer. However, in some parts of the country there are positive signs indicating that certain markets are on the mend.

Half of All First Time Homebuyer Claimants Must Return Money

In order to stimulate the faltering real estate market caused by the mortgage meltdown, the U.S. Government created a number of tax incentives for first time homebuyers. Approximately 1.8 million Americans pursuing the American Dream of homeownership tapped into the program. At one point the program provided an $8,000 tax refund as part of a home buying incentive. The Inspector General for Tax Administration has recently reported that around 950,000 have to pay back the money.

Why Buy a Home Now

Despite news trickling out of the housing industry, 72 percent of all Americans believe that homeownership is part of the American Dream (Trulia.com). Unfortunately, those interested in converting from have been sitting by the wayside and that is contributing to a sluggish recovery of the housing market. Their decision may cost dearly down the line as there is new information that backing that the time to buy a home is now.

Horror Houses Selling Like Hotcakes

Every house has a story. While some properties have a long and illustrious history of happy memories, grandchildren and good times, the details surrounding other homes are laced with infamy and gruesome tales of woe. Across the nation, several homes that were previously locations of horrible crime scenes found new owners.

Celebrity Homes in Need of Jumbo Mortgages

Word on the street is that large homes are no longer “in.” Not only is this trend influencing nouveau riche McMansion owners to unload their properties at highly discounted prices, celebrities are also going with the flow. Here are some current luxury offerings requiring jumbo loans to finance.

The Real Homes of Fake TV Families

Watching old sitcoms is enough to make any person feel like they were robbed of having a perfect childhood, especially after seeing some of the properties the fake families called home. While some properties only existed on the back lots of movie studious, others were real homes purchased with mortgages by real people. Here are a few of Mortgage Marvel's favorites.

Factors Preventing Housing Market Recovery

Despite historically low mortgage rates and an excess of inventory, the housing market has yet to bounce back. The initial problems hindering the housing market were fueled by a boom and bust cycle in the real estate market and the problems are being compounded by the continuation of the Great Recession.

Large Homes No Longer Chic

At appears that the McMansion lifestyle choice is coming to an end. After years of consumers buying homes featuring sprawling layouts and square footage exceeding the 3,200 mark, the current trend in homeownership is tilting towards downsizing.

The Difference Between Condominiums and Cooperatives

Everyone needs a roof over his or her head and while some prefer to live lakeside in a log cabin others may favor living in a luxury high rise in a busy city. If you prefer the latter, more options come into place as not all dwelling units operate the same way. Some properties are called condominiums and others are cooperatives, here is the difference.

Housing Discrimination Alive in 2010

Welcome to America, the land of opportunity. The country was built on freedom of expression, religion and conceptually equal rights for all. Unfortunately some of the population has not gotten the memo and are still actively and illegally discriminating against people in regards to the housing industry.

The Current Fate of Celebrity Homes

Celebrity is fleeting and so is the ability for "stars" to pay their mortgages on time and keep the roofs over their heads. Currently, the real estate industry appears to be on track for enduring 1,000,000 foreclosures by years end, and it is not just the average Jane or Joe at risk of losing their homes. Many celebrities (or perhaps wanna-bes) are contributing to the unfortunate trend.

Score Deals on Architectural Finds

While some homes are built quickly and lack original floor plans other homes are designed and constructed to be architecturally awe inspiring. California is one such state filled with homes featuring design elements, awe-inspiring views and plenty of other attributes catering to design fans, and now plenty of those jaw dropping homes are on the market at highly discounted properties.

Fifteen Year Mortgages Increase in Popularity

Historically low interest rates for fixed-rate mortgages have incited a surge in the 15-year mortgage industry. The Lowest mortgage rates In history have prompted consumers to refinance existing mortgages, ultimately shortening the lifetime of their loan terms.

FHA Loans Marketing Trend for Luxury Properties

Since 1934 the FHA has provided insurance backing on mortgages issued by lenders approved by the government branch. Although the program launched as a way to help lower-wage earning Americans get involved in the home owning game, the coverage is now being offered throughout New York's luxury condo market.

Wise Home Improvement Decisions

There is nothing like putting the personal touches on a home after becoming the official owner. Whether it is a fresh coat of paint or a major kitchen renovation, there is a large array of home improvements consumers may opt to do, but some of them can actually reduce a home's value.

25% of Home Sellers Slash Prices

Home shoppers across the nation have even a larger variety of discount real estate options to choose and recently information reveals that that 25 percent of all of the nation's home sellers have slashed their listing prices in July. This trend marked the fourth consecutive month of real estate discounting.

Rental Scams on the Rise

For years consumers have been debating between the roof over their head. Both shelter opportunities come with a variety of pros and cons and if you are leaning towards renting your next home, following the fateful words of "caveat emptor" is advisable.

Sears Getting Involved in Real Estate, Again

Sears Holding Company recently launched a commercial real estate website operating under the guise of SHC Realty. For those who are struggling with the concept of Sears in the real estate industry it is important to note that the retailer has been a strong proponent of the industry in the past.

Buy a Home, Get a Free Gift

For those financially poised to become a homeowner, now is the time to buy. Mortgage rates are at historic lows and home inventory is plentiful. Plus, homebuyers are slashing prices on their properties and even offering homebuyers free gifts with purchase.

Where to Buy Your Next Home

There has never been a home buying market quite like this. Mortgage rates are historically low, there is a surplus of property and homeowner's have been discounting their asking price to keep up the competitive market. Potential homebuyers are warned to look before they leap as not all home buying markets are created equally.

Unusual Homes for Sale (or Sold)!

Some people fantasize about living in a mansion, while other people long to live in a tiny home as cozy as a pea-pod. Either way, the nation is flooded with amazing real estate opportunities for every price range and Mortgage Marvel has found some interesting homes for sale around the world.

Home Prices Slashed Across the Nation

Thanks to the current economy, paying retail for a home is a fool's errand, especially when the national landscape is splatter with bargains in the form of highly discount properties. A recent report has shown that one in every four U.S. home sellers slashed the asking prices on their houses, making housing plentiful and affordable.

Tide Coming in on Underwater Mortgages

According to recent data, ownership of homes in negative equity situations had decreased to 11.2 million from 11.3 million at the end of 2009. The trend seems to be picking up speed as modest gains in home values were posted in some of the nation's hardest hit areas and because more of the underwater homes are being lost to foreclosure.

Real Estate Bust a Boon for Some Businesses

Even though the Great Recession lingers on, some businesses are actually booming courtesy of the economic retraction and some corporations are experiencing more activity and even larger profits as a whole.

Downward Spiral for Housing Market Set to Continue

According to mortgage giant, home prices are going to decline well into next year. According to former Federal Reserve Chairman Alan Greenspan, if the trend of a housing market value retraction condition continues, the movement will increase the odds of the nation entering a double dip recession.

$600M in Housing Aid Approved by Government

Unemployed homeowners in five states will soon be able to benefit from the $600 million in housing aid assistance recently approved by the government. The news was recently announced by the U.S. Treasury Department and North Carolina, Ohio, Oregon, Rhode Island and South Carolina are on point to assist residents of those states.

Countrywide's Legal Woes Linger On

Oh, how the mighty Countrywide financial institution has fallen from grace. The former lender (currently a subsidiary of Bank of America) was recently sued for racial discrimination against blacks and Latinos in Illinois. Attorney General Lisa Madigan filed the discrimination case earlier this summer. Recently the case was settled out of court to the tune of $600 million. This payout amount is currently the largest settlement amount to arise from the ashes of the mortgage mess.

All About Fannie Mae and Freddie Mac

Despite the government cash flow being funneled into Fannie and Freddie, the two behemoths were purposely excluded from provision made in the new financial reform bill recently signed into law by President Obama. On the surface, this may appear to make no sense as it appears that the Government is "sending good money after bad." Before judging the move too harshly, consumers need to know the facts behind the two agencies as well as what is being done to prevent them from having any future negative impact on the nation's economy.

Celeb Homes For Sale

Not everyone can be a celebrity, however with cash in hand, anyone can live the good life. One key ingredient essential to 'living large' is having the mega mansion property essential to living the glamorous life. Along with divorce and scandal, it appears that flipping large homes are the part of the celebrity package deal, and there are great celebrity homes for sale coast to coast.

Housing Recovery May Take Years

After reviewing home value indexes and the current wave of foreclosure activity, analysts believe that the real estate market will not fully rebound for years. New data has shown that some real estate markets have finally hit rock bottom, others are still waiting to fully slide into the abyss.

Welcome to Uncle Sam Realty

The high rate of foreclosure sweeping the nation is forcing the government to enter the real estate market. Those interested in becoming a homeowner may want to work with the realty firm of Uncle Sam. Presently, the government is the largest real estate owner in the nation courtesy of the recession and the mortgage meltdown.

Renting Making a Comeback

The recent real estate cycle of boom and bust have made many Americans rethink their home strategy. Although home ownership is still part of the American Dream, word on the street is that renting is becoming chic again.

Mortgage Tips: How to Save on Closing Costs

Although refinancing can indeed save you thousands of dollars over the lifespan of your loan, there are upfront expenses associated with the transaction, called closing costs. Closing costs are additional expenses associated with all mortgage transactions and consumers need to know what to expect in order to properly plan for their home purchase.

Home Buying Tip: Live Like a Star

Fantasizing about being rich and famous is one of the most common American pastimes. Thanks to the real estate market bubble bursting, prices on the largest and most luxurious homes have been slashed. Find out which of your favorite star's homes are currently on the market.

Homebuyers Tip: Avoid These Common Mistakes

For many, homeownership is still part of the American dream. Thanks to historically low mortgage interest rates many first time homebuyers are chopping at the bit to get in on the action. Newbies to the real estate game can easily fall victim to innocent mistakes. MortgageMarvel.com wants to let you know some common home buying mistakes.

Varieties of Home Sales

Not all property listings are created equally and potential homeowners need to learn about the variety of home sale opportunities so they can best choose the option that meets their needs.

Subprime Mortgages Become Scarce

To date, nearly 100 subprime mortgage lenders have failed, filed for bankruptcy or exited the subprime mortgage market and Wells Fargo is just the latest player withdrawing from the industry. As a result, subprime loans are becoming increasingly difficult to locate, and here is why.

Planned Communities with a Twist

Planned communities have been popular living choices way before the little houses made of "ticky-tacky" were developed in Levitttown Long Island. Manufactured environments have been sprouting up in the nation since the city of St. Augustine Florida first developed in 1565. Millions of people choose to live a sequestered life style behind the gates and walls of planned enclaves and although part of the reason is security, other enjoy the specific lifestyle attributes of their town

Home Buying Tip: Get McMansions at Value Menu Prices

Those who have always had taste for the finer things, but the limited income can buy them can now score sweet real estate deals on some of the highest, valued homes. Prior to the real estate burst, builders could not keep up with the demand for mega-mansions as people were craving the larger than average homes and their luxurious appointments. Now, those over sized properties are nearly a dime a dozen.

2010 Foreclosure Rate Expected to Eclipse 2009 Numbers

Currently the nation is on point to experience the highest foreclosure rates ever. According to data recently released by the foreclosure listing service, RealtyTrac Inc., approximately 528,000 homes were lost to foreclosure in the beginning of this year.

Limitations of the Home Affordability Modification Program

Based on conflicting media reports, consumers are completely baffled about whether or not to apply to the Government's Home Affordability Modification Program. MortgageMarvel.com explains if you do choose to proceed, what you need to look out for.

Home Seller's Tip: Sell Your Home on a Budget

Buying a home is generally the largest investment a person makes during their lifetime and they are very selective because of the process. In a competitive marketplace, home sellers need to do everything to entice a buyer.

The Stages of Foreclosure

Thankfully foreclosures do not happen overnight and there are tell-tale signs indicating when the situation will get worse. Instead of leaving the fate of being a homeowner to chance, read about all the stages involved in the complicated, legal process

Mr. Monopoly Leading Mortgage Default Trend

The well-to-do are some of the biggest contributors to the increased default rate. The theory behind the spike in the high-value strategic default trend is that the rich are cutthroat when it comes to dumping bad investments.

Home Buying Tip: Do Not Shop on Price Alone

RealtyTrac.com (foreclosed home specialists) reported that 31 percent of all all homes purchased in the first quarter of 2010 were foreclosed properties that were sold for 27 percent less than current market value. However, price should not be the first factor considered in the home purchasing process.

Long Live the American Dream of Homeownership

Even though the country's economy is still shaken from the mortgage meltdown, 65 percent of Americans still believe in the American dream of owning the roofs over their heads. Despite recent market trends two-thirds of Americans still want to become homeowners.

Low Mortgage Rates Shockingly Resistible

Mortgage rates are at historic lows and are at their lowest levels in nearly 50 years (4.58 percent average rate for conventional 30-year fixed loan). Despite the news, very few people are taking advantage of the home loan opportunities.

Before You Buy, Things to Consider When Home Shopping

Buying a new home can be both exciting and overwhelming. Here are some smart home buying tips that will keep you grounded and ensure the start of a long and happy life-time in your new home.

US Regulators Propose Helping to Stem Foreclosures

The nation is still plagued with high foreclosure statistics. U.S. bank regulators announced their proposal to help communities better handle the foreclosure levels weakening the locally based infrastructures.

Glitches Exposed in Home Affordable Modification Program

A government audit of the Home Affordable Modification Program (HAMP) has indicated that "thousands" of applicants were wrongly denied the opportunity to refinance their mortgages. HAMP has been a major component in the economic stimulus plan devised and implemented by the Obama Administration and was developed to to stop the foreclosure epidemic.

Housing News: Home Prices Rise for First time in 7 Months

According to the the latest Case-Shiller Index report, home prices have risen for the first time in the past 7 months. Stimulated by the home buyers credit, the future of the housing market is still uncertain, however there are still bargains to be had.

How Will Financial Reform Help You?

A new Financial Reform bill to protect consumers is in the works. Find out the latest news and how the new laws can affect your life.

Foreclosed Property Purchasing Tips

Buying a foreclosed home can save you thousands of dollars if you know what you are doing. Before getting involved in the process, learn what type of foreclosed property opportunities you should avoid.

Which is Better: Renting or Buying a Home

Basic shelter is a necessity, but whether you rent or buy your home is up to you! Only by weighing the pros and cons can help you decide what options is best for your needs.

Home Sales Damper Economic Recovery

The economic recovery efforts have just been dealt another blow thanks to the recent statistics showing a 33 decrease in new home sales and a drop in the stock market.

Federal Mortgage Assistance Failing Those Most in Need

President Obama's Home Affordable Modification is faltering and more people are dropping out of the program as opposed to finding the help they need.

Jumbo Loan Basics

The more expensive the property, the bigger the mortgage. Jumbo mortgages is one way to finance the purchase and we explain the good, bad and the ugly.