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24 Nov If You Own A Home Then You Are Probably Upside Down In The Property.

In an article this week featured in Default Servicing, Carrie Bay reports that one in every four homes is upside down. Upside down means you have absolutely no equity in your home. For example the principal amount due and owing on the mortgage is $100,000 but the property value is only worth $90,000. In this example your property value would have to regain $10,000.01 to have any amount of equity. The five heaviest states that are suffering these upside down properties are Arizona, California, Florida, Nevada and Michigan. However the upside down nature of the real estate market can be felt nationwide. Inflated appraisals, the recession and over extended debtors provided the perfect environment for the bottom to fall out in housing market. As of today the crisis is not only hitting us every day folk but for the first time it is hitting the rich and/or famous.
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10 Nov How Much Did The Health Care Debate Cost This Week?

The headlines yesterday all carried the same story. The Health Care Bill passed by the House of Representatives died. Life support cannot save this Bill. So, why did our elected officials go through the motions knowing that the Bill did not have a chance of passing in the Senate? Do you think they already knew the Bill would not pass in the Senate? Sure they did. However, it is the way Washington works. The Democrats were allowed to flex their muscles for a while. I don't really care about who appears macho this week. I care about the cost of appearing macho.
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02 Nov Short Sales in Southwest Florida – The Latest News Part II

Our second key player in the short sale process is the homeowner. Obviously, the homeowner is the one player with the most at risk. By the time they are entering the short sale process, not only are they significantly underwater on their homes, now they are also at least three months behind on their mortgage payments. Therefore, they want to get the highest sale price as they can to avoid a potential deficiency claim later. So, the homeowner is definitely in favor of a bidding war on their homes and would welcome multiple offers, despite the amount of work it would create for a seller's agent, buyer's agent or the mortgage company.
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26 Oct Better Business Bureau and Identity Theft Prevention–Not Just An Agency To Call To Complain

In recent weeks, the Better Business Bureau has been in the news stressing ways that consumers can protect themselves against identity theft.  (see Denver Post blog citing a press release from a Susan Johnson of the BBB)*.   Now, the BBB joined forces with the National Foundation of Credit Counseling (NFCC) last week and launched the 2nd annual National Protect Your Identity Week (PYIW) October 17 – 24, 2009.   The BBB also held a Secure Your ID day on October 17, 2009.  The Better Business Bureau also set up a website for the public at http://www.protectyouridnow.org/ 
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20 Oct What is a VA loan?

A VA loan is a loan guaranteed by the Veteran’s Administration. In consideration for the lenders’ participation in the profits and guarantees of the government-insured loan program, the lender agrees to provide certain loan servicing functions as described in the VA’s Lender Handbook. The servicing...

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