Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance.
States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value.
Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record.
President Obama's latest probe into the mortgage meltdown will have more power than past efforts, and federal officials say it won't derail a possible $20 billion settlement for underwater and foreclosed homeowners.
The Obama administration on Wednesday detailed its latest plan to help millions of homeowners refinance their mortgages to today's historically-low rates.
Investors are racing into REITs that promise higher yields than equity REITs. But be forewarned, the higher yields of these other types of real estate vehicles come with very real risks.
You'd think that investors would be leery of companies that own and manage commercial real estate. Vacancy rates remain elevated in office buildings and shopping centers. Except for apartment buildings, rents really haven't grown at all in four years. And given the possibility that the global economy may retrench yet again, things could still get worse before they get better.
Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors.
Florida's cities were some of the hardest hit by the housing bust, but now they are leading the charge back. Of Realtor.com's top 10 turnaround towns, eight are in the Sunshine State.
Home prices posted a steep, month-over-month drop in November, falling 1.3%, according to the latest S&P/Case-Shiller 20-city report. Prices fell in 19 of the 20 cities the index covers.
