From the monthly archives:

August 2010

Originally found at Wanna Network Home ownership rates have increased from 25% in the early 1900s to 67% in 1999. During all these years, many home buyers struggled to come up with a down payment. Years ago, in some cases, the banks required as much as a 50% down payment before they would give them [...]

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Originally found at The Telegraph More than eight out of 10 first-time buyers only get onto the property ladder because they receive a cash handout from the Bank of Mum and Dad, it has been disclosed The alarming statistics reveal the virtually impossible dream of anyone trying to own a home without financial support from [...]

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The city of Philadelphia is demanding money from bloggers who were honest enough to report the meagerest – $11, $50 – of revenue from ads or donations. According to the law, any blogger who enables advertising is required to register as a business, pay for a license and pay taxes on their profits no matter [...]

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7 Must-Have Real Estate Contract Conditions

August 25, 2010 1st Time Homebuyer

Originally found at SFGate Finance Terms If you are like most people and you won’t be able to buy the home without obtaining a mortgage, your purchase offer should state that your offer is contingent upon obtaining financing at a specified interest rate. If you know you can’t afford the monthly payment on the house [...]

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Pay Off Your Mortgage Early Or Invest Your Extra Money

August 24, 2010 Money

If you finally get a little breathing room in your budget, you may find yourself with some extra money at the end of the month. Should you invest those extra funds or start to paying off your mortgage early? Many professional money managers have weighed in on this debate with mixed results and recommendations. Here [...]

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Deflation

August 23, 2010 Money

Originally found at news press DEFLATION: The opposite of inflation, a gradual drop in the cost of goods and services usually caused by a surplus of goods and a shortage of cash, which leads to unemployment, recessions and depressions. So, before you applaud the fact that the cost of a new car has fallen or [...]

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Friday’s thoughts Aug 20th why I don’t predict rates

August 20, 2010 Friday's Thoughts

There are a lot of people out there with blogs that try to predict what rates will do. It is our human nature to try and look smarter than what we are. Mo body can predict what interest rates will do for the future much less the next week or month. This is what I [...]

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smartphones to replace credit cards

August 19, 2010 Technology

 Originally found at cnn money AT&T, Verizon and T-Mobile are teaming up to compete with credit card companies by allowing customers to pay for products by waving their smartphones, according to a Bloomberg report. Rather than swiping credit cards, wireless customers could simply place their phone in front of a wireless reader. The technology [...]

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eSignatures Come of Age

August 18, 2010 Technology

Orginally found at realty times What a difference a decade makes. Since Congress enacted the Electronic Signatures in Global and National Commerce Act, (ESIGN) on June 30, 2000, real estate brokers and agents are getting contracts, disclosures and other important documents signed electronically, saving time, money and their sanity. See: http://www.ftc.gov/os/2001/06/esign7.htm In the time it [...]

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FHA Releases More Details on Program Aimed at Upside-Down Borrowers

August 17, 2010 Underwater Homeowner

Originally found at news The Federal Housing Administration (FHA) published a new mortgagee letter on Friday laying out the details of enhancements to its Making Home Affordable Program (MHA) and its own refinance program aimed specifically at “upside-down” homeowners.  The changes were first announced on March 26 and will take effect on September 7. The [...]

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