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From Negative Equity 2.5M Mortgages Emerge

More home owners are edging above water with their mortgages: 2.5 million U.S. properties emerged from underwater or negative equity in the second quarter, according to CoreLogic. The total number of residential properties with a mortgage with equity stands at 41.5 million. However, some home
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Home Ownership Barriers Vary by Age

Many Americans are still facing obstacles in buying a home. But depending on the age group, the biggest hurdle can be quite different, according to the Country Financial Security Index, which measures Americans’ sentiments on personal financial security. For example, members of Generation Y as
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Under HAMP more Homeowners are Receiving Principal Reductions

As of September, more than 1.2 million homeowners have received a permanent modification through the Home Affordable Modification Program (HAMP), according to Treasury Those granted permanent relief through HAMP are saving approximately $547 on their mortgage payments each month--almost a 40
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Stellar jobs report is downer for housing

Employment is good for housing. No question. But it is just not as simple as that when it comes to today's unique housing recovery. This recovery needs more construction, more jobs for younger Americans, and more credit. Friday's October jobs report provided none of that. Employment among 25- to
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The Richest Real Estate in the World

The title “world’s richest piece of real estate” may conjure up images of Rodeo Drive, the French Riviera or New York City’s Fifth Avenue, but it may actually be located in … Botswana. According to Debswana, a mining conglomerate jointly owned by De Beers and the Botswana government,
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5 questions to help you choose between a 30-year mortgage or 15 – Part 6

Do you have a strict savings plan? Choosing a 15-year mortgage over a 30-year mortgage also may be a worthwhile choice if you are not a disciplined saver. But many people may lack the discipline needed to save long-term, Cecala noted, especially in amounts that would offset what they would save
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5 questions to help you choose between a 30-year mortgage or 15 – Part 5

Are you planning on retiring soon? How close a borrower is to retiring plays a major role in whether to take out a 15-year mortgage. Typically, borrowers who take 15-year mortgages are at least 40 years old, according to Cecala. These borrowers are often willing to pay off the balance on their
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5 questions to help you choose between a 30-year mortgage or 15 – Part 4

Are you looking to refinance? If you already have a mortgage and would like to refinance, now may be a good time. Cecala noted that if your current payments on a 30-year mortgage are high enough, you might be able to refinance into a 15-year mortgage and make similar monthly payments while
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5 questions to help you choose between a 30-year mortgage or 15 – Part 3

Are you buying your first home? First-time home buyers often benefit from selecting a 30-year mortgage because the monthly payments are lower. A longer-term mortgage can make a more expensive home more affordable for a new buyer. According to Cecala, most first-time home buyers "are trying to
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5 questions to help you choose between a 30-year mortgage or 15 – Part 2

Can you afford to pay off the mortgage in 15 years? Although a 15-year mortgage offers a lower rate relative to a 30-year mortgage, thereby allowing borrowers to pay interest for only half as long, a 15-year mortgage comes with a higher total monthly payment. This is because the principal must
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