This was originally published in Jun 2006, and what it describes was indeed that pin. The housing bubble is not the primary focus of this website, but to pretend it does not exist is plainly wishful thinking. One of the ongoing phenomenon that have been driving the bubble is the “Stated Income”loan, where the lender …
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The Effects of Divorce on Real Estate
The bottom line on this question is always, “Whatever the courts say.” Divorce law is complex, and different from state to state, and even when you think you’ve got a clear message in the law as written, the courts may interpret it differently, or there may be precedent that says otherwise, or even just some …
Legal Late Payments on Your Mortgage
(I have noticed a fair number of hits to this article that, judging by their search query, probably want the article on What Happens When You Can’t Make Your Real Estate Loan Payment instead) I got a question about legal late payments in California. Unfortunately, there really is no such thing as a legal late …
Housing Bubble Death Trap
That was the wording of a search engine hit I got. It’s not literally a death trap, of course, only much financial pain. But the hyperbole is forgivable in today’s modern society and the state of the current market. Other people may have other definitions of “housing bubble death trap,” but when I’m talking about …
Homesteading and Declaration of Homestead
One topic I haven’t covered yet here is homesteading. This has nothing to do with the Homestead Act of 1862 that encouraged settling the western United States. A declaration of Homestead basically protects your equity. In many cases, you may not even have to file a declaration to receive the benefits, but whether this is …
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Failures of Imagination?
I recently discovered the film Secondhand Lions. Robert Duvall, Michael Caine, and Haley Joel Osmont. Beautiful tightly plotted movie, highly recommended, and if it hadn’t been up against Return Of The King it might have won Best Picture. Robert Duvall and Michael Caine are a pair of brothers, old coots who disappeared for forty years …
Buyer’s Basic Guide to The Foreclosure Market and REOs
I’ve written articles on when you can’t make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented. This is intended as a basic buyer’s guide to getting a bargain from people who …
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Shopping for Long Term Care Insurance – Who Should and Shouldn’t Buy, and Policy Characteristics
I’ve run two prior articles this week on the theme of Long Term Care, one on Long Term Care Issues, and one on Non-Tax-Qualified versus Tax-Qualified, and Partnership Insurance Policies. Now, I’m getting down to nuts and bolts of what you need to know while shopping for a policy. The two most important characteristics are …
Read The Full Note
Just got a search “how can I tell if my prepayment penalty applies to selling my home” Read The Full Note. You need to do this before you sign it. I know that many people are just thinking “Sign this and I get the house!” or “Sign this and I get the money!” but a …
Practical Applications: Credit Cards versus Home Equity Line Of Credit
You raise a lot of issues. Some I’m going to deal with very quickly, others I’m going to spend some effort on, but nothing as in depth as a full article would have. I’m going to keep referring to material found in Credit Reports: What They Are and How They Work I’m going to take …
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