Click here to view full article on Marilyn Monroe's house!
Thursday, August 26, 2010
Would you Live in This Barn??
Here is a $2.45
million barn
like home in
Austerlitz, NY.
A four bedroom, five bathroom home on 72 acres in a rural community 120 miles north of New York City.
This 2008 barn like home is made in 2 different sections: one farmhouse like structure and one built like to look like a barn, which are connected by a glass atrium entryway.
Would you live here for $2.45 million??
resources from: wall street journal/real estate
Wednesday, August 25, 2010
Mortgage Rates Amazingly Low, Continue to Fall
30-year fixed mortgage rates are now at 4% for well-qualified borrowers who pay .07 to 1 point origination shows FreeRateUpdate.com research of wholesale lenders' interest rate sheets. 15-year fixed mortgage rates are at 3.5%. Both fixed mortgage rates, which continue to decline, are at all time record low levels.
FHA mortgage rates remain at similar levels to conforming rates. FHA 30-year fixed loan rates are at 4%; however, APR on an FHA loan at 4% is quite higher than that of a conforming mortgage at the same note rate. Why? MI at 2.25% of the amount financed and other FHA fees drive up closing costs.
Jumbo mortgage rates, which have declined significantly in recent weeks, are also at all time record lows. Today's 30-year fixed jumbo loan rate is 5.125%.
Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, continue to do well amid ongoing uncertainty in the economy. MBS prices rose again to begin this week, stabilizing rates at their current levels.
Despite rates being amazingly low, purchase applications remain weak. Refinance applications on the other hand have spiked and are at a 15 month high.
Published: August 25, 2010 by Ed Ferrara
Thursday, August 19, 2010
Superman, Save Our House! Top 5 Craziest Foreclosure Rescue Attempts
Published: August 2, 2010
Treasure hunting, demolition, forgery—even a telethon. Our picks for the top five most bizarre foreclosure rescue attempts.
Three years after the recession hit, Americans still are losing their homes to foreclosure in record numbers. Not even celebrities are immune. Wanting to do anything you can to avoid losing your home is only natural. There are a wealth of resources on HouseLogic to help you take action. Still, some homeowners have tried other, less-proven methods.
Here’s a countdown of some outlandish foreclosure rescue attempts:
5. I pimped my yard to PETA.
This past March, “Octomom” Nadya Suleman was reportedly approached by PETA when word got out about her mortgage woes. The offer: A billboard sign urging pet owners not to let their dog or cat become an “Octomom” in a campaign to raise awareness about controlling the pet population. Suleman ended up letting PETA advertise on her front yard for $5,000. In April, Suleman reached an agreement with the mortgage holder for a sixth-month extension to pay off the $450,000 debt.
This past March, “Octomom” Nadya Suleman was reportedly approached by PETA when word got out about her mortgage woes. The offer: A billboard sign urging pet owners not to let their dog or cat become an “Octomom” in a campaign to raise awareness about controlling the pet population. Suleman ended up letting PETA advertise on her front yard for $5,000. In April, Suleman reached an agreement with the mortgage holder for a sixth-month extension to pay off the $450,000 debt.
4. God made me do it.
Earlier this month, a Montana man, Brent Arthur Wilson, was convicted for removing For Sale signs and forging ownership papers on a foreclosed home in a bizarre effort to keep a roof over his head. During his trial, Wilson claimed that “Yaweh,” or “the creator,” gave him the home. The jury was out for less than an hour before finding Wilson guilty. He now faces up to 30 years in prison and is scheduled to be sentenced August 19.
Earlier this month, a Montana man, Brent Arthur Wilson, was convicted for removing For Sale signs and forging ownership papers on a foreclosed home in a bizarre effort to keep a roof over his head. During his trial, Wilson claimed that “Yaweh,” or “the creator,” gave him the home. The jury was out for less than an hour before finding Wilson guilty. He now faces up to 30 years in prison and is scheduled to be sentenced August 19.
3. Buy my T-shirt, save my house.
To raise the $250,000 he needed to avoid foreclosure on his Port Washington, Wis., pad, former Saved by the Bell star Dustin Diamond sold T-shirts with his photo and a caption reading, “I paid $15 to save Screeech’s house.” (The extra “e” in “Screeech” was to get around copyright laws.) The down-on-his-luck comedian turned his money problems into a publicity ploy, telling his story on The Howard Stern Show and even scheduling an online telethon to raise more money. The appearance was canceled moments before it went on the air. Despite all that, it looks like Diamond is still going to lose his home. Wells Fargo started foreclosure proceedings in April.
To raise the $250,000 he needed to avoid foreclosure on his Port Washington, Wis., pad, former Saved by the Bell star Dustin Diamond sold T-shirts with his photo and a caption reading, “I paid $15 to save Screeech’s house.” (The extra “e” in “Screeech” was to get around copyright laws.) The down-on-his-luck comedian turned his money problems into a publicity ploy, telling his story on The Howard Stern Show and even scheduling an online telethon to raise more money. The appearance was canceled moments before it went on the air. Despite all that, it looks like Diamond is still going to lose his home. Wells Fargo started foreclosure proceedings in April.
2. If I can’t live here, no one can.
This past February, Ohio carpet business owner Terry Hoskins decided that he’d rather bulldoze his $350,000 house to the ground than let the bank have it. Hoskins also basically confirmed that he’d do the same to his carpet store if he had to. Thankfully, it didn’t come to that. Although Hoskins didn’t technically break any laws, the bank did hold a sheriff’s auction of his business property to pay off the $600,000 debt he owed.
This past February, Ohio carpet business owner Terry Hoskins decided that he’d rather bulldoze his $350,000 house to the ground than let the bank have it. Hoskins also basically confirmed that he’d do the same to his carpet store if he had to. Thankfully, it didn’t come to that. Although Hoskins didn’t technically break any laws, the bank did hold a sheriff’s auction of his business property to pay off the $600,000 debt he owed.
1. Superman saved our house.On a more positive note, a rare comic book (an Action Comic #1—the issue that introduced Superman to the world) was recently found in the basement of a couple facing foreclosure. Although it hasn’t been valued yet, Stephen Fishler, co-owner of ComicConnect.com, guarantees that the comic will bring in more than enough to pay off the mortgage at auction time. Other rare finds like this have been valued at more than $1 million.
The NATIONAL ASSOCIATION OF REALTORS® is dedicated to providing resources that help families facing foreclosure take every step they can to keep their home. To find out how to (legitimately) fight foreclosure, visit the HouseLogic Foreclosure Resource Guide.
Monday, August 16, 2010
Real House Foreclosures of New Jersey: How Teresa Giudice Should Save Her Home
Real House Foreclosures
of New Jersey:
How Teresa Giudice
Should Save
Her Home
Published: August 10, 2010
The New Jersey housewife may be in foreclosure on her dream home. But has she done everything she can to avoid it?
Before she was shilling for Garden State tanning chains Sizzle Tan, spokeswoman Teresa Giudice was a big-spending Real Housewife living comfortably in a North Jersey estate. So when she suddenly filed for bankruptcy in October, it sent the gossip press into a frenzy. Known for dropping $2,000 in ten minutes on shopping sprees, it was no big surprise that Giudice and her husband found themselves $11 million in the hole. Then rumors began to circulate that her multi-million dollar North Jersey mansion is in foreclosure. Whether or not Villa Giudice is on the block, there are steps to avoid it. If you ever find yourself in a similar position, be sure to consider these alternatives.
Contact the lender
When facing foreclosure, you have options. But one thing that isn’t optional is talking to your lender. The last thing a lender wants is to foreclose on a property, so start discussions with your lender about your choices. Hopefully Giudice was smart enough to pick up the phone and try to make arrangements to keep her Garden State Shangri-La.
Compromise
Lenders are often willing to work with you. That can mean modifying your loan, selling the property, or suspending payments temporarily to give you time to raise funds. In Teresa’s case, it could give her time to sell a boatload of her cookbooks.
Short sale
When your house is worth less than what you owe, you could opt for a short sale if your lender agrees. If that’s the case for the Guidices, it could work in their favor since, despite 12,000 square feet and a sea of marble and onyx, their estate clocks in at a mere $1.8 million.
Deed in lieu
While just as damaging to your credit score as foreclosure, you could ask your lender to cancel your mortgage in exchange for the deed to your house. And thanks to the new Home Affordable Foreclosure Alternatives Program (HAFA), you could get as much as $3,000 to help with relocation expenses. Which, for Teresa, equates to a solid 15 minutes at the local shopping mall.
If you’re facing foreclosure, be sure to explore our extensive foreclosure guide for more info. Or, if you’re in no financial trouble at all, you might consider placing a bid on everything from a 20-foot speed boat to a suit of armor in the Giudice bankruptcy auction.
Read more: http://www.houselogic.com/articles/real-house-foreclosures-new-jersey-how-teresa-giudice-should-save-her-home/#ixzz0wnZ7sRsD
The New Jersey housewife may be in foreclosure on her dream home. But has she done everything she can to avoid it?
Before she was shilling for Garden State tanning chains Sizzle Tan, spokeswoman Teresa Giudice was a big-spending Real Housewife living comfortably in a North Jersey estate. So when she suddenly filed for bankruptcy in October, it sent the gossip press into a frenzy. Known for dropping $2,000 in ten minutes on shopping sprees, it was no big surprise that Giudice and her husband found themselves $11 million in the hole. Then rumors began to circulate that her multi-million dollar North Jersey mansion is in foreclosure. Whether or not Villa Giudice is on the block, there are steps to avoid it. If you ever find yourself in a similar position, be sure to consider these alternatives.
Contact the lender
When facing foreclosure, you have options. But one thing that isn’t optional is talking to your lender. The last thing a lender wants is to foreclose on a property, so start discussions with your lender about your choices. Hopefully Giudice was smart enough to pick up the phone and try to make arrangements to keep her Garden State Shangri-La.
Compromise
Lenders are often willing to work with you. That can mean modifying your loan, selling the property, or suspending payments temporarily to give you time to raise funds. In Teresa’s case, it could give her time to sell a boatload of her cookbooks.
Short sale
When your house is worth less than what you owe, you could opt for a short sale if your lender agrees. If that’s the case for the Guidices, it could work in their favor since, despite 12,000 square feet and a sea of marble and onyx, their estate clocks in at a mere $1.8 million.
Deed in lieu
While just as damaging to your credit score as foreclosure, you could ask your lender to cancel your mortgage in exchange for the deed to your house. And thanks to the new Home Affordable Foreclosure Alternatives Program (HAFA), you could get as much as $3,000 to help with relocation expenses. Which, for Teresa, equates to a solid 15 minutes at the local shopping mall.
If you’re facing foreclosure, be sure to explore our extensive foreclosure guide for more info. Or, if you’re in no financial trouble at all, you might consider placing a bid on everything from a 20-foot speed boat to a suit of armor in the Giudice bankruptcy auction.
Read more: http://www.houselogic.com/articles/real-house-foreclosures-new-jersey-how-teresa-giudice-should-save-her-home/#ixzz0wnZ7sRsD
Thursday, August 12, 2010
New technology for New Listings!
This is why I have voicepad on my NEW listing! Call to check it out!
#(615) 622-2101-#3153
#(615) 622-2101-#3153
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