February 11, 2012
This is a fascinating chart from the Wall Street Journal. We’ve known for awhile the Albany NY real estate market has been relatively insulated from the home foreclosure crisis. New York’s foreclosure rate is roughly 10% of the current homes for sale. By comparison, one of the worst states is Nevada – 50% of all homes for sale are […]
Posted in Albany, General, Market, Mortgage, Saratoga
January 1, 2012
As we are in the post housing-market-crash era, banks have taken a greater interest in reviewing mortgage applications. Motivated in part to ferret out fraud, banks are looking closer at applications to avoid lending to unqualified buyers. According to the New York Times, banks’ new efforts have lead to a 40% reduction in fraudulent mortgage […]
Posted in Buying, General, Mortgage | Tagged Application, Home Buying, Mortage
November 22, 2011
I consider myself to be a fiscal conservative. But can you be conservative and still carry mortgage debt? Of course, mortgage debt in and of itself isn’t bad. Certainly our tax code rewards mortgage debt, unlike other debt such as credit card debt. However, the question becomes whether home owners should aggressively pay down their […]
Posted in Buying, General, Market, Mortgage | Tagged Debt, Investment, Mortgage, Tax Deduction
November 6, 2011
This is an interesting development on the mortgage financial front. The WSJ is reporting that over 4.5 million homeowners who were in some state of foreclosure during the past two years may be eligible for financial compensation. The compensation would come only after a review by the Office of the Comptroller of the Currency and the […]
Posted in Buying, General, Market, Mortgage | Tagged Foreclosure, Fraud, Mortgage
