| Increase in Foreclosed Homes Suggest Strong Buyer's Market
With interest rates rising on adjustable rate mortgages, an increasing number of homes are being foreclosed. GuideToRealty.com reports that delinquency rates on certain loans have risen above 3 percent, creating an ideal market for both real estate investors and potential homebuyers (http://www.guidetorealty.com/calculators/index.jsp). San Francisco, CA (PRWEB) August 17, 2006 -- A feature article on GuideToRealty.com suggests that the foreclosed homes sector of the realty market is now a strong market due to the increase in delinquency rates (greater than 3 percent) on high risk home loans (http://www.guidetorealty.com/calculators/foreclosedhomes.jsp). This is partially attributable to interest rates on adjustable rate mortgages (ARMs) having risen over three full percentage points since the historic low of 3.25 percent in June 2004.
Refinancing: Don't Waste Time Wondering, Just Do It
If you're not changing the term of your loan ... even dropping your rate by an eighth makes sense because you did not have to change anything to get a loan," says Bob Walters, chief economist for Quicken Loans. "It always pays to get a lower rate." Say the current balance of your 6.5%, 30-year fixed mortgage is $250,000 and you are making monthly payments of $1,580. If you refinance into a loan of the same size that's one percentage point lower, 5.5%, you've dropped your monthly payments by about $160 to $1,420. But let's say you want to take out extra cash to pay off $20,000 in credit card debt: You'll need a new loan of $270,000. And even with that higher amount, your monthly payments are still reduced about $50 from your current payments to $1,533 a month. To determine how your monthly mortgage payments will differ under a new loan, use a mortgage-refinance calculator to determine the savings you might receive.
CAA Savagely Dumps Homophobic Shock Jock While Coulter Raises Cash for ...
Ed Morrissey of the conservative blog Captain's Quarters has issued the following open letter, reprinted at a number of conservative blogs and excerpted here: Ann Coulter used to serve the movement well. She was telegenic, intelligent, and witty. She was also fearless: saying provocative things to inspire deeper thought and cutting through the haze of competing information has its uses. But Coulter's fearlessness has become an addiction to shock value. She draws attention to herself, rather than placing the spotlight on conservative ideas. At the Conservative Political Action Conference in 2006, Coulter referred to Iranians as "ragheads." She is one of the most prominent women in the conservative movement; for her to employ such reckless language reinforces the stereotype that conservatives are racists.
|
