Rate Reset for Some Homeowners May Trigger Defaults

Posted on 03/12/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsThe home foreclosure crisis that swept through the nation during the Great Recession may not be over for thousands of troubled borrowers. Some homeowners who sought help from the government’s Home Affordable Modification Program (HAMP) are about to see their mortgage payments rise this year. In some cases, those payments could eventually go up by more than $1,000 a month, according to the Washington Post. The loan modification program lowered monthly mortgage interest rates for some 1.3 million at-risk homeowners …

To Avoid Shelter Skelter, Beware of Property Tax Reassessment Offers

Posted on 07/11/2013 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsFor many homeowners, property tax bills are mailed in July or August. So now’s the time to watch out for an annual come-on that can ding your bank account: offers to help you pay less in property taxes by getting a property reassessment. Before you bite, know how you can get bitten. First, realize how these offers work: Private companies simply charge $200 or more for what you can do yourself, often for free — filing paperwork at the local …

Future Housing Market Depending on Boomers

Posted on 01/24/2013 by | Home & Family blogger | Comments

Money & SavingsLAS VEGAS – The National Association of Home Builders says the future housing market will depend heavily on baby boomers. Paul Emrath, vice president of survey and housing policy research for NAHB, expects the number of single-family housing starts in 55+ communities to increase 22 percent this year and an additional 20 percent in 2014. This demographic will also contribute to 50 percent of all multi-family housing starts in 2014. “We expect to see an increased demand for 55+ housing as …

The Takeaway: Local Governments Seize Homes Over Tiny Tax Debts

Posted on 07/10/2012 by | Brooklyn, NY | Comments

Bulletin TodayOwing as little as $400 in unpaid property taxes has gotten some American homeowners booted from their houses, according to a report released today by the National Consumer Law Center.

The Takeaway: New Refinancing Help For ‘Underwater’ Homeowners; Stretching Helps Chronic Back Pain

Posted on 10/25/2011 by | Brooklyn, NY | Comments

Bulletin TodayHelping Homeowners Tread Water: Meeting yesterday with distressed homeowners in Las Vegas—the ‘foreclosure capital of the nation’—President Obama unveiled a plan to allow homeowners who owe more than their properties are worth to refinance mortgages at today’s low rates, which are hovering near 4 percent. If you think this has shades of 2009 all over it—well, you’re right: The new plan is a revised version of the previous Home Affordable Refinance Program—which didn’t have as much effect as the administration would …