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Archive for: February, 2010

Hidden costs in short sales

Hidden costs in short sales

ShareHome Sale Hindsight
Tara-Nicholle NelsonInman News
Q: I’m about $150,000 upside down on my house, and I have been trying to do a short sale. I had a contract to sell it to a buyer who is well-qualified and has been waiting patiently for several months while we awaited approval from my mortgage lender. [...]

If ARM ain’t broke, don’t fix it

If ARM ain’t broke, don’t fix it

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Tara-Nicholle NelsonInman News
Q: I just got a letter from my mortgage lender offering me a 6.5 percent fixed interest rate on my home equity line of credit balance, which is right around $100,000 and is the only debt I have on my $500,000 home. My family and friends think that’s [...]

Court: No fraud in refi to a higher rate

Court: No fraud in refi to a higher rate

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Tara-Nicholle NelsonInman News
Homeowners Patricia Ostolaza-Diaz and Jose Luis Diaz-Goyes had two Bank of America mortgages plus a home equity line of credit, also with Bank of America, on their Virginia home, according to court documents.
They reportedly received an unsolicited call from a mortgage broker who claimed he was [...]

Book Review: Get Financially Naked

Book Review: Get Financially Naked

Authors Manisha Thakor and Sharon Kedar boldly declare, ” ‘Get Financially Naked’ will empower you to live the life that makes your heart sing — on your own and in the context of your romantic relationship.”

Return of the subprime credit card

Return of the subprime credit card

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Tara-Nicholle NelsonInman News
The Associated Press article headline screamed: "Newest credit card trick: 79.9 percent interest."
I’m not sure if the word "trick" was an attempt at a pun on card trick or meant to suggest a trick as in the opposite of a treat. But so often today, we use [...]

A triple whammy for townhouse buyer

A triple whammy for townhouse buyer

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Tara-Nicholle NelsonInman News
Q: I’ve made an enormous mistake. I bought the wrong house! I plotted and planned and dreamed about buying a low-maintenance townhouse in a small complex, really private and an easy commute to work and church. And I bought that — there’s only three units in my [...]

HOA defaults derail financing

HOA defaults derail financing

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Tara-Nicholle NelsonInman News
Q: I’m looking to buy my first home, and I found this one condo complex in town that I fell in love with. They are only a couple of years old, but they’re selling for about half of what they sold for when they were new — and [...]

Billboard vs. city: winner takes all

Billboard vs. city: winner takes all

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Tara-Nicholle NelsonInman News
In the case Burkhart Advertising Inc. v. City of Fort Wayne, Burkhart leased property on which to install a billboard. The 10-year lease provided that, if Burkhart were forced to remove its billboard due to condemnation, it would be entitled to damages from the governmental entity [...]

Market forces: a comedic look

Market forces: a comedic look

ShareBook Review: ‘The Cartoon Introduction to Economics’
Tara-Nicholle NelsonInman News
Book Review Title: "The Cartoon Introduction to Economics: Volume One: Microeconomics" Authors: Grady Klein and Yoram Bauman, Ph.D. Publisher: Hill and Wang, 2010; 224 pages; $17.95
Comedy and economics are typically mentioned in the same breath only to invoke the [...]

Selling the ‘walkability’ factor

Selling the ‘walkability’ factor

ShareMood of the Market
Tara-Nicholle NelsonInman News
With homes, most property characteristics that are attractive to some buyers hold the potential to turn others off.
Swimming pools promise exercise and recreation to some, but loom as a dangerous nuisance and maintenance problem to others. Some buyers think gated communities are tony and prestigious, [...]

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