Credit Crisis Content Index - Page 1

The credit crisis is making financial matters difficult for everyone. Foreclosure and unemployment rates are on the rise, banks are failing and lenders are requiring stricter guidelines and more documentation. Come here for updates on the credit crisis and advice for what you can do to improve your financial situation.

**Short Sale vs Foreclosure: Which One Can You Get To Close Faster** When you are out shopping for a home are you better off looking for a seller doing a short sale or buying a home that has been foreclosed on by the bank. In a short sale you will deal with the owner of the home but will be at the mercy of the bank but in a foreclosure, you will be dealing directly with the bank trying to sell the home in the open market.

FHA cash reserves fall to the lowest level in history, below the congressionally mandated level. The Federal Housing Administration's mortgage insurance cash reserves fell to the lowest levels in recorded history, 0.53 percent. The FHA announced today FHA cash reserve levels have fallen below the congressionally mandated threshold. The annual independent accounting survey of the FHA came with the assessment that additional action needed to be taken to manage risk to prevent further losses.

Ilyce Glink Show Notes - November 8, 2009. Big news week: $8,000 first time home buyer tax credit was expanded to include trade-up buyers, and extended until June 30, 2010; Unemployment numbers are out and awful: Nationally, unemployment rose to 10.2 percent, 17.5 percent if you include a broader measure of unemployment; Fannie Mae introduced its Deed For Lease program; Five more banks closed, bringing the total for the year to 120; the House passed health care reform. NEW EBOOKS ON INVESTING IN REAL ESTATE ARE AVAILABLE; Get your FREE books and Ebook deal.

**Jobs, Foreclosures, The Stock Market And More Thoughts About Our Wacky World.** If we don't have jobs, it's awfully hard to pay a mortgage. More foreclosures may be on the way, according to the one person who I knew correctly called the financial meltdown.

Ilyce Glink Show Notes - November 1, 2009. How has the credit crisis and recession changed you and your spending habits? I want to hear from you. Free books and ebook deal. This week, our latest ebooks, on investing in real estate, will be released on ThinkGlink.com as will our podcasts from our How to Profit From Foreclosures event. Sign up for our free weekly newsletter to get the latest information, discounts and deals.

$8,000 Tax Credit: Administration Calls on Congress To Pass $8,000 Tax Credit And Other Pro-Housing Measures. The White House supports three pro-housing measures including the extension and expansion of the $8,000 tax credit, continuing an expansion of the loan limits, and support for the Housing Trust Fund. These pro-housing measures were announced by Treasury Secretary Tim Geithner and HUD Secretary Shaun Donovan at a press conference Thursday morning.

**Loan Modification Help: Why Lenders Are Slow To Provide Loan Modifications** Millions of Americans have applied with their banks to obtain a loan modification. They desperately need loan modification help. The loan modification process is taking an extremely long time. Now homeowners want to know how they can get a loan modification -- whether under the Obama Making Home Affordable Plan or not -- and why the lenders are slow to provide loan modifications. A new study is revealing some answers.

The $8,000 first-time home buyer tax credit will expire on November 30, 2009, unless Congress votes to extend the deadline. But with positive housing news coming out and with health care sucking the oxygen out of the room, is there the political will to extend and expand the $8,000 first time home buyer tax credit? Sen. Johnny Isakson (R-GA) thinks so, but instead of pushing his $15,000 home buyer tax credit for everyone, he is going to propose a $10,000 tax credit for everyone, including millionaires. He believes he can attach it to upcoming legislation as an amendment and get it passed. I spoke with Sen. Isakson this morning about his efforts to get the tax credit legislation passed.

**Home Buying Risks, Pitfalls and Tips For New Construction Homes** Home buying has risks associated with it, particularly the purchase of a new construction home in a new development. There are pitfall all along the way. What should you do to protect yourself? How do you handle the uncertainty of buying a new construction home in a new development? One reader suggests that the buyer should share any risks in that new construction purchase with the lender that give the buyer the loan. Would you agree? Leave your comment below.

House Raffle Is Possible For Some Sellers in Some States. In the past, we have written about house raffles and how only charities or other qualified not for profit organizations can legally conduct house raffles. Now, however, it seems that homeowners have teamed up in at least one state to set up, conduct and sell homes using house raffles. Will you be able to sell you home using a house raffle? That will depend on the laws in your state and the willingness of the authorities to allow them.