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.
If you own a home, you may be wondering, "should I sell my house?" Consider the current housing market, the credit crisis and whether it's the right time to sell your house. Other factors to consider include unfinished neighborhoods and the effect of foreclosures as well as how long one may want to wait to sell a house in this housing market.
With the mortgage crisis and shifting American economy you may wonder "when is the best time to sell a house?" You can't time the real estate or housing market to sell a house. One expert, a top real estate agent in Chicago, says you will likely never buy low and sell high unless you're moving to a different state. Learn about the best time to sell a house and buying and selling high and low.
How has the recent credit crisis and bailout affected mortgage interest rates? To decide whether to refinance an adjustable rate mortgage into a fixed rate loan you need to understand which index your lender uses to set the ARM interest rate. ARMs are often tied to the London InterBank Offered Rate (LIBOR) or U.S. Treasury bills. These indexes may move in different directions and so you may want to refinance in one case but not the other. When you know which index affects your mortgage loan you will have a better idea of mortgage interest rates.
It was all about the economy on the Ilyce Glink Show today. With the stock market declining about 5 percent for the week (after a 1,000 point swing on Thursday), and the news that Treasury Secretary Hank Paulson had decided not to buy distressed mortgage-backed securities with TARP, Ilyce discussed the ramifications to the credit crisis of taking different action. She answered questions about short sales, refinancing your loan, raising money-savvy kids, and the rise in bankruptcies. To find out more, tune into the show. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
Home values continue to decline and home owners are losing income. These factors affect home owners' ability to sell homes and make mortgage payments. Some home owners may be considering giving their homes to the bank through foreclosure and moving on. Those who can afford to keep their homes have negative equity -- they may owe more than the current home value. The credit crisis continues to impact home values, mortgages and the housing market as a whole.