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Home is where the house is

By Alison Rogers, Sunday, October 12, 2008.

We are slowly nearing the sale of my beloved beach house, which I bought with boom real estate profits in 2001. I had wanted an apartment, but my then-Realtor (and now my current boss) convinced me that a two-family house would make much more sense in terms of financial planning flexibility.

"You can live in one half, and you can always rent out the other half," he said. "If you keep the house long enough, that will provide retirement income."  more...

New title insurer undercuts competitors

By Jack Guttentag, Sunday, October 12, 2008.

In the midst of the worst financial crisis since the 1930s, one that originated in and owes its severity to developments in the home mortgage market, it is nice to be able to report some good news about this market. The newly chartered EnTitle Insurance Co. is now offering title insurance directly to borrowers through its Web site, www.entitledirect.com. The premiums charged by EDI undercut those of existing insurers by about 35 percent.  more...

Mortgage approval is no easy task

By Dian Hymer, Sunday, October 12, 2008.

It wasn't too long ago that home buyers made offers without financing contingencies and closed the deal in as short as 14 days following acceptance. Quick closes are virtually impossible today if you're buying a home with the aid of a mortgage. And, it's highly recommended to include loan and appraisal contingencies in your offer.  more...

Timing the market: Refi or keep ARM loan?

By Benny Kass, Sunday, October 12, 2008.

DEAR BENNY: I have a hybrid mortgage that is fixed for the first five years at 4.25 percent, and is tied to U.S. Treasury securities. The loan document notes that the index value is 2.1 and the margin is 2.75. The first "change date" on the loan is Nov. 1, 2009. My loan documents say on the first change date, my interest rate could be as high as 9.25 percent or as low as 2.75 percent, with no more than a 2 percent increase in any given year thereafter. Given the current fixed interest rates, is it advisable for me to refinance the loan now or continue to take advantage of the low rate I am paying for another year? What is the likelihood that the "index" could reach 6.5 percent in a year, raising my interest rate to 9.25 percent at the end of 2009? I would appreciate your response. --Belmont  more...