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McCain plan to buy mortgages under fire

By Inman News, Thursday, October 9, 2008.

The Obama campaign pounced Thursday on Sen. John McCain's proposal to wipe out $300 billion in negative equity and save homeowners from foreclosure by buying up mortgages directly from mortgage servicers.

Unlike the $300 billion "Hope for Homeowners" expansion of FHA loan guarantees that kicked off this month, the McCain Resurgence Plan wouldn't require lenders to write down the principal of loans it refinanced.  more...

Mindset matters in real estate Premium Content

By Bernice Ross, Thursday, October 9, 2008.

Are you tired of the constant onslaught of negative news? If you're ready to tune out the bad news and prosper no matter what the market does, readjusting your mindset is the key.

Maintaining a positive mindset in today's turbulent economic environment is more challenging than ever. What will happen if the financial bailout doesn't work? How will people buy homes when lenders have limited funds? How many more people will lose their jobs?  more...

Sellers wise to replace exterior door

By Paul Bianchina, Thursday, October 9, 2008.

Q: We are trying to replace a plain, solid-wood, paint-grade, 8-foot outside door on a home we are trying to sell. The old hinges are different from what's common today. I am not sure if this could be changed or not. Do you know what we should do? --Jim E.  more...

It takes a forest to build a house

By Arrol Gellner, Thursday, October 9, 2008.

Back in the not-so-Jolly Old England of the Middle Ages, where many American building traditions originated, no one knew anything about structural engineering. Instead, carpenters used common knowledge gleaned from trial and error and handed down over the centuries. With no way to analyze the strength of their buildings, they just built them as stoutly as they could, using massive timbers hewn from lots and lots of trees.  more...

Treasury moves to implement 'rescue'

By Inman News, Thursday, October 9, 2008.

The Treasury Department is "moving rapidly" to implement a plan to buy up toxic assets from banks and financial institutions, but financial markets continue to be "severly strained" and the plan is not intended to save every bank.  more...

IMF: Global recession can be averted

By Inman News, Thursday, October 9, 2008.

The International Monetary Fund projects a global recession can still be averted if financial markets stabilize and U.S. housing markets bottom out in 2009.

The financial crisis that began in U.S. housing markets has the world teetering on "the cusp of a global recession," according to a top IMF official at the International Monetary Fund.  more...

Internet 'evangelist' promotes real estate tech Premium Content

By Lai Saetern, Thursday, October 9, 2008.
Saul Klein

It all began with an advertisement in the newspaper over three decades ago.

After serving for five years in the U.S. Navy as a surface warfare officer, Saul Klein was ready for a change. He sought a career with better pay and plenty of room for advancement.

It made sense for Klein to jump into the real estate business. His father used to buy properties and sell them, and Klein saw that real estate could be a lucrative business.

He responded to a job ad, took a test and got his real estate license in 1975 to work as a sales associate.  more...

The state of foreclosure prevention Premium Content

By Marcie Geffner, Thursday, October 9, 2008.

Homeowners who can't afford their mortgage payments may not find much in the way of rescue or relief in the U.S. government's $700 billion bailout of the financial markets.  more...

Feds waive capital rules for Fannie, Freddie

By Inman News, Thursday, October 9, 2008.

Federal regulators have made an official determination that Fannie Mae and Freddie Mac are undercapitalized, but have suspended rules that would have required the companies to raise additional money.

The Federal Housing Finance Agency, which placed Fannie and Freddie into conservatorship on Sept. 7, said today that Fannie and Freddie have effectively been undercapitalized since June 30.  more...

The greatest story ever told Premium Content

By Marc Davison, Thursday, October 9, 2008.

"Abraham and Isaac sitting on a fence, you'd get right to work if you had any sense. You know the one thing we need is a left-hand monkey wrench."
--Robert Hunter, 1971.

Friday night past, a friend e-mailed me dozens of links to live recordings of Grateful Dead shows. The interesting thing about these live recordings wasn't their sound quality (amazing) or their effect on my evening. No. What's cool about these recordings is the story behind them.  more...

Mortgage rates dip below 6%

By Inman News, Thursday, October 9, 2008.

Interest rates on longer-term fixed- and adjustable-rate mortgages fell for the first time in three weeks, as investors fled to the relative safety of bond markets, Freddie Mac reported in its weekly mortgage market survey.

Rates on 30-year fixed-rate mortgages averaged 5.94 percent with an average of 0.6 point for the week ending Oct. 9, down from 6.1 percent the previous week and 6.4 percent a year ago.

Rates for 15-year fixed-rate mortgages averaged 5.63 percent with an average 0.6 point, down from 5.78 percent a week ago and 6.06 percent a year ago.  more...

Good advice for beginning bloggers

By Inman News, Thursday, October 9, 2008.

Editor's note: The following is a reader comment on the Oct. 1 Inman News column, "Write what you know."

"... One of the first things that I was told as a beginning blogger was to find your own voice. Part of having you own voice is writing about subjects that you know or that you feel strongly about. Finding your own voice does not mean that we should all find the same voice.  more...