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Recovery alphabet, government soup

By Lou Barnes, Friday, July 24, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/haarald/3716352899/" target=blank>Hobbes vs Boyle</a>.

Signs of economic bottom, a wild stock market and relentless Treasury borrowing combined to send long-term rates to six-week highs: The 10-year T-note jumped 30 basis points to 4.7 percent, and no-point mortgages reached 5.5 percent.

A crowd of spinners in expensive suits (Larry Kudlow in front) tried to sell bottoming data as recovery, preying on hopes for an end to the Great Recession. The authentic debate is about the shape of recovery: will U.S. gross domestic product "V," like old times? Are we stuck in "L" or "W" futures? Or "V" with a limp and wandering right-side?  more...

Realty reality show goes social

By Inman News, Friday, July 24, 2009.

Frontdoor.com is inviting the audience to be a part of its new series, "Real Estate Intervention," via Twitter and Facebook.  more...

Few options when $350K underwater

By Tara-Nicholle Nelson, Friday, July 24, 2009.

Q: Several years ago, my in-laws approached my then-husband and I with a real estate business proposal. (They owned a mortgage company.) We could buy the home of one of their clients, who was struggling financially, and let the owner lease it back from us for a few years until she was back on her feet and would buy it back from us under a lease-option agreement. We would get the tax write-offs and $10,000 from the sale, the owner/tenant would get her bills paid off from the sale, and we'd basically have to do virtually nothing. We agreed to do the deal, but we did it in my name only.  more...

Not all woods absorb stain the same

By Paul Bianchina, Friday, July 24, 2009.

Q: First-time homeowner and first-time stainer here! I had a small porch made out of untreated wood built last summer that I would now like to stain. I like the redwood look I see throughout the neighborhood, what I think of as the most common color of stain around!

I purchased two sample packets of stain, both by Olympic. One was a toner and one was a semi-transparent version of the same redwood color. I applied them both to a piece of wood leftover from my porch and they both went on like a watercolor paint -- very thin, very clear and not deep colors at all. I feel it colored it maybe only a shade darker than what the natural wood is.  more...

Loan mod 'boiler room' alleged Premium Content

By Matt Carter, Friday, July 24, 2009.

A loan-modification company based in Southern California allegedly spent $70,000 a week on radio and television advertising for its sales force to generate 500 calls a day from desperate homeowners facing foreclosure around the country.

Employees reportedly manned 44 office cubicles, working staggered shifts in "a well-appointed telephone boiler room" to generate about $6.2 million in revenue for Anaheim, Calif.-based H.E. Servicing Inc. and related businesses, but helping only about one in 10 of the nearly 3,000 borrowers who paid up-front fees of $1,000 or more.  more...

Mountain markets offer retreat from heat

By Steve Bergsman, Friday, July 24, 2009.

At higher elevations, the air is thinner and so are the second-home-buying opportunities. However, in this recession, a brief window of affordability has opened for entry-level homes.

This is good news for people like me.

I live in Arizona, and out of the 20 families on my street about a quarter of them own second homes and they are all located in mountain communities, not at beaches.  more...

 
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