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February 15, 2012
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Daily News Articles

  • Save a Home by Turning It Into a Billboard?
    02/14/2012

    Home owners in a Los Angeles suburb are getting their nearly $2,000 monthly mortgage paid for by allowing their home to be turned into a massive billboard, painted in orange and green. 

    The marketing company Braniacs From Mars launched the initiative: They’ll pay struggling home owners mortgage for up to a year, if home owners agree to rent out billboard space on their home to advertise the firm and its social media icons. 

  • Obama Budget Calls for $6B in Home Energy Retrofits
    02/14/2012

    President Obama is calling for $6 billion in his 2013 budget to expand home energy retrofits. Obama unveiled his $3.8 trillion budget for 2013 on Monday. 

  • Home Owners More Attractive Than Renters, Singles Say
    02/14/2012

    Home owners trump renters when it comes to finding someone to date, according to a new survey of 1,000 single people. More than a third of women and 18 percent of men would rather date a home owner than a renter, according to the survey, which was conducted on behalf of Trulia.

    On the other hand, only 2 percent of women said they’d prefer to date a renter, while 3 percent of men said they’d prefer a renter. 

  • Banks to Pay Military Members for Foreclosure Errors
    02/14/2012

    Four major banks have agreed to reimburse any military members found to have been wrongfully foreclosed upon in the last five years.

    The Justice Department will oversee the reviews by the banks. The financial institutions involved are JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial. 

    The banks will be conducting reviews of accounts dating back to Jan. 1, 2006, to find any military members who they may have mistakenly foreclosed upon — which violates the Servicemembers Civil Relief Act. 

  • HUD Grants $1.8 Billion to Enhance Affordable Housing
    02/14/2012

    The U.S. Department of Housing and Urban Development announced that it will offer nearly $1.8 billion to public housing authorities nationwide, allowing agencies to make large-scale improvements to public housing units. 

    The funds also can be used to make energy-efficient upgrades to replace old plumbing and electrical systems, according to HUD. 

    Thousands of public housing units are lost annually, mostly due to disrepair, according to HUD.

  • NAR Cautions Against MID Changes
    02/14/2012

    The National Association of REALTORS® has come out against parts of President Obama’s proposed budget for 2012 that would limit itemized deductions, including the mortgage interest deduction, for wealthier households.

    “NAR firmly believes that the mortgage interest deduction is vital to the stability of the American housing market and economy,” 2012 NAR President Moe Veissi said. “We urge the president and Congress to do no harm.”

  • Free Info for Clients Buying a Snow Blower
    02/14/2012

    In the 12 months leading up to November 2010, the rash of snow storms that slammed the United States pushed snow blower sales beyond the sales of every other type of outdoor power equipment — including chain saws, trimmers, mowers, leaf blowers, and pressure washers, according to The NPD Group, a Port Washington, N.Y.-based market research company. Sales of snow blowers were up 24 percent in units and 14 percent in dollars.

  • 6 ‘Turnaround Towns’ in Real Estate
    02/13/2012

    Florida cities are expected to see some of the biggest recoveries in housing prices in the coming months, according to a new report by Realtor.com that reveals the top turnaround towns. In fact, the signs are already there with drops in inventories and distressed homes, as well as higher listing prices and increases in sales.

    The following are the top six housing markets expected to see the biggest turnaround, according to Realtor.com. 

  • Could the Mortgage Deal Lead to a Jump in Foreclosures?
    02/13/2012

    A $25 billion mortgage settlement announced between major banks and state and government officials is supposed to bring aid to troubled home owners, but it could also bring a wave of new foreclosures, CNNMoney reports. 

    During the yearlong negotiations, some banks slowed down repossessing homes, and now they may have a backlog of troubled loans on the books — loans that can’t be saved by the deal’s aid on refinancing or mortgage principal reduction. 

  • Banks Offer More Cash Incentives for Short Sales
    02/13/2012

    More banks are offering home owners incentives to sell their houses in a short sale to prevent a costly foreclosure to the bank. In fact, some banks are offering struggling home owners as much as $35,000 to do a short sale, according to an article at CNNMoney.

    Many home owners have been surprised at banks’ recent willingness to approve short sales.