Housing and Urban Development Secretary Alphonso Jackson announced October 12th. that HUD will offer a mortgage financing program that requires no downpayment for people whose homes have been destroyed or damaged due to Hurricanes Katrina or Rita. In addition to requiring no downpayment, potential homeowners can live anywhere they choose in the United States. “HUD [...]
There are a lot of things that can cause you to get in debt. Some of the top causes of getting in over your head are: 1. Reduced income/same expenses. Having one spouse out of work for an extended time, reduced overtime, or a missed bonus. All cause a reduced income, but the same expenses. [...]
A new government report has predicted large spikes in heating bills this winter. This is mostly due to continuingly high oil prices, as well as the lingering affects of the recent hurricanes Katrina and Rita on energy production. The Energy Information Administration estimates that the average heating bill will cost one-third more this winter, for [...]
Talk has been going around for a few weeks about the upcoming release of the new conforming loan limits for 2006 from Fannie Mae and Freddie Mac. The amounts will not be offiicial until early December, and not effective until January, be here goes to concenseus figures: 1 Unit – $400,000 2 Unit – $512,000 [...]
On October 17th, new laws will go into effect, making it tougher for individuals to file for bankruptcy. The new rules have been given a great deal of publicity; so many consumers are rushing to file prior to the new law taking effect. According to the American Bankruptcy Institute, the number of filings was anticipated [...]
