Category Archives: Homes
American Dream of Home Ownership a Challenge in Chicago
The New York Times reports that as the Great Recession ravaged the country’s housing market, the percentage of homeowners dropped sharply from 69.2 percent in 2004 to 66.4 percent now. Experts say the levels are akin to where they were in 1998 and could decline to levels seen in the 1980s or earlier. What this… Read More »
Atlanta Homebuyers Learn Secret to Qualifying For a Mortgage Amid Tightening Credit
Lenders can’t seem to make up their minds. One day they’re handing out subprime mortgages like candy. The next, it seems you need to be a saint to qualify for a loan. Well, maybe not a saint. But you do need to have a credit score and finances that put you in the top third… Read More »
How Chicago Homebuyers Can Increase Chances of Getting a Mortgage
Less than 10 years ago lenders were handing out mortgages like there was no tomorrow. This spring, it’s a different story, say Chicago bankruptcy attorneys. Just one-third of borrowers who apply for a mortgage in coming months will qualify, according to Wallet Pop. After being burned by a record number of defaults and with a… Read More »
Should Chicago Homebuyers Opt For New Adjustable Rate Mortgages?
Remember last decade’s adjustable-rate mortgages? You know, the subprime loans that led to millions of mortgage defaults across the country – and pretty much launched the whole recession? Well, they’re back. But this time around, lenders say they’re different – and depending on your financial situation, they may be able to help you afford a… Read More »
Atlanta Borrowers Taking Out Adjustable Rate Mortgages Again
Have adjustable-rate mortgages gotten a makeover? Lenders say the ARMs that once contributed to the housing market crash may now be an affordable option for Atlanta home buyers. Back in the 90s, adjustable-rate mortgages made up the large majority of home loans. The problem was, many of these loans came with risky perks intended to… Read More »