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This Is What a Home Foreclosure Looks Like

Oct 6 2008 - 2:30pm by SavvySugar
827 Views - 12 comments
Southern California may be known for its near-perfect weather, but there's nothing sunny about the rampant foreclosures in the region. Lisa Ling and SoCal Connected took a look at the process of getting a foreclosed home ready for the market after the family has abandoned it. She spoke with the owner of a business that removes all of a family's possessions from their home and observed what he calls a "trash out."
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Mortgage Aid Program to Bring Hope for Homeowners

Oct 2 2008 - 3:00am by SavvySugar
255 Views - 5 comments
Mortgage Aid Program to Bring Hope for Homeowners Much of the banking drama from the last few weeks can be traced back to bad mortgage bets, making us wish that homeowners were never approved for loans they never could have afforded. Yesterday, a government drafted mortgage aid program launched into action that aims to contain the mortgage crisis from causing more trouble. The $300 billion, three-year initiative aims to allow about 400,000 homeowners to exchange their existing mortgages for more affordable ones, therefore staving off potential foreclosures.
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What's the Max Amount You Should Spend on Housing Costs?

Sep 24 2008 - 8:30am by SavvySugar
4,641 Views - 17 comments
What's the Max Amount You Should Spend on Housing Costs? The housing crisis has highlighted just how many people are living in homes they can't afford. According to data recently released by the US Census Bureau, about 15 percent of American with mortgages are spending at least half their income on housing costs. Do you know how much the government and most lenders say is the most you should spend on housing costs?
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Definition: Short Sale

Sep 23 2008 - 3:00am by SavvySugar
109 Views - 5 comments
Definition: Short Sale When, in August, 54.2 percent of Californians with homes on the market sold their properties at a loss, the sellers were involved in short sales. The term refers to selling a home for less than the value of the mortgage, and the owners end up still owing money on the property after they've sold it. While it's ideal to stay in your home until the market improves, sometimes there are circumstances like changing jobs that make it impossible.
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Guess Who? Supportive Parents

Thu, 08/21/2008 - 2:30pm guesswho by SavvySugar


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