Fed survey shows US recession may be over
September 9, 2009
WASHINGTON – Economic activity is stabilizing or improving in the vast majority of the country, according to a new government survey, adding to evidence that the worst recession since the 1930s is over.
The Federal Reserve’s snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow again in the current quarter.
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Mortgage Applications Rise as Rates Fall
September 9, 2009
Mortgage rates declined last week, triggering a dramatic jump in mortgage applications.The Mortgage Bankers Association reported that its weekly index of mortgage application volume rose 17 percent on a seasonally adjusted basis compared to the previous week. On an unadjusted basis, the index increased 15.8 percent and was up a whopping 64.5 percent compared to the same week a year ago.
Much of the increase was in refinances, with the refinance index increasing 22.5 percent, the biggest jump since March. The purchase index rose 9.5 percent, which was the largest gain since early April.
Mortgage rates were down across the board:
30-year fixed-rate mortgages decreased to 5.02 percent from 5.15 percent.
15-year fixed-rate mortgages decreased to 4.45 percent from 4.57 percent.
1-year ARMs decreased to 6.69 percent from 6.71 percent.
Source: Mortgage Bankers Association (09/09/2009
Savvy buyers use self-directed IRA to buy homes
September 9, 2009
Nathan Foran used his self-directed IRA to buy a dilapidated foreclosed house in Richmond for $25,000 cash. Another $25,000 to $35,000 from the retirement account will go toward fixing up the property. He then hopes to rent it out for about $1,000 a month, money that will go straight into his retirement account.
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The Shocking Truth About the Short Sale Timeline!
September 9, 2009
There is a lot of misinformation regarding how long it takes (on average) to negotiate a short sale with a lender. As a full-time real estate investor who negotiates directly with lenders to buy the houses of people who find themselves in the process of being foreclosed upon, I know exactly how long it takes — and it isn’t quick.
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11095 Lakeshore South, Lake of the Pines California
September 6, 2009
Beautiful Golf Course Home, wooded setting, watch the golfers from your wall of windows facing the Golf Course. The Master Suite is on one side of homeand two bedrooms & bath on other side. Extra large Kitchen and dining area Plus the Formal Dining room. Must See!
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