
Fannie Mae and Freddie Mac are asking loan servicers to consider delaying foreclosures, suspending payments or taking other action to help Oklahoma homeowners.
If your home is damaged by a tornado or other natural disaster, you may run into trouble paying your mortgage.
The government-supported entities Fannie Mae and Freddie Mac reminded loan servicers that their policies allow some breaks for victims of natural disasters, such as the Oklahoma tornado. There is no guarantee that servicers will give borrowers the requested breaks, but those who need help should certainly ask.
| Tags: | foreclosuresloans |
Couple who built the structure say authorities told them no permit was required. But city officials say it is far more elaborate than a simple treehouse and must comply with building codes.
What exactly constitutes a treehouse?
When does it become so elaborate it constitutes a structure and should be subject to more stringent building codes?
That’s the issue facing a couple in Holmes Beach, Fla., who built a $20,000 multistory structure in a giant Australian pine tree overlooking the Gulf of Mexico.
| Tags: | landscaping |
Many of the architect's creations, while creative, also leaked. Owners have had to do costly repairs over the years.
Looking at the pictures, it’s easy to fall in love with a home with an architectural pedigree. Who doesn’t want to say their home was designed by Frank Lloyd Wright or another famous architect?
However, owners of historic Wright homes warn, bragging rights aren’t all that come with the homes. Many are in need of significant and costly improvements.
At least 20 homes designed by Wright, whose career lasted from 1888 until his death in 1959 at age 91, are for sale around the country, at prices ranging from $690,000 to $5.6 million when we last checked a few months ago. According to The Wall Street Journal, about 270 Wright-designed homes are still lived in today.
| Tags: | celebrity |
Yes, say the credit-reporting agencies, whose automated systems don't distinguish between the two processes. But some argue the two groups deserve different treatment.
More than 2 million Americans have sold their homes in the past five years through what is called a short sale: getting the bank to agree to take less than the house is worth.
Many have thought that by doing a short sale, in which they negotiate with the lender for an orderly exit, they would do less damage to their credit than if they waited for the bank to foreclose. The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, has said they’d be eligible for mortgages to buy again much more quickly if they did short sales rather than foreclosures.
| Tags: | foreclosuresloans |
Zillow has calculated the break-even horizon down to the ZIP code level. In some cities, the time frame varies by 10 years.
The latest calculator to help you decide whether to buy or rent your dwelling lets you drill down to the ZIP code level.
Zillow’s new analysis of data from the first quarter of 2013 found that buying a home is a better financial move in 64% of U.S. metro areas if you plan to stay in the home at least three years.
But even within those metro areas, the decision varies by exactly where you want to live. For the first time, Zillow did the calculations down to the ZIP code. You can use the drop-down section below the map to break down the metro by city and then by neighborhood and also download more specific data.
| Tags: | buyingpredictionsrentals |
The daughter of the original owners, who built the house in 1956, is selling the home. She used to roller-skate on the concrete floors.
The only house in Delaware designed by Frank Lloyd Wright is for sale by the daughter of the original owners.
The Dudley Spencer house was built in 1956, three years before Wright died. He created the plans from a model of the topography drawn by Spencer, an engineer for DuPont. He and his wife, Dorothy, lived in the home until their deaths.
Asking price for the 2,538-square-foot home in Wilmington, with three bedrooms and two baths, is $1.35 million.
The zigzag numbers for single-family construction and permits are tracking the zigzag nature of the housing-market recovery.
Builders started construction on fewer single-family homes in April than they did in March, but the pace of construction is above last year’s pace, and the number of building permits rose.
Construction began on 2.1% fewer single-family homes in April than in March, but that was 20.8% above the rate of April 2012, according to monthly statistics from the Census Bureau and the Department of Housing and Urban Development.
Homes are still undervalued in 91 of the top 100 metro areas, according to Trulia's analysis. Several factors signal a bubble is not imminent.
With the way home prices are rising in some areas, you can't help wondering if we are in another housing bubble.
Not so far, says Jed Kolko, the chief economist of the real-estate portal Trulia. For there to be a bubble, home prices have to rise beyond the homes' fundamental values.
According to his analysis, that is not happening, at least in 91 of the largest 100 U.S. metros. Nationwide, homes are undervalued by about 7%, he calculates.
| Tags: | homevaluespredictions |
About Teresa Mears

Teresa Mears is a veteran journalist who has been interested in houses since her father took her to tax auctions to carry the cash at age 10. A former editor of The Miami Herald's Home & Design section, she lives in South Florida where, in addition to writing about real estate, she publishes Miami on the Cheap to help her neighbors adjust to the loss of 60% of their property value.

