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Home Equity Loan Options

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What are home equity loan options and how do they work? A home equity loan option is an option that is open to you when you apply for a home equity loan from either a financial institution or a mortgage company. This is not limited to a second mortgage, a reverse mortgage or a home [...]

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Infographic: How Burglar Alarms Function
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May 24, 2012 | No Comments

Infographic: Why do Real Estate Agents Get So Much Money To Sell My House?
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May 23, 2012 | No Comments

Infographic: Staged and Sold - Sell your Home Like a Pro
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May 22, 2012 | No Comments

Hispanic Middle Class Decimated by Foreclosures
The Hispanic middle class has been decimated by foreclosures. There hardly has been any study of the impact of this crisis on groups. Foreclosures understand neither race nor ethnicity. It has spread its tentacles irrespective of gender, age or class but the effect has varied from one group to another. As per the findings of National Council of La Raza (NCLR) the Latinos has been badly impacted. Over 17% have either lost their homes or will do so. The news is alarming. The middle class among the Hispanics have invested a disproportionate amount of their wealth in house ownership. The problem is not only housing. The Latinos have lost their equity – something they needed for their future. Consequently their retirement for tomorrow and education for today has been affected. One million has been affected – the middle class is on the way to being wiped out. The situation has become further complicated with unemployment. It has made it impossible for them to modify loans. Those without work are facing a long term bleak future. The NCLR has suggested that the Latinos be permitted a longer grace period than others – extending beyond the typical three months. Faced with triple attacks from foreclosures, loss of equity and unemployment the family relationship within the group is under great strain. The children are finding it difficult to continue with regular schooling. The NCLR suggests that housing advocates help those who have been denied loan modification wrongly. The banks should resort to foreclosure as a last recourse. The judges dealing with bankruptcy should try to reduce the principal on the loans taken on primary residences. If foreclosure has been done then the families should be allowed to rent it back with the hope that they can own it once again in future. Among the Latinos and Afro-Americans 17% and 11% respectively are in foreclosure related trouble as per the findings sketched out in “Foreclosures by Race and Ethnicity”. These steps spell relief to those facing foreclosure threats anywhere but for the Hispanics these are vital as they have been worst hit. Photo by Master Isolated Images.
May 21, 2012 | No Comments