Saturday, 16 November 2024

Finance & Mortgage

'Australian Building Permits Drop Unexpectedly in January

The Australian Bureau of Statistics announced on Monday, March 4, that home building permits fell unexpectedly by 2.4 percent in January 2013, after approvals contracted 4.4 percent in December 2012. The value of Australian dollar also weakened on poor services sector expansion of China and the impact of Sequestration in the U.S.

'Fred Durst's Los Angeles Home Hits the Market for $1.85 Million

Limp Bizkit frontman Fred Durst selling Los Angeles Spanish outpost for $1.85 million, reported Zillow blog.

'Zsa Zsa Gabor's 'Argo' Bel-Air Mansion Finally Sells

Zsa Zsa Gabor's home which recently filmed "Argo" finally bags a buyer, reported Zillow blog.

EDITOR'S PICKS

'Federal Reserve Seeing Banks Benefiting More Than Homeowners

While we've been seeing a huge drop in interest rates in recent months, The Federal Reserve are livid at the fact that American banks are cashing on the swarm of home-buying and mortgage loan refinances, reported The Economist.

By Ansa Varughese
'Florida Sinkhole Consumes 36-year-old Man From His Bedroom

A 36-year-old Florida man went missing from his home after a large sinkhole sunk his bedroom on Thursday night, reported Los Angeles Times.

By Ansa Varughese
'China's New Mortgage Rules, The Latest Efforts To Cool Real Estate Market

As China's housing market displays an extreme price gap between the biggest and the smaller cities, Chinese central banks are increasing down-payment costs and interest rates for second-home mortgages, reported Bloomberg Businessweek.

By Ansa Varughese
'30-Year Fixed Mortgage Drops to Historic Low 3.51 percent

This week the average U.S. rates on fixed mortgages hit a new record low--at 3.51 percent for 30-year fixed mortgage, reported The Associated Press.

By Ansa Varughese
'UK Bedroom Tax May Drive Residents into Expensive Rentals

The U.K. “Bedroom Tax” which is slated to come into effect from April 2013 might cost the local and council housing association tenants a fortune, while also forcing them to pay more in taxes. However, following constant charges from housing associations and charities, Iain Duncan Smith, U.K. Secretary of State for Work and Pensions has been forced to review the reform.

By Rapti Gupta
'Real Estate: Short Sales Skyrocketed in 2012

The number of homeowners who resorted to short sales in order to get out from under mortgage debt dramatically increased last year.

By Staff Reporter
'Privatizing Long Island Power Authority, Can It Lower Electric Bills For Long Island Families?

Governor Cuomo wants to privatize Long Island Power Authority, LIPA, in an effort to lower electric bills for families, reported WNYC.org.

By Ansa Varughese
'Canada Mortgage and Housing Corp. Hiding From Buyers The Homes Were Foreclosures

Canada's national housing agency is being questioned on whether they're selling properties that were foreclosed, reported The Financial Post.

By Ansa Varughese
'FBI and HUD Raid Elias Realty Livonia and Brighton Offices

The Federal Bureau of Investigation (FBI) and the Department of Housing and Urban Development (HUD) searched offices of Elias real estate and Financial Services in Livonia and Brighton in South Michigan on Wednesday, Feb.27, for a possible mortgage fraud.

By Rapti Gupta
'Debra Messing Sells Bel-Air Home for $11.4 Million In Less Than a Month

Funny lady Debra Messing just sold her Bel-Air home for $11.4 million, reported Zillow blog.

By Ansa Varughese
'Study Finds Real Estate Disparity Between White and African-Americans

A recent study by the Brandeis University found that a widening wealth gap between African Americans and white Americans is creating a real estate disparity, reported The Washington Post.

By Ansa Varughese
'Ace Frehley of KISS Faces Home Foreclosure, Owes More Than $700,000

Ace Frehley, also formerly known as "Space Ace" for KISS is facing home foreclosure, reported New York Daily News.

By Ansa Varughese