Charles Mills purchased his house in 2006 for $308,500. Current value: $105,797. He can barely afford to stay. But he also can't afford to move.
For homeowners, the decision to walk, tied to a housing crisis that's gripping
the market, is far-reaching.
Many Americans can't afford a home or don't want to own
one, a trend that's spawning a generation of renters and a rise in
Many financial planners advise debt-free retirement — including freedom from mortgage payments.
Stung by the crash of the housing market, some struggling homeowners are
using a provision of the
bankruptcy code to eliminate second mortgages.
Fixed mortgage rates remain below 5%, and fewer home buyers seem to be opting for adjustable-rate loans.
For home buyers who need to finance their purchase using a mortgage, a cash buyer can be their worst enemy.
In today's super-competitive real estate market, any little edge can help make your house more desireable.
Mortgage lenders call it "dual tracking," but for homeowners struggling
to avoid foreclosure, it might go by another name: the double-cross.
Homes are more affordable these days, the selection is abundant, and
interest rates are still fairly low. For some, it's a
great time to buy.