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Archive for October, 2008

Cities Where Your Dollar Goes Furthest

Saturday, October 18th, 2008

Money goes further some places in the United States than it does in others.

Housing, in particular, has remained most affordable in the South and the Midwest. That’s because of less stringent building, an abundance of land and growing populations in the South, says Daniel McCue, a research analyst at Harvard’s Joint Center for Housing Studies.

To determine the cities that offer the best quality of life for the least amount of money, Forbes magazine calculated the ratios between a city’s median home price and its median household income. It also factored in projected job growth. And it compared median income to Moody’s Economy.com’s cost of living index.

Here are the 10 cities that it found to offer the best value, and the cities that it believes offers the worst value.

Cities Where Residents Get the Most for Their Money

  1. Austin, Texas
  2. San Antonio, Texas
  3. Indianapolis, Ind.
  4. Houston, Texas
  5. Charlotte, N.C.
  6. Columbus, Ohio
  7. Dallas
  8. Minneapolis/St. Paul
  9. Denver
  10. Portland, Ore.

Cities Where Residents Get the Least for Their Money

  1. Los Angeles
  2. Providence, R.I.
  3. New Orleans
  4. Philadelphia
  5. Cleveland
  6. New York
  7. Milwaukee, Wisc.
  8. St. Louis, Mo.
  9. Washington, D.C.
  10. Sacramento, Calif.

Source: Forbes, Abha Bhattarai (10/10/2008)

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The Hope Now Initiative. Real Estate Professionals and Homeowners Please Read!

Thursday, October 16th, 2008

Dear Mr. and Mrs. Homeowner,

I know that times are tough and some of you may have mortgages that seem to eat most of your paychecks and savings.  Maybe a job loss, divorce or a loan you signed for was a good choice at the time but a bad decision in the long run..these chain of events could lead into major financial crisis.

Not sure if you are aware that there is help out there and thanks to President Bush, His Hope Now Initiative can in fact get you on the road to financial recovery.

Part of the initiative is that if you have obtained a subprime adjustable rate loan some lenders, loan servicer and mortgage investors may allow a freeze on your rate which might help to keep homeowners in their homes.

This program is not suitable for all but may in fact help you through your own personal crisis.  Here is important info that may help you..

There is now a counseling hotline, the phones are manned by HUD-approved counselors in connection with the non-profit organization Homeownership Preservation Foundation.    

1-888-995-4673

45 minutes and your life can change, in most instances that is the time you will be on the phone with a counselor. 

They will gather information and if you are current and expect to stay current after your rate adjusts but are looking to refinance into a loan you can afford, there is a good chance this initiative may be for you.

There are some stipulations such as

  • No Home Equity lines
  • Must have secured financing between January 01, 2005 to July 31, 2007
  • Adjustment of rate to happen between January 01, 2008 to July 31, 2010
  • must be current on your loan

Regardless of the situation you are in..if you risk losing your home…these counselors may still be able to assist you.  The more info you gather for them the more likely they can help you so get those vital docs out before you make the call.

They estimate that over 1.2 million borrowers are in similar situation as yourself… so don't be too proud..or leary make the call. 

Many loan providers are quite flexible.  Keep in mind they have many REO properties and really they don't want anymore.

If you are not current on your mortgage I would still call the counselors.

While they might not be able to help you with rate adjustments they may in fact have other solutions. 

If you need help…reach out…remember time is of the essence. 

One of the biggest mistakes a homeowner can make when they are behind on their payments is not do anything at all.  Please think about your future and just make that call!     

1-888-995-4673

If you are facing foreclosure there is help nationwide!

Disclaimer: The opinions expressed by The My Homequest Real Estate Service Directory and it's members and those providing comments are theirs alone, and do not reflect the opinions of Midori Miller and CENTURY 21 Sundance Realty. Midori Miller and CENTURY 21 Sundance Realty are not responsible for the accuracy or content provided by The Community.

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