Should you pay your mortgage or just walk away?

Without a doubt the toughest decisions you will make as a homeowner if you’ve lost your job…or seen your values wiped out by a wave of neighborhood foreclosures…. is whether to keep on paying your mortgage….or not. Here are two articles that highlight this very issue.
Let me know what your thoughts are.
http://www.housingwatch.com/2010/01/25/the-new-mortgage-revolution-walk-away/
http://online.wsj.com/article/SB126100260600594531.html?mod=WSJ_newsreel_realEstate

U.S. is going to look to foreign investors to help fund our housing market

As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway’s government-owned fund went along for the ride — and the fall. And now that the Fed is set to back away from buying mortgage backed securities we could be in for some bumpy times in the [...]

The Fed support for low mortgage rates is set to end…..

For more than a year, the government pulled out the stops to revive home buying by driving down mortgage rates.
Now, whether the housing market is ready or not, the government is pulling out.
The wind-down of federal support for mortgage rates, set to end in two months, is a momentous test of whether the Obama administration [...]

So, how does this Homebuyers Tax Credit Work?

So, how does this Homebuyers Tax Credit Work?
For those of us who are still left in the mortgage business (masochists that we are) , next to being asked, “So, are there any mortgage loans left?”, questions about the tax credit come in a close second. So, I thought I might provide a more detailed post [...]

First-Time Home Buyer Tax Credit Does Its Work

Single-family housing starts have generally been rising since early this year. They hit a low of 357,000 in January and February of this year (seasonally adjusted, at an annual rate), their lowest level since current records of housing starts began in 1959. There was one stumble when starts fell in August from July, yet they [...]