t might be a drop in the bucket compared to the $50 billion that Bernie Madoff bilked from investors, but itâ€™s satisfying nonetheless. The Feds are moving to seize the Madoffâ€™s possessions, including their beachfront home in the Hamptons at 216 Old Montauk Highway, Montauk, NY (above) and the one at 410 N Lake Way, Palm Beach, FL
10 Financial Myths Busted – finance.yahoo.com
Alas, in this Hydra-headed global financial crisis, another generally accepted principle of financial strategy or economic logic finds its way into the shredder almost every day. We gathered ten truisms that no longer pass the test.
Tips for Home Security Alarm Installation-What you need and don't need. – homesecurityissues.com
Monitoring your home security system has never been easier but there are several things you need to consider before committing yourself to a long term monitoring agreement with any alarm company.
Concrete Gains in Popularity as Building Option – realestate.yahoo.com
Concrete homes on average require about 44 percent less energy to heat and 32 percent less energy to cool than a comparable wood-frame house. Plus, it added, the walls contain no organic material and won't support the growth of mold, mildew and other potentially harmful microorganisms that can cause allergies and other health problems.
FHA, VA help homeowners refinance – bankrate.com
If you're looking for a way to refinance your mortgage, you might want to consider a loan that's backed by the Federal Housing Administration or, if you're a U.S. military veteran, the U.S. Department of Veterans Affairs. Loans backed by these two federal government agencies are especially attractive today because the loan amount limits have been raised, and some loan programs are open to homeowne...
Renters get foreclosure relief – bankrate.com
It's every renter's worst nightmare: To move into a home or condominium with affordable rent only to find out that the owner has lost the property in foreclosure. The rent money and security deposit are gone, and chances are good that the bank that now owns the property will evict the tenant even if the rent has been paid.
Balloon loan payments – bankrate.com
With a traditional mortgage, each monthly payment comprises principal plus interest. In the early years of the loan, most of the payment goes for interest. Gradually, more and more of the monthly payments go toward principal. At the end of the term, the loan is completely repaid. This process of paying principal and interest until the loan is paid off is called amortization.
Rights of rescission – bankrate.com
Maybe you found better credit terms or you got cold feet. A provision of the Truth in Lending Act gives you the right to cancel certain real estate loans within three business days without penalty. It is called the right of rescission.
PMI or Piggyback Loan? – realestate.yahoo.com
Homeowners who make a down payment of less than 20 percent are usually required to pay private mortgage insurance (PMI), because they are considered to be at higher risk of default. PMI premiums are typically around half a percent of the interest rate, which is about $83 a month on a $200,000 mortgage.
Mortgage rates drop to lowest since the '50s – bankrate.com
A benchmark mortgage rate hit its lowest point in more than 50 years, and homeowners stampeded into loan offices to apply for refinances.