Category: underwater

The benefits of staying put; some homeowners decide this isn't the right time to sell

The couple admits that they’re not especially decisive people. They still haven’t been able to decide on a replacement for their dishwasher that leaked all over their kitchen floor more than a year-and-a-half ago. They do their dishes by hand now. So you have to pity the poor real estate agent who’s taken them out... Read more »

Why do housing foreclosures have to take so much time?

Daniel Burrus Housing foreclosure filings fell in May, a decrease of 3 percent according to online foreclosure company RealtyTrac.com. That sounds good, but there are still a lot of foreclosures going on across the country. According to RealtyTrac’s numbers, one in every 400 U.S. housing units received a foreclosure filing — either a default notice,... Read more »

Who do you blame for the housing crash?

Are you one of the more than 23 percent of U.S. homeowners with a mortgage loan who is underwater according to new figures from Zillow.com? If so, who do you blame for it? Who do you blame for the rapid rise in housing values during the housing boom years, those magical years that came to... Read more »
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Would you walk away from your mortgage?

I was talking to a friend the other day. He lives in a close-in Chicago suburb, one that has high property taxes. This year, his property taxes jumped significantly, bumping up his mortgage payment by about $400 a month. At the same time, his house is worth less this year than it was last year... Read more »

The new world of Chicago housing

My timing was awful. Housing prices in Chicago plummeted as soon as I finished signing my name on our closing documents. That was back in 2006, when my wife and I purchased our home in suburban Chicago. We managed the neat trick of buying when housing prices in the city and suburbs were at their... Read more »