Tag: underwater homeowners

Let's apologize media: There really was a housing bubble

A recent reader of my blog — check one post down — took me to task a bit, asking me, in essence, why the media so often get a free pass for the role they played in the housing boom and bust that sent the country into the Great Recession. Well, that reader is right.... Read more »

Trouble refinancing? Keep calling

People don’t like mortgage lenders. It’s not hard to understand why. I’ve been trying for the last two days to determine if I can refinance my existing mortgage loan. The problem is that I’m underwater, owing more on my home loan than what my residence is worth. To refinance, I’ll need to rely on the... Read more »

Here's the scary part: There's no rule that housing has to appreciate

We’re all waiting for housing values to start to rise again. Right? I know I am: I’m underwater on my home, owing more on my mortgage loan than what my house is worth. I’d love for this to change. But what if it doesn’t? That’s the question that a recent New York Times story ponders.... Read more »
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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 »

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 »
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