Weathering the storm
When first-time buyer John Grooms went to arrange financing for his three-bedroom house in Island Lake, he tapped a source that is roaring back in popularity in the wake of...
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A bit about the Federal Housing Authority
Overseen by the Department of Housing and Urban development, FHA loans were created during the Depression to help borrowers who might not otherwise qualify for a mortgage. With more forgiving...
Even in this climate, there’s no rule like an old rule
Whether you're a buyer, seller or borrower, chances are you're confused. With the mortgage and housing markets in such flux, how can you make a sound decision? Experts point out...
Sale ain’t over till it’s closed
In this market, sellers have to be patient. As he prepares his Winfield home for listing, Shelton Scott says he's also prepared to wait for a buyer -- even after...
A changing landscape on home valuations
What beige does for interiors, green does for exteriors. And in this tough home-sale environment, if the outside doesn't have the right touches of green, some buyers won't bother to...
Loan programs offer hope for niche borrowers
Lenders want to see borrowers with ample incomes, down payments and polished credit. But there are mortgage plans that borrowers squeezed out by today's tighter lending standards may qualify for,...
Freezing out fraud
Say your wallet is stolen or you recently took out a mortgage so you won't be applying for more loans or credit cards in the foreseeable future. You can make...
Foreclosure can open doors too
It's not surprising that one segment of the housing market -- foreclosed properties -- is stirring interest. "We are in a foreclosure frenzy," says Michael Olszewski, broker-owner of Area Wide...
Forewarned is fore-ARMed
Lots of people blame the spate of foreclosures on the "exotic" mortgages made in the housing boom. The "interest-only option ARM" ranks among the most exotic of the bunch --...
Buyer’s market is not always what it seems
This story contains corrected material, published Nov. 18, 2007. Just because this a buyer's market doesn't mean buyers have it easy. Here are some of their challenges: FOLLOWING YOUR MONEY....