In the Market for a Summer Mansion?

The Wall Street Journal has a piece today comparing luxury summer-home markets from coast to coast. There’s good information on vacation-home buying, in general, but the article’s featured areas are among the toniest in the country. Read more, here.

 

Summer Mansion

Pros and Cons of a 15-Year Mortgage

NerdWallet has a piece today interviewing members of their Ask An Advisor network about the efficacy of a 15-year mortgage. They discuss advantages—paid off sooner, lower interest than a 30-year loan, and the total cost is generally less than a 30-year loan—and disadvantages—larger payments, and decreased cash flow, among others. Read more, here.

 

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Scam Targeting Home Buyers

The Better Business Bureau is suggesting homeowners exercise caution during the home buying process to avoid a scam that could empty your bank account. Apparently, hackers have been posing as real estate and title agents to trick homeowners into sending money. Most importantly, never send financial information via email. Watch a video, and read more to protect yourself, here.

 

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Your Profession May Offer Mortgage Savings

What you do for a living may inform discounts on mortgages. Dana Dratch at Bankrate has some information on job-related mortgage savings. Working as a teacher, firefighter, doctor, or lawyer—or whether you choose to live near where you work—could amount to substantial savings. You can learn more here.

 

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You Could Qualify for a Mortgage Reduction

The Federal Housing Finance Agency will be granting some borrowers the ability to reduce their mortgage debt. The desired outcome is that a portion of delinquent homeowners will be able to avoid foreclosure. Bankrate has an article with additional information, here.

 

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Best U.S. Cities for Real Estate Investors

Diana Olick at CNBC shared a list of the top U.S. cities for real estate investors, and the results are surprising. Florida has more markets on the list than any other state, and Syracuse and Milwaukee were included for the first time. You can see the list and report, here.

 

Investment

The Truth About Strategic Mortgage Defaults

Federal Reserve economists along with academics at UCLA and Arizona State, spent some time researching strategic mortgage defaults in relation to the housing bust. Among the findings was proof that many who claimed to plan their default, were actually forced into non-payment. More here.

 

Financial Crash

Housing Market Stagnant in Oil-Rich Towns

As homes in the U.S. are moving off the market this year more rapidly than in 2015, there are some areas that are not enjoying the same trend. The decrease in oil prices has kept homes in oil-rich areas for sale for an alarming amount of time. Among the affected cities are Houston, Oklahoma City, Tulsa and Forth Worth. CNN has more information here.

 

Oil Pump