If you’re saddled with a Wells Fargo mortgage, now would be a good time to slash your rate and payment through little effort by hitting up the bank’s streamlined refinancing program, which under certain circumstances lets you refi without being gouged for closing costs.
homes
Beware Of The "Model Home" Ploy From Window Salesmen
By 4.30.09
Thomas says his wife was approached by a belligerent salesman the other day regarding the windows on their home. He tried to get her to agree to an instant estimate and promised a huge discount for being a “model home” for the window upgrades, but when she refused to make an instant decision, Thomas says he “snatched the card out of her hand” and “yelled at her.”
"We Build In Middle Class Neighborhoods Because You Can't Afford To Fight Us"
By 4.29.09
Meet Michelle. We met Michelle at Arbitration Fairness Day and she told us about being forced into arbitration when she tried to get her poorly constructed home repaired. Now she’d like to share her story with you.
Forced Arbitration: As Fair As A Sucker Punch
By 4.27.09
We at Consumerist really hate mandatory binding arbitration, the faux-legal sucker punch that companies deliver when they screw up and you try to sue, and so should you. We’ve talked about its evils a lot, but no one can describe this legal abomination as well as the victims themselves, so this week we’ll let them speak.
Acting CFO Of Freddie Mac Found Dead This Morning
By 4.22.09
David Kellermann, a former Freddie Mac senior vice president who had been serving as the acting chief financial officer of the mortgage buying company since its takeover by the federal government last September, was found “hanging in the basement of his Reston home, dead from an apparent suicide” early this morning. Police were called to his home by someone inside the house at about 5 am today and found Kellermann’s body.
New York Times: Walking Away From Your Mortgage, Not So Bad After All
By 3.22.09
Great news, distressed homeowners! If you aren’t eligible for the President’s homeowner assistance package and can’t negotiate a better deal on your mortgage, the New York Times says that turning in the keys and leaving your home may not be the end of your financial world. The Times mapped out a guide for dealing with the various players controlling your mortgage…
Sears' New 'Secret Eavesdropping' Phone Technique Improves Customer Service, But Totally Freaks Out Other Sears Employees
By 3.6.09
It looks like Sears has finally figured out a way to ensure good customer service for home deliveries. Unfortunately, this method induces extreme paranoia in other Sears employees. The woman referred to as “Delivery” in Jason’s retelling below will probably never trust another coworker again.
Housing Statistics Are Being Buoyed By So-Called "Vultures"
By 1.27.09
Sales of existing homes are up, which sounds like good news — except that if you really look at what is going on — it’s really sort of bleak. About half of all home sales in December were foreclosures, says Marketplace, where the house is sold for less than what is owed on the mortgage.
Save Money On Your Next Refurb Project, Shop At A Habitat ReStore
By 1.9.09
Did you know Habitat for Humanity operates retail outlets where they sell used and surplus building materials? Habitat ReStores are located in 47 U.S. states and 9 Canadian provinces.
ReFi Time: Mortgage Rates Drop On New $800 Billion Intervention
By 11.26.08
If you’re looking to refinance a home and have cash and good credit, now is a good time to pull the trigger. Yesterday the government announced the latest Federal golden bandaid: a pledge to inject $800 billion directly into the credit markets, news which pushed national average mortgage rates for a 30 year fixed to 5.81%, down from 6.07%, according to bankrate. Bankrate also suggest that if you’re trying to refi to act quickly, before rates rise or home values drop.
Make Your Next House A Shipping Container
By 10.15.08
These 12 ideas for converting shipping containers into homes are pretty cool, if not always practical or cheap. Our favorite is the one that’s probably among the most expensive to make, not to mention that added cost of relocating to New Zealand to get the awesome view. Runner up: Ross Steven’s three-story fortress built into a hillside (see page 2).
Woman Buys House For $1.75 On EBay
By 10.2.08
Joanne Smith from Chicago now owns an abandoned home in Saginaw, Michigan, and she only paid $1.75 for it on eBay. Well, there’s also $850 in “back taxes and yard cleanup cost,” reports MSNBC. Smith says she hasn’t seen the house yet or visited the town, but we’re thinking hello summer home! Or maybe it’s a good place to put the parents when they retire.
Decorate Your Walls For Less By Gluing Random Crap Together
By 9.9.08
My friend and I used to pretend to be crafters, and we would email elaborately ridiculous project descriptions back and forth to each other as examples of that past time gone wild. Now we must put down our imaginary glue guns and denim swatches to pay homage to Pamela Cole Harris, who does this stuff for real. Below, see what happens when a kindly scrapbooker goes insane.
This Foreclosed Property Is An Excellent Home For Bobcats
By 9.7.08
Unlike prospective homebuyers, this pair of bobcats went absolutely wild over a foreclosed Lake Elsinore home. According to the L.A. Times, the bobcats were likely attracted by an outdoor koi pond, which isn’t just decorative, but serves as a fabulous source of drinking water. Like any suburban couple, the pair is expected to stay until the kids are old enough to leave.
Extreme Makeover Home Edition Leaves Homeowners In Perdition
By 8.4.08
Some of the winners of ABC’s Extreme Makeover Home Edition (EMHE) got a boobie prize. The Free Money Finance blog has found a few examples of EMHE recipients now in foreclosure, because after the workmen, camera crews, and glitz left, they were left with more house than they can afford. In one case, the town is hosting dinner raffles to help keep the family afloat. Here’s an extreme makeover for you: how about giving the people a house that fits their budget? I guess that doesn’t sell as many Twinkies.
What It Takes To Qualify For A Mortgage In A World With Standards
By 7.21.08
The party is over. If you want a mortgage you’re going to have to be able to afford it. Oh no! Now what are you going to do? Kiplinger’s has an article that explains how mortgage lending works when there are “standards” involved. How quickly we all forget…
Moving With Movearoo's Help? Hope You Like AT&T, Verizon, And Qwest
By 7.17.08
Movearoo.com is a new website that appears to offer free assistance with your move, helping you set up things like phone service, gas, and electricity at your new address. The site calls itself “Your Total Moving Resource.” It’s a helpful site, sure, but you should be aware that it’s funded by AT&T, Verizon, and Qwest, and exists primarily to promote their services. In other words, you won’t find a comprehensive list of competing phone service providers through Movearoo, only those offered by the three sponsor companies. A consumer advocate points out the drawback of making Movearoo your sole relocation resource:
33% Of Homeowners Say Their Homes Depreciated In Value In February
By 2.23.08
A new survey from Reuters and the University of Michigan found that a third of homeowners felt their homes lost value in February, compared to 16% a year ago.
