The money from a multibillion-dollar federal program to help unemployed and underemployed workers in certain states hold onto their homes failed to reach some of the people who needed the most help, especially in two states hit particularly hard by the recession. [More]
Mother Nature may pose a danger to mankind at times, but we humans can do a pretty good job of messing things up all on our own. For example, a homeowner in Texas was relieved when her house was spared from a tornado… and then incredibly upset to find that a wrecking crew had demolished the house accidentally. [More]
When you leave home for an extended period, you probably lock the doors up tight, maybe turn on an alarm, and expect that the house will still be standing upon your return. Which is why one Long Island homeowner was shocked, to say the least, when he returned after eight months away to find his home had disappeared entirely.
Family Suing Previous Homeowner, Real Estate Agent After Realizing “Dream Home” Was Infested With Snakes
It’s the stuff of nightmares: Fearing that the walls of your home are crawling with snakes, only to find out that no, this isn’t a bad dream, there are actually reptiles infesting the house you live in. That was the reality for one Maryland family who’s now suing their home’s previous owner and the real estate agent behind the sale, claiming both parties knew the house was chock-full of snakes before they sold it.
Consumers taking out a second mortgage will now have to consider the fact that if they encounter financial difficulties and file for bankruptcy, they won’t be able to strip off the additional loan obligation. [More]
Feeling like maybe you shouldn’t have splurged on that shirt when you’ve already got a bunch like it already in your closet is one thing, but deciding you’d rather not own a home you purchased is an entirely other category of buyer’s remorse. A Florida woman is blaming her winning bid on a home that comes with a $400,000 debt on it on diet pills, saying they caused her to become confused.
In a twist on the old haunted house tale, a couple in San Diego found themselves haunted by the ghost of a woman in their present, who was convicted of stalking them after they won a bidding war over a house. Though the woman says she didn’t intend do to any harm, the loss of her dream home was “devastating.”
The magical disappearance of debt sounds like a wonderful thing, doesn’t it? Unless of course, someone else is getting their debt canceled while you’re still stuck in the mud. When homeowners in foreclosure in Charlotte, N.C. heard that the city wouldn’t have to pay back millions of debt it owed Bank of America and Wells Fargo for a underperforming NASCAR Hall of Fame, they couldn’t help but ask why they’re still facing the loss of their homes.
When you don’t follow the rules, you’re likely to get into a bit of trouble. In this case, JPMorgan Chase found itself party to a lawsuit alleging the company violated a law aimed to protect homeowners. [More]
If I’ve learned anything from this site over the years, it’s that homeowners’ associations are evil and to be avoided. Sometimes you don’t have a choice, though: the home of your dreams or basic neighborhood amenities require it. And sometimes, as one Kentucky woman discovered, not joining the HOA means you can lose your house. [More]
File this one under “H” in the How Can This Possibly Have Happened files: For about the same price you’d pay for a value meal at a fast food joint, a Pennsylvania widow lost her house. This, because she failed to pay $6.30 in interest on that $280,000 home. She’s getting another chance to argue that she should keep her home, however. [More]
There’s no doubt that millions of homeowners were the victims of shady foreclosure practices at the country’s biggest banks when the recession hit. So many of those people were likely hoping for a positive resolution to their woes when the government said it was going to figure out how to compensate homeowners with its Independent Foreclosure Review, an investigation into banks’ mistakes in servicing mortgages. But after waiting years for an answer, about three million eligible borrowers will only be seeing checks for between $300 and $500.
Another day, another business hit over the head with a multi-million settlement over faulty foreclosure practices. We’ve already seen big retail banks and heavy-hitting investment banks pay the price for robo-signing foreclosures and engaging in other suspect loan servicing activities and now Florida-based business Lender Processing Services will be paying $120 million to 46 states to settle similar allegations. [More]
While one major problem facing many homeowners is dealing with insurance claims in the aftermath of Superstorm/Hurricane Sandy, there’s another long-term issue causing trouble for people whose homes have been damaged by the natural disaster — simply paying the mortgage. Relief is in sight for some borrowers as government agencies and other major lenders begin implementing programs to offer breaks on mortgage payments, among other forms of assistance. [More]
By the time it becomes obvious that a tree in your yard is dying, it may be too late to save it. In order to avoid a costly, time-consuming removal project, it’s helpful to monitor your trees for signs that they’re embarking on a death spiral.
Some homeowners are convinced that they need more space, and glance through their walls with visions of new rooms dancing in their heads. The trigger-happy subset of these folks jumps into these projects with abandon, certain that the addition will “pay for itself” by upping the value of the home. But in a housing market like this, such assumptions can be faulty.
Unless you’re in the habit of strolling through your basement hourly, you probably wouldn’t be able to catch a water leak until it’s already significantly damaged your flooring. A way to stay on top of any problems is to install a water sensor.