Zuckerberg’s Loan Gives New Meaning to the 1%
Bloomberg | July 14, 2012
Billionaire Mark Zuckerberg is giving new meaning to the term “the one percent.” The Facebook Inc. founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property.
In the U.S. Housing Market, Recovery or Lost Decade?
Reuters | July 15, 2012
What some of Wall Street’s forecasts for a recovery may be underestimating are tectonic shifts in the U.S. economy that make the housing market a different place from a decade ago.
Here Comes the Catch in Home Equity Loans
The New York Times | July 14, 2012
The easy terms of many home equity lines of credit are about to end, as borrowers will have to start paying principal as well as interest.
Q&A: How the Credit Card Settlement Affects You
The Wall Street Journal | July 13, 2012
Merchants big and small settled litigation against Visa and MasterCard Friday. As a result, merchants will be able to tack on extra fees when shoppers pay with plastic.
Will Housing Rescue the U.S. Economy?
CBS News | July 15, 2012
There is now broad consensus that the housing market is bottoming, but it remains to be seen how strong the recovery will be and whether it can help boost the moribund economy from the spring-summer doldrums.
US Consumer Agency to Supervise Credit Reporting Companies
Reuters | July 16, 2012
The U.S. consumer watchdog agency said on Monday it will start closely supervising credit reporting companies in September, bringing the industry under strict federal supervision for the first time.
More Home Owners Gain Equity
RealtorMag | July 13, 2012
Rebounding home prices are lowering the number of home owners who are considered “underwater” on their mortgage, according to a new report by CoreLogic. (We received some feedback from a reader last week in response to this increase in equity. In summary he said:
“The fact that the tiny increase in values we’ve had so far pushes these 700,000 folks out from being underwater simply shows that there are no government programs needed to fix our housing crisis.
All we need is for the economy to recover just a bit and that solves many of our problems. We don’t need more principal write downs, more refinance programs, or eminent domain seizures of mortgages. What we really need is certainty, which means the government leaving things alone long enough to allow the market to correct itself”.
He makes a good argument. Thoughts or feedback? ~Anthony)
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!