After an investigation the Senate panel found that Washington Mutual could have prevented the downfall of their company. Executives at the firm had knowingly approved borrowers for loans they knew eventually the borrower was not going to be able to afford. Further investigation found that loans were even given to individuals who had provided false […]
JohnHart Real Estate
Contributor, designer & admin for JohnHart Gazette.
Housing Market Bounces Back
Home prices in Southern California increased 14% last month compared to a year earlier.
President has a new neighbor
There was a new listing on the market by 36 year owners Bill and Jacky Grimsaw, the Presidents former neighbors.
Bailout Funds Paid Back
Banks, insurance and auto industry giants all definitely have one thing in common, they all received generous bailout funds to make sure their companies did not go bankrupt. Surprisingly, most of the companies are paying back the funds sooner than expected. The economy is on the right track and hopefully this means we are getting […]
Celebrity Real Estate
Diane Keaton’s home is back on the market for $10.98 million, just a year ago the property was listed for almost $13 million. She had purchased the 1920s-built home in 2007. One of the unique features of this property is that it has an interior courtyard which is surrounded by archways. The property also has […]
How many individuals predicted the Housing Blowup?
There were many investors and individuals who right away knew the housing blowup was coming, how did so many people miss it?
New Tax Break
Borrowers in foreclosures or short sales will qualify for a new tax break. On April 8, 2010 California Legislature approved a tax break to further assist distressed homeowners. The bill is expected to waive state taxes on mortgage debt that was forgiven in a foreclosure or short sale. About 34,000 taxpayers are expected to benefit […]
Nicholas Cage’s million dollar home has been foreclosed on
The 1940 mansion was built for only $110,000. Cage had originally put the house on the market for $35 million.
Increase In Mortgage Rates
The first week the Federal Reserve was no longer buying mortgage-backed securities interest rates increase to 5.32% from 5.08% for a 30-year fixed mortgage. They had purchased $1.25 trillion debt and this has kept mortgage rates below 5%. The increase is said to be due to signs of the economy slowly recovering rather than the […]
Extreme Makeover: Home Edition
The Herbert family’s home was foreclosed on in October. They had a loan amount of $110,000, during the show they had refinanced for $250,000 and a year later they refinanced again for $382,500 which they could not afford.